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.~ ~ <br />4 <br />FISCAL OFFICER'S CERTIFICATE <br /> <br />North Olmsted, Ohio <br />September Zl, 1976 <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 improvements described in your <br />proposed ordinance authorizing the issuance of $21,000 of bond anticipation <br />notes for recreational facilities is hereby certified to beat least five <br />years. <br />2. The maximum maturity of the $21,000 of bonds to be issued <br />therefor, calculated in accordance with the provisions of Ohio Revised <br />Code Section 133.20, and the weighted average of the amounts proposed to <br />be expended for said several classes of improvements is as follows: <br />a. $8,100 for constructing a building housing an <br />ice skating rink, swimming pool,. tennis courts <br />and appurtenant facilities and for the con- <br />struction of a toboggan slide -- 25 years, this <br />being my estimate of the period of usefulness of <br />such building, toboggan slide and recreational <br />facilities. <br />b. $12,900 for site development and improvement -- <br />10 years, this being my estimate of the period <br />of usefulness of such site development and <br />~ improvement. <br />c. The weighted average of the amounts proposed to be <br />expended for said several classes is 15 years. <br />Should you authorize a single bond issue for all of said <br />classes, the maximum maturity of said bonds could not ex- <br />ceed such weighted average of 15 years, provided that if <br />notes in anticipation of such bonds are outstanding for <br />a period. in excess of five years from the date of the <br />original issue, the period thereof in excess of five <br />years shall be deducted from such maximum maturity of <br />said bonds. <br />3. That the maximum maturity of the notes now proposed to be <br />issued in anticipation of such bonds is eight years from the date of <br />issuance of the original notes issued for such purpose, if sold publicly, <br />or one year if sold at private sale. <br />All of which is respectfully submitted, <br />Direc or of Finance <br />City o North Olmsted <br />,_V _ -.~ .,.. _, ,. ~_~.,.R-,~~,~,ti~..., . <br />