204108 SUMMARY OF ORDINANCE NO. 2026-02 AN ORDINANCE OF THE CITY OF JULIAETTA, LATAH COUNTY, IDAHO, AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF A SEWER REVENUE BOND, SERIES 2026, IN THE PRINCIPAL AMOUNT NOT TO EXCEED $750,000, FOR THE PURPOSE OF FINANCING THE ACQUISITION, CONSTRUCTION AND INSTALLATION OF IMPROVEMENTS TO THE SANITARY SEWER SYSTEM OF THE CITY OF JULIAETTA, LATAH COUNTY, IDAHO; DESCRIBING THE BOND; PROVIDING FOR THE COLLECTION AND DISPOSITION OF REVENUES; PROVIDING FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE BOND; ESTABLISHING FUNDS AND ACCOUNTS; PROVIDING COVENANTS RELATING TO THE BOND; PROVIDING FOR THE SALE OF THE BOND TO THE UNITED STATES OF AMERICA, ACTING THROUGH THE DEPARTMENT OF AGRICULTURE, RURAL UTILITIES SERVICE; PROVIDING FOR RELATED MATTERS; AND PROVIDING AN EFFECTIVE DATE A summary of the principal provisions of Ordinance No. 2026-02 of the City of Juliaetta, Latah County, Idaho, adopted on February 24, 2026, is as follows: Section 1: Defines the terms and phrases used in the ordinance. Section 2: Describes the sewer improvement project to be constructed with the proceeds of the Bond authorized by the Ordinance, and states that an amount not to exceed $750,000 of the cost thereof is to be paid from the sale of the Bond of the City described in Section 3. Section 3: Describes the City of Juliaetta Sewer Revenue Bond, Series 2026 (the "Bond"), and provides for the terms of payment and the maturity of the Bond. Section 4: Provides for the manner and method of execution of the Bond. Section 5: Provides for the place and manner of payment of the Bond. Section 6: Appoints the City Treasurer as Bond Registrar. Section 7: Provides for the prepayment of the Bond. Section 8: Provides for sewer rates and charges. Section 9: Pledges the Net Revenues of the Sewer System for the payment of the Bond. Section 10: Establishes the "City of Juliaetta Sewer Project Capital Improvement Fund." Section 11: Establishes the "City of Juliaetta Sewer Revenue Fund." Section 12: Establishes the "City of Juliaetta Sewer Revenue Bond Fund." Section 13: Provides for a Debt Service Reserve Fund. Section 14: Provides for the disposition of surplus funds. Section 15: Establishes the conditions of and limitations on the issuance of additional bond or other obligations. Section 16: Provides for the investment of surplus funds. Section 17: Provides certain general covenants of the City with the Registered Owners of the Bond. Section 18: Provides certain special covenants of the City with respect to the exclusion of interest on the Bond from income taxation. Section 19: Provides for method of amending the Ordinance and adopting supplemental ordinances. Section 20: Recites that the Bond is issued pursuant to the Idaho Revenue Bond Act. Section 21: Provides for remedies of the Registered Owner of the Bond. Section 22: States that the Ordinance constitutes a contract with the Registered Owner of the Bond. Section 23: Provides for severability. Section 24: Repeals prior inconsistent ordinances, to the extent of any inconsistency. Section 25: Authorizes the Mayor, City Clerk, and City Treasurer to execute any additional documents necessary to sell and deliver the Bond. Section 26: Provides for the publication of the Ordinance or a summary thereof and the effective date of the Ordinance. The full text of Ordinance No. 2026-02 is available at City Hall and will be provided to any citizen upon personal request during normal office hours. DATED this 24th day of February, 2026. CITY OF JULIAETTA Latah County, Idaho /s/ Nick Anderson Mayor ATTEST: /s/ Cheyane M. Nelson City Clerk