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<br />revenue bonds in the aggregate principal amount of X4,000,000, to be designated <br />• the City of Falcon Heights, Minnesota, Commercial Development Revenue Bonds <br />(Stratford Commercial Condominium Project), Series 1985 (the "Bonds"), to the <br />Underwriter. The Bonds shall be in such denomination, shall be numbered, shall be <br />dated, shall be subject to redemption prior to maturity, shall be in such form, shall <br />mature on such dates and pay interest at such rates, and shall have such other <br />details and provisions as are prescribed in the Indenture of Trust, dated as of <br />December 1, 1985 (the "Indenture"), between the City and National City Bank of <br />Minneapolis, in Minneapolis, Minnesota, as trustee (the "Trustee"); provided, <br />however, that the rates on the Bonds may be less than the rates prescribed in the <br />Indenture if such lower rates are approved by the Mayor and City Clerk- <br />Administrator. Issuance and delivery of the Bonds shall be deemed conclusive <br />evidence of such approval by tfie Mayor and City Clerk-Administrator. The City <br />• Clerk-Administrator is hereby authorized to perform the duties and functions of <br />the City identified in the Indenture. <br />3. That the Bonds shall not be general obligations but shall be special <br />limited obligations of the City payable solely from the revenues derived from the <br />Loan Agreement, dated as of December 1, 1985, and executed by the City and the <br />Developer (the "Loan Agreement"), in the manner provided in the Indenture. The <br />Bonds shall be secured by the Indenture. The Mayor, President pro tern, or any <br />member of the City Council (hereinafter referred to as the "Mayor"), and the <br />Clerk-Administrator of the City are hereby authorized and directed to execute the <br />Bonds in accordance with the Indenture. <br />4. That the Loan Agreement, the Indenture, the Servicing Agreement, <br />dated as of December 1, 1985, among the Trustee, National City Bank of <br />:Minneapolis, as servieer, the City, and the Developer (the "Servicing Agreement"), <br />the Bond Purchase Agreement, dated as of the date of issuance of the Bonds by and <br />3 <br />