EMERSON C. HARRINGTON, GOVERNOR. 231

CHAPTER 141.
Joint Resolution No. 3.

CHAPTER 142.

AN ACT to provide for the issue and sale of certificates of in- '
debtedness of the State of Maryland to the amount of Two
Million ($2, 000, 000) dollars, the proceeds thereof to be
used for the payment of appropriations heretofore made by
the General Assembly of Maryland to meet which there are
not sufficient funds in the general treasury of the State.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That in order to provide for the payment of appropria-
tions heretofore made by the General Assembly of Maryland
to meet which there are not sufficient funds in the general
treasury of the State, an additional loan be and the same is
hereby created, to be known as '' The Treasury Relief Loan of
1916, " to the amount of Two Million ($2, 000, 000) dollars. Said
loan shall be dated the first day of August, 1916, and shall
bear interest at a rate to be fixed by the Governor, Comptroller
of the Treasury and Treasurer of the State, or a majority of
them, not to exceed four per centum per annum, and the said
interest shall be payable semi-annually. The said loan and
every part thereof, and the interest. payable thereon, shall be
and remain exempt from State, County and Municipal taxa-
tion. 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. 2. And be it further enacted, That in issuing the certificates
of indebtedness for said loan as herein provided in Section 1,
the Governor, the Comptroller of the Treasury and the Treas-
urer of the State, or a majority of them, shall issue said cer-
tificates according to what is known as the Serial Annuity Plan,
and each series as issued shall be lettered, beginning with the
letter " A, " and so on down the alphabet until the amount of
two million ($2, 000, 000) dollars shall have been issued, so that
the entire principal shall be redeemable as follows:

Series "A, " $120, 000—August 1, 1919.

Series "B, " $125, 000—August 1, 1920.

Series "C, " $130, 000—August 1, 1921.