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HomeMy WebLinkAboutOrdinance 2026-62UNITED CITY OF YORKVILLE KENDALL COUNTY, ILLINOIS ORDINANCE NO. 2026-62 AN ORDINANCE AUTHORIZING AND PROVIDING FOR AN INSTALLMENT PURCHASE AGREEMENT FOR THE PURPOSE OF FINANCING THE COSTS OF CERTAIN WATER SYSTEM CAPITAL PROJECTS IN AND FOR THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, AND AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF A NOT TO EXCEED $35,000,000 DEBT CERTIFICATE, SERIES 2026B, OF SAID CITY EVIDENCING THE RIGHTS TO PAYMENT UNDER SUCH AGREEMENT, PRESCRIBING THE DETAILS OF THE AGREEMENT AND CERTIFICATE, PROVIDING SECURITY FOR AND MEANS OF PAYMENT UNDER THE AGREEMENT OF THE CERTIFICATE, AND AUTHORIZING THE EXECUTION AND DELIVERY OF A CONTINUING COVENANT AGREEMENT AND OTHER DOCUMENTS RELATED THERETO. Passed by the City Council of the United City of Yorkville, Kendall County, Illinois This 8"' day of September, 2026 STATE OF !LLlNplg COUNTY OF KENDALL FILED _ SEP 2 8 2026 Published in pamphlet form by the �° COUNTY CLERK authority of the Mayor and City Council �. KENDALL COUNTY of the United City of Yorkville, Kendall County, Illinois on September 18, 2026. ORDINANCE No. 2026-62 AN ORDINANCE AUTHORIZING AND PROVIDING FOR AN INSTALLMENT PURCHASE AGREEMENT FOR THE PURPOSE OF FINANCING THE COSTS OF CERTAIN WATER SYSTEM CAPITAL PROJECTS IN AND FOR THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, AND AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF A NOT TO EXCEED $35,000,000 DEBT CERTIFICATE, SERIES 2026B, OF SAID CITY EVIDENCING THE RIGHTS TO PAYMENT UNDER SUCH AGREEMENT, PRESCRIBING THE DETAILS OF THE AGREEMENT AND CERTIFICATE, PROVIDING SECURITY FOR AND MEANS OF PAYMENT UNDER THE AGREEMENT OF THE CERTIFICATE, AND AUTHORIZING THE EXECUTION AND DELIVERY OF A CONTINUING COVENANT AGREEMENT AND OTHER DOCUMENTS RELATED THERETO. WHEREAS, the United City of Yorkville, Kendall County, Illinois (the "City"), is a duly organized and existing non -home rule municipality created under the provisions of the laws of the State of Illinois, and is now operating under the provisions of the Illinois Municipal Code, as amended, 65 ILCS 511-1-1 et seq. (the "Municipal Code"), and the Local Government Debt Reform Act of the State of Illinois, and in particular Section 17(b) thereof (the "Debt Reform Act", and together with the Municipal Code, the "Installment Purchase Provisions"), in each case, as supplemented and amended (collectively, "Applicable Law"), and WHEREAS, the City has for many years owned and operated a municipally -owned water supply system (the "System ") pursuant to Division 129 of Article 11 of the Municipal Code; and WHEREAS, the City Council of the City (the "Corporate Authorities") have considered the needs of the City with respect to the System and, in doing so, have determined that it is advisable, necessary and in the best interests of the City to: (i) pay for costs to enhance the System, including, without limitation, to connect to a new source of water supply through the DuPage Water Conunission, and may include construction of a shared transmission main, construction of receiving stations and internal system improvements, including water main repair and replacements that are necessary to connect to and receive the new water supply (collectively, the "Project"), and (ii) pay the costs of issuance of the Certificate (as such term is hereinafter defined), all for the benefit of the inhabitants of the City; and WHEREAS, the estimated cost of the Project to be financed by the City by issuance of the Certificate, including engineering, legal, financial, printing and publication costs, capitalized interest, if any, and other expenses (collectively, the "Project Costs"), is not more than $35,000,000; and WHEREAS, sufficient funds of the City are not currently available to pay the Project Costs, and it will, therefore, be necessary to borrow money in the amount of not to exceed $35,000,000 for the purpose of paying such costs; and WHEREAS, pursuant to the Applicable Law, the City has the power to purchase real or personal property through agreements that provide that the consideration for the purchase may be paid through installments made at stated intervals for a period of no more than twenty (20) years, to sell, convey and reacquire either real or personal property upon any terms and conditions and in any manner as the Corporate Authorities shall determine, if the City will lease, acquire by purchase agreement, or otherwise reacquire the property as authorized by applicable law and to issue certificates evidencing indebtedness incurred under such agreements; and WHEREAS, the Corporate Authorities find that it is desirable and in the best interests of the City to avail of the provisions of the Installment Purchase Provisions to (i) authorize an Installment Purchase Agreement (the "Agreement") more particularly as described and provided below in the text of this Ordinance; (ii) name as counter -party to the Agreement the City Treasurer (the "Treasurer"), as nominee -seller; (iii) authorize the Mayor and City Clerk to execute and attest, respectively, the Agreement on behalf of the City and to file same with said Clerk in his or her FA capacity as keeper of the records and files of the City; and (iv) issue a certificate evidencing the indebtedness incurred under the Agreement in the amount of not to exceed $35,000,000 (the "Certificate"); and WHEREAS, in connection therewith, the City will deliver such debt certificate to BMO Bank N.A. (the "Purchaser") to evidence a loan made by the Purchaser to the City, and the Purchaser will purchase such debt certificate from the City, upon such terms and conditions as shall be set forth in the Notification of Sale and the Continuing Covenant Agreement (as said terms are hereinafter defined): NOW, THEREFORE, BE IT AND IT IS HEREBY ORDAINED BY THE CORPORATE AUTHORITIES OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, AS FOLLOWS: SECTION 1. Incorporation of Preambles; Definitions. The Corporate Authorities hereby find that all of the recitals contained in the preambles to this Ordinance are full, true and correct and do incorporate them into this Ordinance by this reference. In addition to the words and terms as defined in the preambles hereto, the defined words and terms used in this Ordinance shall have the meanings given them unless the context or use clearly indicates another or different meaning is intended. The headings in this Ordinance are for the convenience of the reader and are not a part of this Ordinance. SECTION 2. Authorization. It is necessary and advisable for the residents of the City to pay the costs of the Project and to borrow money and, in evidence thereof and for the purpose of financing same, enter into the Agreement and, further, to provide for the issuance and delivery of the certificate evidencing the indebtedness incurred under the Agreement. 3 SECTION 3. Agreement is a General Obligation; Annual Appropriation,, Contract to Issue Certificate. The City hereby represents, warrants, and agrees that the obligation to make the payments due under the Agreement shall be a lawful general obligation of the City payable from any funds of the City lawfully available and annually appropriated for such purpose. The City represents and warrants that the total amount due under the Agreement, together with all other indebtedness of the City, is within all applicable statutory and constitutional debt limitations of the State of Illinois. The City irrevocably agrees to appropriate funds of the City annually and in a timely manner so as to provide for the making of all payments when due under the terms of the Agreement. The funds from the sale of the Certificate be and they are hereby appropriated and set aside for the purpose hereinbefore set out. SECTION 4. Execution and Filing of the Agreement. From and after the effective date of this Ordinance, the Mayor and City Clerk be and they are hereby authorized and directed to execute and attest, respectively, the Agreement, in substantially the form set forth in Section 5 of this Ordinance, and to do all things necessary and essential to effectuate the provisions of the Agreement, including the execution of any documents and certificates incidental thereto or necessary to carry out the provisions thereof. Further, as nominee -seller, the Treasurer is hereby authorized and directed to execute the Agreement. Upon full execution, the original of the Agreement shall be filed with the City Clerk and retained in the City records and shall constitute authority for the issuance of the Certificate hereinafter authorized. SECTION 5. Form of the Agreement. Subject to such discretion of the officers signatory to the document as described herein, the Agreement shall be in substantially the form as follows: al Installment Purchase Agreement for purchase of real or personal property, or both, in and for the United City of Yorkville, Kendall County, Illinois. THIS INSTALLMENT PURCHASE AGREEMENT (this "Agreement") dated as of , 2026, by and between the Treasurer (as hereinafter defined), as Nominee -Seller (the "Seller"), and the United City of Yorkville, Kendall County, Illinois, a duly organized and existing non -home rule municipality incorporated and existing under the provisions of the laws of the State of Illinois (the "City"): WITNESSETH: A. The City Council of the City (the "Corporate Authorities") has determined to (i) finance the enhancement of the City's water supply system (the "System"), including, without limitation, to connect to a new source of water supply through the DuPage Water Commission, and may include construction of a shared transmission main, construction of receiving stations and internal system improvements, including water main repair and replacements that are necessary to connect to and receive the new water supply (collectively, the "Project"), and (ii) pay the costs of issuance of the Certificate (as hereinafter defined), all for the benefit of the inhabitants of the City. B. Pursuant to the provisions of the Illinois Municipal Code (the "Municipal Code"), and the Local Government Debt Reform Act of the State of Illinois, and in particular Section 17(b) thereof (the "Debt Reform Act", and together with the Municipal Code, the "Installment Purchase Provisions"), in each case, as supplemented and amended (collectively, "Applicable Law"), the City has the power to purchase real or personal property through agreements that provide that the consideration for the purchase may be paid through installments made at stated intervals for a period of no more than twenty (20) years, to sell, convey and reacquire either real or personal property upon any terms and conditions and in any manner as the Corporate Authorities shall E determine, if the City will lease, acquire by purchase agreement, or otherwise reacquire the property as authorized by applicable law and to issue certificates evidencing indebtedness incurred under such agreements. C. On the g`h day of September, 2026, the Corporate Authorities, pursuant to Applicable Law and the need to provide for the Project, adopted an ordinance (the "Ordinance") authorizing the borrowing of money for the Project, the execution and delivery of this Agreement to finance the Project, and the issuance of a certificate evidencing the indebtedness so incurred (the "Certificate") D. The Ordinance is (i) incorporated herein by reference; and (ii) made a part hereof as if set out at this place in full; and each of the terms as defined in the Ordinance is also incorporated by reference for use in this Agreement. E. The Seller, as nominee as expressly permitted by the Installment Purchase Provisions, has agreed to make, construct, and acquire the Project on the terms as hereinafter provided. Now, THEREFORE, in consideration of the mutual covenants and agreements hereinafter contained and other valuable consideration, it is mutually agreed between the Seller and the City as follows: l . MAKE AND ACQUIRE THE PROJECT The Seller agrees to make, construct, equip, acquire and provide for the Project upon real estate owned by the City. 2. CONVEYANCE The City conveys to the Seller any portion of the Project heretofore acquired by the City and to be paid from proceeds of the Certificate (as defined in the Ordinance). The Seiler agrees to G convey each part of the Project to the City and to perforn all necessary work and convey all necessary materials and equipment; and the City agrees to purchase the Project from the Seller and pay for the Project the purchase price of not to exceed $35,000,000, plus the amount of investment earnings which are earned on the amount deposited with the City's Treasurer (the "Treasurer") from the sale of the Certificate and in no event shall the total aggregate principal purchase price to be paid pursuant to this Agreement exceed the sum of $35,000,000, plus the amount of investment earnings which are earned on the amount deposited with the Treasurer from the sale of the Certificate. 3. PAYMENTS The payment of the entire purchase price in an amount not to exceed $35,000,000 shall: (a) be payable in installments due on the dates and in the amounts; (b) bear interest at the rates percent per annum which interest shall also be payable on the dates and in the amounts; and (c) be payable at the place or places of payment, in the medium of payment, and upon such other terms, including prepayment (redemption); all as provided for payment of the Certificate as set forth in the Ordinance. 4. ASSIGNMENT Rights to payment of the Seller as provided in this Agreement are assigned to the owners of the Certificate as a matter of law under the Installment Purchase Provisions. This Agreement and any right, title, or interest herein, shall not be further assignable so long as the Certificate remains outstanding; provided, however, that assignment for the benefit of refunding certificates which may be issued in the future to refund the Certificate shall be permitted. The Certificate, evidencing the indebtedness incurred hereby, is assignable (registrable) as provided in the Ordinance. 7 5. TAX COVENANTS The covenants relating to the tax-exempt status of the Certificate, as set forth in the Ordinance, insofar as may be applicable, apply to the work to be performed and the payments made under this Agreement. 6. TITLE (a) Vesting of Title. Title in and to any part of the Project, upon delivery or as made, during all stages of the making or acquisition thereof, shall and does vest immediately in the City. (b) Damage, Destruction and Condemnation. If, during the term of this Agreement, (i) all or any part of the Project shall be destroyed, in whole or in part, or damaged by fire or other casualty or event; or (ii) title to, or the temporary or permanent use of, all or any part of the Project shall be taken under the exercise of the power of eminent domain by any governmental body or by any person, firm, or corporation acting under governmental authority; or (iii) a material defect in construction of all or any part of the Project shall become apparent; or (iv) title to or the use of all or any part of the Project shall be lost by reason of a defect in title; then the City shall continue to make payments as promised herein and in the Certificate and to take such action as it shall deem necessary or appropriate to repair and replace the Project. 7. LAWFUL CORPORATE OBLIGATION The City hereby represents, warrants, and agrees that the obligation to make the payments due hereunder shall be a lawful direct general obligation of the City payable from the general funds of the City and such other sources of payment as are otherwise lawfully available. The City represents and warrants that the total amount due the Seller hereunder, together with all other indebtedness of the City, is within all applicable statutory and constitutional debt limitations of the State of Illinois. The City agrees to appropriate funds of the City annually and in a timely manner so as to provide for the making of all payments when due under the terms of this Agreement and to apply the proceeds thereof to the payment of principal and interest on this Agreement. 8. GENERAL COVENANT AND RECITAL It is hereby certified and recited by the Seller and the City, respectively, that as to each, respectively, for itself, all conditions, acts, and things required by law to exist or to be done precedent to and in the execution of this Agreement did exist, have happened, been done and performed in regular and due form and time as required by law. 9. NO SEPARATE TAX THE SELLER AND THE CITY RECOGNIZE THAT THERE IS NO STATUTORY AUTHORITY FOR THE LEVY OF A SEPARATE TAX IN ADDITION TO OTHER TAXES OF THE CITY OR THE LEVY OF A SPECIAL TAX UNLIMITED AS TO RATE OR AMOUNT TO PAY ANY OF THE AMOUNTS DUE HEREUNDER. 10, DEFAULT In the event of a default in payment hereunder by the City, the Seller or any Certificate holder may pursue any available remedy by suit at law or equity to enforce the payment of all amounts due or to become due under this Agreement, including, without limitation, an action for specific performance. (the balance of this page is intentionally left blank) IN WITNESS WHEREOF, the Seller has caused this Installment Purchase Agreement to be executed, and his or her signature to be attested by the City Clerk, and the City has caused this Installment Purchase Agreement to be executed by the Mayor, and also attested by the City Clerk and the seal of the City to be hereunto affixed. all as of the day and year first above written. SELLER: Signature: Rob Fredrickson, as Nominee -Seller and the City Treasurer Attest: By: Its: City Clerk UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS By: Its: [SEAL] Attest: By: Its: City Clerk Mayor IN STATE OF ILLINOIS ) ) SS COUNTY OF KENDALL } CERTIFICATE OF INSTALLMENT PURCHASE AGREEMENT FILING 1, the undersigned, do hereby certify that I am the duly qualified and acting City Clerk (the "City Clerk") of the United City of Yorkville, Kendall County, Illinois (the "City"), and as such officer I do hereby certify that on the day of September, 2026, there was filed in my office a properly certified copy of that certain document, executed by the Mayor, attested by me in my capacity as City Clerk, and further executed, as Nominee -Seller, by the City Treasurer, also attested by me, dated as of September , 2026, and entitled "Installment Purchase Agreement for purchase of real or personal property, or both, in and for the United City of Yorkville, Kendall County, Illinois"; and supporting the issuance of a certain Debt Certificate, Series 2026B, of the City; that attached hereto is a true and complete copy of said Agreement as so filed; and that the same has been deposited in the official files and records of my office. IN WITNESS WHEREOF, I hereunto affix my official signature, this day of September, 2026. 11 City Clerk SECTION 6. Certificate Details. (a) For the purpose of providing for the Project, there shall be issued and sold to the Purchaser a single Certificate in the principal amount of not to exceed $35,000,000. The Certificate shall be designated "Debt Certificate, Series 2026B" with such alternative or additional designations necessary to properly identify the Certificate as set forth in the hereinafter defined Notification of Sale. The Certificate shall be payable to the Purchaser or registered assigns as provided herein. The Certificate shall be dated as set forth in the hereinafter defined Notification of Sale, and shall also bear the date of authentication, shall be in fully registered form, and shall be in the denomination as set forth in the Notification of Sale. The Certificate shall become due and payable on December 1, 2030 or as otherwise set forth in the Notification of Sale of the Certificate (the "Notification of Sale") and in that certain Continuing Covenant Agreement (the "Continuing Covenant Agreement"), to be dated the date of the Notification of Sale, between the City and the Purchaser and relating to the sale of the Certificate to the Purchaser. (b) The Certificate shall bear interest on the Outstanding Principal Amount (as hereinafter defined) at a variable rate per annum as set forth in the Notification of Sale; provided, however, that in no event shall the Certificate bear interest at a rate percent per annum in excess of nine percent (9.0%). The Certificate shall be issued as a draw -down Certificate, pursuant to which Advances (as hereinafter defined) of the principal amount thereof are made from time to time during the Availability Period (as hereinafter defined) upon the request of the City and subject to such conditions as may be set forth in the Notification of Sale and the Continuing Covenant Agreement. The "Outstanding Principal Amount" of the Certificate at any time shall be made up of (i) the Face Amount (as hereinafter defined) as is advanced by the Purchaser and received for 12 value (each, an "Advance" and, collectively, the "Advances") less the sum of (ii)(a) principal installment payments and (b) redemptions and prepayments of principal. (c) The provisions set forth in this subsection may be modified as necessary to accormnodate the terms upon which the Certificate is sold to the Purchaser as set forth in the Notification of Sale and the Continuing Covenant Agreement. The maximum principal face amount (the "Face Amount") of the Certificate shall be shown on the face of the Certificate as not to exceed $35,000,000, but only so much of the Face Amount as has been Advanced, as evidenced by the Certificate, shall be payable. The initial Advance shall occur on the date of the issuance of the Certificate and shall be in the amount set forth in the Notification of Sale, such amount to be not less than $50,001 (the "Initial Advance"). The final Advance shall occur not later than the date set forth in the Notification of Sale, the same being the earlier of (1) two (2) years from the date of the Initial Advance or (ii) such date as set forth in the Notification of Sale (such latest date of Advance being referred to herein as the "Final Draw Date"). The period from the Initial Advance to the earlier to occur of (x) the Final Draw Date and (y) the date on which the entire Face Amount has been drawn is referred to herein as the "Availability Period." (d) The Certificate shall bear interest on the Outstanding Principal Amount from the time advanced or from the most recent interest payment date to which interest has been paid or duly provided for, until the principal amount of the Certificate is paid, such interest (computed upon the basis of a year of 360 days and actual days elapsed) being payable monthly as set forth in the Notification of Sale, commencing with the first interest payment date as set forth in the Notification of Sale, and thereafter to maturity. 13 (e) The Notification of Sale, the Continuing Covenant Agreement and the Certificate may contain all other required terms and matters necessary for the closing and issuing of the Certificate, including, without limitation, those terms and matters specifically provided for herein. (f) Interest on the Certificate shall be paid by check or draft of the City to the bank or trust company with an office located in the State of Illinois set forth in the Notification of Sale, or as otherwise set forth in the Notification of Sale, as certificate registrar and paying agent (the "Certificate Registrar"), payable upon presentation in lawful money of the United States of America, to the person in whose name such Certificate is registered at the close of business on the fifteenth (15"') day of each month or fifteen (15) days preceding the interest payment date, as applicable and as set forth in the Notification of Sale (the "Record Date"). The principal of the Certificate shall be payable in lawful money of the United States of America at the principal corporate trust office of the Certificate Registrar. (g) The Certificate shall be signed by the manual signature of the Mayor and City Clerk, and shall be countersigned by the Treasurer, and the seal of the City shall be affixed thereto or printed thereon, and in case any officer whose signature shall appear on the Certificate shall cease to be such officer before the delivery of the Certificate, such signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until delivery. (h) The Certificate shall have thereon a certificate of authentication substantially in the form hereinafter set forth duly executed by the Certificate Registrar as authenticating agent of the City and showing the date of authentication. The Certificate shall not be valid or obligatory for any purpose or be entitled to any security or benefit under this Ordinance unless and until such certificate of authentication shall have been duly executed by the Certificate Registrar by manual 14 signature, and such certificate of authentication upon the Certificate shall be conclusive evidence that the Certificate has been authenticated and delivered under this Ordinance. The certificate of authentication on any Certificate shall be deemed to have been executed by the Certificate Registrar if signed by an authorized officer of the Certificate Registrar. SECTION 7. Registration of Certificate; Persons Treated as Owners. The City shall cause books (the "Certificate Register") for the registration and for the transfer of the Certificate as provided in this Ordinance to be kept at the office maintained for such purpose by the Certificate Registrar, which is hereby constituted and appointed the registrar of the City. The City is authorized to prepare, and the Certificate Registrar shall keep custody of, multiple Certificate blanks executed by the City for use in the transfer and exchange of the Certificate. The Certificate may be transferred as a whole but not in part, but only in the manner, subject to the limitations, and upon payment of the changes set forth in this Ordinance and the Continuing Covenant Agreement. Upon surrender for transfer of the Certificate at the principal corporate trust office of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument or instruments of transfer in form satisfactory to the Certificate Registrar and duly executed by, the registered owner or an attorney for such registered owner, duly authorized in writing, the City shall execute and the Certificate Registrar shall authenticate, date and deliver in the name of the transferee or transferees a new fully registered Certificate of like tenor, of the same maturity, bearing the same interest rate, of authorized denominations, for a like aggregate principal amount. The execution by the City of any fully registered Certificate shall constitute full and due authorization of such Certificate and the Certificate Registrar shall thereby be authorized to authenticate, date and deliver such Certificate, provided, however, the principal amount of the 15 Certificate authenticated by the Certificate Registrar shall not at any one time exceed the authorized principal amount of Certificate less the amount of the Certificate which has been paid. The Certificate Registrar shall not be required to transfer or exchange the Certificate during the period from the close of business on the Record Date for any interest payment date on such Certificate to the opening of business on such interest payment date, nor to transfer or exchange the Certificate after notice calling the Certificate for redemption has been mailed, nor during a period of fifteen (15) days of mailing of a notice of redemption of the Certificate. The person in whose name the Certificate shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of the principal of or interest on the Certificate shall be made only to or upon the order of the registered owner thereof or his, her or its legal representative. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Certificate to the extent of the sum or sums so paid. No service charge shall be made for any transfer or exchange of Certificate, but the City or the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of the Certificate except in the case of the issuance of a Certificate for the unredeemed portion of the Certificate or as otherwise set forth in the Continuing Covenant Agreement. SECTION 8. Redemption. The Certificate shall be subject to redemption prior to maturity, at the option of the City, in whole or in part, from any available funds, at any time at the redemption price of par plus accrued interest to the date of redemption, plus any applicable breakage fees as may be set forth in the Continuing Covenant Agreement. The City shall, at least three (3) days prior to any optional redemption date, notify the Certificate Registrar and the Purchaser of such r redemption date and of the principal amount of the Certificate to be redeemed as shall be provided in the Continuing Covenant Agreement. SECTION 9. Redemption Procedure. Prior to any redemption date, the City shall deposit with the Certificate Registrar an amount of money sufficient to pay the redemption price of the Certificate or portion thereof which is to be redeemed on that date. If such moneys are not received, the City shall not redeem the Certificate or portion thereof. Notice of redemption having been given as aforesaid, the Certificate or portion thereof so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified, and from and after such date (unless the City shall default in the payment of the redemption price) such Certificate or portion thereof shall cease to bear interest. Upon surrender of the Certificate for redemption in accordance with said notice, the Certificate or relevant portion thereof shall be paid by the Certificate Registrar at the redemption price. Installments of interest due on or prior to the redemption date shall be payable as herein provided for payment of interest. Upon surrender for any partial redemption of the Certificate, there shall be prepared for the registered holder a new Certificate in the amount of the unpaid principal. SECTION 10. Form of Certificate. The Certificate shall be in substantially the following. form, with such changes as necessary to reflect the terms and provisions of the Notification of Sale, the Continuing Covenant Agreement and the Term Sheet (as hereafter defined) and such other changes as the Designated Officials shall approve: 17 REGISTERED NO. 1 UNITED STATES OF AMERICA STATE OF ILLINOIS COUNTY OF KENDALL UNITED CITY OF YORKVILLE DEBT CERTIFICATE, SERIES 2026B Interest Rate: Maturity Date: Dated Date: Variable Rate December 30, 2030 , 2026 Registered Owner: BMO Bank N.A. Maximum Principal Amount: Thirty -Five Million Dollars ($35,000,000) KNOW ALL PERSONS BY THESE PRESENTS, that the United City of Yorkville, Kendall County, Illinois (the "City"), hereby acknowledges itself to owe and for value received promises to pay from the source and as hereinafter provided to the Registered Owner identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Maximum Principal Amount identified above as is advanced by the Purchaser (as hereinafter defined) and received for value, less the sum of (a) principal installment payments and (b) redemptions and prepayments of principal (the "Outstanding Principal Amount") and to pay interest (computed on the basis of a 360 days and actual days elapsed) on such Outstanding Principal Amount from the date of this Certificate or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum set forth above monthly, commencing 2026, until said Outstanding Principal Amount is paid. Principal of this Certificate is payable (subject to the right of prior redemption, if any, hereinafter stated) upon presentation and surrender hereof at the principal corporate trust office of BMO Bank N.A., Chicago, Illinois, as certificate registrar and paying agent (the "Certificate Registrar") IN Payment of the installments of interest shall be made to the Registered Owner hereof as shown on the registration books of the City maintained by the Certificate Registrar at the close of business on the fifteenth (15t") day of each month or fifteen (15) days preceding each interest payment date and shall be paid by check or draft of the City Treasurer, as certificate registrar and paying agent (the "Certificate Registrar"), payable upon presentation in lawful money of the United States of America, mailed to the address of such Registered Owner hereof as it appears on such registration books or at such other address furnished in writing by such Registered Owner to the Certificate Registrar. This Certificate shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed by the Certificate Registrar. This Certificate is issued by the City to (i) finance the enhancement of the City's water supply system (the "System") by connecting to a new source of water supply through the DuPage Water Commission, and may include construction of a shared transmission main, construction of receiving stations and internal system improvements, including water main repair and replacements that are necessary to connect to and receive the new water supply (collectively, the "Project"), and (ii) pay the costs of issuance of this Certificate, all for the benefit of the inhabitants of the City, in full compliance with the provisions of the Illinois Municipal Code (the "Municipal Code"), and the Local Government Debt Reform Act of the State of Illinois, and in particular Section 17(b) thereof (the "Debt Reform Act"), and all laws amendatory thereof and supplementary thereto, and is authorized by the Mayor and City Council of the City by an ordinance duly and properly adopted for that purpose on September 8, 2026, in all respects as provided by law. This Certificate has been issued in evidence of the indebtedness incurred pursuant to a certain Installment Purchase Agreement (the "Agreement"), dated the date hereof, entered into by and 19 between the City and the City Treasurer thereof, as Seller -Nominee, to which reference is hereby expressly made for further definitions and terns and to all the provisions of which the holder by the acceptance of this Certificate assents. This Certificate is subject to optional redemption in whole or in part at any time at the redemption price of par plus accrued interest to the date of redemption. Notice of any such redemption shall be sent by first class mail not less than three (3) days prior to the date fixed for redemption to the registered owner of this Certificate at the address shown on the registration books of the City maintained by the Certificate Registrar or at such other address as is furnished in writing by such registered owner to the Certificate Registrar. When so called for redemption, this Certificate will cease to bear interest on the specified redemption date, provided funds for redemption are on deposit at the place of payment at that time, and shall not be deemed to be outstanding. This Certificate is subject to provisions relating to registration, transfer and exchange, and such other terms and provisions relating to security and payment, as are set forth in the Ordinance and in that certain Continuing Covenant Agreement between the City and BMO Bank N.A. (the "Purchaser"); to which reference is hereby expressly made; and to all the terms of which the Registered Owner hereof is hereby notified and shall be subject. The City and the Certificate Registrar may deem and treat the Registered Owner hereof as the absolute owner hereof for the purpose of receiving payment of or on account of principal hereof and interest due hereon and for all other purposes and neither the City nor the Certificate Registrar shall be affected by any notice to the contrary. 20 The table and form following the signatures on this Certificate and entitled "Advances for Value" is an integral part of this Certificate as if fully set forth at this place and is incorporated herein by this reference thereto. It is hereby certified and recited that all conditions, acts, and things required by the Constitution and Laws of the State of Illinois to exist or to be done precedent to and in the issuance of this Certificate have existed and have been properly done, happened, and been performed in regular and due form and time as required by law; that the obligation to make payments due hereon is a lawful direct general obligation of the City payable from the corporate funds of the City and such other sources of payment as are otherwise lawfully available; that the total amount due under the Installment Purchase Agreement, represented by this Certificate, together with all other indebtedness of the City, is within all statutory and constitutional debt limitations; and that the City shall appropriate funds annually and in a timely manner so as to provide for the making of all payments hereon when due. THE OWNER OF THIS CERTIFICATE ACKNOWLEDGES THAT THERE IS NO STATUTORY AUTHORITY FOR THE LEVY OF A SEPARATE TAX IN ADDITION TO OTHER TAXES OF THE CITY OR THE LEVY OF SPECIAL TAX UNLIMITED AS TO RATE OR AMOUNT TO PAY ANY OF THE AMOUNTS DUE HEREUNDER. 21 IN" WITNESS WHEREOF. the United City of Yorkville. Kendall County, Illinois, by its City Council, has caused this Certificate to be signed by the Mayor and the City Clerk, and to be countersigned by the City Treasurer, and has caused the seal of the City to be affixed hereto or printed hereon, all as of the Dated Date identified above. [SEAL] Countersigned: Bv: Its: City Treasurer UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS By: Its: Mayor Bv: Its: City Clerk Date of Authentication: .2026 22 CERTIFICATE Certificate Registrar and Paying Agent: OF AUTHENTICATION Rob Fredrickson, City Treasurer Yorkville, Illinois This Certificate is the Certificate described in the within -mentioned ordinance and is the Debt Certificate, Series 2026B, of the United City of Yorkville, Kendall County, Illinois City Treasurer AssIGNMENT FOR VALUE RECEIVED, the undersigned sells, assigns and transfer unto: (Name and Address of Assignee) the within Certificate and does hereby irrevocably constitute and appoint Attorney to transfer the said Certificate on the books kept for registration thereof with full power of substitution in the premises. Dated: Signature guaranteed: NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears upon the face of the within Bond in every particular, without alteration or enlargement or any change whatever. 23 ADVANCES FOR VALUE This Certificate is valid to the amount set forth below, the aggregate of such amounts being its Outstanding Principal Amount (subject to reduction for redemption and prepayment, as provided herein). AMOUNT ADVANCED DATE ADVANCED SIGNATURE OF TREASURER 24 SECTION 11. Sale of Certificate. The Mayor or the Treasurer or designees or assigns, or any of them acting together (the "Designated Officials") are hereby authorized to proceed, without any further authorization or direction whatsoever from the City Council, to sell and deliver the Certificate upon the terms as prescribed in this Ordinance. The Designated Officials shall be and are hereby authorized and directed to sell the Certificate in a private placement to the Purchaser pursuant to the Continuing Covenant Agreement; provided that (a) the Purchaser shall deliver an investment letter to the City (in the form approved by the Designated Officials) stating, among other things, that the Purchaser is either (i) an institutional "accredited investor" within the meaning of Regulation D, Section 501 through 506, or (ii) a "qualified institutional buyer" within the meaning of Rule t44A, under the Securities Act of 1933, as amended; and (b) the Continuing Covenant Agreement shall contain such restrictions, as the Designated Officials shall determine are necessary or advisable, on the transfer of the Certificate by the Purchaser or by any accredited investor or qualified institutional buyer to which the Purchaser transfers the Certificate or any portion thereof. The Certificate shall be sold and executed as in this Ordinance provided as soon after the delivery of the Notification of Sale as may be, and the proceeds from such sale, to the extent not directly applied to pay for issuance costs, at the time the Certificate is issued, shall thereupon be deposited with the Treasurer, and be by the Treasurer delivered to or at the direction of the City's Municipal Advisor in accordance with the terms and provisions of the Notification of Sale, upon receipt of the Purchase Price therefor, the same being the purchase price set forth in the Notification of Sale (plus accrued interest, if any, to date of delivery). The Designated Officials as shall be appropriate shall be and are also hereby authorized and directed to approve or execute, or both, the Notification of Sale, the Agreement, the Continuing 25 Covenant Agreement and such other documents of sale of the Certificate as may be necessary, including, without limitation, a term sheet from the Purchaser relating to the purchase of the Certificate (the "Term Sheet'), a tax compliance agreement and an IRS Form 8038-G, if applicable, and such closing documents as shall be necessary for the issuance and sale of the Certificate. The Designated Officials are hereby authorized to execute, without further official action or direction by the City Council, such additional documents as shall be required to effectuate the delivery of the Certificate. The Corporate Authorities hereby approve the execution and delivery by the City of the Continuing Covenant Agreement in the form to be approved by the Designated Officials of the City and attached to the Notification of Sale. The execution and delivery of the Continuing Covenant Agreement shall constitute conclusive evidence of the approval of the Designated Officials and the approval of the City of the final form thereof. The Continuing Covenant Agreement shall be substantially in the form of loan agreements commonly used in transactions similar to that described in this Ordinance, with such changes as necessary to reflect the terms and provisions of the Certificate, this Ordinance, the Notification of Sale, the Term Sheet and such other changes as the Designated Officials shall determine are necessary or desirable in connection with the sale of the Certificate. No person holding any office of the City, either by election or appointment, is in any manner financially interested directly in his own name or indirectly in the name of any other person, association, trust or corporation, in the Purchaser. The City Clerk is directed to enter the Notification of Sale into the records of the City and make available to the City Council a copy of such executed Notification of Sale at the first regularly scheduled meeting of the City Council following the execution of the same, but such PLO, action shall be for information purposes only, and the City Council shall have no right or authority at such time to approve or reject such sale as evidenced in the Notification of Sale. Nothing in this Section shall require the Designated Officials to sell the Certificate if, in their judgment, the conditions in the bond markets shall have markedly deteriorated from the time of adoption hereof, but the Designated Officials shall have the authority to sell the Certificate in any event so long as the limitations set forth in this Ordinance and the conditions of this Section shall have been met. As a further exercise of this authority, the Designated Officials may sell the Certificate in more than one series; and, in such event, shall be authorized to change the name of the Certificate for each such series so that such series may properly be identified separately. The Notification of Sale shall be made a part of the transcript of the proceedings related to the issuance of the Certificate. The Designated Officials must find and determine in the Notification of Sale that no person holding any office of the City either by election or appointment, is in any manner financially interested either directly, in his or her own name, or indirectly in the name of any other person, association, trust or corporation in said bond purchase agreement(s) with the Purchaser for the purchase of the Certificate. The officers, agents and employees of the City, including, without limitation, the Designated Officials, are hereby authorized, empowered and directed to do all such acts and things and to execute and deliver all such documents and certificates as may be necessary to carry out and comply with the provisions of this Ordinance and the Continuing Covenant Agreement. All acts and undertakings of the officers of the City which are in conformity with the purposes and intent of this Ordinance and in furtherance of the issuance and sale of the Certificate shall be, and the same hereby are, in all respects, ratified, approved and confirmed. 27 The selection and retention of (i) Croke Fairchild Duarte & Beres LLC, Chicago, Illinois, to serve as bond counsel (`Bond Counsel"), (ii) Ottosen DiNolfo Hasenbalg & Castaldo, Ltd., to serve as City counsel; (iii) Speer Financial, Inc. as the City's Municipal Advisor, and (iv) all other participants or substitutes required to sell the Certificate is hereby ratified, confirmed and approved. SECTION 12. Use of Certificate Proceeds. There is hereby created and established a special fund of the City known as the "Debt Certificate Fund of 202613" (the "Certificate Fund") to be held by the Treasurer, which is a trust fund established for the purpose of carrying out the covenants, terms and conditions imposed upon the City by this Ordinance. The Certificate Fund shall be the fund for the payment of the principal of and interest on the Certificate at maturity or on interest payment dates or redemption. Funds lawfully available for the purpose of paying the principal of and interest on the Certificate shall be deposited into the Certificate Fund and used solely and only for such purpose. Interest income or investment profit earned in the Certificate Fund shall be retained in the Certificate Fund for payment of the principal of or interest on the Certificate on the interest payment date next after such interest or profit is received or, to the extent lawful and as determined by the City, transferred to such other fund as may be determined. The Certificate is secured by a pledge of all moneys on deposit in the Certificate Fund, and such pledge is irrevocable until the Certificate has been paid in full or until the obligations of the City are discharged under this Ordinance. Accrued interest and premium received at the time of delivery of the Certificate, if any, shall be deposited into the Certificate Fund. The principal proceeds of the Certificate and any premium received on the delivery of the Certificate are hereby appropriated to pay the costs of issuance of the Certificate and for the purpose of paying the cost of the Project, and that portion thereof not needed to pay such costs of issuance is hereby ordered deposited into the "Capital Improvement Account of the City" (the "Project F'uncP'), hereby created. It is hereby found and determined and hereby declared and set forth that the Corporate Authorities (i) have not entered into an agreement of any kind with any entity, party or person (including, but not limited to, the Purchaser) to not expend the proceeds of the Certificate deposited into the Project Fund for any period of time and (ii) is not required by any contract, decree, instrument, order, regulation or ruling, to not expend the proceeds of the Certificate deposited into the Project Fund for any period of time. Proceeds of the Certificate shall be deposited into the Project Fund, and the Project Fund shall be used for the purpose of paying for the costs of the Project and costs of issuance. Interest received from deposits in the Project Fund shall, at the discretion of the Corporate Authorities, either be transferred for the payment of the principal of and interest on the Certificate on the interest payment date next after such interest is received or be retained in the Project Fund. In the event that any moneys remain in the Project Fund upon completion of the Project, the City shall deposit the remaining moneys in the Project Fund in the Certificate Fund and shall cause such moneys to be used to pay the interest on the Certificate on the earliest possible date. In addition to the funds established hereunder, the Mayor is authorized and directed to establish, and the Treasurer is further authorized to hold, any and all funds and/or accounts they deem necessary or convenient to the accomplishment of the purposes set forth in this Ordinance. Moneys in the Project Fund shall be used to pay costs of the Project in accordance with the following procedures: 1. Contracts ("Work Contracts") have been or shall be awarded, from time to time, by the Corporate Authorities for the work on the Project; and the Corporate Authorities represents and covenants that each Work Contract has been or will be let in strict accordance with the applicable laws of the State of Illinois, and the rules and procedures of the City for same. 29 2. Pursuant to this Ordinance or any subsequent ordinance or ordinances to be duly adopted, the Corporate Authorities shall identify all or a designated portion of each Work Contract to the Agreement. This Ordinance, any such further ordinance and said Work Contracts shall be filed of record with the City Clerk and the City Treasurer. The adoption and filing of any such ordinance or ordinances and the Work Contracts with such officers shall constitute authority for the City Treasurer to make disbursements from the Project Fund to pay amounts due under such Work Contracts from time to time, upon such further ordinances, resolutions, orders, vouchers, warrants, or other proceedings as are required under the applicable laws of the State of Illinois, and the rules and procedures of the City for same. No action need be taken by or with respect to the contractors under the Work Contracts as, pursuant to the Installment Purchase Provisions, the City Treasurer acts as Nominee -Seller of the Project for all purposes, enabling the issuance of the Certificate. Alternatively to the creation of the funds described above, the appropriate officers may allocate the funds to be deposited into the Certificate Fund or proceeds of the Certificate to one or more related funds of the City already in existence and in accordance with good accounting practice; provided, however, that this shall not relieve such officers of the duty to account and invest such funds and the proceeds of the Certificate, as herein provided, as if the funds described above had in fact been created. SECTION 13. Non -Arbitrage and Tax -Exemption. The City hereby covenants that it will not take any action, omit to take any action or permit the taking or omission of any action within its control (including, without limitation, making or permitting any use of the proceeds of the Certificate) if taking, permitting or omitting to take such action would cause any portion of the Certificate to be an arbitrage bond or a private activity bond within the meaning of the Internal Revenue Code of 1986, as amended (the "Code"), or would otherwise cause the interest on the Certificate to be included in the gross income of the recipients thereof for federal income tax purposes. The City acknowledges that, in the event of an examination by the Internal Revenue Service (the "IRS") of the exemption from Federal income taxation for interest paid on the Certificate, under present rules, the City may be treated as a "taxpayer" in such examination and Wt agrees that it will respond in a commercially reasonable manner to any inquiries from the IRS in connection with such an examination. In furtherance of the foregoing provisions, but without limiting their generality, the City agrees: (a) through its officers, to make such further specific covenants, representations as shall be truthful, and assurances as may be necessary or advisable; (b) to comply with all representations, covenants and assurances contained in certificates or agreements as may be prepared by Bond Counsel, including, without limitation, a tax compliance agreement; (c) to consult with such counsel and to comply with such advice as may be given; (d) to file such forms, statements and supporting documents as may be required and in a timely manner; (e) to pay to the United States, as necessary, such sums of money representing required rebates of excessive arbitrage profits relating to the Certificate; and (f) if deemed necessary or advisable by its officers, to employ and pay fiscal agents, municipal advisors, attorneys and other persons to assist the City in such compliance. The City recognizes that Section 149(a) of the Code requires the Certificate to be issued and to remain in fully registered form in order that interest thereon is exempt from federal income taxation under laws in force at the time the Certificate is delivered. In this connection, the City agrees that it will not take any action to permit the Certificate to be issued in, or converted into, bearer or coupon form. The Certificate is not a "qualified tax-exempt obligation" for the purposes and within the meaning of Section 265(b)(3) of the Code. SECTION 14. List of Certificate Holders. The Certificate Registrar shall maintain a list of the names and addresses of the holders of the Certificate and upon any transfer shall add the name 31 and address of the new Certificate holder and eliminate the name and address of the transferor Certificate holder. SECTION 15. Duties of Certificate Registrar. If requested by the Certificate Registrar, the Mayor and City Clerk are authorized to execute the Certificate Registrar's standard forin of agreement between the City and the Certificate Registrar with respect to the obligations and duties of the Certificate Registrar hereunder which may include the following: (a) to act as certificate registrar, authenticating agent, paying agent and transfer agent as provided herein; (b) to maintain a list of Certificate holders as set forth herein and to furnish such list to the City upon request, but otherwise to keep such list confidential; (c) to give notice of redemption of Certificate as provided herein; (d) to cancel and/or destroy any Certificate which has been paid at maturity or upon earlier redemption or submitted for exchange or transfer; (e) to furnish the City at least annually a certificate with respect to any Certificate cancelled and/or destroyed; and (f) to furnish the City at least annually an audit confirmation of the amount of the Certificate paid, the amount of the Certificate outstanding and payments made with respect to interest on the Certificate. SECTION 16. Severability. if any section, paragraph, clause or provision of this Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this Ordinance. 32 SECTION 17. Repeal. Ordinance No. 2026-52 passed by the Mayor and City Council on July 28, 2026 and all other ordinances, resolutions or parts thereof in conflict herewith be and the same are hereby repealed, and this Ordinance shall be in full force and effect forthwith upon its adoption. Adopted: September 8, 2026. AYES: Funkhouser, Corneils, Transier, Soling, Marek, Hyett, Koch, Plocher NAYS: None ABSENT. None APPROVED this Sch day of September, 2026. 1 By: Its: Mayor Attest: By: rx)� TAa��'Z-- "1 Its: C y Clerk a�"tj GAY 33 Aldennan Marek moved and Aldennan Plocher seconded the motion that said ordinance as presented by adopted. After a full discussion thereof, the Mayor directed that the roll be called for a vote upon the motion to adopt said ordinance as read. Upon the roll being called, the following Aldermen voted AYE: Funkhouser, Corneils, Transier, Soling, Marek, Hyett, Koch, Plocher. The following Aldermen voted NAY: None. Whereupon the Mayor declared the motion carried and said ordinance adopted, approved and signed the same in open meeting and directed the Secretary to record the same in full in the records of the City Council of the United City of Yorkville, Kendall County, Illinois, which was done. Other business not pertinent to the adoption of said ordinance was duly transacted at said meeting. Upon motion duly made, seconded and carried, the meeting was adjourned. By:.`-'� City Clerk 34 STATE OF ILLINOIS ) ) SS COUNTY OF KENDALL ) CERTIFICATION OF MINUTES AND ORDINANCE I, the undersigned, do hereby certify that I am the duly qualified and acting City Clerk of the United City of Yorkville, Kendall County, Illinois (the "City Clerk"), and as such official I am the keeper of the records and files of the Corporate Authorities. I do further certify that the foregoing constitutes a full, true and complete transcript of the minutes of the meeting of the Corporate Authorities held on the 8t"' day of September, 2026, insofar as same relates to the adoption of an ordinance entitled: AN ORDINANCE AUTHORIZING AND PROVIDING FOR AN INSTALLMENT PURCHASE AGREEMENT FOR THE PURPOSE OF FINANCING THE COSTS OF CERTAIN WATER SYSTEM CAPITAL PROJECTS IN AND FOR THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, AND AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF A NOT TO EXCEED $35,000,000 DEBT CERTIFICATE, SERIES 2026B, OF SAID CITY EVIDENCING THE RIGHTS TO PAYMENT UNDER SUCH AGREEMENT, PRESCRIBING THE DETAILS OF THE AGREEMENT AND CERTIFICATE, PROVIDING SECURITY FOR AND MEANS OF PAYMENT UNDER THE AGREEMENT OF THE CERTIFICATE, AND AUTHORIZING THE EXECUTION AND DELIVERY OF A CONTINUING COVENANT AGREEMENT AND OTHER DOCUMENTS RELATED THERETO, a true, correct and complete copy of which said ordinance as adopted at said meeting appears in the foregoing transcript of the minutes of said meeting. I do further certify that the deliberations of the Corporate Authorities on the adoption of said ordinance were conducted openly, that the vote on the adoption of said ordinance was taken openly, that said meeting was called and held at a specified time and place convenient to the public, that notice of said meeting was duly given to all of the news media requesting such notice, that an agenda for said meeting was posted at the location where said meeting was held and at the principal office of the Corporate Authorities at least 48 hours in advance of the holding of said meeting, a true, correct and complete copy of said agenda as so posted is attached hereto as Exhibit A, that said meeting was called and held in strict compliance with the provisions of the Open Meetings Act of the State of Illinois, as amended, and with the provisions of the Illinois Municipal Code, as amended, and that the Corporate Authorities has complied with all of the provisions of said Act and said Code and with all of the procedural rules of the Corporate Authorities. IN WITNESS WHEREOF, I hereunto affix my official signature and seal of said City, this 8th day of September, 2026. [SEAQ By, cSY%11 iWd--� City Clerk X—k--ew�- puC Y L STATE OF ILLINOIS } ) SS COUNTY OF KENDALL } FILING CERTIFICATE 1, the undersigned, do hereby certify that I am the duly qualified and acting City Clerk of the United City of Yorkville, Kendall County, Illinois (the "City"), and as such officer I do hereby certify that on the day of . M- , 2026, there was filed with one, and placed on deposit in my records, a properly certified copy of an ordinance adopted by the Corporate Authorities on the 8t" day of September, 2026, and entitled: AN ORDINANCE AUTHORIZING AND PROVIDING FOR AN INSTALLMENT PURCHASE AGREEMENT FOR THE PURPOSE OF FINANCING THE COSTS OF CERTAIN WATER SYSTEM CAPITAL PROJECTS IN AND FOR THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, AND AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF A NOT TO EXCEED $35,000,000 DEBT CERTIFICATE, SERIES 202613, OF SAID CITY EVIDENCING THE RIGHTS TO PAYMENT UNDER SUCH AGREEMENT, PRESCRIBING THE DETAILS OF THE AGREEMENT AND CERTIFICATE, PROVIDING SECURITY FOR AND MEANS OF PAYMENT UNDER THE AGREEMENT OF THE CERTIFICATE, AND AUTHORIZING THE EXECUTION AND DELIVERY OF A CONTINUING COVENANT AGREEMENT AND OTHER DOCUMENTS RELATED THERETO, together with any Work Contracts identified by the adoption of said ordinance and attached thereto as Exhibit 1, and that the same have all been deposited in, and all as appears from, the official files and records of my office. IN WITNESS WHEREOF, I hereunto affix my official signature and the seal of the City, this n day of , 2026. By: b �-� [SEAL] City Clerk C�e� C/,- EST. 1836 p� in �—LE � O United City of Yorkville 651 Prairie Pointe Drive Yorkville, Illinois 60560 Telephone: 630-553-43 50 www.yorkville.il.us AGENDA CITY COUNCIL MEETING Tuesday, September S, 2026 7:00 p.m. City Hall Council Chambers 651 Prairie Pointe Drive, Yorkville, IL Call to Order: PIedge of Allegiance: Roll Call by Clerk: WARD I WARD lI WARD III WARD IV Ken Koch Arden Joe Plocher Chris Funkhouser Rusty Corneils Dan Transier Craig Soling Matt Marek Rusty Hyett Establishment of Quorum: Amendments to Agenda: Presentations: 1. Recognition of Alden Kolkmeyer — Two -Time AAU Junior Olympic National Champion 2. Yorkville American Legion War Memorial Upgrades Public Hearings: Citizen Comments on Agenda Items: Consent Agenda: 1. Minutes of the Regular City Council August 25, 2026 2. Bill Payments for Approval $ 3,384,818.43 (vendors) $ 495,377.00 (payroll period ending 08/28/26) $ 3,880,195.43 (total) Mayor's Report: 1. CC 2026-44 2026B Debt Certificates — Revised Parameters a. Ordinance Authorizing the Third Amendment to the Annual Budget of the United City of Yorkville, for the Fiscal Year Commencing on May 1, 2026 and Ending on April 30, 2027 b. Ordinance authorizing and providing for an installment purchase agreement for the purpose of financing the costs of certain water system capital projects in and for the United City of Yorkville, Kendall County, Illinois, and authorizing and providing for the issuance of a not to exceed $35,000,000 debt certificate, Series 2026B, of said City evidencing the rights to payment under such agreement, prescribing the details of the agreement and certificate, providing security for and means of payment under the agreement of the certificate, and authorizing the execution and delivery of a continuing covenants agreement and other documents related thereto. City Council Agenda September 8, 2026 Page 2 Mayor's Report (cont'd): 2. CC 2026-52 Constitution Week Proclamation 3. CC 2026-53 Independence Day Fireworks and Drone Show Contract a. Ordinance Authorizing the Fourth Amendment to the Annual Budget of the United City of Yorkville, for the Fiscal Year Commencing on May 1, 2026 and Ending on April 30, 2027 b. Resolution Authorizing a Contract with Mad Bomber Fireworks Productions for the Purchase of Fireworks for a City -Sponsored Fireworks Display for July 3, 2027 and July 4, 2028 4. CC 2026-54 Resolution in Support of an Illinois Transportation Enhancement Program (ITEP) Grant Application for Pedestrian 1 Bicycle Facilities Along Cannonball Trail from Blackberry Shore Lane to IL Route 47 Public Works Committee Report: Economic Development Committee Report: 1. EDC 2026-51 Hydraulic District Development — Brownfield Testing Proposal a. Ordinance Authorizing the Fifth Amendment to the Annual Budget of the United City of Yorkville, for the Fiscal Year Commencing on May 1, 2026 and Ending on April 30, 2027 b. Resolution Approving a Contract with Terracon Consultants, Inc. for Brownfield Remediation Work in Downtown Yorkville Public Safety Committee Report: Administration Committee Report: Park Board: Planning and Zoning Commission: City Council Report: City Clerk's Report: Community and Liaison Report: Staff Report: Mayor's Report (cont'd): 5. CC 2025-08 Public Works and Parks Department Facility Update 6. CC 2025-09 Lake Michigan Water Project Update Additional Business: Citizen Comments: Executive Session: Adjournment: City Council Agenda September 8, 2026 Page 3 COMMITTEES, MEMBERS AND RESPONSIBILITIES --____---------------- --z ADMINISTRAT-ION:_ September---16,---2026------_6:--00 p.m. - East -- Conference------ ------- Room #337 ---- ---------------------- ------------------------------------ - ---- Committee Departments Liaisons Chairman: Alderman Corneils Finance Library Vice-Chainnan: Alderman Marek Administration Committee: AIderman Koch Com nittee: Alderman Funkhouser --- -- — - — - - ----- - ---- ----- ---- ---------- -- ------ --- --- --- ---- , ;ECONOMIC DEVELOPMENT: October 6, 2026=6:00 p.m. - East Conference Room #33-7; Committee Departments Liaisons Chairman: Alderman Koch Community Development Planning & Zoning Commission Vice -Chairman: Alderman Plocher Building Safety & Zoning Kendall Co. Plan Commission Committee: AIderman Marek Committee: Alderman Hyett - -- --------------- --- -------------- --------------- --------- ---- -- PUBLIC SAFETY_ November 5, 2026 - 6:00_p.m. -East Conference Room #33� — -- -- - - - - - -- -- - ---- --- --- ------------ -_-------- ---------------- - Committee Departments Liaisons Chairman: Alderman Funkhouser Police School District Vice -Chairman: Alderman Transier Committee: Alderman Soling Committee: Alderman Hyett -------- ----------------------------------------- UBLIC WORKS: September 15, 2026 - 6:00 p.m.1' _�East Conference Room #33 ----------------------------------------- ---------------------- ---------- ------ --------- ------ ---- --------------------------- Committee Departments Liaisons Chairman: Alderman Soling Public Works Park Board Vice -Chairman: Alderman Corneils Committee: Alderman Transfer Committee: Alderman Plocher Engineering YB SD Parks and Recreation