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ALBERT C. RITCHIE, GOVERNOR. 743
hereby created to be known as the "Baltimore-Southern Mary-
laud Trunk Line Road Loan of 1922," to the amount of one
million dollars ($1,000,000). Two hundred and fifty thousand
dollars ($250,000) of said loan shall be dated the 15th day of
August, 1922; two hundred and fifty thousand dollars ($250,-
000) shall be dated August 15, 1923; two hundred and fifty
thousand dollars ($250,000) shall be dated August 15, 1924;
and two hundred and fifty thousand dollars ($250,000) shall
be dated August 1,5, 1925. Said loan shall bear interest at a
rate to be fixed by the Governor of the State, the Comptroller
of the Treasury and the Treasurer of the State, or a majority
of them, not to exceed four and one-half (4 1/2%) per centum
per annum, and the said interest shall be paid semi-annually,
and the said loan and every part thereof, and the interest pay-
able thereon, shall be and remain exempt from State, county
and municipal taxation, and the principal amount of said loan
shall be paid upon the serial annuity plan hereinbelow speci-
fied, 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 provided in Sec-
tion 1, the Governor, the Comptroller of the Treasury and the
Treasurer of the State, or a majority of them, shall issue said
certificates according to what is known as a serial annuity
plan, and the series as issued shall be lettered beginning with
the letter "A," and so on down the alphabet until the said
amount of one million dollars ($1,000,000) shall have been
issued, so that the entire principal sum shall be redeemable as
follows:
Two hundred and fifty thousand dollars ($250,000) of said
loan bearing date of August 15, 1922, shall be redeemable as
follows:
Series. Amount. Redeemable.
A $14,000.00 August 15, 1925
B 15,000.00 August 15, 1926
C 16,000.00 August 15, 1927
D 16,000.00 August 15, 1928
E 17,000.00 August 15, 1929
F 18,000.00 August 15, 1930
G 19,000.00 August 15, 1931
H 20,000.00 August 15, 1932
I 21,000.00 August 15, 1933
J 22,000.00 August 15, 1934
K 23,000.00 August 15, 1935
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