2026-13 Ordinance Authorizing the Issuance and Sale of (i) Revenue Bonds (Millikin University), Series 2026A, and (ii) Taxable Revenue Bonds (Millikin University), Series 2026B of the City of Decatur, Macon County, Illinois, in an aggregate principal

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changes and revisions therein from the form of Bond Purchase Agreement now before the City Council; that from and after the execution and delivery of the Bond Purchase Agreement, the officials, employees and agents of the City are hereby authorized, empowered and directed to do all such acts and things and to execute all such documents as may be necessary to carry out and comply with the provisions of the Bond Purchase Agreement as executed; and that the Bond Purchase Agreement shall constitute, and hereby is made, a part of this Ordinance, and a copy of the Bond Purchase Agreement shall be placed in the official records of the City and shall be available for public inspection at the office of the City Clerk. Section 8. The Bonds. In order to obtain funds to lend to the University for to accomplish the Financing Purposes, there is hereby authorized the issuance of not in excess of $53,000,000 in aggregate principal amount of the Bonds. The Bonds shall be issued in all respects in compliance with the Indenture referred to in Section 5 hereof. The Bonds shall not represent or constitute a debt of the City within the meaning of the provisions of the Constitution or statutes of the State of Illinois or a pledge of the full faith and credit of the City. The Bonds and the interest payable thereon shall not give rise to a pecuniary liability of the City or a charge against its general credit or taxing powers. The Bonds and the interest and premium, if any, payable thereon, shall be limited obligations of the City and shall be payable solely from payments to be made under the Loan Agreement and on the Notes and as otherwise provided in the Indenture. The forms of the Bonds now before the City Council, subject to appropriate insertions and revisions in order to comply with the provisions of the Indenture (as executed and delivered) be, and the same hereby is, approved; that the Bonds shall be executed in the name, for and on behalf of the City with the manual or facsimile signature of its Mayor and attested with the manual or facsimile signature of its City Clerk and the official seal of the City shall be impressed or imprinted thereon; that the Bonds shall bear interest at one or more fixed rates not to exceed a weighted average rate of (i) 7.50% per annum (without regard to original issue discount or premium) with respect to the Tax-Exempt Bonds, and (ii) 9.00% per annum (without regard to original issue discount or premium) with respect to the Taxable Bonds, and shall be payable over a term not to exceed 40 years from date of issuance; that the Mayor of the City or the City Clerk shall cause the Bonds, as so executed and attested, to be delivered to the Trustee for authentication; and that when the Bonds are executed on behalf of the City in the manner contemplated by the Indenture and this Ordinance in an aggregate principal amount not to exceed $53,000,000, they shall represent the approved form of Bonds of the City. Section 9. Official Statement. That the preparation and distribution of a Preliminary Official Statement and an Official Statement by the Underwriter is hereby approved, such Preliminary Official Statement and Official Statement in substantially the same form as the draft of the Preliminary Official Statement now before the City Council or with such changes or revisions therein as shall be approved by the Mayor of the City, and that the Mayor of the City hereby is authorized, empowered and directed to certify that the information contained in the Preliminary Official Statement and the Official Statement under the headings "THE CITY" and "LITIGATION - The City," to the extent such information pertains to the City, is in a form "deemed final" by the City for purposes of Rule 15c2-12 promulgated by the Securities and Exchange Commission. -5-