A. The board of directors may, and if in its judgment it will be to the best interest of the people of said county, lease the grounds, buildings and equipment, or any part thereof, to any person, firm, corporation or association for any purpose whatsoever on any terms deemed reasonable by said board of directors, including housing animals or equipment or holding exhibitions or contests, or for the exhibition or contest of any rodeo, baseball, football or any other game, display or contest, either occasionally or annually, as long as such lease does not interfere with or is in connection with the holding of an annual free fair.

B. The board of directors may also, with the approval of the board of county commissioners, enter into a lease of a portion or site on the grounds for any term of years they deem reasonable with any person, firm or corporation for the erection and maintenance of a building or buildings by the party for permanent displays or housing equipment or for the permanent housing or shelter of livestock, or for any other purpose which may benefit the county free fair association or any of its activities and as long as said lease or leases do not interfere with or are in connection with the holding of an annual free fair.

C. The board may contract with any person, firm or corporation for the erection of a building by such person, firm or corporation on a specified site to be used by such party, with the provision that the building shall become the property of the free fair association at the termination of any number of years to be agreed upon.