41-92 Bonds $174,000 - Lighting & restrooms in parks

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FISCAL OFFICER'S CERTIFICATE $210,000 PARKS IMPROVEMENT BONDS Lakewood, Ohio May 4, 1992 TO THE COUNCIL OF THE CITY OF LAKEWOOD, OHIO: The undersigned, Fiscal Officer of the City of Lakewood, Ohio (the "City"), as defined by Revised Code Section 133.01, and in the ordinance authorizing the bonds hereinafter referred to, hereby certifies in connection with your proposed issue of bonds in the principal amount of $210,000 for the purpose of improving parks by installing playground safety surfaces, constructing a miniature golf facility and bandstand and remodeling a pavilion, as follows: 1. That the estimated life of the improvements constructed from the proceeds of such issue is hereby certified to be at least five (5) years. 2. That maximum maturity of the bonds authorized to be issued for such improvement, 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 $180,000 for constructing a miniature golf facility and bandstand and remodeling a pavilion - twenty (20) years, thi$ being my estimate of the period of usefulness of such improvements; b. $ 30,000 for installing playground safety surfaces _ ten 10 years; and c. The weighted average of the amounts proposed to be expended for those two classes of improvements is eighteen (18) years. Should you authorize a bond issue or issues for all of those classes, the maximum maturity of those bonds could not exceed the weighted average of eighteen (18) years, provided that if notes in anticipation of those bonds are outstanding for a period in excess of five years from the date of the original issue, the period thereof in excess of five years must be deducted from the maximum maturity of those bonds. ~~ ""00" 0" . City of Lakewood, Ohio 39\14282BYA.81B