1452 LAWS OF MARYLAND. [CH. 666

diate preservation of the public safety and health, and being
passed upon a yea and nay vote supported by three-fifths of
all the members elected to each of the two Houses of the
General Assembly, the same shall take effect from the date of
its passage.

Approved April 26, 1927.

CHAPTER 666.

AN ACT to authorize the creation of a State debt in the
aggregate amount of one hundred and twenty-five thousand
dollars ($125,000), the proceeds thereof to be used for the
construction and equipment of an industrial science build-
ing at Morgan College, and providing generally for the
issue and sale of certificates of indebtedness evidencing
such loan.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That, in order to provide for the construction and equip-
ment of an Industrial Science Building, at Morgan College, a
loan is hereby created to be known as the "Morgan College Loan
of 1929," to the amount of one hundred and twenty-five thou-
sand dollars: ($125,000). The said loan shall be dated the
first day of July, 1929, and 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 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, all within fifteen years after the issuance thereof.

SEC. 2. And be it further enacted, That in issuing the
the certificates of indebtedness for said loan as herein pro-
vided in Section 1, the Governor, the Comptroller of the Treas-
ury 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