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 City Council of the City of Highland, Illinois (the "City"), on the 6th day of October, 2025, the City intends to issue its General Obligation Bonds (Alternate Revenue Source) in an aggregate principal amount not to exceed $2,000,000 (the "Bonds") for the purpose of providing funds to construct and improve certain streets, including sidewalks, curbs, gutters and related facilities (the "Project"). The revenue sources that will be pledged to the payment of the principal of and interest on the Bonds will be (a) proceeds received by the City from time to time from the issuance of it general obligation bonds to the fullest extent permitted by law, including Section 8-5-16 of the Code, and (b) such other funds of the City as may be lawfully available and annually appropriated for such payment (collectively, the "Pledged Revenues"). The City will also levy ad valorem property taxes upon all taxable property in the City without limitation as to rate or amount to pay the principal of and interest on the Bonds. A complete copy of the Ordinance follows this notice. Notice is hereby further given that a petition signed by 544 or more electors of the City (said number of electors being equal to the greater of (1) 7.5% of the registered voters in the City, or (2) 200 of those registered voters or 15% of those registered voters, whichever is less) may be submitted to the City Clerk within 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 City Clerk within thirty (30) days of the publication of this notice and the Ordinance, the question of the issuance of the Bonds shall be submitted to the electors of the City at the primary election to be held on March 17, 2026, if such question can be and is presented at such election, and otherwise at the next election at which such question could be presented under the general election laws. 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 with the City Clerk within said 30-day period, the Bonds shall be authorized to be issued. By order of the City Council of the City of Highland, Illinois. Dated this 6th day of October, 2025. /s/ Barbara Bellm City Clerk City of Highland, Illinois ORDINANCE NO. 3403 ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS (ALTERNATE REVENUE SOURCE) OF THE CITY OF HIGHLAND, ILLINOIS TO FINANCE CERTAIN STREET PROJECTS WHEREAS, the City of Highland, Illinois (the "City") is a duly organized and existing non-home rule unit of government and municipality of the State of Illinois and is now operating under the provisions of the Illinois Municipal Code, as amended (the "Code"); and WHEREAS, the City Council of the City (the "City Council") has determined that it is advisable, necessary and in the best interests of the City to construct and improve certain streets, including sidewalks, curbs, gutters and related facilities (the "Project"), all in accordance with the preliminary plans and estimates on file in the office of the City Clerk, and there are insufficient funds on hand and lawfully available to pay such costs; and WHEREAS, the estimated cost of the Project, including capitalized interest, underwriter's discount, and all other costs of issuance related to the issuance of bonds, does not exceed $2,000,000; and WHEREAS, the City is authorized under the provisions of the Code and the Local Government Debt Reform Act, as amended (collectively, the "Act") to incur indebtedness and issue and sell its General Obligation Bonds (Alternate Revenue Source) in an aggregate principal amount not to exceed $2,000,000 (the "Bonds") to finance the costs of the Project; and WHEREAS, the revenue source or sources that will be pledged to the payment of the Bonds are (a) proceeds received by the City from time to time from the issuance of it general obligation bonds to the fullest extent permitted by law, including Section 8-5-16 of the Code, and (b) such other funds of the City as may be lawfully available and annually appropriated for such payment (collectively, the "Pledged Revenues"); and WHEREAS, if the Pledged Revenues are insufficient to pay the principal and interest when due on the Bonds, ad valorem property taxes levied upon all taxable property in the City without limitation as to rate or amount will be authorized to be extended and collected to pay the principal of and interest on the Bonds; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF HIGHLAND, ILLINOIS, AS FOLLOWS: Section 1. Incorporation of Recitals. The City Council hereby finds that the recitals to this Ordinance are true, complete and correct and hereby incorporates them in to this Ordinance. Section 2. Determination to Issue Bonds. It is necessary and in the best interests of the City to undertake the Project in accordance with the preliminary plans and estimates described above and the Bonds are hereby authorized to be issued for such purpose and sold from time to time in an aggregate principal amount not to exceed $2,000,000. Section 3. Publication. This Ordinance, together with a notice in substantially the form attached hereto as Exhibit A, shall be published in a newspaper of general circulation in the City, and if no petition asking that the issuance of the Bonds be submitted to referendum, signed by the greater of (1) 7.5% of the registered voters in the City, or (2) 200 of those registered voters or 15% of those registered voters, whichever is less, is filed with the City Clerk 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 referred to above, then the City Council 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 or the purposes 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. Reimbursement. The City expects to make capital expenditures after the date of this Ordinance in connection with the Project and the City intends to reimburse itself for such expenditures with the proceeds of the Bonds. The maximum principal amount of Bonds expected to be issued for the Project is $2,000,000. Section 6. 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 7. 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. Passed by the City Council and approved by the Mayor of the City of Highland, Illinois and deposited and filed in the office of the City Clerk on the 6th day of October, 2025, the vote being taken by ayes and noes and entered upon the legislative record as follows: Aye: Klaus, Sloan, Bellm, Napper. Noes: None. APPROVED: /s/ Kevin B. Hemann Mayor City of Highland Madison County, Illinois ATTEST: Attest: /s/ Barbara Bellm City Clerk City of Highland Madison County, Illinois