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NOTICE OF ADOPTION OF PRELIMINARY DETERMINATION Notice is hereby given pursuant to IC 6-1.1-20-3.1 and IC 6-1.1-20-5 that the Board of Directors of the Merrillville Conservancy District ("District") did, on October 19, 2020, make a preliminary determination to issue bonds for the construction of certain additions and improvements to the sewage works in the District ("Project"), together with necessary appurtenances, related improvements and equipment. The bonds will be issued to pay the costs of the Project, and pay for costs of issuance and costs incidental to the Project. The bonds will be issued for a term not to exceed twenty (20) years with a maximum principal amount of $16,000,000 and estimated interest rates ranging from 0.5% to 4% per annum, resulting in a total estimated interest cost of $2,400,000. As required by Indiana Code 6-1.1-20-3.1(b)(1), the following information was available to the public at the public hearings on the preliminary determination: (i) the District's current and projected annual debt service payments divided by the net assessed value of taxable property within the District, which is 1.58%; and (ii) the sum of the District's outstanding long term debt plus the outstanding long term debt of other taxing units that include any other territory of the District divided by the net assessed value of taxable property within the District, which is 7.01%. The District's current debt service levy is $3,191,046 and the current rate is $0.1300. After the bonds are issued, the debt service levy will increase by a maximum of $50,000 and the debt service rate will increase by a maximum of $0.0020. The estimated amount of the District's debt service levy and rate that will result during the following 10 years if the District issues the bonds, after 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 as follows: Year Estimated Total Estimated Total Debt Service Levy Debt Service Rate 2021 $3,240,000 0.1320 2022 3,240,000 0.1320 2023 2,417,000 0.0985 2024 2,367,000 0.0964 2025 2,255,000 0.0919 2026 2,143,000 0.0873 2027 1,606,000 0.0654 2028 1,606,000 0.0654 2029 1,606,000 0.0654 2030 1,606,000 0.0654 The purpose of the bonds is to provide for the Project. Any owners of real property within the District or registered voters residing within the District who want to initiate a petition and remonstrance process against the proposed bonds must file a petition that complies with IC 6 1.1 20 3.1 subdivisions (4) and (5) not later than 30 days after publication of this notice. Dated November 2, 2020 MERRILLVILLE CONSERVANCY DISTRICT 11/2, 11/9/2020 6805281 HSPAXLP

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