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the form of single typewritten fully registered Certificates of <br />Indebtedness, in denominations of Sixty Thousand and no/100 <br />($60,000.00) Dollars each, bearing interest as set out herein, <br />all interest payable on November 1, 1989, and November 1 and May <br />1 thereafter maturity. Such Certificates shall mature serially <br />on May 1 of each year commencing May 1, 1990. <br />Such certificate shall be in substantially the follow- <br />ing form: <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br />CITY OF LINO LAKES <br />No. R-1 $ 60, 000.00 <br />Equipment <br />Certificates of Indebtedness <br />KNOW ALL MEN BY THESE PRESENTS That the City of Lino <br />Lakes, Anoka County, Minnesota, acknowledges itself to be <br />indebted and for value received hereby promises to pay to <br />Centennial Bank, Circle Pines <br />, Minnesota or registered assigns, <br />with option of prior payment, the principal sum of SIXTY <br />THOUSAND DOLLARS on the 1st day of May, 1990, in such coin or <br />currency of the United States of America as at the time of <br />payment shall be legal tender for the payment of debts due the <br />United States of America and to pay interest on said principal <br />sum from time to time remaining unpaid in such coin or currency <br />at the rate of seven and sixty-five/100 (7.65 %) per cent per annum <br />from the date hereof until the principal sum is paid, interest <br />to maturity payable on November 1, 1989 and May 1, 1990. <br />-2- <br />