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~ FISCAL OFFICERS CERTIFICATE <br />North Olmsted, Ohio <br />TO THE COUNCIL OF THE CITY OF NORTH OLMSTED, OHIO: <br />The undersigned, as fiscal officer of the City of North Olmsted <br />hereby certifies as follows: <br />1. The estimated life of the vehicles described in your proposed <br />ordinance authorizing the issuance of $175,000 of bond anticipation notes to <br />purchase two ambulances and afire. pumper is hereby certified to be at least <br />five years. <br />2. The maximum maturity of the $175,000 of bonds to be issued <br />therefor, calculated in accordance with the provisions of Ohio Revised Code <br />Section 133.20, and the weighted average of the amounts proposed to be expended <br />for said several classes of improvements is as follows: <br />a. $85,000 for acquiring afire pumper -- Class (E) - 10 years. <br />b. $90,000 for acquiring two ambulances -- Class (F) - 5 years. <br />c. The weighted average of the amounts proposed to be expended <br />for said several classes is seven years. <br />Should you authorize a single bond issue for all of said classes, <br />the maximum maturity of said bonds could not exceed such weighted <br />average of seven years, provided that if notes in anticipation of <br />such bonds are outstanding for a period in excess of five years <br />from the date of the original issue, the period thereof in excess <br />of five years shall be deducted from such maximum maturity of said <br />bonds. <br />3. That the maximum maturity of the notes now proposed to be issued <br />in .anticipation of such bonds is eight years from the date of the notes <br />originally issued for such purpose, viz. October 12, 1984, if sold publicly; <br />or one year if sold at private sale. <br />All of which is respectfully submitted. <br />Director of Finance <br />City of North Olmsted <br />