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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 <br />$10,750,000 of bonds approved by the electors of the City at an election held on November 7, <br />2000 (the Bonds), for the purpose of constructing, furnishing, equipping and otherwise improving a <br />free public library building and acquiring, preparing, landscaping and otherwise improving its site, <br />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 maximum 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 $5,375,000 for constructing a free <br />public library and acquiring its site, 30 years, this being my estimate of the life or period of <br />usefulness of these classes of improvements; and not more than $5,375,000 for furnishing, <br />equipping and making certain other improvements to that library building and preparing, <br />landscaping and otherwise improving its site, 10 years, this being my estimate of the life or period <br />of usefulness of these classes of improvements; the weighted average being therefore not less than <br />twenty years; and (ii) the fact that the Bonds were approved by the electors with a maximum <br />maturity of twenty years. If notes in anticipation of the Bonds are outstanding later than the last day <br />of December of the fifth year following the year of issuance of the original issue of notes, the period <br />in excess of those five years shall be deducted from that maximum maturity of the Bonds. <br />3. The maximutn maturity of the Notes is twenty years. <br />_. ?.... <br />Dated: November 20,2000 6 <br />Director of Finance <br />City of North Olmsted, Ohio <br />?,, . . u. .