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Series K <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 $1,500,000 of bonds (the Bonds) for the purpose of refunding at a <br />lower interest cost the $1,410,000 of the City's outstanding Springvale Golf Course and Ballroom <br />Improvement Bonds, Series 2001, issued as part of a consolidated issue of $12,430,000 Capital <br />Improvement and Refunding Bonds, Series 2001, dated as of May 1, 2001, that are stated to mature <br />on December 1 in the years from 2013 through 2016 and 2021 (the Refunded Bonds) and were <br />issued for the purpose of improving the City's Springvale Golf Course and Ballroom facility by <br />constructing an irrigation system, a maintenance and storage building and drainage, cart path and <br />other improvements for the Golf Course and renovating, remodeling, adding to, furnishing, <br />equipping and otherwise improving the Clubhouse and Ballroom (the improvements), that: <br />1. The estimated life or period of usefulness of the improvements was, at the time <br />of 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, 2021, 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 />