NOTICE OF PROPOSAL TO ISSUE BONDS The City Council of Ames, Iowa, hereby gives notice that a special municipal election will be held on November 4, 2025, at which there will be submitted to the voters of the City the following proposition: "Shall the City of Ames, in Story County, State of Iowa, enter into a loan agreement and issue general obligation bonds in an amount not exceeding $10,500,000 for the purpose of constructing furnishing and equipping a new municipal fire station as a replacement for existing Fire Station #2?" It is estimated the annual increase in property taxes on a residential property with an actual valuation of one hundred thousand dollars resulting from issuing the bonds will be $10.89. However, the City Council may determine in any fiscal year while the debt is outstanding to alternatively budget from any other available revenues for the payment of principal, interest, and premium, if any, pursuant to the terms of the bonds. In accordance with Section 384.26 of the Code of Iowa, the City Council also hereby gives notice that the estimated cost of the projects to be financed is $10,500,000. This cost figure is an estimate and shall not be binding on the City Council in later proceedings related to the projects. Renee Hall, City Clerk October 25 2025 LIOW0394907