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EXHIBIT B <br /> UNITED STATES OF AMERICA <br /> STATE OF MINNESOTA <br /> COUNTY OF SHERBURNE <br /> CITY OF ELK RIVER <br /> ELECTRIC REVENUE BOND, SERIES 2018A <br /> No $ <br /> Interest Rate Maturity Date Date of Original Issue CU SIP <br /> August 1, , 2018 <br /> REGISTERED OWNER: CEDE& CO. <br /> PRINCIPAL AMOUNT: <br /> THE CITY OF ELK RIVER, Sherburne County, Minnesota (the "City"), acknowledges <br /> itself to be indebted and, for value received, hereby promises to pay to the registered owner <br /> specified above, or registered assigns, the principal amount specified above, on the maturity date <br /> specified above, with interest thereon from the date of original issue specified above or from the <br /> most recent interest payment date to which interest has been paid or duly provided for, at the <br /> annual rate specified above. Interest hereon is payable on February 1 and August 1 in each year, <br /> commencing February 1, 2019, to the person in whose name this Series 2018A Bond is <br /> registered at the close of business on the 15th day (whether or not a business day) of the <br /> immediately preceding month. The principal of and premium, if any, on this Series 2018A Bond <br /> are',payable upon presentation and surrender hereof at the principal office of U.S. Bank National <br /> Association, in St. Paul, Minnesota (the "Bond Registrar"), acting as paying agent, or any <br /> successor paying agent duly appointed by the City. Interest on this Series 2018A Bond will be <br /> paid on each Interest Payment Date by check or draft mailed to the person in whose name this <br /> Series 2018A Bond is registered (the "Holder" or"Bondholder") on the registration books of the <br /> City maintained by the Bond Registrar and at the address appearing thereon at the close of <br /> business on the 15th day of the calendar month next preceding such Interest Payment Date (the <br /> "Regular Record Date"). Any interest not so timely paid shall cease to be payable to the person <br /> who is the Holder hereof as of the Regular Record Date, and shall be payable to the person who <br /> is the Holder hereof at the close of business on a date (the Special Record Date) fixed by the <br /> Bond Registrar whenever money becomes available for payment of the defaulted interest. <br /> Notice of the Special Record Date shall be given to Bondholders not less than 10 days prior to <br /> the Special Record Date. The principal of and premium, if any, and interest on this Series 2018A <br /> Bond are payable in lawful money of the United States of America. So long as this Series <br /> 2018A Bond is registered in the name of the Depository or its Nominee as provided in the <br /> Resolution hereinafter described, and as those terms are defined therein, payment of principal of, <br /> premium, if any, and interest on this Series 2018A Bond and notice with respect thereto shall be <br /> 531773v2 JSB EL185-55 B-1 <br />