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. . . written instruction from time to time provided by the Offeror or other holder of the Certificates. 2.2) The Certificates shall not be subject to redemption before maturity. 2.3) The Certificates shall be in substantially the following form: Registered No. Registered Amount $ UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF SHERBURNE CITY OF ELK RIVER 1992 GENERAL OBLIGATION EQUIPMENT CERTIFICATE KNOW ALL MEN BY THESE PRESENTS that the City of Elk River, a duly organized and existing municipal corporation of the County of Sherburne, State of Minnesota, acknowledges itself to be indebted and for value received promises to pay to the order of , or regist-ered assigns (the Holder), the principal sum of Dollars ($ ), payable without option of prior payment, in installments as follows: Date (As to the Certificate February 1, 1993 February 1, 1994 Amount of Principal Payment in the Principal Amount of $40,400) $ $ (As to the Certificate February 1, 1995 February 1, 1996 February 1, 1997 in the Principal Amount of $60,600) $ $ $ together with interest from the date on which the funds are advanced at a rate of five and one quarter percent (5.25%) per annum, calculated upon the amount of the unpaid principal balance existing from time to time. Installments of interest shall be payable semi-annually on February I and August I in each year, commencing February 1, 1993. Both principal and interest are payable at the offices of the Holder at Elk River, Minnesota, or, at such place as may be designated from time to time by written notice given to the City by the holder of this Certificate. 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.