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EXHIBIT B <br />NOTICE OF CALL FOR REDEMPTION <br />GENERAL OBLIGATION WATER REVENUE BONDS, SERIES 19988 <br />CITY OF ELK RIVER, SHERBURNE COUNTY, MINNESOTA <br />NOTICE IS HEREBY GIVEN that by order of the City Council of the City of Elk River, <br />Sherburne County, Minnesota, there have been called for redemption and prepayment on <br />March 1, 2008 <br />those outstanding bonds of the City designated as General Obligation Water Revenue Bonds, <br />Series 19988, dated as of December 1, 1998, having stated maturity dates in the years 2009 <br />through 2014, inclusive, and totaling $395,000 in principal amount and having CUSIP numbers <br />listed below: <br />Year CUSIP Number* <br />2009 <br />2010 <br />2011 <br />2012 <br />2013 <br />2014 <br />The bonds are being called at a price of par plus accrued interest to March 1, 2008, on which <br />date all interest on the bonds will cease to accrue. Holders of the bonds hereby called for <br />redemption are requested to present their bonds for payment, at U.S. Bank National Association, <br />Attention: Paying Agent Services, 60 Livingston Avenue, St. Paul, Minnesota 55107. <br />Dated: January 22, 2008 BY ORDER OF THE CITY COUNCIL <br />/s/ ,City Clerk <br />*The City shall not be responsible for the selection of or use of the CUSIP numbers, nor is any <br />representation made as to their correctness indicated in the notice. They are included solely for <br />the convenience of the holders. <br />2116001v1 B-1 <br />