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February 1, 1992 February 1, 1993 $ $--- e 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 $________ UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF SHERBURNE CITY OF ELK RIVER 1991 GENERAL OBLIGATION EQUIPMENT CERTIFICATE e KNOW ALL MEN BY THESE PRESENTS that the City of Elk river, a duly organized and existing municipal corporation of the County of Sherburne, State of Minnesota, acknowledges itself to be indebted and for value received promises to pay to the order of ____________ _, or registered assigns (the Holder), the principal sum of ___________ _______ Dollars ($_____________), payable, without opt ion of prior payment, in installments as follows: Dfl t_~ AmmJJlt_-9J'__P-J;:JJu::iJ;>Q,l_J>_c:!YIJ!EE!tt (As to the Certificate in the Principal Amount of ~4j~PO) (As to the Certificate February 1, 1994 February 1, 1995 February 1, 1996 in the Principal Amount of j~~~QQQ) $- $-.--- $ together with interest from the date on which the funds are advanced at a rate of six and one quarter percent (6.25%) 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 1 and August 1 in each year, commencing February 1, 1992. tit 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.