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connection with the sale of the Bonds. The actions of the City staff and the Municipal Advisor in negotiating the sale of the Bonds are ratified and confirmed in all aspects. 1.02. Award to the Purchaser and Interest Rates. The proposal of Robert W Baird & Co., Inc., as syndicate manager (the “Purchaser”), to purchase the Bonds of the City is hereby found and determined to be a reasonable offer and is hereby accepted, the proposal being to purchase the Bonds at a price of $3,037,341.24 (par amount of the Bonds of $2,895,000, plus original issue premium of $171,871.65, less an underwriter’s discount of $29,530.41), plus accrued interest, if any, as set forth in the Purchase Agreement (defined below), to date of delivery for Bonds bearing interest as follows: Year Interest Rate Year Interest Rate 2027 5.00% 2035 5.00% 2028 5.00% 2036 4.00% 2029 5.00% 2037 4.00% 2030 5.00% 2038 4.00% 2031 5.00% 2039 4.00% 2032 5.00% 2040 4.00% 2033 5.00% 2041 4.00% 2034 5.00% True interest cost: 3.7139575% 1.03. Purchase Agreement. The execution and delivery of a proposal form, dated as of April 28, 2025 (the “Purchase Agreement”), between the City and the Purchaser, is hereby ratified and confirmed in the form set forth in EXHIBIT A to this resolution (the “Resolution”). The Bonds shall be issued and delivered in accordance with the terms and conditions of the Purchase Agreement and this Resolution. The amount proposed by the Purchaser in excess of the minimum bid, if any, shall be credited to the Debt Service Fund hereinafter created or deposited in the Construction Fund hereinafter created, as determined by the Finance Director in consultation with the Municipal Advisor. The Municipal Advisor is directed to receive and retain the good faith payment of the Purchaser in accordance with the terms of the Purchase Agreement, pending completion of the sale of the Bonds. The Mayor and City Administrator are authorized and directed to execute a contract with the Purchaser on behalf of the City. 1.04. Terms and Principal Amounts of the Bonds. The City shall forthwith issue and sell the Bonds pursuant to the Act in the total principal amount of $2,895,000, originally dated May 20, 2025, in fully registered form and in denominations of $5,000 each or any integral multiple thereof, numbered No. R-1 upward, bearing interest as above set forth, and maturing serially on February 1 in the years and amounts as follows: DOCSOPEN-AR200-22-1009630.v5-4/28/25 3