41-91 $1.45 mil Fire Station Notes

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FISCAL OFFICER'S CERTIFICATE Lakewood, Ohio May 6, 1991 TO THE COUNCIL OF THE CITY OF LAKEWOOD, OHIO: The undersigned, Director of Finance of the City of Lakewood, Ohio (the "City"), as fiscal oft:icer thereof, as defined by Revise.d Code Section 133.01, hereby certifies in_connection with your proposed issue of bonds and notes in anticipation thereof in the principal amount of $1,145,000 for the purpose of acquiring real estate for a fire station, installing communication facilities for fire stations and renovating, furnishing and equipping a fire station, as follows: 1. That the estimated life of the facility acquired from the proceeds of such issue is hereby certified to be at least five (5) years. 2. That the maximtun maturity of the bonds authorized to be issued for such facility, calculated in accordance with Section 133.20, Ohio Revised Code, and the weighted average of the amounts proposed to be expended for said several classes of improvements is as follows: a. $700,000 for acquiring real estate, thirty (30) years; b. $285,000 for renovating the fire station, twenty-five (25) years, being my estimate of the useful life of such improvements; c. $15,000 for installing communication facilities for fire stations, fifteen (15) years; d. $145,000 for furnishing and equipping the fire station, ten (10) years; e. The weighted average of the amounts proposed to be expended for said several classes is at least twenty (20) years. Should you authorize a single bond issue for all of said classes, the maximtun maturity of said bonds could not exceed such weighted average of at least twenty (20) years, provided that if notes in anticipation of those bonds are outstanding later than the last day of December of the fifth year following the year of issuance of the original notes, the period thereof in excess of five years must be deducted from the maximtun maturity of those bonds.