NOTICE OF ADOPTION OF PRELIMINARY DETERMINATION NOTICE OF ADOPTION OF PRELIMINARY DETERMINATION Notice is hereby given that the Board of Parks and Recreation (the "Board"), being the governing body of the Lake County Park District (the "Park District") did, on June 11, 2026, make a preliminary determination to issue bonds to finance the costs of planning, construction, development and improvements of park facilities, and pay for the acquisition and development of land (collectively, the "Projects") of the Park District, including the incidental expenses necessary to be incurred in connection with said projects and the issuance of bonds on account thereof. The bonds will be for a maximum term of fifteen years with an estimated maximum annual debt service payment of $5,355,479. The maximum annual debt service payment has been estimated based upon an estimated principal amount of bonds of $30,000,000 and estimated interest rate of 4.00% and total interest costs of $7,050,000. The Park District's current debt service levy is $3,010,554 and the current debt service rate is $0.0086. After the Park District issues the proposed bonds, the debt service levy will increase by a maximum of $5,355,479 and the debt service rate will increase by a maximum of $0.0146. The purpose of the proposed bonds is to provide for the construction of the Projects. Any owners of real property within the Park District or registered voters within the Park District who want to initiate a petition and remonstrance process against the proposed bonds must file a petition that complies with INDIANA CODE 6-1.1-20-3.1 not later than 30 days after publication of this notice. The estimated amount of the Park District's debt service levy and rate will result during the following ten (10) years if the Park District issues the bonds, after also considering any changes that will occur to the debt service levy and rate during that period on account of any outstanding bonds or lease obligations that will mature or terminate during that period is set forth as follows: Pay Year Projected Debt Service Levy Projected Debt Service Tax Rate 2026 $3,010,554 $0.0086 2027 8,366,033 0.0232 2028 8,382,662 0.0226 2029 5,499,997 0.0144 2030 5,499,229 0.0140 2031 5,497,233 0.0135 2032 4,260,980 0.0102 2033 4,262,130 0.0099 2034 4,263,165 0.0096 2035 4,258,220 0.0093 2036 4,258,680 0.0091 The following information is being made available for informational purposes: Current Current Projected Debt NAV: $35,006,432,662 Debt Service Service Current Debt Service / NAV Projected Debt / NAV Schedule Service Schedule Date Amount Date Amount 2026 3,556,662 0.01% 2026 $3,010,554 0.01% 2027 3,572,244 0.01% 2027 8,366,033 0.02% 2028 3,579,271 0.01% 2028 8,382,662 0.02% 2029 1,078,606 0.00% 2029 5,499,997 0.02% 2030 1,078038 0.00% 2030 5,499,229 0.02% 2031 1,075,803 0.00% 2031 5,497,233 0.02% 2032 2032 4,260,908 0.01% 2033 2033 4,262,130 0.01% 2034 2034 4,263,165 0.01% 2035 2035 4,258,220 0.01% 2036 2036 4,258,680 0.01% Park District Outstanding Long Term Debt $13,120,000 Overlapping Taxing Unit Long Term Debt $43,728,234 Total Direct and Overlapping Debt $56,848,234 Net Assessed Value $35,006,432,662 Ratio of Total Overlapping Debt to NAV %0.16 Dated June 12, 2026 SECRETARY, BOARD OF PARKS AND CREATION LAKE COUNTY PARK DISTRICT June 12, 2026 86806
NOTICE OF ADOPTION OF PRELIMINARY DETERMINATION
Notice is hereby given that the Board of Parks and Recreation (the “Board”), being the governing body of the Lake County Park District (the “Park District”) did, on June 11, 2026, make a preliminary determination to issue bonds to finance the costs of planning, construction, development and improvements of park facilities, and pay for the acquisition and development of land (collectively, the “Projects”) of the Park District, including the incidental expenses necessary to be incurred in connection with said projects and the issuance of bonds on account thereof. The bonds will be for a maximum term of fifteen years with an estimated maximum annual debt service payment of $5,355,479. The maximum annual debt service payment has been estimated based upon an estimated principal amount of bonds of $30,000,000 and estimated interest rate of 4.00% and total interest costs of $7,050,000. The Park District’s current debt service levy is $3,010,554 and the current debt service rate is $0.0086. After the Park District issues the proposed bonds, the debt service levy will increase by a maximum of $5,355,479 and the debt service rate will increase by a maximum of $0.0146. The purpose of the proposed bonds is to provide for the construction of the Projects. Any owners of real property within the Park District or registered voters within the Park District who want to initiate a petition and remonstrance process against the proposed bonds must file a petition that complies with INDIANA CODE 6-1.1-20-3.1 not later than 30 days after publication of this notice.
The estimated amount of the Park District’s debt service levy and rate will result during the following ten (10) years if the Park District issues the bonds, after also considering any changes that will occur to the debt service levy and rate during that period on account of any outstanding bonds or lease obligations that will mature or terminate during that period is set forth as follows:
Pay Year Projected Debt Service Levy Projected Debt Service Tax Rate
2026 $3,010,554 $0.0086
2027 8,366,033 0.0232
2028 8,382,662 0.0226
2029 5,499,997 0.0144
2030 5,499,229 0.0140
2031 5,497,233 0.0135
2032 4,260,980 0.0102
2033 4,262,130 0.0099
2034 4,263,165 0.0096
2035 4,258,220 0.0093
2036 4,258,680 0.0091
The following information is being made available for informational purposes:
Current Current Projected Debt
NAV: $35,006,432,662 Debt Service Service
Current Debt Service / NAV Projected Debt / NAV
Schedule Service Schedule
Date Amount Date Amount
2026 3,556,662 0.01% 2026 $3,010,554 0.01%
2027 3,572,244 0.01% 2027 8,366,033 0.02%
2028 3,579,271 0.01% 2028 8,382,662 0.02%
2029 1,078,606 0.00% 2029 5,499,997 0.02%
2030 1,078038 0.00% 2030 5,499,229 0.02%
2031 1,075,803 0.00% 2031 5,497,233 0.02%
2032 2032 4,260,908 0.01%
2033 2033 4,262,130 0.01%
2034 2034 4,263,165 0.01%
2035 2035 4,258,220 0.01%
2036 2036 4,258,680 0.01%
Park District Outstanding Long Term Debt $13,120,000
Overlapping Taxing Unit Long Term Debt $43,728,234
Total Direct and Overlapping Debt $56,848,234
Net Assessed Value $35,006,432,662
Ratio of Total Overlapping Debt to NAV %0.16
Dated June 12, 2026
SECRETARY, BOARD OF PARKS AND CREATION
LAKE COUNTY PARK DISTRICT
June 12, 2026
86806
Valid from to