ALBERT C. RITCHIE, GOVERNOR. 829

shall be dated the 15th day of August, 1926. 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 four and one-half per cent.
(4½%) per annum, and the said interest shall be paid semi-
annually, and the said loan and every part thereof and the in-
terest payable 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 hereinbe-
low 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 Sec-
tion 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, beginning with
the letter A, and so on down the alphabet until the entire
amount of two million, four hundred and sixty thousand dol-
lars ($2, 460, 000) shall have been issued, so that the entire prin-
cipal shall be redeemable as follows:

$378, 000 of said loan, bearing date the 15th day of August,
1924, shall be redeemable as follows:

Series A........... $22, 000........... August 15, 1927

Series B........... 23, 000........... August 15, 1928

Series C........... 24, 000........... August 15, 1929

Series D........... 25, 000........... August 15, 1930

Series E........... 26, 000........... August 15, 1931

Series F........... 28, 000........... August 15, 1932

Series G........... 29, 000........... August 15, 1933

Series H........... 30, 000........... August 15, 1934

Series I........... 31, 000........... August 15, 1935

Series J........... 33, 000........... August 15, 1936

Series K........... 34, 000........... August 15, 1937

Series L........... 36. 000........... August 15, 1938

Series M........... 37, 000........... August 15, 1939

$275, 000 of said loan, bearing date the 15th day of Feb-
ary, 1925, shall be redeemable as follows:

Series N........... $15, 000......... February 15, 1928

Series O........... 17, 000......... February 15, 1929

Series P........... 18, 000......... February 15, 1930

Series Q........... 18, 000......... February 15, 1931