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<br />FISCAL OFFICER'S CERTIFICATE <br />To the Council of the City of North Olmsted, Ohio: <br />As fiscal officer of the City of North Olmsted, I certify in connection with your proposed <br />issuance of notes (the Notes), in anticipation of the issuance of all or a portion of the $4,000,000 <br />of bonds approved by the electors of the City at an election held on November 2, 2004 (the <br />Bonds), for the purpose of constructing, furnishing, equipping and otherwise improving a fire <br />station, providing fire apparatus and equipment to be housed therein and acquiring, preparing and <br />otherwise improving real estate and interests therein for its site, that: <br />1. The estimated life or period of usefulness of each class of the improvements described <br />above is at least five years. <br />2. The estimated maacimum maturity of the Bonds, calculated in accordance with Sections <br />133.19 and 133.20 of the Revised Code, is twenty years. That maximum maturity is based on <br />(i) my calculation of the average number of years of life or period of usefulness of the <br />improvements as measured by the weighted average of the amounts proposed to be expended for the <br />several classes of the improvements as follows: not less than $2,000,000 for constructing a fire <br />station and acquiring its site, 30 years, this being my estimate of the life or period of usefulness of <br />these classes of improvements; and not more than $2,000,000 for furnishing, equipping and making <br />certain other improvements to that fire station, providing fire apparatus and equipment to be housed <br />therein and preparing, landscaping and otherwise improving real estate and interests therein for its <br />site, 10 years, this being my estimate of the life or period of usefulness of these classes of <br />improvements; the weighted average being therefore not less than twenty years; and (ii) the fact that <br />the Bonds were approved by the electors with a maximum maturity of twenty years. If notes in <br />anticipation of the Bonds are outstanding later than the last day of December of the fifth year <br />following the year of issuance of the original issue of notes, the period in excess of those five years <br />shall be deducted from that maximum maturity of the Bonds. <br />3. The maximum maturity of the Notes is two hundred forty months. <br />Dated: November 3, 2004 0&[YU <br />Director of Finance <br />City of North Olmsted, Ohio