Sec. A-3. Sale; how negotiated; proceeds appropriated. The Treasurer of State may negotiate the sale of the bonds by direction of the Governor, but no bond may be loaned, pledged or hypothecated on behalf of the State. The proceeds of the sale of the bonds, which must be held by the Treasurer of State and paid by the Treasurer of State upon warrants drawn by the State Controller, are appropriated solely for the purposes set forth in this Part. Any unencumbered balances remaining at the completion of the project in this Part lapse to the debt service account established for the retirement of these bonds.

Sec. A-4. 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-5. Disbursement of bond proceeds. The proceeds of the bonds must be expended as set out in this Part under the direction and supervision of the Department of Tourism, Economic and Community Development, the University of Maine System, the Department of Agriculture, Food and Rural Resources and the Maine State Housing Authority.

Sec. A-6. Allocations from General Fund bond issue. The proceeds of the sale of the bonds must be expended as designated in the following schedule.

Tourism, Economic and Community Development,

Department of

Recapitalize the Municipal Investment Trust $6,000,000

Fund to provide grants and loans to

municipalities for public facilities

and infrastructure.

University of Maine System - University of Maine

Provide funds for the Advanced Engineered $6,000,000

Wood Composites Center to expand research

facilities for engineered wood composite

structures.