ALBERT C. RITCHIE, GOVERNOR. 637

"General Construction Loan of 1927, " in the aggregate sum
of four million, three hundred and seventy-five thousand dollars
($4, 375, 000); one million, six hundred and forty thousand
dollars ($1, 640, 000) of said loan shall be dated the 15th day
of August, 1927; one million, eight hundred and fifteen thou-
sand dollars ($1, 81, 5, 000) of said loan shall be dated the 15th
day of February, 1928, and the remaining nine hundred
and twenty thousand dollars ($920, 000) of said loan 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, (4 1/2%) 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 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 certi-
ficates 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 four million, three hundred and seventy-five thou-

sand dollars ($4, 375, 000) shall have been issued, so that the
entire principal shall be redeemable as follows:

$1, 640, 000 of said loan, bearing date the 15th day of Au-
gust, 1927, shall be redeemable as follows:

Series A .......... $ 96, 000 August 15, 1930

Series B .......... 100, 000 August 15, 1931

Series C .......... 104, 000 August 15, 1932

Series D .......... 109, 000 August 15, 1933

Series E .......... 114, 000 August 15, 1934

Series F .......... 119, 000 August 15, 1935

Series G .......... 125, 000 August 15, 1936

. Series H .......... 130, 000 August 15, 1937

Series I .......... 136, 000 August 15, 1938

Series J .......... 142, 000 August 15, 1939

Series K ........... 148, 000 August 15, 1940

Series L ........... 155, 000 August 15, 1941

Series M ........ 162, 000 August 15, 1942