Be it enacted by the People of the State of Maine as follows:

Sec. 1. Authorization of bonds to provide for funds to develop and redevelop commercial facilities, to assist Maine businesses that demonstrate an ability to create jobs and repay obligations but do not have sufficient access to credit, to assist regional economic development agencies to relend for the purpose of creating or retaining jobs, to leverage federal funding to redevelop the naval base in Winter Harbor and Gouldsboro into an education and research center, to provide grants or loans to municipalities for public infrastructure and to construct 2 facilities to support Maine businesses through product development and testing. The Treasurer of State is authorized, under the direction of the Governor, to issue bonds in the name and on behalf of the State in an amount not exceeding $29,400,000 to raise funds to develop and redevelop commercial facilities, to assist Maine businesses that demonstrate an ability to create jobs and repay obligations but do not have sufficient access to credit, to assist regional economic development agencies to relend for the purpose of creating or retaining jobs, to leverage federal funding to redevelop the naval base in Winter Harbor and Gouldsboro into an education and research center, to provide grants or loans to municipalities for public infrastructure and to construct 2 facilities to support Maine businesses through product development and testing, as authorized by section 6. The bonds are a pledge of the full faith and credit of the State. The bonds may not run for a period longer than 10 years from the date of the original issue of the bonds. At the discretion of the Treasurer of State, with the approval of the Governor, any issuance of bonds may contain a call feature.

Sec. 2. Records of bonds issued to be kept by the Treasurer of State. The Treasurer of State shall keep an account of each bond showing the number of the bond, the name of the successful bidder to whom sold, the amount received for the bond, the date of sale and the date when payable.