Worcester Democrat and the ledger-enterprise. (Pocomoke City, Md.) 1921-1953, 1922-07-22
PUBLIC GENERAL LAWS


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 here
matter specified, and all within four
teen 1D years after the issuance
thereof
Sec. A. And be it further enacted,
That in issuing the certificates of
indebtedness for said loan as herein
provided in Section 5, the Governor,
the Comptroller of the Treasury and
the Treasurer of this State, or a ma
jority of them, shall issue said certif-
Gates 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 down the
alphabet until the said amount of
seven hundred thousand dollars ($7OO,-
000) or so much thereof as it may be
necessary to issue shall have been
issued, SO that the entire principal
shall be redeemable as follows:
Series A-S5O,O0O / year from date
fixed for said loan.
Series B-$5O,OOO years from date
fixed for said loan.
Series C-$5O,OO0 years from date
liked for said loan.
Series D-$50,000 4 years from date
fixed for said loan.
Series E-$50,O0O years from date
fixed for said loan.
Series F-$5O,OOO years from date
fixed for said loan.
Series G-$5O,0OO years from date
fixed for said loan.
Series H-$50,0OO years from date
fixed for said lean.
Series $4,000 9 years from date
fixed for said loan.
Series 100000 10 years from date
fixed for said loan,
Series K-$50,0Q0 II years from date
fixed for said loan.
Series I-$5O,000 II years from date
fixed for said loan.
Series M-$5O,OOO IS years from date
fixed for said loan.
Series N-$5O,OOO II years from date
fixed for said loan.
SEC. 5. And be it further enacted,
That the Governor, Comptroller OF
the Treasury and Treasurer, consti-
tuting the Board of Public Works,
or majority of them, are hereby
authorized and directed to have pre-
pared proper certificates of indebted
ness of the State in good and sufIi-
cient form to aggregate the amount
of seven hundred thousand dollars
! ($700, 000.00), or so much hereof
as may be necessary for the purpose
of this Act, as evidence of such loan;
such certificates Of Indebtedness
shall bear date as of the time Of
their issue as provided in Section 3
of this Act, and shall not be issued
in less sums than one hundred dol
lars ($100.00) or any multiple
thereof. Each of said certificates
shall be signed by the Treasurer of
the State and countersigned by the
Comptroller of the Treasury, and
shall bear interest at the rate fixed
by resolution of said Board of Pub
lie Works, payable semi-annually,
and portion or all of said certifi-
Gates may be registered, and the said
certificates, or any portion thereof,
shall have interest coupons attached,
| ali do inc hONtIEOlJ NOlupIlOll6t VI
the Treasury and Treasurer or a ma
jorty Of them, shall determine.
Sec. 6. And be it further enacted,
That in order to provide for the sell
ing of the certificates of indebted
ness aforesaid, to be issued under
the provisions of this Act, the Gov
ernor, Comptroller of the Treasury
and the Treasurer of this State, or
a majority of them, are hereby di-
rected to advertise twice a week for
four successive weeks before the
said certificates of Indebtedness, or
any part thereof, shall be issued, in
two newspapers published in the city
of Baltimore, that the Treasurer of
this State will be in readiness at a
time within (15) days after the ex-
piration of said notice to receive bids
at such place or places may be named
in said respective advertisements