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~.~ ~.#_ <br />,Y . , <br />~, <br />FISCAL OFFICER'S CERTIFICATE <br />North Olmsted, Ohio <br />May 15 , 1973 <br />TO THE COUNCTI, OF THE C1'T'Y OF NORTH OI~TED, OHIO: <br />The undersigned, as fiscal officer of the City of North Olmsted, Ohio, <br />as defined by R.C. Section 133.01, hereby certifies in connection with your <br />proposed issue of bonds and notes in anticipation of the issuance of said <br />bands for the purpose of providing funds to purchase certain real estate and <br />the building thereon as a site for the expansion of the City Bu3.].ding Com- <br />plex, as follows: <br />1. That the esti~-ted life of the property and improvements <br />to be acquired from the proceeds of such bonds is hereby <br />certified to be at least five years. <br />2. The maximum maturity of such bonds calculated in accord- <br />ance with the provisions of Section 133.20 of the Revised <br />Code and the weighted average of the amounts proposed to <br />be expended for said several classes of improvements, is <br />as follows: <br />a. $ 4,000 for acquiring real estate and interests <br />in real estate - 30 years. <br />b. $30,300 for acquiring the building thereon - 25 <br />years, being the estimated period of life <br />usefulness of said building. <br />c. The weighted average of the amounts proposed to be ex- <br />pended for said several classes is twenty-five years, <br />should you authorize a single bond issue far all of said classes, the <br />maximum maturity of said bonds could not exceed such weighted average of <br />25 years. <br />The maximum maturity of notes issued in anticipation of such bonds <br />is five years provided that if such notes are sold at private sale, then <br />their maximum maturity is one year. <br />Respectf'u11y submitted, <br />-~ <br />Di c or o Hance <br /> <br />