NOTICE OF PUBLIC HEARING ON PROPOSED LEASE OF CERTAIN SCHOOL FACILITIES TO THE METROPOLITAN SCHOOL DISTRICT OF WARREN TOWNSHIP, MARION COUNTY, INDIANA, AND CERTAIN ADDITIONAL APPROPRIATIONS IN CONNECTION WITH THE 2026-2028 SECONDARY SCHOOLS FACILITY IMPROVEMENT AND LONG-TERM MAINTENANCE AND EQUIPPING PROJECT AND THE 2026-2028 HIGH SCHOOL AND ELEMENTARY SCHOOLS FACILITY IMPROVEMENT AND LONG-TERM MAINTENANCE AND EQUIPPING PROJECT Interested persons, taxpayers and residents of the Metropolitan School District of Warren Township, Marion County, Indiana (the "School Corporation"), are hereby notified that the Board of Education of the School Corporation (the "Board") proposes to enter into negotiations with the M.S.D. of Warren Township Vision 2005 School Building Corporation, which is a non-profit school building corporation controlled by, and operating on behalf of, the School Corporation (the "Building Corporation"), in connection with financing of all or any portion of the 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project, as defined and described in the resolution adopted by the Board on July 16, 2025, and the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project, as defined in the resolution adopted by the Board on March 9, 2026 (the 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project and the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project, collectively, the "2026-2028 Secondary Schools/High School and Elementary Schools Projects"). The estimated cost of the 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project will be in excess of One Million Dollars ($1,000,000), all or a portion of which will be financed by entering into a proposed sixth amendment to an existing master lease, dated as of September 15, 2000, as previously amended (collectively, the "Master Lease"), and addenda related to such proposed sixth amendment (collectively, the "Sixth Amendment to Lease"), with the Building Corporation, which in turn will allow the Building Corporation to issue first mortgage bonds (the "2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds"). The 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds may be issued in one or more series or issues, in an original aggregate principal amount estimated not to exceed Seventy-Five Million Dollars ($75,000,000), for the purpose of procuring funds to pay (1) all or a portion of the costs of the 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project, (2) the extension of the ownership by the Building Corporation of the premises currently subject to the Master Lease (the "Premises"), (3) interest on the 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds in the amounts and during the time periods determined by the Building Corporation at the time each series of 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds are issued, (4) the School Corporation as a reimbursement for improvements made to the Premises by the School Corporation since the Premises have been owned by the Building Corporation, and (5) all or a portion of the costs associated therewith, including, but not limited to, the expenses in connection with or on account of the issuance of the 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds therefor. The 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds shall have a final maturity date no later than twenty (20) years after each series of the 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds are issued. The estimated cost of the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project will be in excess of One Million Dollars ($1,000,000), all or a portion of which will be financed by entering into the Sixth Amendment to Lease with the Building Corporation, which in turn will allow the Building Corporation to issue first mortgage bonds (the "2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds") (2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds and the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds, collectively, the "2026-2028 Secondary Schools/High School and Elementary Schools Bonds"). The 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds may be issued in one or more series or issues, in an original aggregate principal amount estimated not to exceed Forty Million Dollars ($40,000,000), for the purpose of procuring funds to pay (1) all or a portion of the costs of the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds, (2) the extension of the ownership by the Building Corporation of the Premises, (3) interest on the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds in the amounts and during the time periods determined by the Building Corporation at the time each series of 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds are issued, (4) the School Corporation as a reimbursement for improvements made to the Premises by the School Corporation since the Premises have been owned by the Building Corporation, and (5) all or a portion of the costs associated therewith, including, but not limited to, the expenses in connection with or on account of the issuance of the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds therefor. The 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds shall have a final maturity date no later than twenty (20) years after each series of the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds are issued. Pursuant to the proposed amendment to the Master Lease (the "Fifth Amendment"), the Building Corporation will do all or any portion of the following: (1) Pay to the School Corporation as reimbursement for improvements made to the Premises by the School Corporation since the Premises have been owned by the Building Corporation; (2) Complete all or a portion of each of 2026-2028 Secondary Schools/High School and Elementary Schools Projects; and (3) Extend the term of the Master Lease with respect to all or any portion of premises subject to the Master Lease, with an increased term not to exceed twenty-two (22) calendar years (which is six (6) years longer than the current final term of the Master Lease, assuming the Sixth Amendment to Lease is recorded no later than December 31, 2026) and for an increased annual lease rental not to exceed Eleven Million Dollars ($11,000,000) with respect to the 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project and not to exceed Ten Million Dollars ($10,000,000) with respect to the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project, all of such additional annual lease rental payments payable in semiannual installments commencing no earlier than June 30, 2027, and thereafter on June 30 and December 31 of each year during the remaining term of the proposed amendment to the Master Lease. As additional rental, the School Corporation will maintain insurance on the Premises as required in the Master Lease and will pay all taxes and assessments against such property, as well as the cost of alterations and repairs, all rebate costs associated with the obligations issued by the Building Corporation, and all utility costs incurred in connection with such property. After a sale of any series of the 2026-2028 Secondary Schools/High School and Elementary Schools Bonds, the annual lease rental will be reduced to an amount equal to an amount sufficient to pay the principal and interest due on all of the 2026-2028 Secondary Schools/High School and Elementary Schools Bonds in each twelve (12)-month period together with annual incidental costs as determined by the Building Corporation at the time of the issuance of any series of the 2026-2028 Secondary Schools/High School and Elementary Schools Bonds, payable in semiannual installments. The Master Lease gives an option to the School Corporation to purchase that portion of the Premises which is subject to the Master Lease. As described above, a portion of the proceeds of the 2026-2028 Secondary Schools/High School and Elementary Schools Bonds issued by the Building Corporation will be paid to the School Corporation as reimbursement for improvements made to the Premises by the School Corporation since the Premises have been owned by the Building Corporation and for an extension of the Building Corporation's ownership of the Premises. The School Corporation intends to use the money it receives from the Building Corporation to pay for that portion of the 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project not funded by the Building Corporation and to pay all of the costs associated therewith, including, but not limited to the costs of issuing the 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds. The School Corporation intends to use the money it receives from the Building Corporation to pay for that portion of the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project not funded by the Building Corporation and to pay all of the costs associated therewith, including, but not limited to the costs of issuing the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds. The preliminary drawings, plans and specifications, including cost estimates, for the 2026-2028 Secondary Schools/High School and Elementary Schools Projects, as well as a copy of the proposed amendment to the Master Lease, are currently available for inspection by the public on all business days during business hours, at the Warren Education and Community Center, located at 975 North Post Road, Indianapolis, Indiana. Notice is hereby given by the undersigned that the Board will, on August 19, 2026, at 6:30 p.m. (local time), in the Board Room of the Warren Education and Community Center, located at 975 North Post Road, Indianapolis, Indiana, conduct a public hearing (1) regarding the matter of appropriating a portion of the proceeds of the 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds and investment earnings thereon, (2) regarding the matter of appropriating a portion of the proceeds of the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project and investment earnings thereon, and (3) upon the necessity for the execution of the Sixth Amendment to Lease, and upon whether the lease rental provided for therein to be paid by School Corporation to the Building Corporation is a fair and reasonable rental for that portion of the Premises which is subject to the Master Lease, as amended by the Sixth Amendment. All interested parties are entitled and encouraged to attend to present their testimony and ask any questions relative to all or any of the 2026-2028 Secondary Schools/High School and Elementary Schools Projects, the Sixth Amendment to Lease or the 2026-2028 Secondary Schools/High School and Elementary Schools Bonds. Such hearing may be adjourned to a later date or dates, and subsequent to such hearing the Board may (1) either authorize the execution of the Sixth Amendment to Lease as originally agreed upon, rescind the proposed Sixth Amendment to Lease, or make modifications therein as may be agreed upon with the Building Corporation, but in no event may the rental exceed the amounts set forth in this notice, (2) consider adoption of a resolution regarding the issue of appropriating a portion of the proceeds of the 2026-2028 Secondary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds and the investment earnings thereon for the purposes described herein, and (3) consider adoption of a resolution regarding the issue of appropriating a portion of the proceeds of the 2026-2028 High School and Elementary Schools Facility Improvement and Long-Term Maintenance and Equipping Project Bonds and the investment earnings thereon for the purposes described herein. Dated this 17th day of July, 2026. METROPOLITAN SCHOOL DISTRICT OF WARREN TOWNSHIP, MARION COUNTY, INDIANA By: Dr. Timothy Hanson, Superintendent July 17 2026 LSBN0552566