PORTLAND — A bipartisan coalition of mayors on Monday will unveil an $85 million bond proposal to fund economic development initiatives, the group said in a press release.

The Mayor’s Coalition, along with Sen. Roger Katz, the bill sponsor, will unveil their proposal at a press conference at Augusta City Hall.

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Most of the bond package – $55 million – would support education, research and development.

Another $20 million would fund transportation projects, including $10 million for railroad infrastructure.

The remaining $10 million would fund water and wastewater improvements.

The bond proposal would need legislative approval before going before voters.

The Mayor’s Coalition includes mayors from 12 communities – from Bangor to Sanford, including Portland.

The bipartisan group was established to support state policies that grow the economy and oppose policies that would shift costs to municipalities.