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~~~~ <br />FISCAL OFFICER'S CERTIFICATE <br />North Olmsted, Ohio <br />February 16, 1971 <br />TO THE COUNCIL OF THE CITY OF NORTH OLMSTED~ OHIO: <br />The undersigned, as fiscal officer of the City of North Olmsted, <br />as defined by Revised Code Section 133.01, hereby certifies in connection <br />with your proposed issue of notes and bonds for the purpose of paying the <br />property owners' portion and the City's portion of the cost of constructing <br />the sewer improvement described in Resolution No. 69-177, adopted Octoher 21, <br />1969 (Contract No. 15), as follows: <br />1. That the estimated life of the sewer improvement proposed to be <br />constructed from the proceeds of said issue is hereby certified to be at <br />least five years.. <br />2. That the maximum maturity of such bonds calculated in accordance <br />with the provisions of Section 133.20 of the Revised Code would be forty years, <br />brut by reason of the fact that the assessments in anticipation of which said <br />bonds are to be issued will be collected over twenty years, the maximum maturity <br />of said bonds is twenty years. <br />3. In the event notes are issued in anticipation of the issuance of <br />such bonds the maturity of such notes may not exceed five years from the date <br />of issuance of the original notes, namely, March 12, 1975, if sold publicly, <br />or one year if sold at private sale. <br />All of which is respectfully submitted. <br />Direr r of Finance <br />City P North Olmsted <br /> <br />