2006-020 Ordinance - Laserfiche WebLink

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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 $5,935,000 of bonds (the Bonds) for the purpose of refunding at a lower interest cost the $5,900,000 of the City's outstanding Sanitary Sewer Improvement Bonds, Series 1996, 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, 2016 (the Refunded Bonds) and were issued for the purpose of improving the City's sanitary sewer system and its functions by constructing, reconstructing, rehabilitating and replacing sanitary sewers, sanitary sewer connections and pumping and retention facilities, by improving and equipping the wastewater treatment plant and by constructing and reconstructing storm sewers and other storm water drainage facilities and improvements to control and limit the volume of storm water entering or otherwise affecting the sanitary sewerage system, together in all cases with any necessary appurtenances and the performance of any incidental work (the improvements), that: 1. The estimated life or period of usefulness of the improvements 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, 2016, 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 ~,.,, _ ~.~~N~,,.~.~.~,.. ,~.., .~_,~.~.