NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A SEWER REVENUE LOAN AND DISBURSEMENT AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $2,100,000 (SEWER REVENUE) The City Council of the City of Ames, Iowa, will meet on March 24, 2026, at 6:00 o'clock p.m., at the Council Chambers in City Hall, Ames, Iowa, for the purpose of instituting proceedings and taking action on the proposal to enter into a loan and disbursement agreement (the "Agreement") and to borrow money thereunder in a principal amount not to exceed $2,100,000, for the purpose of paying the cost, to that extent, of planning, designing and constructing improvements and extensions to the Municipal Sanitary Sewer System (the "Utility") of the City. The Agreement will not constitute a general obligation of the City, nor will it be payable in any manner by taxation but, together with the City's outstanding Sewer Revenue Bond, SRF Series 2012, dated November 16, 2012; Taxable Sewer Revenue Bond, SRF Series 2016, dated September 30, 2016; Taxable Sewer Revenue Bond, SRF Series 2018, dated February 16, 2018; Taxable Sewer Revenue Improvement and Refunding Bond, SRF Series 2021, dated February 19, 2021; Sewer Revenue Bond, SRF Series 2023A, dated January 27, 2023; Taxable Sewer Revenue Bond, SRF Series 2023B, dated January 27, 2023; Sewer Revenue Bond, SRF Series 2023C, dated August 18, 2023; Sewer Revenue Bond, SRF Series 2024, dated November 15, 2024; Sewer Revenue Bond, SRF Series 2025, dated October 10, 2025; and any additional obligations of the City as may be hereafter issued and outstanding from time to time ranking on a parity therewith, will be payable solely and only from the Net Revenues of the Utility. At that time and place, oral or written objections may be filed or made to the proposal to enter into the Agreement. After receiving objections, the City may determine to enter into the Agreement, in which case, the decision will be final unless appealed to the District Court within fifteen (15) days thereafter. By order of the City Council of the City of Ames, Iowa. Renee Hall, City Clerk March 18 2026 LIOW0474016