NOTICE OF SALE CITY OF CLIVE, IOWA $5,625,000 GENERAL OBLIGATION URBAN RENEWAL BONDS, SERIES 2025B

NOTICE OF SALE CITY OF CLIVE, IOWA $5,625,000 GENERAL OBLIGATION URBAN RENEWAL BONDS, SERIES 2025B Bids will be received on behalf of the City of Clive, Iowa, until 10:00 a.m. on October 23, 2025, for the purchase of $5,625,000* General Obligation Urban Renewal Bonds, Series 2025B (the "Bonds") of the City. Any of the methods set forth below may be used, but no open bids will be accepted: Sealed Bidding: Sealed bids will be received by the office of the Director of Administrative Services, City of Clive, City Hall, 1900 NW 114th Street, Clive, Iowa 50325 until 10:00 a.m. CDT. Electronic Internet Bidding: Electronic internet bids will be received at the office of the City's Municipal Advisor, PFM Financial Advisors LLC, 801 Grand Avenue, Suite 3300, Des Moines, Iowa 50309 until 10:00 a.m. CDT and must be submitted through PARITY®. After the deadline for receipt of bids has passed, sealed bids that have been timely received will be opened and announced, and electronic internet bids will be accessed and announced. All bids will be presented to the City Council for consideration at its meeting to be held at 6:00 p.m., on October 23, 2025, at the City Hall, Clive, Iowa. The Bonds will be issued as fully registered bonds in denominations of $5,000 or any integral multiple thereof, will be dated November 13, 2025, will bear interest payable semiannually on each June 1 and December 1 to maturity, commencing June 1, 2026, and will mature on each June 1 in the following years and amounts: Date Principal 2026 $300,000 2027 $275,000 2028 $290,000 2029 $300,000 2030 $315,000 2031 $335,000 2032 $350,000 2033 $365,000 2034 $385,000 2035 $405,000 2036 $425,000 2037 $440,000 2038 $460,000 2039 $480,000 2040 $500,000 *The City reserves the right to increase or decrease the aggregate principal amount of the issue. Any change will be in increments of $5,000 and may be made in any of the maturities. The purchase price will be adjusted proportionately to reflect any change in issue size. The right is reserved to the City to call and redeem all of the Bonds maturing in the years 2034 to 2040, inclusive, in whole or from time to time in part, in one or more units of $5,000, on June 1, 2033, or on any date thereafter prior to and in any order of maturity (and within a maturity by lot), upon terms of par and accrued interest. All bids must be for not less than a par amount of $5,557,500, plus accrued interest. The legal opinion of Dorsey & Whitney LLP, Attorneys, Des Moines, Iowa, will be furnished by the City. A good faith deposit of ONE PERCENT OF PAR ($56,250) is required of the successful bidder and may be forfeited to the City in the event the successful bidder fails or refuses to take and pay for the Bonds. The City reserves the right to reject any or all bids and to waive irregularities in any bid. The Bonds are being issued pursuant to the provisions of Chapter 384 of the Code of Iowa and will constitute general obligations of the City, payable from taxes levied upon all the taxable property in the City without limitation as to rate or amount. Bidders should be aware that the official terms of offering to be published in the Official Statement for the Bonds contain additional bidding terms and information relative to the Bonds, including, without limitation, requirements regarding the establishment of issue price for the Bonds. Bidders should prepare their bids on the assumption that the Bonds will be subject to the "hold-the-offering-price" rule, if the requirements for a competitive sale have not been met. Any bid submitted pursuant to this Notice of Sale will be considered a firm offer for the purchase of the Bonds, and bids submitted will not be subject to cancellation or withdrawal. In the event of a variance between statements in this Notice of Sale (except with respect to the time and place of the sale of the Bonds and the principal amount offered for sale) and said official terms of offering, the provisions of the latter shall control. By order of the City Council of the City of Clive, Iowa. Matthew Graham City Clerk October 13 2025 LIOW0385837