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IN WITNESS WHEREOF, the City of Elk River,SherburneCounty, Minnesota, by the <br />Commission, has caused this Bond to be executed on its behalf by thefacsimile or manual <br />signatures of the President and Secretary of the Commission and the Mayor and Clerkand has <br />caused this Bond to be dated as of the date set forth below. <br />Date of Registration:Registrable by: U.S. BANK NATIONAL ASSOCIATION <br />Payable at: U.S. BANK NATIONAL ASSOCIATION <br />June 10, 2021 <br />CITY OF ELK RIVER, <br />SHERBURNE COUNTY, MINNESOTA <br />BOND REGISTRARS <br />CERTIFICATE OF <br />/s/ Facsimile <br />AUTHENTICATION <br />Mayor <br />ThisBondis one of theBonds <br />described in theResolution mentioned /s/ Facsimile <br />within.Clerk <br />ELK RIVERMUNICIPAL UTILITIES COMMISSION, <br />U.S. Bank National Association,in St. <br />SHERBURNE COUNTY, MINNESOTA <br />Paul, Minnesota <br />Bond Registrar <br />/s/ Facsimile <br />President <br />By: <br />Authorized Signature <br />/s/Facsimile <br />Secretary <br />B-5 <br />EL185-69-713323.v2 <br />57 <br />