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. . . . ; [Face of the Bonds] UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF SHERBURNE CITY OF ELK RIVER GENERAL OBLIGATION TEMPORARY IMPROVEMENT BOND, SERIES 1992C ~ Maturity Date of Oriqinal Issue CUSIP September 1, 1992 REGISTERED OWNER: PRINCIPAL AMOUNT: DOLLARS. KNOW ALL PERSONS BY THESE PRESENTS that City of Elk River, 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 amount specified above on the maturity date specified above, unless called for earlier redemption, with interest thereon from the date hereof at the annual rate specified above (calculated on the basis of a 360-day year of twelve 30-day months), payable on February 1 and August 1 in each year, commencing August I, 1993 (the Interest Payment Dates), until the principal sum is paid or has been provided for. The principal of and premium, if any, on this Bond are payable upon presentation and surrender hereof at the principal office of First Trust National Assocjat~on, a national banKing association duly organized and validly ex~sting under the laws of . the United States of America (the Registrar), acting as paying agent, or any successor paying agent duly appointed by the City. Interest on this Bond will be paid on each Interest Payment Date by check or draft mailed to the registered owner at the address appearing on the bond register maintained by the Registrar at the close of business on the 15th day, whether or ~ot a business day, of the calendar month next preceding such Interest Payment Date. The principal of and premium, if any, and interest on this Bond are payable in lawful money of the United States of America. 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. IT IS HEREBY CERTIFIED, RECITED, COVENANTED, AND AGREED that all acts, conditions, and things required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen, and to be performed prior to and in the issuance of this Bond, in order to make it a valid and binding general obligation of the 7.