ALBERT C. RITCHIE, GOVERNOR. 1017

five hundred thousand ($500,000 ) dollars cf said loan shall be
dated the 15th day of August, 1922; five hundred thousand
($500,000 ) dollars of said loan shall Le dated the 15th day of
February, 1923, and the remaining seven hundred and fifty
Thousand dollars ($750,000). shall be dated the 15th day of
August, 1923. Said loan shall bear interest at a rate to be
fixed by the Governor, the Comptroller of the Treasury and
the Treasurer of the State, or a majority of them, not to exceed
four and one-half per cent. (41/2%} per annum, and the 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 annu-
ity plan, and each series as issued shall be lettered, beginning
with the letter A, and so on down the alphabet until the entire
amount of one million seven hundred and fifty thousand
($1,750,000) dollars shall have been issued, so that the entire
principal shall be redemable as follows:

$500,000 of said loan, bearing date the 15th day of August,
1922, shall be redeemable as follows:

Series A ...........$29,000............August 15, 1925

Series B .......... 30,000............August 15, 1926

Series C .......... 32,000.......... August 15,1927

Series D .......... 33,000...........August 15, 1928

Series E .......... 35,000............August 15, 1929

Series F .......... 36,000............August 15, 1930

Series G .......... 38,000............August 15, 1931

Series H .......... 40,000............August 15, 1932

Series I .......... 42,000............August 15, 1933

Series J .......... 44,000.......... August 15, 1934

Series K .......... 45,000............August 15, 1935

Series L .......... 47,000.......... August 15, 1936

Series M........... 49,000............August 15,1937

$500,000 of said loan, bearing date the 15th day of Febru-
ary, 1923, shall be redeemable as follows: