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FISCAL OFFICER'S CERTIFICATE <br /> <br />OLIVE-LAKE WATER MAIN BOND ANTICIPATION NOTES - 1985 RENEWAL <br /> <br />Lakewood, Ohio <br />October 21, 1985 <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 Revised Code Section <br />133.01, hereby certifies in connection with your proposed issue of bonds <br />and notes in anticipation thereof in the principal amount of $550,000 <br />for the purpose of replacing water mains, fire hydrants and curb <br />connections in Olive Avenue and Lake Avenue, as follows: <br /> <br /> 1. That the estimated life of the improvements constructed <br />from the proceeds of such issue is hereby certified to be at least five <br />(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 <br />Section 133.20, Ohio Revised Code, is forty (40) years, being also my <br />estimate of the life usefulness of such improvements, provided that if <br />notes in anticipation of such bonds will be outstanding for a period in <br />excess of five (5) years from the date of the original issue, the period <br />thereof in excess of five (5) years shall be deducted from such maximum <br />maturity of said bonds. <br /> <br /> 3. That the maximum maturity of notes issued in anticipation <br />of said bonds is twenty (20) years from the date of original issuance of <br />said notes, to wit, May 18, 2003, provided that if such notes are sold <br />at private sale, then their maximum maturity is one (1) year. <br /> <br />City of Lakewood, Ohio <br /> <br />141S7/14282C <br /> <br /> <br />