6. The sum of $25,000,000 to provide direct support to businesses in the State;

7. The sum of $12,000,000 for affordable housing; and

8. The sum of $25,000,000 for University of Maine research and development activities."

The legal voters of each city, town and plantation shall vote by ballot on this question and designate their choice by a cross or check mark placed within a corresponding square below the word "Yes" or "No." The ballots must be received, sorted, counted and declared in open ward, town and plantation meetings and returns made to the Secretary of State in the same manner as votes for members of the Legislature. The Governor shall review the returns and, if a majority of the legal votes are cast in favor of this Act, the Governor shall proclaim the result without delay, and this Act becomes effective 30 days after the date of the proclamation.

The Secretary of State shall prepare and furnish to each city, town and plantation all ballots, returns and copies of this Act necessary to carry out the purposes of this referendum.

SUMMARY

The funds provided by this bond issue, in the amount of $120,000,000, will be used to stimulate economic development in the state through investments in research and development, municipal infrastructure and affordable housing and direct business support in the State as follows:

1. The sum of $15,000,000 to create jobs and reduce property taxes by providing grants and loans to municipalities for public facilities and infrastructure;

2. The sum of $10,000,000 for medical research and development by Maine-based biomedical research institutions;

3. The sum of $5,000,000 to support the State's applied development technology centers;

4. The sum of $22,000,000 to partner with the marine biotechnology industry to undertake marine biotechnology research;