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 <br />proposed issue of $100,000 notes (the Notes), to be issued in anticipation of the issuance of <br />bonds (the Bonds) for the purpose of improving the City Administration Complex by renovating, <br />remodeling, rehabilitating and otherwise improving the Town Hall therein and constructing a <br />canopy to cover the fuel pump island on the site thereof, together with necessary appurtenances <br />and work incidental thereto, that: <br />1. The estimated life or period of usefulness of each class of the improvements <br />described above is at least five years. <br />2. The estimated maximum maturity of the Bonds, calculated in accordance with <br />Section 133.20 of the Revised Code, is at least fifteen years, since each class of the <br />improvements has an estimated life or period of usefulness of fifteen years or more, or <br />otherwise, if and to the extent a portion of the proceeds of the Bonds may be determined to be <br />allocated to a class or classes having a life or period of usefulness of less than fifteen yeazs but <br />in excess of five years, then the maximum maturity of the Bonds would still be at least fifteen <br />years by reason of a sufficient portion of the proceeds of the Bonds being allocated to a class <br />or classes having a life or period of usefulness, by statute or because of my estimate of the life <br />or period of usefulness, in excess of fifteen years, mcluding those classes havmg a life or period <br />of usefulness of twenty years. If notes in anticipation of the Bonds are outstanding later than <br />the last day of December of the fifth year followmg the year of issuance of the original issue of <br />notes, the period in excess of five years shall be deducted from that maximum maturity of the <br />Bonds. <br />3. The maximum maturity of the Notes is June 22, 2014, which is twenty years <br />from June 22, 1994, the date of the original notes issued for this purpose. <br />Dated: May 16, 1995 <br />D03:[00523.DOCSNOR05223]FOC-ADMIN_COMP_5100. <br /> <br />Director of Finance <br />City of North Olmsted, Ohio <br />