Resolution No. 2026-007 - A Resolution Approving the Bond Purchase Agreement for the sale of General Obligation Urban Renewal Bonds, Series 2026A

Tiffin / 436989-52 / DRAFT Auth BPA & Iss GO CP Bonds 2026A [Bond insurance placeholder] Furthermore, the Bond Insurer is hereby approved, and the Mayor and City Administrator are hereby authorized to execute and deliver any and all agreements, documents and instruments required related to the issuance of the municipal bond insurance related to the Bonds. The Bond Insurer is a third-party beneficiary under this resolution. Any insurance provisions required by the Bond Insurer to be included in this resolution and set forth in its commitment are hereby made a part of this resolution and incorporated herein, and the City Clerk is authorized to attach a copy of such insurance provisions, if required, to this resolution. Section 3. The Bonds, in the aggregate principal amount of $13,500,000, are hereby authorized to be issued in evidence of the City’s obligations under the Loan Agreement. The Bonds shall be dated February 17, 2026, shall be issued in the denomination of $5,000 each or any integral multiple thereof and shall mature on June 1 in each of the years, in the respective principal amounts, and bearing interest at the respective rates as follows: Date Principal Interest Rate Date Principal Interest Rate 2028 $ 510,000 _____% 2036 $ 885,000 _____% 2029 $ 620,000 _____% 2037 $ 920,000 _____% 2030 $ 640,000 _____% 2038 $ 955,000 _____% 2031 $ 655,000 _____% 2039 $ 990,000 _____% 2032 $ 675,000 _____% 2040 $1,030,000 _____% 2033 $ 695,000 _____% 2041 $1,070,000 _____% 2034 $ 720,000 _____% 2042 $1,115,000 _____% 2035 $ 855,000 _____% 2043 $1,165,000 _____% Section 3. UMB Bank, n.a., West Des Moines, Iowa, is hereby designated as the Registrar and Paying Agent for the Bonds and may be hereinafter referred to as the “Registrar” or the “Paying Agent.” The City shall enter into an agreement (the “Registrar/Paying Agent Agreement”) with the Registrar, in substantially the form as has been placed on file with the Council; the Mayor and City Clerk are hereby authorized and directed to sign the Registrar/Paying Agent Agreement on behalf of the City; and the Registrar/Paying Agent Agreement is hereby approved. The City reserves the right to optionally prepay part or all of the principal of the Bonds maturing in the years 2033 to 2043, inclusive, prior to and in any order of maturity on June 1, 2032, or on any date thereafter upon terms of par and accrued interest. If less than all of the Bonds of any like maturity are to be redeemed, the particular part of those Bonds to be redeemed shall be selected by the Registrar by lot. The Bonds may be called in part in one or more units of $5,000. [Term bond placeholder] Principal of the Bond maturing on June 1, 2036 is subject to mandatory redemption (by lot, as selected by the Registrar) on June 1 in each of the years, 2033, 2034, and 2035, at a redemption price of 100% of the principal amount thereof to be redeemed, plus accrued interest thereon to the redemption date, in the following principal amounts: Year Principal -3- DORSEY & WHITNEY LLP, ATTORNEYS, DES MOINES, IOWA