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the Mayor and the City Manager are hereby authorized and directed to execute a contract on the part of the City for the sale critic Bonds with the Purchaser. The good faith checks of the unsuccessful bidders shall be returned forthwith. 1.03. Performance of.Rcouirements. All acts, conditions and things which are required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen and to be performed precedent to and in the valid issuance of the Bonds having been done, existing, having happened and having been performed, it is now necessary for this Council to establish the form and terms of the Bonds, to provide security therefor and to issue the Bonds forthwith. 1.04. Maturities of -Bo - nds. The Council hereby finds that the maturities of the Bonds as set forth in Section 3.01 hereoare warranted by the anticipated collections of special assessments and ad valorem taxes levied and to be levied for the payment of the Bonds as provided in Section 4 hereof. Section 2 Form of Bonds. The Bands shall be prepared in substantially the following form: UNITED STATt S OF AMERICA STATE Of,' MINNESOTA COUN'T'IES OF I IENNEPIN AND RAMSEY CITY OF ST. ANTHONY GT?NI3RAL OBLIGATION IMPROVEMENT BOND, SERIES 2.005A No. R- $ Date of Interest Rate Maturity Origi»al Issue CUSIP April 1, 2005 REGISTERED OWNER: CEDE & CO. PRINCIPAI, AMOUNT': DOLLARS THE CITY OF ST. ANTHONY, Hennepin and Ramsey Counties, Minnesota (the "City"), acknowledges itself to be indebted and, for value received, hereby promises to pay to the registered owner named above, or registered assigns, the principal amount specified above, on the maturity date specified above, with interest thereon from the date of original issue specified above, or from the most recent interest payment date to which interest has been paid or duly provided for, at the annual rate specified above. Interest hereon is payable on February 1 and August 1 in each year, commencing February 1, 2006, to the person in whose name this Bond is registered at the close of business on the 15th day (whether or not a business day) of the immediately preceding month, all subject to the provisions referred to herein with respect to the redemption of the principal of this Bond before maturity. The interest hereon and, upon presentation and surrender hereof, the principal hereof, are payable in lawful money of the