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FISCAL OFFICER'S CERTIFICATE <br />To the Council of the City of Lakewood, Ohio: <br />As fiscal officer of the City of Lakewood, I certify in connection with your <br />proposed issue of $992,000 notes (the Notes), to be issued in anticipation of the issuance of <br />bonds (the Bonds) for the purpose of improving certain designated streets in the City of <br />Lakewood, Ohio, by removal, where necessary, of the existing surface course, by grading and <br />replacement, where necessary, of the base, and by resurfacing with asphaltic concrete, including <br />the necessary replacement and resetting of castings together with the necessary appurtenances <br />thereto, and the installation of traffic signalization devices (the improvements), that: <br />1. The estimated life or period of usefulness of the improvements is at least five <br />years. <br />2. The estimated maximum maturity of the Bonds, calculated in accordance with <br />Section 133.20 of the Revised Code, is fifteen years. If notes in anticipation of the Bonds are <br />outstanding later than the last day of December of the fifth year following the year of issuance <br />of the original issue of notes, the period in excess of those five years shall be deducted from that <br />maximum maturity of the Bonds. <br />3. The maximum maturity of the Notes is June 26, 2011. <br />Dated: March 21, 1994 <br />~ ^Director of Finance <br />City of Lakewood, Ohio <br />D03 ~ [00523.DOCS..LAK04148]FOC_STREETS .RENEWAL <br />