2006-022 Ordinance - Laserfiche WebLink

Home Browse Search

Series C 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 $2,495,000 of bonds (the Bonds) for the purpose of refunding at a lower interest cost the $2,385,000 of the City's outstanding Recreational Facilities Bonds, Series 1996A, issued as a part of the consolidated issue of $43,020,000 Various Purpose Improvement Bonds, Series 1996, dated as of November 15, 1996, that are stated to mature on December 1 in 2016 and 2021(the Refunded Bonds) and were issued for the purpose of acquiring Springvale Country Club, including land and the clubhouse, maintenance building and other structures located thereon, fixtures, furnishings and equipment, sprinkler, underground drainage and water distribution systems and related site improvements, all together with the necessary appurtenances thereto, for use as a golf course and recreational and community center, that: 1. The estimated life or period of usefulness of the improvement described above was, at the time of issuance of the Refunded Bonds, at least five years. 2. The maximum maturity of the Bonds, calculated in accordance with Sections 133.20 and 133.34(A)(3) of the Revised Code, is not earlier than December 1, 2021, which is the final maturity date of the Refunded Bonds and was calculated consistently with the provisions of Section 133.20 of the Revised Code. Dated: February 7, 2006 Director of Finance City of North Olmsted, Ohio