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r <br />changes as may be necessary to reflect more than one maturity in a single temporary bond. Upon <br />the execution and delivery of the definitive Bond the temporary Bond will be exchanged therefor <br />and cancelled. <br />Section 4. Form of Bond. <br />4.01. Execution of the Bonds. The Bond will be printed or typewritten in substantially <br />the following form: <br />No. R- <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF SHERBURNE <br />CITY OF ELK RIVER <br />GENERAL OBLIGATION CAPITAL IMPROVEMENT <br />PLAN BOND, SERIES 2012A <br />Date of <br />Rate Maturity Original Issue CUSIP <br /> <br />• <br />February 1, 20_ March 15, 2012 <br />Registered Owner: Cede & Co. <br /> <br />The City of Elk River, Minnesota, a duly organized and existing municipal corporation in <br />Sherburne County, Minnesota (the "City"), acknowledges itself to be indebted and for value <br />received hereby promises to pay to the Registered Owner specified above, or registered assigns, <br />the principal sum of $ on the maturity date specified above, payable February 1 and <br />August 1 in each year, commencing February 1, 2013, to the person in whose name this Bond is <br />registered at the close of business on the fifteenth day (whether or not a business day) of the <br />immediately preceding month. The interest hereon and, upon presentation and surrender hereof, <br />the principal hereof are payable in lawful money of the United States of America by check or <br />draft by U.S. Bank National Association, St. Paul, Minnesota, as Bond Registrar, Paying Agent, <br />Transfer Agent and Authenticating Agent, or its designated successor under the Resolution <br />described herein. For the prompt and full payment of such principal and interest as the same <br />respectively become due, the full faith and credit and taxing powers of the City have been and <br />axe hereby irrevocably pledged. <br />The City may elect on February 1, 2021, and on any day thereafter to prepay Bonds due <br />on or after February 1, 2022. Redemption may be in whole or in part and if in part, at the option <br />of the City and in such manner as the City will determine. If less than all Bonds of a maturity are <br />called for redemption, the City will notify DTC of the particular amount of such maturity to be <br />prepaid. DTC will determine by lot the amount of each participant's interest in such maturity to <br />398211v3 JSB EL185-15 '~ <br />