===== PDF PAGE 71 ===== 51703805.4/163024.00004 MINUTES of a regular public meeting of the Board of Park Commissioners of the West Chicago Park District, DuPage County, Illinois, held at the Main Office, Conference Center, 201 West National Street, West Chicago, Illinois, in said Park District, at 6:00 o’clock P.M., on the 13th day of October, 2026. * * * The President called the meeting to order and directed the Secretary to call the roll. Upon the roll being called, Frank Lenertz, the President, and the following Park Commissioners were present: The following Park Commissioners were allowed by a majority of the members of the Park Board in accordance with and to the extent allowed by rules adopted by the Park Board to attend the meeting by video or audio conference: . No Park Commissioner was not permitted to attend the meeting by video or audio conference. The following Park Commissioners were absent and did not participate in the meeting in any manner or to any extent whatsoever: The President announced that the next item for consideration was the sale of the District’s non-referendum General Obligation Limited Park Bonds, Series 2026, to be issued by the District pursuant to Section 6-4 of the Park District Code, in one or more series, on a taxable or tax-exempt basis, and that the Park Board would consider the adoption of an ordinance providing for the issue of said bonds and the levy of a direct annual tax to pay the principal and interest thereon. Whereupon the Secretary presented and read by title an ordinance as follows, a copy of which was provided to each member of the Park Board prior to said meeting and to everyone in attendance at said meeting who requested a copy: 71 ===== PDF PAGE 72 ===== 51703805.4/163024.00004 ORDINANCE NO. ________ AN ORDINANCE providing for the issuance of General Obligation Limited Park Bonds, Series 2026, of the West Chicago Park District, DuPage County, Illinois, in one or more series, on a taxable or tax-exempt basis, for the purpose of refinancing certain outstanding indebtedness of the District, financing the costs of certain capital projects within the District, paying for costs related thereto, and for the levy of a direct annual tax to pay the principal and interest on said bonds. * * * WHEREAS, the West Chicago Park District, DuPage County, Illinois (the “District”), is a duly organized and existing park district created under the provisions of the laws of the State of Illinois (the “State”), and is now operating under the provisions of the Park District Code of the State, and all laws amendatory thereof and supplementary thereto (the “Park Code”), including the provisions of the Local Government Debt Reform Act of the State, as supplemented and amended (the “Debt Reform Act”); and WHEREAS, the District has issued and now has outstanding and unpaid General Obligation Park Bonds (Alternate Revenue Source), Series 2017 (the “Series 2017 Bonds”), General Obligation Park Bonds (Alternate Revenue Source), Series 2023 (the “Series 2023 Bonds”), and General Obligation Refunding Park Bonds (Alternate Revenue Source), Series 2024A (the “Series 2024A Bonds,” and, together with the Series 2017 Bonds and the Series 2023 Bonds, the “Outstanding Obligations”); and WHEREAS, the Outstanding Obligations are presently outstanding and unpaid and are binding and subsisting legal obligations of the District; and WHEREAS, the Board of Park Commissioners of the District (the “Board”) has determined that it is necessary and desirable to (i) refund a portion or all of the principal and interest due on 72 ===== PDF PAGE 73 ===== 51703805.4/163024.00004 - 2 - December 1, 2026, and the interest due on June 1, 2027, with respect to the Outstanding Obligations, (the “Refunding”), (ii) finance the payment of land condemned or purchased for parks, for the building, maintaining, improving, and protecting of the same and the existing facilities of the District (the “Project”), and (iii) pay certain costs related to the issuance of the Bonds (as hereinafter defined); and WHEREAS, pursuant to and in accordance with the provisions of the Bond Issue Notification Act of the State, as amended, the Board, on the 8th day of September, 2026, held a public hearing (the “Hearing”), concerning the intent of the Board to sell the Bonds; and WHEREAS, notice of the Hearing was given by (i) publication at least once not less than seven (7) nor more than thirty (30) days before the date of the Hearing in the Daily Herald, the same being a newspaper of general circulation in the District, and (ii) posting at least 48 hours before the Hearing a copy of said notice at the principal office of the Board; and WHEREAS, the Hearing was held on the 8th day of September, 2026, and at the Hearing, the Board explained the reasons for the proposed bond issue and permitted persons desiring to be heard an opportunity to present written or oral testimony within reasonable time limits; and WHEREAS, the Hearing was finally adjourned on the 8th day of September, 2026; and WHEREAS, the Board finds that it does not have sufficient funds on hand to finance the Refunding and the Project, and that the cost thereof, including legal, financial, bond discount, printing and publication costs, and other expenses, will not exceed $700,000, and that it is necessary and for the best interests of the District that it borrow a sum not to exceed $700,000 and issue bonds of the District to evidence the borrowing; and WHEREAS, the Board does hereby find and determine that (a) the Bonds shall be issued as limited bonds under the provisions of the Local Government Debt Reform Act of the State, as 73 ===== PDF PAGE 74 ===== 51703805.4/163024.00004 - 3 - amended (the “Debt Reform Act”), and (b) upon the issuance of General Obligation Limited Park Bonds, Series 2026, in one or more series, on a taxable or tax-exempt basis, in an aggregate amount not to exceed $700,000 now proposed to be issued, the aggregate outstanding unpaid bonded indebtedness of the District, including the Bonds, is not more than 0.575% of the total assessed valuation of all taxable property in the District as last equalized and determined, and pursuant to the provisions of the Debt Reform Act and Section 6-4 of the Park Code, it is not necessary to submit the proposition of issuing the Bonds to the voters of the District for approval; and WHEREAS, pursuant to the offering of the Bonds for private placement and the related Term Sheet (the “Term Sheet”) or Private Placement Memorandum (the “Private Placement Memorandum”), the District will determine to accept a bond purchase agreement for the Bonds (which when executed and delivered shall constitute a “Purchase Agreement”) submitted by the Purchaser (as herein defined): NOW, THEREFORE, Be It Ordained by the Board of Park Commissioners of the West Chicago Park District, DuPage 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. Authorization. It is hereby found and determined that the District has been authorized by law to borrow a sum not to exceed $700,000 upon the credit of the District and as evidence of such indebtedness to issue the Bonds of the District to said amount, the proceeds of the Bonds to be used for the Refunding and the Project, and it is necessary and for the best interests of the District that there be issued at this time not to exceed $700,000 of the Bonds so authorized. 74 ===== PDF PAGE 75 ===== 51703805.4/163024.00004 - 4 - Section 3. Bond Details. There be borrowed on the credit of and for and on behalf of the District a sum not to exceed $700,000 for the purposes aforesaid; and that the Bonds of the District shall be issued, in one or more series, on a taxable or tax-exempt basis, to said amount and shall be designated as “General Obligation Limited Park Bonds, Series 2026” (the “Bonds”), or such other series designations as may be set forth in an order (the “Bond Order”) to authenticate the Bonds; and that each Bond shall be dated as of or before the date or dates of the issuance and sale thereof and acceptable to the Purchaser. Subject to the Bond Order, the Bonds shall also bear the date of authentication, shall be in fully registered form, shall be in minimum denominations of $100,000 and authorized integral multiples of $1,000 thereof (but no single Bond shall represent installments of principal maturing on more than one date), shall be numbered 1 and upward, and shall become due (subject to prior redemption as set forth in the Bond Order) on December 15 over a period ending not later than December 15, 2028, and in an amount not exceeding $700,000 per year, all as set forth in a Bond Order; provided, however, that no Bond shall bear interest at a rate per annum in excess of 6.00%. The President of the Board, the Executive Director of the District, and Superintendent of Finance (the “Designated Representatives”) are hereby authorized to execute and deliver Bond Order(s) for and on behalf of the District as herein provided. The Bond Order(s) shall be made a part of the transcript of the proceedings related to the issuance of the Bonds. The Bonds shall bear interest from their date or from the most recent interest payment date to which interest has been paid or duly provided for, until the principal amount of the Bonds is paid, such interest (computed upon the basis of a 360-day year of twelve 30-day months) being payable on June 15 and December 15, commencing on the date set forth in the Bond Order. Interest on each Bond shall be paid by check or draft of the person or entity to be set forth in the Bond 75 ===== PDF PAGE 76 ===== 51703805.4/163024.00004 - 5 - Order, as bond registrar and paying agent (the “Bond Registrar”), payable upon presentation in lawful money of the United States of America (the “United States”), to the person in whose name such Bond is registered at the close of business on the 1st day (whether or not a business day) of the calendar month of the interest payment date. The principal of the Bonds shall be payable in lawful money of the United States at the office maintained for such purpose by the Bond Registrar. The Bonds shall be signed by the manual or facsimile signatures of the President and Secretary of the Board, and shall be countersigned by the manual or facsimile signature of the Treasurer of the Board, and the seal of the District shall be affixed thereto or printed thereon, and in case any officer whose signature shall appear on any Bond shall cease to be such officer before the delivery of such Bond, such signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until delivery. All Bonds shall have thereon a certificate of authentication substantially in the form hereinafter set forth duly executed by the Bond Registrar as authenticating agent of the District and showing the date of authentication. No Bond shall 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 Bond Registrar by manual signature, and such certificate of authentication upon any such Bond shall be conclusive evidence that such Bond has been authenticated and delivered under this Ordinance. The certificate of authentication on any Bond shall be deemed to have been executed by the Bond Registrar if signed by an authorized officer of the Bond Registrar, but it shall not be necessary that the same officer sign the certificate of authentication on all of the Bonds issued hereunder. Section 4. Registration of Bonds; Persons Treated as Owners. (a) General. The District shall cause books (the “Bond Register”) for the registration and for the transfer of the 76 ===== PDF PAGE 77 ===== 51703805.4/163024.00004 - 6 - Bonds as provided in this Ordinance to be kept at the office maintained for such purpose by the Bond Registrar, which is hereby constituted and appointed the registrar of the District. The District is authorized to prepare, and the Bond Registrar shall keep custody of, multiple Bond blanks executed by the District for use in the transfer and exchange of Bonds. Upon surrender for transfer of any Bond at the office maintained for such purpose by the Bond Registrar, duly endorsed by, or accompanied by a written instrument or instruments of transfer in form satisfactory to the Bond Registrar and duly executed by, the registered owner or his attorney duly authorized in writing, the District shall execute and the Bond Registrar shall authenticate, date and deliver in the name of the transferee or transferees a new fully registered Bond or Bonds of the same maturity of authorized denominations, for a like aggregate principal amount. Any fully registered Bond or Bonds may be exchanged at said office of the Bond Registrar for a like aggregate principal amount of Bond or Bonds of the same maturity of other authorized denominations. The execution by the District of any fully registered Bond shall constitute full and due authorization of such Bond and the Bond Registrar shall thereby be authorized to authenticate, date, and deliver such Bond, provided, however, the principal amount of outstanding Bonds of each maturity authenticated by the Bond Registrar shall not exceed the authorized principal amount of Bonds for such maturity less previous retirements. The Bond Registrar shall not be required to transfer or exchange any Bond during the period beginning at the close of business on the 1st day (whether or not a business day) of the calendar month of any interest payment date on such Bond and ending at the opening of business on such interest payment date, nor to transfer or exchange any Bond after notice calling such Bond for redemption has been mailed, nor during a period of fifteen (15) days next preceding mailing of a notice of redemption of any Bonds. 77 ===== PDF PAGE 78 ===== 51703805.4/163024.00004 - 7 - The person in whose name any Bond 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 any Bond shall be made only to or upon the order of the registered owner thereof or his legal representative. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid. No service charge shall be made for any transfer or exchange of Bonds, but the District or the Bond 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 Bonds, except in the case of the issuance of a Bond or Bonds for the unredeemed portion of a Bond surrendered for redemption. (b) Global Book-Entry System. The Bonds may be initially issued in the form of a separate single fully registered Bond for each of the maturities of the Bonds determined as described in Section 3 hereof. Upon initial issuance, the ownership of each such Bond shall be registered in the Bond Register in the name of Cede & Co., or any successor thereto (“Cede”), as nominee of The Depository Trust Company, New York, New York, and its successors and assigns (“DTC”). All of the outstanding Bonds shall be registered in the Bond Register in the name of Cede, as nominee of DTC, except as hereinafter provided. The President and Secretary of the Board, the chief administrative and executive officer and chief financial officer of the District and the Bond Registrar are each authorized to execute and deliver, on behalf of the District, such letters to or agreements with DTC as shall be necessary to effectuate such book-entry system (any such letter or agreement being referred to herein as the “Representation Letter”), which Representation Letter may provide for the payment of principal of or interest on the Bonds by wire transfer. 78 ===== PDF PAGE 79 ===== 51703805.4/163024.00004 - 8 - With respect to Bonds registered in the Bond Register in the name of Cede, as nominee of DTC, the District and the Bond Registrar shall have no responsibility or obligation to any broker-dealer, bank or other financial institution for which DTC holds Bonds from time to time as securities depository (each such broker-dealer, bank or other financial institution being referred to herein as a “DTC Participant”) or to any person on behalf of whom such a DTC Participant holds an interest in the Bonds. Without limiting the immediately preceding sentence, the District and the Bond Registrar shall have no responsibility or obligation with respect to (i) the accuracy of the records of DTC, Cede or any DTC Participant with respect to any ownership interest in the Bonds, (ii) the delivery to any DTC Participant or any other person, other than a registered owner of a Bond as shown in the Bond Register, of any notice with respect to the Bonds, including any notice of redemption, or (iii) the payment to any DTC Participant or any other person, other than a registered owner of a Bond as shown in the Bond Register, of any amount with respect to the principal of or interest on the Bonds. The District and the Bond Registrar may treat and consider the person in whose name each Bond is registered in the Bond Register as the holder and absolute owner of such Bond for the purpose of payment of principal and interest with respect to such Bond, for the purpose of giving notices of redemption and other matters with respect to such Bond, for the purpose of registering transfers with respect to such Bond, and for all other purposes whatsoever. The Bond Registrar shall pay all principal of and interest on the Bonds only to or upon the order of the respective registered owners of the Bonds, as shown in the Bond Register, or their respective attorneys duly authorized in writing, and all such payments shall be valid and effective to fully satisfy and discharge the District’s obligations with respect to payment of the principal of and interest on the Bonds to the extent of the sum or sums so paid. No person other than a registered owner of a Bond as shown in the Bond Register, shall receive a Bond evidencing 79 ===== PDF PAGE 80 ===== 51703805.4/163024.00004 - 9 - the obligation of the District to make payments of principal and interest with respect to any Bond. Upon delivery by DTC to the Bond Registrar of written notice to the effect that DTC has determined to substitute a new nominee in place of Cede, and subject to the provisions in Section 3 hereof with respect to the payment of interest to the registered owners of Bonds at the close of business on the 1st day (whether or not a business day) of the calendar month of the applicable interest payment date, the name “Cede” in this Ordinance shall refer to such new nominee of DTC. In the event that (i) the District determines that DTC is incapable of discharging its responsibilities described herein and in the Representation Letter, (ii) the agreement among the District, the Bond Registrar and DTC evidenced by the Representation Letter shall be terminated for any reason or (iii) the District determines that it is in the best interests of the beneficial owners of the Bonds that they be able to obtain certificated Bonds, the District shall notify DTC and DTC Participants of the availability through DTC of certificated Bonds and the Bonds shall no longer be restricted to being registered in the Bond Register in the name of Cede, as nominee of DTC. At that time, the District may determine that the Bonds shall be registered in the name of and deposited with such other depository operating a universal book-entry system, as may be acceptable to the District, or such depository’s agent or designee, and if the District does not select such alternate universal book-entry system, then the Bonds may be registered in whatever name or names registered owners of Bonds transferring or exchanging Bonds shall designate, in accordance with the provisions of Section 4(a) hereof. Notwithstanding any other provisions of this Ordinance to the contrary, so long as any Bond is registered in the name of Cede, as nominee of DTC, all payments with respect to principal of and interest on such Bond and all notices with respect to such Bond shall be made and given, respectively, in the name provided in the Representation Letter. 80 ===== PDF PAGE 81 ===== 51703805.4/163024.00004 - 10 - Section 5. Redemption. (a) Optional Redemption. Bonds due on and after the date, if any, specified in the Bond Order, shall be subject to redemption prior to maturity at the option of the District from any available funds, as a whole or in part, and if in part in integral multiples of $5,000 in any order of their maturity as determined by the District (less than all of the Bonds of a single maturity to be selected by the Bond Registrar), on the date specified in the Bond Order, and on any date thereafter, at the redemption price of par plus accrued interest to the date fixed for redemption, as provided in the Bond Order. (b) Mandatory Redemption. The Bonds maturing on the date or dates, if any, indicated in the Bond Order are subject to mandatory redemption, in integral multiples of $5,000 selected by lot by the Bond Registrar, at a redemption price of par plus accrued interest to the redemption date on December 15 of the years, if any, and in the principal amounts, if any, as indicated in the Bond Order. The principal amounts of Bonds to be mandatory redeemed in each year may be reduced through the earlier optional redemption thereof, with any partial optional redemptions of such Bonds credited against future mandatory redemption requirements in such order of the mandatory redemption dates as the District may determine. In addition, on or prior to the 60th day preceding any mandatory redemption date, the Bond Registrar may, and if directed by the Board shall, purchase Bonds required to be retired on such mandatory redemption date. Any such Bonds so purchased shall be cancelled and the principal amount thereof shall be credited against the mandatory redemption required on such next mandatory redemption date. (c) General. The Bonds shall be redeemed only in the principal amount of $5,000 and integral multiples thereof. The District shall, at least forty-five (45) days prior to any optional redemption date (unless a shorter time period shall be satisfactory to the Bond Registrar) notify 81 ===== PDF PAGE 82 ===== 51703805.4/163024.00004 - 11 - the Bond Registrar of such redemption date and of the principal amount and maturity or maturities of Bonds to be redeemed. For purposes of any redemption of less than all of the outstanding Bonds of a single maturity, the particular Bonds or portions of Bonds to be redeemed shall be selected by lot by the Bond Registrar from the Bonds of such maturity by such method of lottery as the Bond Registrar shall deem fair and appropriate; provided that such lottery shall provide for the selection for redemption of Bonds or portions thereof so that any $5,000 Bond or $5,000 portion of a Bond shall be as likely to be called for redemption as any other such $5,000 Bond or $5,000 portion. The Bond Registrar shall make such selection upon the earlier of the irrevocable deposit of funds with an escrow agent sufficient to pay the redemption price of the Bonds to be redeemed or the time of the giving of official notice of redemption. The Bond Registrar shall promptly notify the District in writing of the Bonds or portions of Bonds selected for redemption and, in the case of any Bond selected for partial redemption, the principal amount thereof to be redeemed. Section 6. Redemption Procedure. Unless waived by any holder of Bonds (“Bondholder” or “Bondholders,” as applicable) to be redeemed, notice of the call for any such redemption shall be given by the Bond Registrar on behalf of the District by mailing the redemption notice by first class mail at least thirty (30) days and not more than sixty (60) days prior to the date fixed for redemption to the registered owner of the Bond or Bonds to be redeemed at the address shown on the Bond Register or at such other address as is furnished in writing by such registered owner to the Bond Registrar. All notices of redemption shall state: (a) the redemption date, (b) the redemption price, 82 ===== PDF PAGE 83 ===== 51703805.4/163024.00004 - 12 - (c) if less than all outstanding Bonds are to be redeemed, the identification (and, in the case of partial redemption, the respective principal amounts) of the Bonds to be redeemed, (d) that on the redemption date the redemption price will become due and payable upon each such Bond or portion thereof called for redemption, and that interest thereon shall cease to accrue from and after said date, (e) the place where such Bonds are to be surrendered for payment of the redemption price, which place of payment shall be the office maintained for such purpose by the Bond Registrar, and (f) such other information then required by custom, practice or industry standard. Unless moneys sufficient to pay the redemption price of the Bonds to be redeemed at the option of the District shall have been received by the Bond Registrar prior to the giving of such notice of redemption, such notice may, at the option of the District, state that said redemption shall be conditional upon the receipt of such moneys by the Bond Registrar on or prior to the date fixed for redemption. If such moneys are not received, such notice shall be of no force and effect, the District shall not redeem such Bonds, and the Bond Registrar shall give notice, in the same manner in which the notice of redemption shall have been given, that such moneys were not so received and that such Bonds will not be redeemed. Otherwise, prior to any redemption date, the District shall deposit with the Bond Registrar an amount of money sufficient to pay the redemption price of all the Bonds or portions of Bonds which are to be redeemed on that date. Subject to the provisions for a conditional redemption described above, notice of redemption having been given as aforesaid, the Bonds or portions of Bonds 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 District shall default in the payment of the redemption price) such Bonds or portions of Bonds shall cease to bear interest. Upon surrender of such Bonds 83 ===== PDF PAGE 84 ===== 51703805.4/163024.00004 - 13 - for redemption in accordance with said notice, such Bonds shall be paid by the Bond 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 any Bond, there shall be prepared for the registered holder a new Bond or Bonds of the same maturity in the amount of the unpaid principal. If any Bond or portion of Bond called for redemption shall not be so paid upon surrender thereof for redemption, the principal shall, until paid, bear interest from the redemption date at the rate borne by the Bond or portion of Bond so called for redemption. All Bonds which have been redeemed shall be cancelled and destroyed by the Bond Registrar and shall not be reissued. Section 7. Form of Bond. The Bonds shall be in substantially the following form: 84 ===== PDF PAGE 85 ===== 51703805.4/163024.00004 - 14 - REGISTERED REGISTERED No. R-__ $________ UNITED STATES OF AMERICA STATE OF ILLINOIS COUNTY OF DUPAGE WEST CHICAGO PARK DISTRICT [TAXABLE] GENERAL OBLIGATION LIMITED PARK BOND, SERIES 2026[A][B] Interest Maturity Dated Rate: _____ % Date: December 15, 20__ Date: _______, 2026 [CUSIP __ ] Registered Owner: [CEDE & CO.] Principal Amount: __________________________ Dollars [1] KNOW ALL PERSONS BY THESE PRESENTS, that the West Chicago Park District, DuPage County, Illinois (the “District”), hereby acknowledges itself to owe and for value received promises to pay to the Registered Owner identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest (computed on the basis of a 360-day year of twelve 30-day months) on such Principal Amount from the date of this Bond or from the most recent interest payment date to which interest has been paid at the Interest Rate per annum set forth above on June 15 and December 15 of each year, commencing ________, 20__, until said Principal Amount is paid. Principal of this Bond is payable in lawful money of the United States of America (the “United States”) upon presentation and surrender hereof at the office maintained for such purpose by ________________, _______, _________, as bond registrar and paying agent (the “Bond Registrar”). Payment of the installments of interest shall be made to the Registered Owner hereof as shown on the registration books of the District maintained by the Bond Registrar at the close of business on the 1st day (whether or not a business day) of the calendar month of each interest payment date and shall be paid by check or draft of the Bond Registrar, payable upon presentation in lawful money of the United States, mailed to the address of such Registered Owner as it appears on such registration books or at such other address furnished in writing by such Registered Owner to the Bond Registrar. [2] This Bond is issued by the District for the purpose of [(a) refunding certain outstanding obligations of the District, (b)] financing the payment of land condemned or purchased for parks, for the building, maintaining, improving, and protecting of the same and the existing facilities of the District, and (c) paying the expenses incident thereto, pursuant to and in all respects in full compliance with the provisions of the Park District Code of the State of Illinois (the “State”), the Park District Refunding Bond Act of the State, the Local Government Debt Reform Act of the State (the “Debt Reform Act”), and all laws amendatory thereof and supplementary thereto, and is authorized by the Board of Park Commissioners of the District by an ordinance duly and properly adopted for that purpose, in all respects as provided by law. 85 ===== PDF PAGE 86 ===== 51703805.4/163024.00004 - 15 - [3] [Optional and mandatory redemption provisions, if applicable.] [4] This Bond is transferable by the Registered Owner hereof in person or by his attorney duly authorized in writing at the office maintained for such purpose by the Bond Registrar in _______, _________, but only in the manner, subject to the limitations and upon payment of the charges provided in the authorizing ordinance, and upon surrender and cancellation of this Bond. Upon such transfer a new Bond or Bonds of authorized denominations of the same maturity and for the same aggregate principal amount will be issued to the transferee in exchange therefor. [5] [The District hereby designates this Bond as a qualified tax-exempt obligation to qualify this Bond for the $10,000,000 exception from the provisions of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended to this date, relating to the disallowance of 100% of the deduction for interest expense allocable to tax-exempt obligations.] [6] The Bonds are issued in fully registered form in minimum denominations of $100,000 and authorized integral multiples of $1,000 thereof. This Bond may be exchanged at the office maintained for such purpose by the Bond Registrar for a like aggregate principal amount of Bonds of the same maturity of other authorized denominations, upon the terms set forth in the authorizing ordinance. The Bond Registrar shall not be required to transfer or exchange any Bond during the period beginning at the close of business fifteen (15) days prior and ending at the opening of business on maturity. [7] The District and the Bond 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 District nor the Bond Registrar shall be affected by any notice to the contrary. [8] It is hereby certified and recited that all conditions, acts and things required by law to exist or to be done precedent to and in the issuance of this Bond did exist, have happened, been done and performed in regular and due form and time as required by law; that the indebtedness of the District, including the issue of bonds of which this is one, does not exceed any limitation imposed by law; and that provision has been made for the collection of a direct annual tax to pay the interest hereon as it falls due and also to pay and discharge the principal hereof at maturity. Although this Bond constitutes a general obligation of the District and no limit exists on the rate of said direct annual tax, the amount of said tax is limited by the provisions of the Property Tax Extension Limitation Law of the State, as amended (the “Law”). The Law provides that the annual amount of the taxes to be extended to pay the issue of Bonds of which this Bond is one and all other limited bonds (as defined in the Debt Reform Act) heretofore and hereafter issued by the District shall not exceed the debt service extension base (as defined in the Law) of the District (the “Base”), as more fully described in the proceedings of the District providing for the issue of this Bond. The District is authorized to issue from time-to-time additional limited bonds payable from the Base, as permitted by law, and to determine the lien priority of payments to be made from the Base to pay the District’s limited bonds. [9] This Bond shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed by the Bond Registrar. 86 ===== PDF PAGE 87 ===== 51703805.4/163024.00004 - 16 - [10] IN WITNESS WHEREOF, said West Chicago Park District, DuPage County, Illinois, by its Board of Park Commissioners, has caused this Bond to be signed by the manual or duly authorized facsimile signatures of the President and Secretary of said Board of Park Commissioners, and to be countersigned by the manual or duly authorized facsimile signature of the Treasurer thereof, and has caused the seal of the District to be affixed hereto or printed hereon, all as of the Dated Date identified above. (Facsimile Signature) President, Board of Park Commissioners (SEAL) (Facsimile Signature) Secretary, Board of Park Commissioners Countersigned: (Facsimile Signature) Treasurer, Board of Park Commissioners Date of Authentication: ____________, 2026 CERTIFICATE OF AUTHENTICATION This Bond is described in the within mentioned ordinance and is the [Taxable] General Obligation Limited Park Bonds, Series 2026[A][B], of the West Chicago Park District, DuPage County, Illinois. ________________, By (Manual Signature) Bond Registrar, Authorized Officer Bond Registrar and Paying Agent: ________________, _______, _________ 87 ===== PDF PAGE 88 ===== 51703805.4/163024.00004 - 17 - (ASSIGNMENT) FOR VALUE RECEIVED, the undersigned sells, assigns and transfers unto (Name and Address of Assignee) the within Bond and does hereby irrevocably constitute and appoint attorney to transfer the said Bond 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. Section 8. Sale of Bonds. The Designated Representatives are hereby authorized to proceed, without any further authorization or direction from the Board, to sell and deliver the Bonds upon the terms as prescribed in this Ordinance. The Bonds hereby authorized shall be executed as in this Ordinance provided as soon after the delivery of the Bond Order as may be, and thereupon be deposited with the Treasurer of the Board and, after authentication thereof by the Bond Registrar, be by said Treasurer delivered to the purchaser thereof set forth in the Bond Order (the “Purchaser”), as selected by Stifel, Nicolaus & Company, Incorporated, as placement agent, and upon receipt of the purchase price therefor, the same being set forth in the Bond Order; said purchase price being not less than 98% of the principal amount of the Bonds plus any accrued interest to date of delivery, the Purchase Agreement is in all respects ratified, approved and confirmed, it being hereby found and determined that the Bonds have been sold at such price and bear interest at such rates that neither the true interest cost (yield) nor the net interest rate received 88 ===== PDF PAGE 89 ===== 51703805.4/163024.00004 - 18 - upon such sale exceed the maximum rate otherwise authorized by Illinois law and that the Purchase Agreement is in the best interests of the District and that no person holding any office of the District, 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 Purchase Agreement. Upon the sale of the Bonds, the Designated Representatives shall prepare a Bond Order, which shall include the pertinent details of sale as provided herein. In the Bond Order, the Designated Representatives shall find and determine that the Bonds have been sold at such price and bear interest at such rates that either the true interest cost (yield) or the net interest rate received upon the sale of the Bonds does not exceed the maximum rate otherwise authorized by applicable law. The Bond Order shall be entered into the records of the District and made available to the Board at the next regular meeting thereof; but such action shall be for information purposes only, and the Board shall have no right or authority at such time to approve or reject such sale as evidenced in the Bond Order. Upon the sale of the Bonds, as evidenced by the execution and delivery of the Bond Order by the Designated Representatives, the President, Secretary and Treasurer of the Board and the Executive Director of the District and any other officers of the District, as shall be appropriate, shall be and are hereby authorized and directed to approve or execute, or both, such documents of sale of the Bonds as may be necessary, including, without limitation, the Purchase Agreement. Prior to the execution and delivery of the Purchase Agreement, the Designated Representatives shall find and determine that no person holding any office of the District 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 Purchase Agreement. 89 ===== PDF PAGE 90 ===== 51703805.4/163024.00004 - 19 - The Bonds before being issued shall be registered, numbered, and countersigned by the Treasurer of the Board, such registration being made in a book provided for that purpose, in which shall be entered the record of the ordinance authorizing the Board to borrow said money and a description of the Bonds issued, including the number, date, to whom issued, amount, rate of interest and when due. The use by the Purchaser of any Term Sheet, Private Placement Memorandum or any final Official Statement relating to the Bonds is hereby ratified, approved and authorized; the execution and delivery of the Official Statement is hereby authorized; and the officers of the Board are hereby authorized to take any action as may be required on the part of the District to consummate the transactions contemplated by the Purchase Agreement, this Ordinance, said Term Sheet, Private Placement Memorandum or Official Statement, and the Bonds. Section 9. Tax Levy. In order to provide for the collection of a direct annual tax to pay the interest on the Bonds as it falls due, and also to pay and discharge the principal thereof at maturity, there be and there is hereby levied upon all the taxable property within the District a direct annual tax for each of the years while the Bonds or any of them are outstanding (the “Pledged Taxes”), and that there be and there are hereby levied in each of the years commencing not before 2026 and ending not later than 2027 the Pledged Taxes in the maximum amount of $705,000, the exact amounts to be set forth in the Bond Order(s). Principal or interest maturing at any time when there are not sufficient funds on hand from the Pledged Taxes to pay the same shall be paid from the general funds of the District, and the fund from which such payment was made shall be reimbursed out of the Pledged Taxes when the same shall be collected. 90 ===== PDF PAGE 91 ===== 51703805.4/163024.00004 - 20 - The District covenants and agrees with the purchasers and the holders of the Bonds that so long as any of the Bonds remain outstanding, the District will take no action or fail to take any action which in any way would adversely affect the ability of the District to levy and collect the Pledged Taxes and the District and its officers will comply with all present and future applicable laws in order to assure that the Pledged Taxes will be levied, extended and collected as provided herein and deposited in the fund established to pay the principal of and interest on the Bonds. Section 10. Filing of Ordinance. Forthwith upon the passage of this Ordinance, the Secretary of the Board is hereby directed to file a certified copy of this Ordinance with the County Clerk of The County of DuPage, Illinois (the “County Clerk”), and it shall be the duty of the County Clerk in and for the year or years set forth in the Bond Order to ascertain the rate necessary to produce the tax herein levied, and extend the same for collection on the tax books against all of the taxable property within the District in connection with other taxes levied in said year or years for general park purposes, in order to raise the amount or amounts aforesaid and in said year or years such annual tax shall be computed, extended and collected in the same manner as now or hereafter provided by law for the computation, extension and collection of taxes for general park purposes of the District, and when collected, the taxes hereby levied shall be placed to the credit of a special fund to be designated “Park Bond and Interest Fund of 2026” (the “Bond Fund”), which fund is hereby irrevocably pledged to and shall be used only for the purpose of paying the principal of and interest on the Bonds. Section 11. Limitation on Extension; General Obligation Pledge; Additional Obligations. Notwithstanding any other provision of this Ordinance, the annual amount of the taxes to be extended by the County Clerk to pay the Bonds and all other limited bonds (as defined in the Debt Reform Act) heretofore and hereafter issued by the District shall not exceed the debt 91 ===== PDF PAGE 92 ===== 51703805.4/163024.00004 - 21 - service extension base (as defined in the Property Tax Extension Limitation Law of the State, as amended) of the District (the “Base”). No limit, however, exists on the rate of the direct annual tax levied herein, and the Bonds shall constitute a general obligation of the District. The District currently has outstanding General Obligation Limited Park Bonds, Series 2021A, General Obligation Limited Park Bonds, Series 2023A, General Obligation Limited Park Bonds, Series 2024B, Taxable General Obligation Limited Park Bonds, Series 2024C, and General Obligation Limited Park Bonds, Series 2025. The District is authorized to issue from time-to-time additional limited bonds payable from the Base, as permitted by law, and to determine the lien priority of payments to be made from the Base to pay the District’s limited bonds. Section 12. Project Fund. There is hereby created and established a special fund of the District known as the “Project Fund, Series 2026” (the “Project Fund”) to be held by the Treasurer. The Project Fund shall be used for the purpose of paying for the costs of the Project. In the event that any moneys remain in the Project Fund upon completion of the Project, the District shall deposit the remaining moneys in the Project Fund in the Bond Fund and shall cause such moneys to be used to pay the interest on the Bonds on the earliest possible date. Such moneys which are on deposit in the Bond Fund after 30 days of the date of deposit shall be invested at a yield not exceeding the yield on the Bonds. Section 13. Use of Bond Proceeds. Any accrued interest received on the delivery of the Bonds is hereby appropriated for the purpose of paying first interest due on the Bonds and is hereby ordered deposited into the Bond Fund. Principal proceeds of the Bonds and any premium received on the delivery of the Bonds, in an amount to be set forth in a Bond Order, shall be used to pay the Outstanding Obligations when due. Principal proceeds of the Bonds, in an amount to be set forth 92 ===== PDF PAGE 93 ===== 51703805.4/163024.00004 - 22 - in a Bond Order, shall be deposited into the Project Fund and shall be used to pay for the Project. The balance of the proceeds of the Bonds shall be used to pay the costs of issuance of the Bonds. Section 14. Non-Arbitrage and Tax-Exemption. This Section shall apply to any Bonds issued on a tax-exempt basis. One purpose of this Section is to set forth various facts regarding the Bonds and to establish the expectations of the Board and the District as to future events regarding the Bonds and the use of Bond proceeds. The certifications, covenants, and representations contained herein and at the time of the funding of the Bonds are made on behalf of the District for the benefit of the owners from time to time of the Bonds. In addition to providing the certifications, covenants and representations contained herein, the District 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 Bonds) if taking, permitting or omitting to take such action would cause any of the Bonds to be an arbitrage bond or a private activity bond within the meaning of the hereinafter defined Code or would otherwise cause the interest on the Bonds to be included in the gross income of the recipients thereof for federal income tax purposes. The District acknowledges that, in the event of an examination by the Internal Revenue Service of the exemption from federal income taxation for interest paid on the Bonds, under present rules, the District may be treated as a “taxpayer” in such examination and agrees that it will respond in a commercially reasonable manner to any inquiries from the Internal Revenue Service in connection with such an examination. The Board hereby authorizes the officials of the District responsible for issuing the Bonds, the same being the President, Secretary and Treasurer of the Board, to make such further covenants and certifications as may be necessary to assure that the use thereof will not cause the Bonds to be 93 ===== PDF PAGE 94 ===== 51703805.4/163024.00004 - 23 - arbitrage bonds and to assure that the interest on the Bonds will be exempt from federal income taxation. In connection therewith, the District and the Board further agree: (a) through their officers, to make such further specific covenants, representations as shall be truthful, and assurances as may be necessary or advisable; (b) to consult with counsel approving the Bonds and to comply with such advice as may be given; (c) to pay to the United States, as necessary, such sums of money representing required rebates of excess arbitrage profits relating to the Bonds; (d) to file such forms, statements, and supporting documents as may be required and in a timely manner; and (e) if deemed necessary or advisable by their officers, to employ and pay fiscal agents, financial advisors, attorneys, and other persons to assist the District in such compliance. Section 15. Bank Qualified Representations. This Section shall apply to any Bonds issued on a tax-exempt basis. The District represents: (a) The Bonds are not private activity bonds as defined in Section 141 of the Code; and (b) The District is authorized to designate the Bonds as qualified obligations for purposes of Section 265(b) of the Code pursuant to the Bond Order provided that for the year 2026 the reasonably anticipated amount of qualified obligations (including 501(c)(3) obligations and leases but excluding other private activity bonds) which will be issued by the District and all entities subordinate to the District during such year does not exceed $10,000,000. Section 16. List of Bondholders. The Bond Registrar shall maintain a list of the names and addresses of the Bondholders and upon any transfer shall add the name and address of the new Bondholder and eliminate the name and address of the transferor Bondholder. Section 17. Duties of Bond Registrar. If requested by the Bond Registrar, the President and Secretary of the Board are authorized to execute the Bond Registrar’s standard form of 94 ===== PDF PAGE 95 ===== 51703805.4/163024.00004 - 24 - agreement between the District and the Bond Registrar with respect to the obligations and duties of the Bond Registrar hereunder which may include the following: (a) to act as bond registrar, authenticating agent, paying agent and transfer agent as provided herein; (b) to maintain a list of Bondholders as set forth herein and to furnish such list to the District upon request, but otherwise to keep such list confidential; (c) to cancel and/or destroy Bonds which have been paid at maturity or submitted for exchange or transfer; (d) to furnish the District at least annually a certificate with respect to Bonds cancelled and/or destroyed; and (e) to furnish the District at least annually an audit confirmation of Bonds paid, Bonds outstanding and payments made with respect to interest on the Bonds. Section 18. Municipal Bond Insurance. In the event the payment of principal and interest on the Bonds is insured pursuant to a municipal bond insurance policy (the “Municipal Bond Insurance Policy”) issued by a bond insurer (the “Bond Insurer”), and as long as such Municipal Bond Insurance Policy shall be in full force and effect, the District and the Bond Registrar agree to comply with such usual and reasonable provisions regarding presentment and payment of the Bonds, subrogation of the rights of the Bondholders to the Bond Insurer upon payment of the Bonds by the Bond Insurer, amendment hereof, or other terms, as approved by the Board on advice of counsel, their approval to constitute full and complete acceptance by the District of such terms and provisions under authority of this Section. Section 19. 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 95 ===== PDF PAGE 96 ===== 51703805.4/163024.00004 - 25 - unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this Ordinance. Section 20. Repeal. All 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. 96 ===== PDF PAGE 97 ===== 51703805.4/163024.00004 Adopted October 13, 2026. President, Board of Park Commissioners Attest Secretary, Board of Park Commissioners 97 ===== PDF PAGE 98 ===== 51703805.4/163024.00004 Park Commissioner _______________ moved and Park Commissioner _______________ seconded the motion that said ordinance as presented and read by title by the Secretary be adopted. After a full discussion thereof, the President directed that the roll be called for a vote upon the motion to adopt said ordinance as read by title. Upon the roll being called, the following Park Commissioners voted AYE: The following Park Commissioners voted NAY: Whereupon the President 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 Board of Park Commissioners of the West Chicago Park District, DuPage 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. Secretary, Board of Park Commissioners 98 ===== PDF PAGE 99 ===== 51703805.4/163024.00004 STATE OF ILLINOIS ) ) SS COUNTY OF DUPAGE ) CERTIFICATION OF MINUTES AND ORDINANCE I, the undersigned, do hereby certify that I am the duly qualified and acting Secretary of the Board of Park Commissioners of the West Chicago Park District, DuPage County, Illinois (the “Board”), and as such official am the keeper of the records and files of the Board. I further certify that the foregoing is a full, true, and complete transcript of that portion of the minutes of the meeting of the Board held on the 13th day of October, 2026, insofar as the same relates to the adoption of Ordinance No. ________ entitled: AN ORDINANCE providing for the issuance of General Obligation Limited Park Bonds, Series 2026, of the West Chicago Park District, DuPage County, Illinois, in one or more series, on a taxable or tax-exempt basis, for the purpose of refinancing certain outstanding indebtedness of the District, financing the costs of certain capital projects within the District, paying for costs related thereto, and for the levy of a direct annual tax to pay the principal and interest on said bonds. 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 Board 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 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 Board at least 48 hours in advance of the holding of said meeting, that 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 Park District Code of the State of Illinois, as amended, and that the Board has complied with all of the provisions of said Act and said Code and with all of the procedural rules of the Board. IN WITNESS WHEREOF, I hereunto affix my official signature and seal of said Park District, this 13th day of October, 2026. Secretary, Board of Park Commissioners 99 ===== PDF PAGE 100 ===== 51703805.4/163024.00004 STATE OF ILLINOIS ) ) SS COUNTY OF DUPAGE ) FILING CERTIFICATE I, the undersigned, do hereby certify that I am the duly qualified and acting County Clerk of The County of DuPage, Illinois, and as such official I do further certify that on the ____ day of ________, 2026, there was filed in my office a duly certified copy of Ordinance No. ________ entitled: AN ORDINANCE providing for the issuance of General Obligation Limited Park Bonds, Series 2026, of the West Chicago Park District, DuPage County, Illinois, in one or more series, on a taxable or tax-exempt basis, for the purpose of refinancing certain outstanding indebtedness of the District, financing the costs of certain capital projects within the District, paying for costs related thereto, and for the levy of a direct annual tax to pay the principal and interest on said bonds. duly adopted by the Board of Park Commissioners of the West Chicago Park District, DuPage County, Illinois, on the 13th day of October, 2026, 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 and the seal of said County, this ____ day of ________, 2026. County Clerk of the County of DuPage, Illinois 100