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FISCAL OFFICER'S CERTIFICATE <br /> <br />Olive-Lake Water Main Notes - 1984 Second Renewal <br /> <br /> Lakewood, Ohio <br /> July 2, 1984 <br /> <br />TO THE COUNCIL OF THE CITY OF LAKEWOOD, OHIO: <br /> <br /> The undersigned, 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 of <br />bonds and notes in anticipation thereof in the principal amount of <br />$700,000 for the purpose of replacing water mains, fire hydrants and <br />curb connections in Olive Avenue and Lake Avenue, as follows: <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 be <br />at least five (5) years. <br /> <br /> 2. That the maximum maturity of such bonds to be issued for <br />such purpose, calculated in accordance with the provisions of Section <br />133.20, Ohio Revised Code, is forty (40) years, being also my estimate <br />of the life usefulness of such improvements, provided that if notes in <br />anticipation of such bonds will be outstanding for a period in excess of <br />five (5) years from the date of the original issue, the period thereof <br />in excess of five (5) years shall be deducted from such maximum maturity <br />of said bonds. <br /> <br /> 3. The maximum maturity of notes issued in anticipation of <br />such bonds is twenty (20) years from the date of the original issuance <br />of said notes, to wit, May 18, 2003, provided that if such notes are <br />sold at private sale, then their maximum maturity is one (1) year. <br /> <br />All of which is respectfully submitted. <br /> <br />Director of Finance <br />City of Lakewood, Ohio <br /> <br />133T10/14282G <br /> <br /> <br />