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1 . 04 . Award of Sale . This Council has received the <br /> • bid of Miller & Schroeder Financial , Inc . , to purchase the <br /> Bonds on the terms set forth in Section 1 . 03 and the other <br /> terms set forth in this Resolution at the price of $ , <br /> plus accrued interest . The offer is reasonable and <br /> advantageous to the City and is hereby accepted by the City. <br /> The Bonds are sold to Miller & Schroeder Financial , Inc . (the <br /> "Purchaser" ) pursuant to the provisions of Minnesota Statutes , <br /> Section 475 . 60 , Subdivision 2 (2) . <br /> 1 . 05 . Issuance of .Bonds . The City is authorized by <br /> Minnesota Statutes , Section 115 . 465 and Chapter 475 to issue <br /> and sell the Bonds to pay the costs of the Improvements , and to <br /> pledge to the payment of the Bonds net revenues to be derived <br /> from charges for the service, use and availability of the <br /> System. The City has no obligations outstanding which <br /> constitute a lien upon any part of the revenue of the System. <br /> All acts, conditions and things which are required by the <br /> Constitution and laws of the State of Minnesota to be done, to <br /> exist - to happen and to be performed precedent to and in the <br /> valid issuance of the Bonds having been done, existing, having <br /> happened and having been performed, it is now necessary for <br /> this Council to establish the form and terms of the Bonds , to <br /> provide security therefor and to issue the Bonds forthwith. <br /> • Section 2 . Form of Bonds . The Bonds shall be <br /> prepared in substantially the following form: <br /> • <br /> -2- <br />