NOTICE OF INTENT TO ISSUE BONDS AND RIGHT TO FILE PETITION

NOTICE OF INTENT TO ISSUE BONDS AND RIGHT TO FILE PETITION Notice is hereby given that pursuant to an ordinance (the "Ordinance"), adopted by the Board of Park Commissioners (the "Board") of the Freeport Park District, Stephenson County, Illinois (the "District"), on the 16th day of December, 2025, the District intends to issue alternate bonds in an aggregate principal amount not to exceed $2,000,000 (the "Bonds"), for the payment of land condemned or purchased for parks, for the building, maintaining, improving and protecting of the same and the existing land and facilities of the District, and paying the expenses incident thereto. The revenue sources that will be pledged to the payment of the principal of and interest on the Bonds will be (i) proceeds received by the District from the issuance of its general obligation bonds or notes to the fullest extent permitted by law, including Section 15.01 of the Local Government Debt Reform Act of the State of Illinois, as amended, and Section 6-4 of the Park District Code of the State of Illinois, as amended, and (ii) property taxes collected by the District for corporate purposes. The District will also levy ad valorem property taxes upon all taxable property in the District without limitation as to rate or amount to pay the principal of and interest on the Bonds, to be extended in the event that said revenue sources are insufficient to pay the Bonds. A complete copy of the Ordinance follows this notice. Notice is hereby further given that a petition signed by 1,043 or more voters of the District, said number of voters being equal to the greater of (i) 7.5% of the registered voters of the District or (ii) 200 of those registered voters or 15% of the registered voters whichever is less, may be submitted to the Secretary of the Board of Park Commissioners of the District (the "Secretary") within thirty (30) days after the date of publication of this notice and the Ordinance, asking that the question of the issuance of the Bonds be submitted to referendum. If such petition is filed with the Secretary within thirty (30) days after the date of publication of this notice, an election on the proposition to issue the Bonds shall be held on the 3rd day of November, 2026. The Circuit Court may declare that an emergency referendum should be held prior to said election date pursuant to the provisions of Section 2A-1.4 of the Election Code of the State of Illinois, as amended. If no such petition is filed within said thirty (30) day period, then the District shall thereafter be authorized to issue the Bonds for the purpose hereinabove provided. Dated this 16th day of December, 2025. Lindsey Minkie Secretary, Board of Park Commissioners, Freeport Park District, Stephenson County, Illinois AN ORDINANCE authorizing the issuance of General Obligation Park Bonds (Alternate Revenue Source) of the Freeport Park District, Stephenson County, Illinois, in an aggregate principal amount not to exceed $2,000,000, for the payment of land condemned or purchased for parks, for the building, maintaining, improving and protecting of the same and the existing land and facilities of the District, and paying expenses incident thereto. * * * WHEREAS, the Freeport Park District, Stephenson County, Illinois (the "District"), is a duly organized and existing Park District created under the provisions of the laws of the State of Illinois, and is now operating under the provisions of the Park District Code of the State of Illinois, as supplemented and amended (the "Park Code"); and WHEREAS, the Board of Park Commissioners of the District (the "Board") has determined that it is advisable, necessary and in the best interests of the District to issue the hereinafter described bonds for the payment of land condemned or purchased for parks, for the building, maintaining, improving and protecting of the same and the existing land and facilities of the District, and paying the expenses incident thereto (the "Project"); and WHEREAS, the cost of the Project will not exceed $2,000,000, including legal, financial, bond discount, printing and publication costs, capitalized interest and other expenses, and there are insufficient funds on hand and lawfully available to pay such costs; and WHEREAS, such costs are expected to be paid for from the proceeds of alternate bonds authorized to be issued at this time pursuant to the Local Government Debt Reform Act of the State of Illinois, as amended (the "Act"); and WHEREAS, it is necessary and for the best interests of the District that the District proceed with the Project and in order to raise the funds required therefor it will be necessary for the District to borrow an amount not to exceed $2,000,000 for the Project and in evidence thereof to issue alternate bonds in an aggregate principal amount not to exceed $2,000,000, all in accordance with the Act; and WHEREAS, the revenue sources that will be pledged to the payment of the principal of and interest on the alternate bonds will be (i) proceeds received by the District from the issuance of its general obligation bonds or notes to the fullest extent permitted by law, including Section 15.01 of the Act and Section 6-4 of the Park Code, and (ii) property taxes collected by the District for corporate purposes; and WHEREAS, if the above-mentioned revenue sources are insufficient to pay said alternate bonds, ad valorem property taxes upon all taxable property in the District without limitation as to rate or amount are authorized to be extended to pay the principal of and interest on said alternate bonds: NOW, THEREFORE, Be It Ordained by the Board of Park Commissioners of the Freeport Park District, Stephenson County, Illinois, as follows: Section 1. Incorporation of Preambles. The Board hereby finds that all of the recitals contained in the preambles to this Ordinance are full, true and correct and does incorporate them into this Ordinance by this reference. Section 2. Determination to Issue Bonds. It is necessary and in the best interests of the District to proceed with the Project as described, and that for such purposes alternate bonds of the District are hereby authorized to be issued and sold from time to time in an aggregate principal amount not to exceed $2,000,000, known as "General Obligation Park Bonds (Alternate Revenue Source)" of the District and bearing such series designation or designations as may be appropriate (the "Bonds"). Section 3. Publication. This Ordinance, together with a notice in the statutory form, shall be published in The Journal-Standard, the same being a newspaper of general circulation in the District, and if no petition, signed by 1,043 electors, the same being equal to the greater of (i) 7.5% of the number of registered voters in the District or (ii) 200 of those registered voters or 15% of those registered voters, whichever is less, asking that the issuance of the Bonds be submitted to referendum, is filed with the Secretary of the Board within thirty (30) days after the date of the publication of this Ordinance and said notice, then the Bonds shall be authorized to be issued. Section 4. Additional Ordinances. If no petition meeting the requirements of applicable law is filed during the petition period hereinabove referred to, then the Board may adopt additional ordinances or proceedings supplementing or amending this Ordinance providing for the issuance and sale of the Bonds and prescribing all the details of the Bonds, so long as the maximum amount of the Bonds as set forth in this Ordinance is not exceeded and there is no material change in the Project described herein. Such additional ordinances or proceedings shall in all instances become effective immediately without publication or posting or any further act or requirement. This Ordinance, together with such additional ordinances or proceedings, shall constitute complete authority for the issuance of the Bonds under applicable law. Section 5. Severability. If any section, paragraph, clause or provision of this Ordinance shall be held invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the other provisions of this Ordinance. Section 6. Repealer. All ordinances, resolutions or orders, or parts thereof, in conflict with the provisions of this Ordinance are to the extent of such conflict hereby repealed. Adopted December 16, 2025. /s/ Sally Petersen President, Board of Park Commissioners /s/ Lindsey Minkie Secretary, Board of Park Commissioners Publication Dates LILS0435145