AUGUSTA — Mainers will vote June 13 on a $50 million bond issue for economic development.

Most of the borrowing – $45 million – would be earmarked for infrastructure, equipment and technology upgrades in seven targeted sectors, including aquaculture, forestry, agriculture and composite materials.

That money would be administered by the Maine Technology Institute and would have to be matched on a one-to-one basis with federal or other funds. The other $5 million in the bond package would be given to small businesses showing potential for growth and public benefit.

The bond passed with just 10 votes against it in the House of Representatives. Gov. Paul LePage signed it into law contingent on the June vote, even though he vetoed a similar $20 million bond proposed by the Legislature, arguing it should have been funded through appropriations and not borrowing.

State Treasurer Terry Hayes estimated the state will pay nearly $14 million in interest to borrow the money. The Legislature could just appropriate $50 million, but would have to find the money; borrowing allows the state to pay the money back over time.

— Bangor Daily News