Laserfiche WebLink
SANITARY SEWER SYSTEM SPECIAL OBLIGATION BONDS, SERIES 1992 <br /> <br />FISCAL OFFICER'S CERTIFICATE <br /> <br />TO: <br /> <br />DATE: <br /> <br />THE COUNCIL OF THE CITY OF LAKEWOOD, OHIO <br />January .. , 1992 <br /> <br /> The undersigned, fiscal officer of the City of Lakewood, <br />Ohio, as defined in Section 133.01, Ohio Revised Code, hereby <br />certifies as follows in connection with your proposed authorization <br />of your proposed issue of bonds in a principal amount not to exceed <br />$6,500,000 for the purpose in part of providing funds to pay the <br />costs of improving certain Utility Facilities, together with the <br />acquisition of certain real property, and acquiring certain <br />machinery and equipment, together with all appurtenances necessary <br />and incidental thereto, and to pay all financing costs, within the <br />meaning of Section 133.15(B) of the Revised Code, and as otherwise <br />permitted by law, incurred in connection with the issuance of the <br />bonds: <br /> <br /> 1. The estimated life of said improvements is at least <br />five (5) years. <br /> <br /> 2. The maximum maturity of the bonds, calculated in <br />accordance with Section 133.20 of the Ohio Revised Code, is at <br />least thirty-eight (38) years, based on my calculation, as follows, <br />of the average number of years of usefulness of the improvements as <br />measured by the weighted average of the amounts proposed to be <br />expended for the several classes of improvements: $5,976,135 for <br />improving the City's sewers and sewage treatment facilities - forty <br />(40) years; $305,165 for acquisition of real property - thirty (30) <br />years; and $218,700 for acquiring motor vehicles and equipment for <br />waste collection facilities, and facilities for administrative <br />functions related thereto, - five (5) years (this being my estimate <br />of the life or period of usefulness of those permanent <br />improvements); the average number of years of usefulness of the <br />improvements as measured by the weighted average of the amounts <br />proposed to be expended for said classes of improvements, <br />therefore, is thirty-eight (38) years. <br /> <br />Respectfully submitted, <br />City of L~ewoo~Ohio <br /> <br />196/14282AJC. 81K <br /> <br /> <br />