Resolutions-2025-074

CLOSING CERTIFICATE We, the undersigned, Mayor and City Clerk of the City of Tiffin, Iowa (the “City”), do hereby certify as of September 12, 2025 (the “Dated Date”), that we are now and were at the time of the execution of the City’s $14,384,000 Water Revenue Bond, Series 2025, dated the date hereof (the “Series 2025 Bond”), the officers respectively above indicated of the City; that in pursuance of Chapter 384 of the Code of Iowa, a resolution adopted by the City Council on August 19, 2025 (the “Resolution”), and a certain Loan and Disbursement Agreement (the “Agreement”), by and between the City and the Iowa Finance Authority, Des Moines, Iowa, as lender (the “Lender”), the Series 2025 Bond has been heretofore lawfully authorized and this day by us lawfully issued and delivered to the Lender and pursuant to the Agreement, the Lender shall loan to the City the maximum sum of $14,384,000. Terms not otherwise defined herein shall have the meaning given such terms in the Resolution and the Agreement. The Series 2025 Bond has been executed by the aforesaid officers; the certificate on the back of the Series 2025 Bond has been executed by the City Treasurer; and the Series 2025 Bond has been fully registered as to principal and interest in the name of the Lender on the registration books of the City. We further certify that the Series 2025 Bond is being issued to evidence the City’s obligation under the Agreement entered into by the City for the purpose of providing funds to pay a portion of the cost of planning, designing and constructing improvements and extensions (the “Project”) to the Municipal Waterworks Utility System of the City (the “Utility”). The City reasonably expects that the assets comprising the Project will be used for the public, governmental purposes of the City (and not for private business use) throughout the period in which the Series 2025 Bond will be outstanding. The City does not anticipate entering into any contracts allowing for private business use of these assets or providing special payments to the City from any private business with respect to the Project or the Series 2025 Bond. We further certify that no controversy or litigation is pending, prayed or threatened involving the incorporation, organization, existence or boundaries of the City or the titles of the aforesaid officers to their respective positions or the proceedings incident to the authorization of the Series 2025 Bond or in any way concerning the validity of the Series 2025 Bond or the power and duty of the City to appropriate and apply the Net Revenues (as defined in the Resolution) from the operation of the Utility to the full and prompt payment of the principal of and interest on the Series 2025 Bond, and that none of the proceedings incident to the authorization and issuance of the Series 2025 Bond have been repealed or rescinded. We further certify that no appeal of the decision of the City Council to enter into the Agreement and to issue the Series 2025 Bond has been taken to the district court. We further certify that the City has no other bonds or obligations of any kind now outstanding secured by or payable from the revenues to be derived from the operation of the Utility. We further certify that no board of trustees has been created for the management and control of the Utility and such management and control are vested in the Council of the City.