Public hearing on proposed bond issuance for park projects in Sterling Park District.

NOTICE OF INTENT TO ISSUE BONDS AND RIGHT TO FILE PETITION and hearing on proposed issuance Notice is hereby given that pursuant to Ordinance No. 2026-05, adopted on February 16, 2026, the Sterling Park District, Whiteside County, Illinois (the “District”), intends to issue alternate bonds, being general obligation bonds (the “Bonds”) payable from the hereinafter identified revenue source, in an aggregate principal amount not to exceed $5,250,000.00, and bearing interest per annum at not to exceed the maximum rate authorized by law at the time the Bonds are sold, for the purpose of (i) financing the payment of land condemned or purchased for parks or boulevards, for the building, maintaining, improving and protecting of the same and for the payment of the expenses incident thereto , and (ii) paying certain costs of issuance of the Bonds. The Bonds shall be payable from (a) the principal proceeds received by the District from time to time from the issuance of its general obligation bonds or notes to the fullest extent permitted by law, including Section 6-4 of the Park Code, and (b) ad valorem taxes levied against all of the taxable property in the District without limitation as to rate or amount. The ordinance authorizing the issuance of the Bonds is attached hereto and appears below this notice. Notice is hereby further given that if a petition signed by 850 or more registered voters of the District is submitted to the Secretary of the Board (the “Secretary”) within 30 days of publication of this notice, asking that the question of the issuance of the Bonds be submitted to referendum, then the question of the issuance of the Bonds shall be submitted to the electors of the District at the general election to be held on the 3rd day of November, 2026. If no petition is filed with the Secretary within said 30-day period, the Bonds shall be authorized to be issued. A form of petition is available from the Secretary at the principal office of the District at 1913 Third Avenue, Sterling, Illinois. Larry Schuldt, Secretary, Sterling Park District, Whiteside County, Illinois ORDINANCE NO. 2026-05 AN ORDINANCE authorizing the issuance of General Obligation Park Bonds (Alternate Revenue Source), Series 2026 of the Sterling Park District, Whiteside County, Illinois, in an aggregate principal amount not to exceed $5,250,000.00 for the purpose of financing the costs of certain capital projects within the District, paying capitalized interest and paying for costs related thereto. WHEREAS, the Sterling Park District, Whiteside County, Illinois (the “District”), is a Park District and body politic of the State of Illinois (the “State”), duly created, organized and existing under the Park District Code of the State, as amended (the “Park Code”), and having the powers, objects and purposes provided by said Park Code; and WHEREAS, the Board of Park Commissioners of the District (the “Board”) has determined that it is necessary to (i) finance the payment of land condemned or purchased for parks or boulevards, for the building, maintaining, improving and protecting of the same and for the payment of the expenses incident thereto (the “Project”), and (ii) pay certain costs of issuance of the Bonds (as such term is hereinafter defined), all for the benefit of the inhabitants of the District; and WHEREAS, the estimated cost of the Project, including legal, financial, bond discount, printing and publication costs, capitalized interest, and other expenses (collectively, the “Costs”), is not less than $5,250,000.00, and there are insufficient funds on hand and lawfully available to pay such costs; and WHEREAS, up to $5,250,000.00 of alternate bonds need to be issued at this time pursuant to the Local Government Debt Reform Act of the State, as amended (the “Act”); and WHEREAS, it is necessary for the best interests of the District that the Project be completed, and in order to raise funds required for such purpose it will be necessary for the District to borrow an aggregate principal amount of not to exceed $5,250,000.00 and in evidence thereof to issue alternate bonds, being general obligation bonds payable from the principal proceeds received by the District from time to time from the issuance of its general obligation bonds or notes to the fullest extent permitted by law, including Section 6-4 of the Park Code (the “Pledged Revenues”), in accordance with the provisions of the Act and the Park Code; and WHEREAS, if the above-mentioned revenue source is insufficient to pay the alternate bonds, ad valorem property taxes levied against all of the taxable property in the District without limitation as to rate or amount (the “Pledged Taxes”) are authorized to be extended to pay the principal of and interest on the alternate bonds; WHEREAS, pursuant to and in accordance with the provisions of Section 15 of the Act, the District is authorized to issue alternate bonds in an aggregate principal amount not to exceed $5,250,000.00 for the purpose of providing funds for the Project and to pay the Costs; NOW THEREFORE, Be It Ordained by the Board of Park Commissioners of the Sterling Park District, Whiteside County, Illinois, as follows: Section 1. Incorporation of Preambles. The Board hereby finds that all of the recitals contained in the preambles to this Ordinance are full, true and correct and does incorporate them into this Ordinance by this reference. Section 2. Determination To Issue Bonds. It is necessary and in the best interests of the District to finance the Project and to pay the Costs; therefore, alternate bonds of the District are hereby authorized to be issued and sold in an aggregate principal amount not to exceed $5,250,000.00, and to be known as “General Obligation Park Bonds (Alternate Revenue Source), Series 2026” (the “Bonds”) of the District, said Bonds being payable from (i) the principal proceeds received by the District from time to time from the issuance of its general obligation bonds or notes to the fullest extent permitted by law, including Section 6-4 of the Park Code the (“Pledged Revenues”), and (ii) ad valorem taxes levied against all of the taxable property in the District without limitation as to rate or amount (the “Pledged Taxes”). Section 3. Publication. This Ordinance, together with a notice in the statutory form, shall be published once by the Board in The Daily Gazette; the same being a newspaper of general circulation in the District, and if no petition, signed by 850 electors (said number being the greater of (i) seven and one-half percent (7½%) of the registered voters in the District or (ii) the lesser of 200 registered voters or 15% of registered voters), asking that the question of the issuance of the Bonds be submitted to the electors of the District at the general election to be held on the 3rd day of November, 2026, is filed with the Secretary of the Board within thirty (30) days after the date of the publication of this Ordinance and said notice, then this Ordinance shall be in full force and effect and the Bonds shall be authorized to be issued. 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, as amended. A petition form shall be provided by the Secretary at the principal office of the District, located at 1913 Third Avenue, Sterling, Illinois, to any individual requesting one. Section 4. Additional Ordinances. If no petition meeting the requirements of applicable law is filed during the petition period hereinabove referred to, then the Board 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 purposes described herein. Such additional ordinances or proceedings shall in all instances become effective in accordance with applicable law. This Ordinance, together with such additional ordinances or proceedings, shall constitute complete authority for the issuance of the Bonds under applicable law. Section 5. Additional Proceedings. If no petition meeting the requirement of applicable law is filed during the petition period hereinabove referred to, then the preparation and distribution of a preliminary official statement relating to the Bonds is hereby approved, and the President is hereby authorized to deem the preliminary official statement nearly final. 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. Section 8. Effective Date. This Ordinance shall be in full force and effect from and after its passage and approval in the manner provided by law. PASSED this 16th day of February, 2026. APPROVED by me this 16th day of February, 2026. Marvin Reyes, President, Sterling Park District, Whiteside County, Illinois Larry Schuldt, Secretary, Sterling Park District, Whiteside County, Illinois Notice of Public Hearing Concerning the Intent of the Board of Park Commissioners of the Sterling Park District, Whiteside County, Illinois to Sell Not to Exceed $5,250,000.00  General Obligation Park Bonds (Alternate Revenue Source), Series 2026 Public Notice Is Hereby Given that the Sterling Park District, Whiteside County, Illinois (the “District”), will hold a public hearing on the 16th day of March, 2026, at 6:00 o'clock P.M. The hearing will be held at the Duis Center, 211 East St. Mary's Road, Sterling, Illinois. The purpose of the hearing will be to receive public comments on the proposal to sell bonds of the District to an amount not to exceed $5,250,000.00 for the payment of land condemned or purchased for parks or boulevards, for the building, maintaining, improving and protecting of the same and for the payment of the expenses incident thereto. By Order of the President of the Board of Park Commissioners of the Sterling Park District, Whiteside County, Illinois. Dated the 16th day of February, 2026. Larry Schuldt, Secretary, Sterling Park District, Whiteside County, Illinois Feb. 20, 2026