Laserfiche WebLink
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 />issue of notes (the Notes) in the aggregate principal amount of $1,270,000, to be issued in <br />anticipation of the issuance of bonds (the Bonds) for the purpose of improving certain designated <br />streets in the City, in cooperation with the Director of Transportation of the State of Ohio and <br />Cuyahoga County and otherwise, by grading, draining, constructing, reconstructing and <br />rehabilitating the pavement base, curbs and sidewalks and adjusting, rehabilitating and <br />reconstructing catch basins, manholes and water valve boxes, where necessary, preparing the <br />surface and surfacing and resurfacing, in each case together with the necessary appurtenances <br />and work incidental thereto (the improvements), that: <br />The estimated life or period of usefulness of each class of the improvements is at least <br />five years. <br />2. The estimated maximum maturity of the Bonds, calculated in accordance with Section <br />133.20 of the Revised Code, is at least fifteen years, because each class of the improvements has <br />an estimated life or period of usefulness of fitteen years or more and bonds for each class of the <br />improvements have a maximum maturity of at least fifteen years, or otherwise, if and to the <br />extent a portion of the proceeds of the Bonds may be determined to be allocated to a class or <br />classes having a maximum maturity of less than fifteen years but in excess of five years, then the <br />maximum maturity of the Bonds would still be at least fifteen years by reason of a sufficient <br />portion of the proceeds of the Bonds being allocated to a class or classes having a maximum <br />maturity, by statute or because of my estimate of the life or period of usefulness, in excess of <br />fifteen years, including those classes having a life or period of usefulness of twenty years. If <br />notes in anticipation of the Bonds are outstanding later than the last day of December of the fifth <br />year following the year of issuance of the original issue of notes, the period in excess of five years <br />shall be deducted from that maximum maturity of the Bonds. <br />3. The maximum maturity of the Notes is Apri14, 2027. <br />Dated: January 29, 2008 (?OZAL 4 o / A---' <br />Director of Finance <br />City of North Olmsted, Ohio