Ordinance No. 9383 Passed September 21, 2026 EMERGENCY

Ordinance No. 9383 Passed September 21, 2026 EMERGENCY CLAUSE ADOPTED 9-21-26 ORDINANCE AFFIRMING THE CITY'S PARTICIPATION IN AMERICAN MUNICIPAL POWER'S RATE STABILIZATION PROGRAM, AND AUTHORIZING THE EXECUTION OF A LOAN AGREEMENT AND THE EXECUTION AND DELIVERY OF A PROMISSORY NOTE, AND DECLARING AN EMERGENCY WHEREAS, the City of Bowling Green, Ohio (the "City") and American Municipal Power, Inc. ("AMP") have entered into a Master Services Agreement designated as AMP Contract No. C-11-2005-4433 (the "MSA") pursuant to which certain services can be provided pursuant to schedules thereto; WHEREAS, AMP has established a Rate Stabilization Program (the "Program") to assist its members to lessen their volatility in cash flow due to fluctuations in monthly power supply costs and to smooth their customers' monthly bills; WHEREAS, pursuant to Ordinance 9358 passed by City Council on June 15, 2026, the City has determined to participate in the Program in order to meet the City's debt service coverage ratio obligations in 2026 and 2027, while implementing the recommendations of its Cost of Service and Rate Study, which will provide lower and more stable annual electric rate increases for the benefit of all customers of the City's electric system (the "System"); and WHEREAS, in order to participate in the Program, it is also necessary for the City to enter into a loan agreement and deliver a promissory note to AMP, as further set forth herein. BE IT ORDAINED BY THE COUNCIL OF THE CITY ' OF BOWLING GREEN, OHIO THAT: SECTION 1: The City shall participate in the Program, upon the terms and conditions as set forth in a Schedule to the MSA (the "Schedule"), in substantially the form attached hereto and made a part hereof. SECTION 2. As set forth in the Schedule, AMP will loan the City a principal amount of not to exceed $7,400, 000 in 2026 and 2027. Such loan will be on the terms and conditions as set forth in the Schedule and in a Draw to Term Loan Agreement (the "Loan Agreement") and evidenced by a Promissory Note (the "Promissory Note"), each substantially in the form attached hereto or on file with the Clerk of Council. The loan shall be repayable solely from the revenues of the System, payable as an operation and maintenance expense of the System. SECTION 3. The Mayor and Director of Utilities are each individually authorized to execute and deliver, on behalf of the City, the Schedule, the Loan Agreement and the Promissory Note substantially in the form of the Schedule, the Loan Agreement and the Promissory Note attached to this Ordinance or on file with the Clerk of Council with such changes thereto as may be mutually agreed upon by AMP and the City. SECTION 4. The Promissory Note is secured by the revenues of the System as an operation and maintenance expense of the System. SECTION 5. It is found and determined that all formal actions of this Council concerning and relating to the adoption of this ordinance were adopted in an open meeting of this Council, and that all deliberations of this Council and of any of its committees that resulted in such formal action, were in meetings open to the public, in compliance with all legal requirements including Section 121. 22 of the Ohio Revised Code. The SECTION 6: This Ordinance shall take effect as an emergency measure. The reason for the emergency is that the prompt effectiveness of this measure is necessary in order to maintain the process schedule, and thereby protect the public health, safety and well-being of our citizens. Passed September 21, 2026 Mark Hollenbaugh, President of Council Jodi Sickler, Clerk of Council Approved September 22, 2026 Michael A. Aspacher, Mayor Hunter Brown, City Attorney # 659 - September 26, 2026