The centennial commission shall transfer ten thousand dollars from its special revolving fund to the state treasurer to be placed in a bicentennial trust fund. The principal and interest of this fund must remain intact until transferred to the bicentennial commission on or after January 1, 2089. If no bicentennial commission is in existence on January 1, 2089, the money in the bicentennial trust fund must be transferred to the governor. Upon transfer to the bicentennial commission or the governor, as the case may be, the moneys in the fund may be expended to commemorate and celebrate the bicentennial of the state.