CITY OF ST. CLOUD, MINNESOTA NOTICE OF PUBLIC HEARING WITH RESPECT TO A PROJECT DESCRIBED IN MINNESOTA STATUTES, SECTIONS 469.152 THROUGH 469.1655, AS AMENDED, AND THE ISSUANCE OF CHARTER SCHOOL LEASE REVENUE BONDS FOR THE BENEFIT OF STRIDE ACADEMY BUILDING COMPANY AND STRIDE ACADEMY NOTICE IS HEREBY GIVEN that the City Council of the City of St. Cloud, Minnesota (the "City") will hold a public hearing on Monday, June 1, 2026, commencing at or after 6:00 p.m. in the City Council Chambers of City Hall located at 1201 Seventh Street South in the City to consider a proposal and plan of financing for the issuance by the City of one or more series of tax-exempt or taxable revenue bonds (the "Bonds") under Minnesota Statutes, Sections 469.152 through 469.1655, as amended (the "Act"). The proceeds of the Bonds will be loaned to STRIDE Academy Building Company, a Minnesota nonprofit corporation (the "Company"), and used, together with funds held by a bond trustee and STRIDE Academy, a Minnesota nonprofit corporation and public charter school (the "School"), to (i) pay and discharge the outstanding indebtedness of the Company, thereby refinancing the acquisition of two parcels of land located at 3220 County Road 74 in the City (the "Adjacent Land"), adjacent to the existing charter school facility for kindergarten through fourth grade located at 3241 Oakham Lane in the City which is leased to and operated by the School (the "Elementary School Facility"); (ii) finance improvements to the Elementary School Facility (the "Elementary School Improvements"); (iii) finance the acquisition of land located at 3701 33rd Street in the City (the "Middle School Land") and the building at which the School leases and operates its existing charter school facility for fifth through eighth grade (the "Middle School Facility"); (iv) finance improvements and renovations to the Middle School Facility (the "Middle School Improvements"), including but not limited to bathroom renovations, gymnasium access upgrades, administrative office improvements, other minor interior renovations, parking lot resurfacing, and HVAC upgrades; (v) fund a debt service reserve fund to secure payment of the Bonds; (vi) finance capitalized interest on the Bonds; and (vii) pay the costs of issuing the Bonds (collectively, the "2026 Project"). The City may also use proceeds of the Bonds to redeem and prepay its outstanding Charter School Lease Revenue Bonds (STRIDE Academy Project), Series 2016A (the "Series 2016A Bonds"), issued on April 15, 2016, in the original aggregate principal amount of $16,375,000, the proceeds of which the Company used, along with proceeds of the City's Taxable Charter School Lease Revenue Bonds (STRIDE Academy Project), Series 2016B, issued on April 15, 2016, in the original aggregate principal amount of $315,000 and no longer outstanding, to finance the acquisition of the Elementary School Facility and the land on which it is located. The Adjacent Land, the Elementary School Facility, the Middle School Land, the Middle School Facility, and the Middle School Improvements (collectively, "Middle School," and together with Adjacent Land and the Elementary School Facility, the "School Facilities") are or will be owned by the Company and are or will be leased to and operated by the School. The maximum aggregate principal amounts of the Bonds proposed to be issued for the 2026 Project, including a ratable allocation of common costs are as follows: $4,000,000 to refinance the Adjacent Land and finance the Elementary School Improvements and $24,000,000 to finance the acquisition of and improvements and renovations to the Middle School, provided that the maximum aggregate principal amount of the Bonds proposed to be issued to finance the 2026 Project shall not exceed $26,000,000. If the Company determines to refund the outstanding Series 2016A Bonds, the Bonds may be issued by the City in an additional aggregate principal amount estimated not to exceed $14,000,000. Following the public hearing, the City Council will consider the adoption of a resolution approving issuance of the Bonds to finance the activities contemplated herein. The Bonds to be issued by the City will constitute special, limited revenue obligations of the City payable solely from the revenues expressly pledged to the payment thereof, and will not constitute a general or moral obligation of the City. The Bonds will not be secured by the taxing powers of the City or any assets or property of the City except any interests of the City in the Project that may be granted to the City in conjunction with this financing. Before issuing the Bonds, the City will enter into an agreement with the Company whereby the Company will be required to make payments at least sufficient at all times to pay the principal of and interest on the Bonds when due. A draft copy of the proposed application to the Department of Employment and Economic Development for approval of the 2026 Project, together with all attachments and exhibits, shall be available for public inspection following the publication of this notice, at City Hall during normal business hours. At the time and place fixed for the public hearing, the City Council will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. In addition, interested persons may direct any questions or file written comments respecting the proposal with the City Clerk, at or prior to said public hearing. Dated: May 20, 2026 CITY OF ST. CLOUD, MINNESOTA Publication Dates LMNS0520987