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.,~ <br />,• . <br />f_ <br />. FISCAL OFFICER'S CERTIFICATE <br />North Olmsted, Ohio <br />July 6, 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 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 their date of issuance if sold <br />publicly, or one year if sold at private sale. <br />All of which is respectfully submitted. <br /> <br />Di#ector of Finance <br />City of North Olmsted <br />