Yes and yes. The OC Fairgrounds is owned by the State of California and is formally known as the 32nd District Agricultural Association or 32nd DAA.
District Agricultural Associations were established to assist in marketing California agricultural products by showcasing livestock, fruits, vegetables, nuts, berries, seeds, hay, straw, other agricultural commodities, and products made from agricultural commodities. The reason the OC Fair actually exists is to show off local livestock and agricultural products. The Junior Livestock Auction is part of that core reason for being of the OC Fair as are the wine, food, flower, and produce competitions.
District Agricultural Associations are part of the California Department of Food and Agriculture (CDFA) in the Executive Branch of government and report to the Governor. Fairs fall under the Marketing Services branch which also manages dairy product production, marketing and pricing; assists in marketing agricultural commodities; and collects agricultural market information and statistics to assist California farmers in growing and selling their commodities. Fairs and Expositions is under Marketing Services and assists State owned and operated fairgrounds in management.