The Minnesota Historical Society shall appoint a historic resources advisory committee, with balanced statewide membership and representatives of local, county, and statewide historical and cultural organizations and programs, to provide policy and grant making guidance on expenditures of Statewide Historic and Cultural Grants, funded by the Legacy Amendment's Arts and Cultural Heritage Fund. This committee shall seek input from all interested parties, and shall make recommendations for expenditures from these funds to the executive council of the Minnesota Historical Society; all expenditures must meet the requirements of Minnesota Statutes, section 138.01.