NOTICE OF PRELIMINARY DETERMINATION OF THE METROPOLITAN SCHOOL DISTRICT OF LAWRENCE TOWNSHIP, MARION COUNTY, INDIANA, TO ISSUE ONE OR MORE SERIES OF PROPOSED GENERAL OBLIGATION BONDS AND/OR ENTER INTO A PROPOSED LEASE OR LEASES OR AMENDMENT OR AMENDMENTS TO ONE OR MORE EXISTING LEASES OF FACILITIES OPERATED BY THE SCHOOL CORPORATION IN CONNECTION WITH THE PROPOSED 2026-2030 MCKENZIE CENTER FOR INNOVATION & TECHNOLOGY FACILITY TRANSFORMATION AND DISTRICT-WIDE LONG-TERM CAPITAL MAINTENANCE IMPROVEMENT PROJECT Owners of real property, and registered voters residing, in the Metropolitan School District of Lawrence Township, Marion County, Indiana (the "School Corporation"), hereby are given notice that the Board of Education of the School Corporation (the "Board") preliminarily has determined, at its meeting held June 8, 2026, that (1) a need exists for (a) certain renovation, expansion, upgrade, improvement and equipping projects at the existing McKenzie Center for Innovation & Technology, which is operated by the Metropolitan School District of Lawrence Township, Marion County, Indiana (the "School Corporation"), which upon completion is currently anticipated to contain approximately 290,000 square feet consisting of new and renovated spaces for Career and Technical Education programming, large group instruction, a health clinic and related support spaces and include, but not limited to, all or any portion of (i) the extensive renovation of the interior and exterior of the main building, (ii) the upgrade of all or any of the classrooms, including, but not limited to, ceilings, walls, flooring and lighting, (iii) the demolition of the existing early childhood education classroom areas, (iv) the construction of one or more one- and/or two-story additions in one or more locations attached to the existing structure consisting of, (v) exterior site improvements, including, but not limited to, driveway and parking lot repair, replacement, restoration and reconfiguration, fencing upgrades as well as walkways and gating for traffic and student protection, (vi) the upgrade to all or any portion of the interior and exterior lighting systems to LED lighting, as well as the upgrade and update to all plumbing, heating and air conditioning, electrical, technology and security and safety systems, and (vii) the repair, replacement and/or restoration of all or any portion of the roofing system, (b) other facility improvement and/or equipping projects throughout the School Corporation, including, but not limited to, all or any portion of (i) certain roofing system repair, restoration and/or replacement projects at one or more the existing school buildings operated by the School Corporation, including, but limited to, all or any of the existing Amy Beverland Elementary School, Brook Park Elementary School, Crestview Elementary School, Winding Ridge Elementary School, Fall Creek Valley Middle School, Lawrence Central High School and Lawrence North High School, and (ii) renovation, upgrade, improvement and equipping energy conservation projects at one or more of the existing school buildings operated by the School Corporation, including, but not limited to, all or any of the existing Amy Beverland Elementary School, Brook Park Elementary School, Forest Glen Elementary School, Oaklandon Elementary School, Sunnyside Elementary School, Winding Ridge Elementary School, Amy Beverland Early Learning Center, Brook Park Early Learning Center, Mary Castle Early Learning Center and Winding Ridge Early Learning Center consisting of all or any portion of upgrades, repairs and/or replacements of all or any portion of the existing heating and air conditioning, electrical and plumbing and building envelope systems, and (c) the projects related to any of the projects described in clauses (a) through and including (b) (clauses (a) through and including (c)], collectively, the "2026-2030 McKenzie Center for Innovation & Technology Facility Transformation and District-Wide Long-Term Capital Maintenance Improvement Project"); and (2) to the extent permitted by law to take all of the necessary steps to finance all or a portion of the costs of all, or as much as is possible based on the facts and circumstances at the time, of the 2026-2030 McKenzie Center for Innovation & Technology Facility Transformation and District-Wide Long-Term Capital Maintenance Improvement Project by issuing one or more series of proposed general obligation bonds (the "General Obligation Bonds") and/or entering into a proposed lease or leases or amendment or amendments to one or more existing leases between one or more local nonprofit school building corporations, as lessor (collectively, the "Building Corporation"), and the School Corporation, as lessee, relating to all or any portion of the school facilities operated by the School Corporation. The Building Corporation, as lessor, will issue one or more series of first mortgage bonds secured by and payable from the lease payments under the proposed lease or leases or amendment or amendments to one or more existing leases (the "First Mortgage Bonds"). The total maximum original aggregate principal amount of the General Obligation Bonds and the First Mortgage Bonds (collectively, the "Bonds") will be One Hundred Seventy-Five Million Dollars ($175,000,000), or such greater amount in the case of the issuance of any bonds all or a portion of which will be used to refund all or any portion of the First Mortgage Bonds. The maximum term for each series of the Bonds will not exceed twenty (20) years and the proposed lease or leases or amendment or amendments to one or more existing leases with respect to each facility subject to the proposed lease or leases or amendment or amendments to one or more existing leases at the time of the issuance of each series of the First Mortgage Bonds will have a maximum term not to exceed twenty-five (25) years, beginning on the date each such lease or amendment to lease is recorded by the School Corporation in connection with the 2026-2030 McKenzie Center for Innovation & Technology Facility Transformation and District-Wide Long-Term Capital Maintenance Improvement Project. Based on an estimated maximum average interest rate that will be paid in connection with the Bonds of six percent (6.00%) per annum, the total interest cost associated therewith, including any capitalized interest that may be paid by the School Corporation or the Building Corporation on all or a portion of the Bonds, is $155,000,000 (which amount is net of any funds received by the School Corporation or the Building Corporation from the United States of America as a result of any or all of the Bonds being issued under one or more federal tax credit programs). The maximum annual principal and interest to be paid on the Bonds plus the maximum annual lease rental to be paid by the School Corporation under the proposed lease or leases or amendment or amendments to one or more existing leases is $34,300,000 (which amount is net of any funds received by the School Corporation or the Building Corporation from the United States of America as a result of any or all of the Bonds being issued under one or more federal tax credit programs), and the maximum total principal and interest to be paid on the Bonds plus the maximum total lease rental over the term of the lease or leases or amendment or amendments to one or more existing leases is $400,000,000(which amount is net of any funds received by the School Corporation or the Building Corporation from the United States of America as a result of any or all of the Bonds being issued under one or more federal tax credit programs), not taking into account any funds of the School Corporation or the Building Corporation available for capitalized interest. The School Corporation's certified total aggregate exempt and non-exempt debt service fund tax levy for 2025 pay 2026 (which is the most recent certified tax levy) is $46,026,453, and the School Corporation's aggregate exempt and non-exempt debt service fund tax rate for 2025 pay 2026 (which is the most recent certified tax rate) is $0.5951 per $100 of assessed value. The estimated total maximum aggregate exempt and non-exempt debt service fund tax levy for the School Corporation and the estimated total maximum aggregate exempt and non-exempt debt service fund tax rate for the School Corporation after the issuance of the Bonds are anticipated to occur no earlier than 2026 pay 2027 and will be $61,915,566 and $0.7980 per $100 of assessed value (based on the assumption that there is no change in the net assessed value of the School Corporation from the 2025 pay 2026 net assessed value), respectively, and are anticipated to continue at or below these levels through at least 2035 pay 2036, as a result of the payment of the debt service on the General Obligation Bonds and the lease rentals under the proposed lease or leases or amendment or amendments to one or more existing leases described herein and the amount of the debt service payments on other bonds and lease rental obligations paid by the School Corporation. The percent of the School Corporation's current annual debt service/lease payments and projected maximum annual debt service/lease payments after the issuance of the Bonds compared to the net assessed value of taxable property within the School Corporation is seventy-two one-hundredths of one percent (0.72%). The percent of the School Corporation's outstanding long term debt, together with the outstanding long term debt of other taxing units that include any of the territory of the School Corporation, compared to the net assessed value of taxable property within the School Corporation is approximately fourteen and forty-seven one-hundredths of one percent (14.47%). Petitions requesting the application of the local public question process to the Bonds and/or proposed lease rental payments and/or debt service payments related to the 2026-2030 McKenzie Center for Innovation & Technology Facility Transformation and District-Wide Long-Term Capital Maintenance Improvement Project may be filed with the Marion County Voter Registration Office within thirty days after the date of the publication of this notice in the manner provided by Indiana Code § 6-1.1-20-3.5, as amended. If a sufficient petition requesting the application of the local public question process to the Bonds and/or the proposed lease rental payments and/or debt service payments related to the 2026-2030 McKenzie Center for Innovation & Technology Facility Transformation and District-Wide Long-Term Capital Maintenance Improvement Project has been filed as set forth in Indiana Code § 6-1.1-20-3.5, as amended, the Bonds and/or the proposed lease rental and/or debt service payments related to the 2026-2030 McKenzie Center for Innovation & Technology Facility Transformation and District-Wide Long-Term Capital Maintenance Improvement Project must be approved in an election on a local public question held under Indiana Code § 6-1.1-20-3.6, as amended, prior to the levy of any property taxes to pay such proposed lease rental payments and/or debt service payments. In the event that a sufficient petition requesting the application of the local public question process to the Bonds and/or the proposed lease rental payments and/or debt service payments related to the 2026-2030 McKenzie Center for Innovation & Technology Facility Transformation and District-Wide Long-Term Capital Maintenance Improvement Project has been filed as set forth in Indiana Code § 6-1.1-20-3.5, as amended, the Board has determined to reconvene as soon as possible after receiving notice of such petition to consider approval of the form of the public question to be recommended to the Marion County Auditor and the Marion County Election Board for consideration by the registered voters at the election conducted under Indiana Code § 6-1.1-20-3.6, as amended, and other related matters. Dated: June 12, 2026. METROPOLITAN SCHOOL DISTRICT OF LAWRENCE TOWNSHIP, MARION COUNTY, INDIANA By: Dr. Shawn Smith, Superintendent June 12 2026 LSBN0530007