Sec. A-4. Taxable bond option. The Treasurer of State, at the direction of the Governor, shall covenant and consent that the interest on the bonds is includable under the United States Internal Revenue Code in the gross income of the holders of the bonds to the same extent and in the same manner that the interest on bills, bonds, notes or other obligations of the United States is includable in the gross income of the holders under the United States Internal Revenue Code or any subsequent law. The powers conferred by this section are not subject to any limitations or restrictions of any law that may limit the power to so covenant and consent.

Sec. A-5. Interest and debt retirement. The Treasurer of State shall pay interest due or accruing on any bonds issued under this Part and all sums coming due for payment of bonds at maturity.

Sec. A-6. Disbursement of bond proceeds. The proceeds of the bonds must be expended for acquisition of lands and interests in lands for conservation, water access, outdoor recreation, fish and wildlife habitat and farmland preservation in accordance with the provisions for such acquisitions under the Maine Revised Statutes, Title 5, chapter 353, except that use of the proceeds of these bonds is subject to the following conditions and requirements.

1. Hunting, fishing, trapping and free public access may not be prohibited on land acquired with bond proceeds, except as restricted by applicable state or federal laws.

2. Before any bond proceeds are expended, they must be matched with at least $25,000,000 in private contributions. Matching contributions may not include the value of project- related in-kind contributions of goods and services.

3. Ten percent of the bond proceeds must be transferred to the Boating Facilities Fund established in Title 12, section 1896.

4. Except as provided in Title 5, section 6208-A, land may not be purchased in any community without an affirmative vote of the legislative body of the municipality or municipalities in which the land is located.