2003-156 Ordinance - Laserfiche WebLink

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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 $550,000, to be issued in anticipation of the issuance of bonds (the Bonds) to pay costs of acquiring emergency rescue squad and other motor vehicles and related equipment for the City's Fire Department, that: 1. The estimated life or period of usefulness of the vehicles and equipment described above is at least five years. 2. The estimated maximum maturity of the Bonds, calculated in accor.dance with Section 133.20 of the Revised Code, is at least eight years, because each class of the vehicles and equipment has, by statute or my estimate, an estimated life or period of usefulness of eight years or more, and bonds for each class of the vehicles and equipment have a maximum maturity of at least eight 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 eight years but in excess of five years, then the maximum maturity of the Bonds would still be at least eight 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 eight years, including those classes having a maximum maturity of ten 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 thirteen years from the date of issuance. OAL? 6 (? Dated: November 5, 2003 Director of Finance City of North Olmsted, Ohio ,?, .,.?.. . .