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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 $5,260,000 notes (the 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 />together with necessary appurtenances and work incidental thereto, that: <br />1. The estimated life or period of usefulness of each class of the improvements <br />described above 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 twenty years, or otherwise, if and to the extent a portion <br />of the proceeds of the Bonds may be determined to be allocated to a class or classes having a <br />maximum maturity of less than twenty years but in excess of five years, then the maximum <br />maturity of the Bonds would still be at least twenty years by reason of a sufficient portion of the <br />proceeds of the Bonds being allocated to a class or classes having a maximum maturity, by <br />statute or because of my estimate of the life or period of usefulness, in excess of twenty years, <br />including those classes having a maximum maturity of forty years. If notes in anticipation of <br />the Bonds are outstanding later than the last day of December of the fifth year following the year <br />of issuance of the original issue of notes, the period in excess of five years shall be deducted <br />from that maximum maturity of the Bonds. <br />3. The maximum maturity of the Notes is twenty years. <br />Dated: February 15, 1994 <br /> <br />Director of Finance <br />City of North Olmsted, Ohio <br />