BOSTON -- They celebrating in Boston Tuesday when Democratic Party leaders officially signed a contract making the city their 2004 convention host.

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NewsCenter 5's Jack Harper said that the ceremony at the FleetCenter looked like the actual political event -- complete with balloons and community leaders acting as "delegates."

Mayor Tom Menino was informed on Nov. 13 that Boston would be the host of the convention.

"Thanks to the committee for their confidence in the city of Boston," Menino said. "This has been a long journey. We have been doing this for five years. The first time, we got nipped at the finish line, but we were not going to get nipped at the finish line today," Menino said when he got the good news.

Meanwhile, The Boston Globe has obtained a convention budget that reveals the expenses involved.

It shows the Democratic National Committee estimates costs at just under $50 million, and about two-thirds will come from private donations.

The balloons and confetti will cost nearly $400,000, and it will take nearly $6 million to provide facilities to journalists from around the world.