#12010635 NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AGREEMENT AND TO BORROW MONEY THEREUNDER IN A PRINCIPAL AMOUNT NOT TO EXCEED $405,000 (GENERAL OBLIGATION) The City Council of the City of Perry, Iowa (the “City”), will meet on February 2, 2026, in the Clarion Room of the Security Bank Building located at 1102 Willis Ave, Perry, Iowa, at 6:00 o’clock p.m., for the purpose of instituting proceedings and taking action on a proposal to enter into a loan agreement (the “Loan Agreement”) and to borrow money thereunder, in a principal amount not to exceed $405,000, for the purpose of paying the costs, to that extent, of constructing and equipping a public works/snow removal equipment facility. The Loan Agreement is proposed to be entered into pursuant to authority contained in Section 384.24A of the Code of Iowa and will constitute a general obligation of the City. The payment of debt service under the Loan Agreement may be made subject, in whole or in part, to annual appropriation by the City Council. The maximum rate of interest which may be payable under the Loan Agreement is 7% per annum. It is estimated the annual increase in property taxes on a residential property with an actual valuation of one hundred thousand dollars resulting from the City entering into the Loan Agreement will be $11.05, however the City Council may determine for any fiscal year while the Loan Agreement is outstanding to budget other available revenues to the payment of some or all of the debt service coming due thereunder. At any time before the date fixed for taking action to enter into the Loan Agreement, a petition may be filed with the City Clerk of the City asking that the question of entering into the Loan Agreement be submitted to the registered voters of the City, pursuant to the provisions of Section 384.26 of the Code of Iowa. By order of the City Council of the City of Perry, Iowa. Elizabeth Hix City Clerk   Published in the Perry Chief on January 22, 2026 (1T)