47-82 Property owners portion - improve streets - BAN

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FISCAL OFFICER'S CERTIFICATE 1981 Street Improvement Notes - 1982 Renewal Lakewood, Ohio June 7, 1982 TO THE COUNCIL OF THE CITY OF LAKEWOOD, OHIO: The undersigned, Director of Finance of the City of Lakewood, Ohio, as fiscal officer thereof, as defined by Section 133.01, Ohio Revised Code, hereby certifies in connection with your proposed issue of bonds and notes in anticipation thereof in the principal amount of $280,000 for the purpose of paying the property owners' portion, in anticipation of the collection of special assessments, and the City's portion of the cost of improving Athens Avenue and certain other streets between certain termini designated in Ordinance No. 39-81, passed May 4, 1981, by the necessary grading and replacement of the base, resurfacing with ashaltic concrete including the necessary replacement and resetting of castings together with the necessary appurtenances thereto, as follows: 1. That the estimated life of the improvements to be constructed from the proceeds of such bonds is hereby certified to be at least five (5) years. 2. That the maximum maturity of such bonds to be issued for such purpose, calculated in accordance with the provisions of Section 133.20, Ohio Revised Code, is five (5) years, being also my estimate of the life usefulness of such improvements, provided that if notes in anticipation of such bonds are outstanding for a period in excess of five (5) years from the date of the original issue, the period thereof in excess of five (5) years shall be deducted from such maximum maturity of said bonds. 3. The maximum maturity of notes issued in anticipation of such bonds is eight (8) years, provided that if such notes are sold at private sale, then their maximum maturity is one (1) year. Ail of which is respectfully submitted, Director of Finance City of Lakewood, Ohio