HARRY W. NICE, GOVERNOR. 725

($900, 000) shall be dated June 15th, 1938. Said loan shall
bear interest at a rate to be fixed by the Governor, the Comp-
troller of the Treasury and the Treasurer of the State, or a
majority of them, not to exceed 4%% per annum, and said
interest shall be paid semi-annually, and the said loan and
every part thereof and the interest payable thereon shall be
and remain exempt from State, county and municipal taxa-
tion, and the principal amount of said loan shall be paid upon
the serial annuity plan hereinbelow specified and all within
fifteen years after the issuance thereof.

SEC. 2. And be it further enacted, That in issuing the Cer-
tificates of Indebtedness for said loan as herein specified in
Section 1, the Governor, the Comptroller of the Treasury and
the Treasurer of this State, or a majority of them, shall issue
said Certificates according to what is known as the Serial
Annuity plan, and each series as issued shall be lettered, be
ginning with the letter "A", and so on down the alphabet
until the entire amount of One Million Dollars ($1, 000, 00. 00)
shall have been issued so that the entire principal shall be
redeemable as follows:

Series Amount Redeemable

"A"..................... $6, 000 June 15, 1940

"B"..................... 6, 000 June 15, 1941

"C"...................... 7, 000 June 15, 1942

"D"..................... 7, 000 June 15, 1943

"E"..................... 8, 000 June 15, 1944

"P"..................... 8, 000 June 15, 1945

"G"..................... 8, 000 June 15, 1946

"H"..................... 8, 000 June 15, 1947

"T"...................... 8, 000 June 15, 1948

"J"...................... 8, 000 June 15, 1949

"K"..................... 8, 000 June 15, 1950

"L"..................... 9, 000 June 15, 1951

"M"..................... 9, 000 June 15, 1952

$900, 000. 00 of said loan, bearing date of 15th day of June,
1938, shall be redeemable as follows:

"N".................... $58, 000 June 15, 1941

"O".................... 59, 000 June 15, 1942

"P".................... 61, 000 June 15, 1943

"Q".................... 63, 000 June 15, 1944

"R".................... 65, 000 June 15, 1945

"S"..................... 67, 000 June 15, 1946

"T".................... 69, 000 June 15, 1947

"U".................... 71, 000 June 15, 1948

"V".................... 73, 000 June 15, 1949