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?. ??. <br />,... ?, r <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 <br />proposed issue of $7,660,000 notes (tlie Notes), to be issued in anticipation of the issuance of <br />bonds (the Bonds) for the purpose of improving certain designated streets in the City's street <br />system by grading, draining, widening, reconstructing the pavement base, preparing the surface <br />and surfacing and resurfacing, by constructing, reconstructing and rehabilitating catch basins, <br />curbs, driveway aprons, sanitary sewers and sanitary sewer service connections, sidewalks, <br />storm sewers and water mains and water service connections and by installing street lighting, <br />all where necessary, in each case together with the necessary appurtenances and work incidental <br />thereto (the improvements), that: <br />l. The estimated life or period of usefulness of each class of improvements is at <br />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 twenty years, since each class of the <br />improvements has an estimated life or period of usefuiness of twenty 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 twenty years but <br />in excess of five years, then the malcimum maturity of the Bonds would still be at least twenty <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 twenty years, including those classes having a life or period <br />of usefulness of forty years. If notes in anticipation of the Bonds are outstanding Iater than the <br />last day of December of the fifth year following 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 24, 2013, which is twenty years <br />from June 24, 1993, the date of the original notes issued for this purpose. <br />Dated: May 16, 1995 <br />Director of Finance <br />City of North Olmsted, Ohio <br />D03:[00523.DOCSNOR05223]FOC_STREETS $7.660 <br />