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CONTINUING DISCLOSURE <br />In accordance with SEC Rule 15c2 -12(b)(5), the City and the Commission will undertake, pursuant to the <br />resolution awarding sale of the Bonds, to provide annual reports and notices of certain events. A <br />description of this undertaking is set forth in the Official Statement. The Purchaser's obligation to <br />purchase the Bonds will be conditioned upon receiving evidence of this undertaking at or prior to delivery <br />of the Bonds. <br />OFFICIAL STATEMENT <br />The City and the Commission has authorized the preparation of a Preliminary Official Statement <br />containing pertinent information relative to the Bonds, and said Preliminary Official Statement has been <br />deemed final by the City and the Commission as of the date thereof within the meaning of Rule 15c2-12 <br />of the Securities and Exchange Commission. For copies of the Preliminary Official Statement or for any <br />additional information prior to sale, any prospective purchaser is referred to the Municipal Advisor to the <br />City and the Commission, Springsted Incorporated, 380 Jackson Street, Suite 300, Saint Paul, Minnesota <br />55101, telephone (651) 223-3000. <br />A Final Official Statement (as that term is defined in Rule 15c2-12) will be prepared, specifying the <br />maturity dates, principal amounts, and interest rates of the Bonds, together with any other information <br />required by law. By awarding the Bonds to the Purchaser, the Commission agrees that, no more than <br />seven business days after the date of such award, it shall provide without cost to the Purchaser up to <br />25 copies of the Final Official Statement. The Commission designates the Purchaser as its agent for <br />purposes of distributing copies of the Final Official Statement to each syndicate member, if applicable. <br />The Purchaser agrees that if its proposal is accepted by the Commission, (i) it shall accept designation and <br />(ii) it shall enter into a contractual relationship with its syndicate members for purposes of assuring the <br />receipt of the Final Official Statement by each such syndicate member. <br />Dated July 10, 2018 <br />A-6 <br />529086V I JSB EL185-55 <br />BY ORDER OF THE ELK RIVER MUNICIPAL <br />UTILITIES COMMISSION <br />/s/ Theresa Slominski <br />Finance and Office Manager <br />