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8. Form of Bond. The Bonds, together with the Bond <br />Registrar's Certificate of Registration, shall be in <br />substantially the following form: <br /> <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br /> COUNTY OF SHERBURNE <br /> CITY OF ELK RIVER <br /> <br />R- $ <br /> <br /> GENERAL OBLIGATION ICE <br />ARENA BOND, SERIES 1996C <br /> <br /> KNOW ALL BY THESE PRESENTS that the City-of Elk River, <br />Sherburne County, Minnesota, acknowledges itself to be indebted <br />and, for value received, hereby promises to pay to <br /> , or its registered assigns '(the "Registered <br />Owner"), the Principal Sum of HUNDRED <br />THOUSAND DOLLARS ($ ) on December 1 in the years and <br />principal amounts, respectively, as follows: <br /> <br />Year <br /> <br />1997 <br />1998 <br />1999 <br />'2000 <br />2001 <br />2002 <br />2003 <br />2004 <br />2005 <br />2006 <br />2007 <br />2008 <br />2009 <br />2010 <br />2011 <br />2012 <br />2013 <br /> <br />Principal Amount <br /> <br /> $ <br /> <br />or on any earlier date on which the principal amounts of this <br />Bond may be and shall have been duly called for prepayment, and <br />to pay interest to the Registered Owner from the date hereof on <br />the principal amounts hereof until the same are paid at the rate <br />of five and seventy hundredths percent (5.70%) per annum, <br />interest to maturity payable on June 1, 1997, and on each <br />December 1 and June 1 thereafter (the "Interest Payment Dates"). <br />Interest shall be calculated on the basis of a 360-day year <br />consisting of 12 months of 30 days each. The City Finance <br /> <br />324502.1 5 <br /> <br /> <br />