Cook County Sales Tax Revenue Bonds

Sales Tax Authority and Levy SEAL COOK ANUARY 18:31 KCO SILL As a home rule unit of government, the County has significant authority to levy and raise taxes, as limited by the State constitution and State statute, and as specifically authorized by: 1. Home Rule County Retailers' Occupation Tax Law (55 ILCS 5/5-1006) 2. Home Rule County Service Occupation Tax Law (55 ILCS 5/5-1007) Pledged Revenues for debt service consist of the Home Rule County Retailers' Occupation Tax and the Home Rule County Service Occupation Tax (collectively known as "Home Rule Sales Taxes") • Currently there is no limit on the rate at which the County may impose the Home Rule Sales Taxes, although applicable statutes require the Home Rule Sales Taxes to be imposed only in one-quarter percent (0.25%) increments o County's Sales Tax rate is currently 1.75% and has been at this level since 2016 • The County has shown a willingness to adjust Sales Tax rate to address budgetary needs 8

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