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VARIOUS PURPOSE ISIPROVEAIFNTi\TOTES, SERIES 2016 <br />(WATER IMPROVEMENT PORTION) <br />CERTIFICATE OF ESTIMATED LIFE AND MAXIMUM MATURITY <br />To: The City Council of the <br />City of Lakewood, Ohio <br />The undersigned Director of Finance of the City of Lakewood, Ohio as the fiscal officer of said <br />City, hereby certifies as follows: <br />The estimated life of the improvements described as follows (the "Improvements ") exceeds five <br />years: <br />To pay costs of designing, engineering and constructing water <br />improvements, together with all necessary appurtenances thereto <br />2. The maximum maturity of the bonds proposed to be issued to pay the cost of the Improvements, <br />calculated in accordance with Section 133.20, Ohio Revised Code, is 25 years, provided that if <br />notes are issued in anticipation of the issuance of such bonds, the maximum maturity of such <br />notes is 20 years. <br />Dated: February 1, 2016 -- -- <br />Dir torofFinance <br />ty of Lakewood, Ohio <br />98509600 <br />