§ 41-826 — Permanent Arizona historical society revolving fund

A. The permanent Arizona historical society revolving fund is established consisting of both of the following:

1. All monies received by the society from operating gift shops, book shops and food service facilities and from charges for the use of or admission into any of the society's facilities and deposited, pursuant to sections 35-146 and 35-147, in the fund.

2. Gifts, grants, donations and contributions to the fund.

B. Fund monies shall be spent by the society for both of the following:

1. Enhancing the programs of the society or operating or improving its facilities.

2. Issuing historical markers for a dude ranch that is designated for inclusion in the Arizona dude ranch heritage trail program established by section 41-867.

C. The Arizona historical society shall prepare an annual report that accounts for all permanent Arizona historical society monies received, from where received and for what purposes the monies were used during the fiscal year. The report shall include plans for the ensuing fiscal year. The report shall be presented to the legislature during January of each year.

D. On notice from the director, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.

E. All monies in the fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations.