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TO THE COUNCIL OF THE CITY OF NORTH OLMSTED, OHIO: <br />The undersigned, Director of Finance of the City of North Olmsted, <br />Ohio, as the fiscal officer thereof, hereby certifies in connection with <br />your proposed issue of notes in anticipation of the issuance of bonds for <br />the purpose of purchasing trucks, automobiles and other motorized equipment, <br />together with the necessary appurtenances thereto, for various departments <br />of the City, as follows: <br />1. That the estimated life of the equipment described above is <br />hereby certified to be at least five years. <br />2. That the maximum maturity of bonds to be issued for that <br />equipment, calculated in accordance with the provisions of Section 133.20, <br />Ohio Revised Code, is five years, provided that if notes in anticipation <br />of such bonds are outstanding for a period in excess of five years from <br />the date of the original issue, the period in excess of five years shall <br />be deducted from such maximum maturity of said bonds. <br />3. That the maximum maturity of the notes in anticipation of the <br />issuance of bonds to be issued for that equipment is eight years, provided <br />that if such notes are sold at private sale, then their maximum maturity <br />is one year. <br />Respectfully submitted, <br />/ <br />Director of Finance <br />City of North Olmsted, Ohio <br />Dated: August 10, 1981