2006-033 Ordinance - Laserfiche WebLink

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Series N FISCAL OFFICER'S CERTIFICATE To the Council of the City of North Olmsted, Ohio: As fiscal officer of the City of North Olmsted, I certify in connection with your proposed issue of not to exceed $2,875,000 of bonds (the Bonds) for the purpose of improving certain designated streets in the City, in cooperation with the Director of Transportation of the State of Ohio, Cuyahoga County and otherwise, by grading, draining, widening, replacing sections of pavement, preparing the surface, surfacing and resurfacing, constructing and reconstructing sections of the pavement base, curbs, gutters, catch basins, manholes, sidewalks and driveway approaches and installing traffic signs, signalization and signalization systems, where necessary, in each case together with the necessary appurtenances and work incidental thereto (the improvements), that: 1. The estimated life or period of usefulness of each class of the improvements is at least five years. 2. The estimated maximum maturity of the Bonds, calculated in accordance with Section 133.20 of the Revised Code, is at least ten years, since each class of the improvements has an estimated life or period of usefulness of ten years or more and bonds for each class of the improvements have a maximum maturity of at least ten years, or otherwise, if and to the extent a portion of the proceeds of the Bonds maybe determined to be allocated to a class or classes having a maximum maturity of less than ten years but in excess of five years, then the maximum maturity of the Bonds would still be at least ten years by reason of a sufficient portion of the proceeds of the Bonds being allocated to a class or classes having a maximum maturity, by statute or because of my estimate of the life or period of usefulness, in excess of ten years, including those classes having a life or period of usefulness of fifteen years. Dated: February 7, 2006 Director of Finance City of North Olmsted, Ohio