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FISCAL OFFICER'S CERTIFICATE <br />LAKE HOUSE BREAKWALL BOND ANTICIPATION NOTES - 1994 RENEWAL <br />Lakewood, Ohio <br />June 20, 1994 <br />TO THE COUNCIL OF THE -0ITY OF LAKEWOOD, OHIO: <br />The undersigned., Fiscal Officer of the City of Lakewood, Ohio (the <br />"City"), as defined by Revised Code Section 133.01, and in the ordinance <br />authorizing the bonds and notes in anticipation thereof hereinafter referred to, <br />hereby certifies in connection with your proposed issue of bonds and notes in <br />anticipation thereof for the purpose of paying the property owners' portion, in <br />anticipation of the collection of special assessments heretofore levied, of the <br />cost of improving an approximately twenty (20) foot wide easement with its <br />northern boundary located approximately twenty (20) feet north of the currently <br />existing southerly shore of Lake Erie in an area now submerged lands but formerly <br />a part of the lots on the northerly side of Edgewater Drive from the easterly <br />line of property now or formerly owned by the Unit Owners of the Lake House <br />Condominium as tenants in common, and assigned as its address 11850 Edgewater <br />Drive, westerly approximately 330 feet to the westerly line of said property, as <br />set forth in Resolution No. 6637-91 passed on September 16, 1991, by constructing <br />thereon a breakwall with concrete modules, fill and end return as follows: <br />1. That the estimated life of the improvement to be constructed <br />from the proceeds of such issue is hereby certified to be at least five (5) <br />years. <br />2. That the maximum maturity of the bonds authorized to be issued <br />for such improvements, calculated in accordance with Section 133.20, Ohio Revised <br />Code, is at least twenty (20) years, such being my estimate of the useful life <br />of such improvements, but because the special assessments will be payable over <br />a period of nineteen. (19) years, and the bonds are to be issued in the <br />anticipation of the collection of those special assessments, the maximum maturity <br />of the bonds is nineteen (19) years. <br />3. That the maximum maturity of notes issued in anticipation of <br />said bonds is the last day of the fifth year following the year in which the <br />original notes were issued for the improvements, to wit, December 31, 1997. <br />scal Officer <br />City of Lakewood, Ohio <br />134\14282AUA.81B <br />