2005-51 Ordinance - Laserfiche WebLink

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S {g FISCAL OFFICER'S CERTIFICATE To the Council of the City of North Olmsted, Ohio: As fiscal officer of the City of North Olmsted, I certify in connection with your proposed issue of notes (the Notes) in the aggregate principal amount of $47,000, to be issued in anticipation of the issuance of bonds (the Bonds) to pay costs of improving and equipping the City Hall, that: 1. The estimated life or period of usefulness of each class of the improvements and equipment described above is at least five years. 2. The estimated maximum maturity of the Bonds, calculated in accordance with Section 133.20 of the Revised Code, at least ten years, since each class of the improvements and equipment has an estimated life or period of usefulness of ten years or more and bonds for each class of the improvements and equipment have a maximum maturity of at least ten years, or otherwise, if and to the extent a portion of the proceeds of the Bonds may be determined to be allocated to a class or classes having a maximum maturity of less than ten years but in excess of five years, then the maximum maturity of the Bonds would still be at least ten years by reason of a sufficient portion of the proceeds of the Bonds being allocated to a class or classes having a maximum maturity, by statute or because of my estimate of the life or period of usefulness, in excess of ten years, including those classes having a life or period of usefulness of twenty years. If notes in anticipation of the Bonds are outstanding later than the last day of December of the fifth year following the year of issuance of the original issue of notes, the period in excess of five years shall be deducted from that maximum maturity of the Bonds. 3. The maximum maturity of the Notes is fifteen years. Dated: April 19, 2005 OA*W�16 &)6& Director of Finance City of North Olmsted, Ohio