8.1. SR 08-19-2019 - Laserfiche WebLink

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EXHIBIT B No. R-_____ UNITED STATES OF AMERICA $_________ STATE OF MINNESOTA COUNTY OF SHERBURNE CITY OF ELK RIVER, MINNESOTA GENERAL OBLIGATION SALES TAX REVENUE BOND SERIES 2019A Date of Rate Maturity Original Issue CUSIP December 1, 20__ September 19, 2019 Registered Owner: Cede & Co. The City of Elk River, Minnesota, a duly organized and existing municipal corporation in Sherburne County, Minnesota (the “City”), acknowledges itself to be indebted and for value received hereby promises to pay to the Registered Owner specified above or registered assigns, the principal sum of $__________ on the maturity date specified above, with interest thereon from the date hereof at the annual rate specified above, payable June 1 and December 1 in each year, commencing June 1, 2020, to the person in whose name this Bond is registered at the close of business on the fifteenth day (whether or not a business day) of the immediately preceding month. The interest hereon and, upon presentation and surrender hereof, the principal hereof are payable in lawful money of the United States of America by check or draft by U.S. Bank National Association, St. Paul, Minnesota, as Registrar, Paying Agent, Transfer Agent and Authenticating Agent, or its designated successor under the Resolution described herein. For the prompt and full payment of such principal and interest as the same respectively become due, the full faith and credit and taxing powers of the City have been and are hereby irrevocably pledged. The may elect on December 1, 2028, and on any day thereafter to prepay Bonds due on or after December 1, 2029. Redemption may be in whole or in part and if in part, at the option of the City and in such manner as the City will determine. If less than all Bonds of a maturity are called for redemption, the City will notify The Depository Trust Company (“DTC”) of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant’s interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a price of par plus accrued interest. This Bond is one of an issue in the aggregate principal amount of $33,735,000 all of like original issue date and tenor, except as to number, maturity date, redemption privilege, and interest rate, issued pursuant to a resolution adopted by the City Council on August 19, 2019 (the “Resolution”), for the purpose of providing money to aid in financing the cost of the certain capital projects, including the acquisition and betterment of ice arena improvements, community meeting and activity space, a 603216v1EL185-44 B-1