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6.25% for <br />6.35% for <br />6.45% for <br />6.55% for <br />6.65% for <br />$50,000.00 <br />$50,000.00 <br />$55,000.00 <br />$60,000.00 <br />$60,000.00 <br />Certificate <br />Certificate <br />Certificate <br />Certificate <br />Certificate <br />due <br />due <br />due <br />due <br />due <br />February <br />February <br />February <br />February <br />February <br />1, 1991 <br />1, 1992 <br />1, 1993 <br />1, 1994 <br />1, 1995 <br />to the First State Bank of Hugo in the form of single type- <br />written fully registered Certificates of Indebtedness, bearing <br />interest as set out herein, all interest payable on August 1, <br />1990, and February 1 and August 1 thereafter to <br />maturity. <br />Such <br />Certificates shall mature serially on February 1 of each year <br />commencing February 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 $ 50,000.00 <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 First <br />State Bank of Hugo, Hugo, Minnesota or registered assigns, with <br />option of prior payment, the principal sum of FIFTY THOUSAND <br />DOLLARS on the 1st day of February, 1990, in such coin or <br />currency of the United States of America as at the time of <br />-2- <br />