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_.. ., _. .~.,.,~.,.a,~, <br />~... <br />Series L <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 not to exceed $520,000 of bonds (the Bonds) for the purpose of refunding at a lower <br />interest cost the $515,000 of the City's outstanding Street Improvement Bonds, Series 2001, issued as <br />part of a consolidated issue of $12,430,000 Capital Improvement and Refunding Bonds, Series 2001, <br />dated as of May 1, 2001, that are stated to mature on December 1 in the years from 2013 through 2016 <br />(the Refunded Bonds) and were issued for the purpose of improving certain designated streets in the <br />City, in cooperation with Cuyahoga County and otherwise, by grading, draining, widening, <br />reconstructing the pavement base, preparing the surface, surfacing and resurfacing, constructing <br />and reconstructing curbs, gutters, catch basins, storm sewers, sanitary sewers, water lines, <br />sidewalks and driveway approaches and installing traffic signs and signalization, street lighting <br />and related underground wiring, where necessary, in each case together with the necessary <br />appurtenances and work incidental thereto (the improvements), that: <br />1. The estimated life or period of usefulness of the improvements was, at the time of <br />issuance of the Refunded Bonds, at least five years. <br />2. The maximum maturity of the Bonds, calculated in accordance with Sections <br />133.20 and 133.34(A)(3) of the Revised Code, is not earlier than December 1, 2016, which is the <br />final maturity date of the Refunded Bonds and was calculated consistently with the provisions of <br />Section 133.20 of the Revised Code. <br />Dated: February 7, 2006 . <br />Director of Finance <br />City of North Olmsted, Ohio <br />