PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 1397

$60,000 for the acquisition of land and erection thereon of
two State Armories at a cost not exceeding $30,000 each for the
First Regiment Maryland National Guard;

$200,000 for the acquisition of land and toward the erection
thereon of a State Armory for the Fourth Regiment Maryland
National Guard;

SEC. 2. And be it further enacted, That in order to provide
for the expenditures to be incurred for the purposes set forth
in Section 1 hereof, a loan is hereby created, to be called the
"State Omnibus Loan of 1914" in the amount of $950,000 said
loan to be dated August 1st, 1914, and to bear interest at a rate
to be fixed by the Governor. Comptroller of the Treasury and
Treasurer of this State, or a majority of them, not to exceed
four per centum per annum, payable on the first days of August
and February of each year, and the said loan and every part
thereof, and the interest payable thereon, shall be and remain
exempt from State, County and municipal taxation; and the
principal amount of said loan shall be payable upon the Serial
Annuity Plan, herein below specified, and all within fifteen
years after the issuance thereof.

SEC. 3. And be it further enacted, That in issuing the bonds
or certificates of indebtedness for said loan as herein provided,
the Governor, the Comptroller of the Treasury and the Treas-
urer of this State, or a majority of them, shall issue said bonds
or certificates of indebtedness according to what is known as
the Serial Annuity Plan, and each series shall be lettered,
redeemable and in the amount as set forth in the following
table:

Series :	Amount :	Date of Redemption:
"A"	$57,000	Aug. 1, 1917
"B"	$60,000	Aug. 1, 1918
"C"	$62,000	Aug. 1, 1919
"D"	$64,000	Aug. 1, 1920
"E"	$67,000	Aug. 1, 1921
"F"	$70,000	Aug. 1, 1922
"G"	$72,000	Aug. 1, 1923
"H"	$75,000	Aug. 1, 1924
"I"	$78,000	Aug. 1, 1925
"J"	$81,000	Aug. 1, 1926
"K"	$85,000	Aug. 1, 1927
"L"	$88,000	Aug. 1, 1928
"M"	$91,000	Aug. 1, 1929