2001-018 Ordinance - Laserfiche WebLink

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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 bonds (the Bonds) in a maximum aggregate principal amount of $1,550,000 to be issued for the purpose of improving certain designated streets in the City, in cooperation with Cuyahoga County and otherwise, by grading, draining, widening, reconstructing the pavement base, preparing the surface, surfacing and resurfacing, constructing and reconstructing curbs, gutters, catch basins, storm sewers, sanitary sewers, water lines, sidewalks and driveway approaches and installing traffic signs and signalization, street lighting and related underground wiring, where necessary, in each case together with the necessary appurtenances and work incidental thereto (the improvements), that: L The estimated life or period of usefulness of each class of the improvements is at least five years. 2. The maximum maturity of the Bonds, calculated in accordance with Section 133.20 of the Revised Code, is at least fifteen years, since each class of the improvements has an estunated life ar period of usefulness of fifteen years or more, and bonds for each class of the improvements have a maximum maturity of at least fifteen years, or otherwise, if and to the extent a portion ofthe proceeds ofthe Bonds may be determined to be allocated to a class or classes having a maximum maturity of less than fifteen years but in excess of five years, then the maximum maturity of the Bonds would still be at least fi$een years by reason of a sufficient portion of the proceeds of the Bonds being allocated to a class or classes having a maximum maturity, by statute ar because of my estimate of the life or period of usefulness, in excess of fifteen years, including those classes having a maacimum maturity of twenty years. Dated: February 20, 2001 ? i?Z Director of Finance City of North Olmsted, Ohio