Minnesota Lures
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Mankato Township was not settled by European Americans until Parsons King Johnson in February 1852, as part of the nineteenth century migration of people from the east across the Midwest. New residents organized the city of Mankato on May 11, 1858.

A popular story says that the city was intended to have been named Mahkato, but a typographical error by a clerk established the name as Mankato.

It was also "the big town" that people from "Little House on the Prairie" series used to go to for shopping.

This lure looks like a "Doctor Spoon" and has the K-B name on it, a company that starting in Superior, WI....

I assume this company purchased the rights to sell or even manufacture this lure.  Due to the "newer" box, I assume this lure was made in the late 1970s or it the 1980s.
Hope Engineering Co
Wait a minute...Paul Bunyan in Mankato?

Yes, Prescott Spinner did buy out some lures made by Paul Bunyan, and eventually sold their lures and rights to Fred Arbogast Co in Ohio, the maker of the famour Hula Popper and Jitterbug.

They also bought the rights to the K-B and the Doctor spoon from MN.
Prescott Spinner Co
Pollywog Spinner Co
These spinners are to create lots of added action to the bait it is attached to "the instant it hits the water".