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<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 $2,960,000 notes (the Notes), to be issued in anticipation of the issuance of <br />bonds (the Bonds) for the purpose of constructing, furnishing and equipping a fire station and <br />preparing, improving and equipping its site (the improvements), that: <br />1. The estimated life or period of usefulness of each class of the improvements <br />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 twenty-five years. The maximum maturity is <br />based on my calculation of the average number of years of the life or period of usefulness of the <br />improvements as measured by the weighted average of the amounts proposed to be expended for <br />the several classes of improvements as follows: $2,280,000 for constructing the fire station, <br />thirty years, and not more than $680,000 for furnishing and equipping the fire station and <br />preparing, furnishing and equipping its site, ten years; the weighted average maturity is therefore <br />at least twenty-five years. If notes in anticipation of the Bonds are outstanding later than the last <br />day of December of the fifth year following the year of issuance of the original issue of notes, <br />the period in excess of five years shall be deducted from that maximum maturity of the Bonds. <br />3. The maximum maturity of the Notes is twenty years. <br />Dated: June 21, 1994 <br />~~~~~ <br />Director of Finance <br />City of North Olmsted, Ohio <br />