SUMMARY FOR PUBLICATION ORDINANCE NO. 1696 CITY OF LACEY The City Council of the City of Lacey, Washington, passed on March 3, 2026, Ordinance No. 1696, entitled "AN ORDINANCE OF THE CITY OF LACEY, WASHINGTON, PROVIDING FOR THE ISSUANCE AND SALE OF A WATER AND SEWER REVENUE BOND IN THE PRINCIPAL AMOUNT OF $224,060.45 TO FINANCE CERTAIN SEWER UTILITY PROJECTS; FIXING THE FORM AND TERMS OF THE BOND; AND PROVIDING FOR THE SALE OF THE BOND TO THE CITY'S LID DEBT FUND." The main points of the Ordinance are described as follows: Section 1. Defines terms used throughout the ordinance. Section 2. Authorization and covenants regarding payment and registration of the bond. Section 3. Provides provisions for prepayment of the bond. Section 4. Description of the City's pledge of gross revenues of the Waterworks Utility. Section 5. Description of the established bond fund for the purpose of repayment of principal of and interest on the bond. Section 6. Declaration of adequacy of revenues available for payment of the bond. Section 7. The City pledges to collect assessments levied in ULID No. 25. Section 8. The City reserves the right to issue additional revenue bonds, notes or warrants senior or on a parity to the lien on the net revenues of the system pledged to the bond. Section 9. Provides the form of the bond. Section 10. Describes the process to execute the bond. Section 11. Manner of sale of the bond and delivery of the bond. Section 12. Description of the project fund used for the purpose of paying the costs of the project. Section 13. Authorization of officials and agents. Section 14. Describes the severability provisions. Section 15. Sets the effective date of this ordinance as five (5) days after its passage and publication. A copy of the full text of this Ordinance will be mailed without charge to any person requesting the same from the City of Lacey. Published: March 5, 2026. IPL0319636 Mar 5 2026