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9/3/2026 <br />3 <br />Project Overview <br />The bond proceeds will be used to finance all or a <br />portion of the following improvements: <br />•Water Meter and Advanced Metering Infrastructure (AMI) <br />System Replacement <br />•City Groundwater Supply Project <br />•Water System Emergency Power Improvements <br />Program <br />•Annual Water Distribution System Improvements <br />•Any other improvements to the Water System approved <br />by the City Council <br />5 <br />Financing Plan <br />•New money bonds to be repaid over a 25-year period <br />•Interest rate not to exceed 5.5% <br />•Call provision allowing the City to redeem outstanding bonds prior to <br />scheduled maturity <br />•Bonds will be sold through a negotiable sale <br />•S&P Global Ratings assigned credit rating: AA with a stable outlook <br />6 <br />5 <br />6 <br />Page 284 of 318