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FISCAL OFFICER'S CERTIFICATE <br /> <br />Sewer System Improvements Notes - 1986 Renewal <br /> <br /> Lakewood, Ohio <br /> February 21, 1986 <br /> <br />TO THE COUNCIL OF THE CITY OF LAKE~OOD, OHIO: <br /> <br /> The undersi~ned, Director of Finance of the City of Lakewood, <br />Ohio, as fiscal officer thereof, as defined by Section 133.01, Ohio <br />Revised Code, hereby certifies in connection with your proposed issue <br />of bonds and notes in anticipation thereof in the principal amount of <br />$6,000,000 for the purpose of ~akins improvements to the City's sewase <br />treatment and disposal works and its ancillary systems, as follovs: <br /> <br /> 1. That the estimated life of the property and improvements <br />to be acquired from the proceeds of such bonds is hereby certified to <br />be at least five (5) years. <br /> <br /> 2. That the maximmmaturity of such bonds to be issued for <br />such purpose, calculated in accordance vith the provisions of Section <br />133.20, Ohio Revised Code, is forty (60) years, beins also my estimate <br />of the life usefulness of such improvements, provided that if notes in <br />anticipation of such bonds viii be outstandins for a period in excess <br />of five (5) years from the date of the ori$inal issue, the period there- <br />of in excess of five (5) years shall be deducted from such maximmmaturity <br />of said bonds. <br /> <br /> 3. The ~aximummaturity of notes issued in anticipation of <br />such bonds is ten (10) years, provided that if such notes are sold at <br />private sale, then theirmaxl~ummaturity is one (1) year. <br /> <br />Ill of ehich is respectfully sub2itted. <br /> <br />Director of Finance <br />City of Lakevood, Ohio <br /> <br /> <br />