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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 proposed issue
<br />of notes in the principal amount of $3,948,000 (the "Motes"), to be issued in anticipation of the
<br />issuance of bonds (the "Bonds") to pay costs of resutfacing Arlington Road, Lakewood Avenue,
<br />Lazchmont Avenue, Madison Avenue, Morrison Avenue, Overlook Road, Wascana Avenue,
<br />Atkins Avenue, Brockley Avenue, Hird Avenue, Lakeland Road, Lauderdale Avenue, McKinley
<br />Avenue, Northland Avenue, St. Charles Avenue, Waterbury Road, Wyandotte Avenue, and other
<br />streets located in the City, improving Detroit Avenue and Madison Avenue by providing new traffic
<br />signalization and improving the municipal garage ventilation system, improving and renovating the
<br />refuse facility and replacing the roof on City Hall, together with all necessary appurtenances
<br />thereto (collectively, the "Improvement"), that:
<br />The estimated life or period of usefulness of the Improvement is at least five yeazs.
<br />2. The estimated maximum mahuity of the Bonds, calculated in accordance with Ohio
<br />Revised Code Section 133.20, is 15 years. That maximum maturity is based upon my calculation
<br />of the average number of years of life or period of usefulness of the Improvement as measured by
<br />the weighted average of the amounts proposed to be expended for the classes of the Improvement
<br />as follows: $3,413,653 for resurfacing streets and replacing traffic signals, 15 years, being my
<br />estimate of the life or period of usefulness for that class of the Improvement; and $534,347 for
<br />improving the municipal garage ventilation system, replacing the roof on City Hall and improving
<br />and renovating the refuse facility, 20 years, being my estimate of the life or period of usefulness for
<br />that class of the Improvement; the weighted average is therefore 15 years. If notes in anticipation of
<br />Bonds of any class of the Improvement are outstanding later than the last day of December of the
<br />fifth year following the year of issuance of the original notes for that class of the Improvement, the
<br />period in excess of those five years shall be deducted from the years of life or period of usefulness
<br />of that class of the Improvement.
<br />3. The maximum maturity o£ $1,948,000 the Notes is April 21, 2031 and $2,000,0000
<br />of the Notes is April 18, 2032, each of which is 20 years from the date of the original issuance of
<br />notes to pay costs of the Improvement.
<br />Dated: , 2013
<br />Director of Finance
<br />City of Lakewood, Ohio
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