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<br />City of Lakewood, Ohio <br />Municipal Recreational Facilities Notes, Series 2007 <br /> <br />Fiscal Officer's Certificate of Maximum Maturity <br /> <br />To the Council of the City of Lakewood' <br /> <br />The undersigned, Director of Finance, as fiscal officer of the City of Lakéwood, <br />Ohio, certifies as follows in connection with your proposed issue of securities to pay the <br />costs of constructing, reconstructing, renovating, rehabilitating, and improving municipal <br />recreational facilities at Lakewood Park and other municipal park and pool faci1ities (the <br />"Municipal Recreational Facilities Project")' <br /> <br />1 All of the permanent improvements inc1uded in the Municipal Recreational <br />Facilities Project have an estimated life or period of usefulness of at least five <br />years. <br /> <br />2 The following is a schedule of the amounts of the proceeds of the Securitiesio be <br />used for the categories of permanent improvements included in the Municipal <br />Recreational Facilities Project, together with the maximum maturity of bonds for <br />each category, as specified in Section 13320, Ohio Revised Code: <br /> <br />(a) $33,000 for miscellaneous pool rehabilitation and þainting Foster Pool. <br />My estimate of the life or period of usefulness of the permanent <br />improvements in this category is 10 years The maximum maturity of <br />bonds tb finance the permanent improvements in this category, in <br />accordance with that estimate, is 10 years, as specified in Section 13320 <br />(C), Revised Code <br /> <br />(b) $217,000 for constructing; reconstructing, renovating, and improving the <br />municipal recreational facUities The estimated life or period of <br />usefulÜess of the permanent improvements in this category is 30 years, as <br />specified in Section 133 20(B)( 4)(a), Revised Code <br /> <br />3 The weighted average number of years of life or period of usefulness of the <br />pennãnent improvements included in the Municipal Recreational Facilities <br />Project, measured by the amounts proposed to be expended for the categories <br />described in paragraph 2 above is 27 36 years 1 have calculated that weighted <br />average in accordance with Section 133 lO(E), Revised Code. IT the Council <br />authorizes a single bond issue for all the categories of improvements set forth in <br />paragraph 2, the maximum rriaturity of bonds to finance the Municipal <br />Recreational Facilities Project wouId be 27 years <br /> <br />4. The maximum maturity of notes to be issued in anticipation of those bonds is 240 <br />months. <br /> <br />Date ~4-- 2E;f 2ecJ:¡- <br /> <br /> <br />03101/2007 Akron 38125 <br />