786 LAWS OF MARYLAND. [CH. 263

SECTION 1. Be it enacted by the General Assembly of
Maryland, That in order to provide for the deficit in construct-
ing and equipping the new building of Charlotte Hall School,
in St. Mary's County, including the installation of water, sew-
erage and lighting systems, a loan is hereby created to be
known as "Charlotte Hall School Loan of 1929, " to the amount
of Fifty Thousand Dollars ($50, 000. 00). The said loan shall
be dated the first day of August, 1929. The 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
per centum 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 herein
below specified, 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
Section 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 fifty thousand dollars ($50, 000. 00) shall have been
issued, so that the entire principal sum shall be redeemable
as follows:

	Series "A"............. "B"............. "C"............. "D"............. "E"............. "F" "G"............. "H"............. "I"............. "J"............. "K"............. "L"............. "M".............	Amount $3, 000. 00 3, 000. 00 3, 000. 00 3 000. 00 3, 000. 00 4, 000. 00 4, 000. 00 4, 000. 00 4, 000. 00 4, 000. 00 5, 000. 00 5, 000. 00 5, 000. 00	Redeemable August 1, 1932 August 1, 1933 August 1, 1934 August 1, 1935 August 1, 1936 August 1, 1937 August, 1, 1938 August 1, 1939 August 1, 1940 August. 1, 1941 August 1, 1942 August 1, 1943 August 1, 1944