92-029 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 O1msYed, I certi.fy .in connect.ion with your proposed issue of $1,400,000 notes (the Not.es), to be issued in anticipation of the issuance of bvnds (the Bonds) for the purpvse of improving Silverdale Road, Selhurst. Road and DuanP Road by gr.ading, draining, curbing, reconstructing the pavement base, widening, preparing the surface and paving witli concrete, reconstructing storm sewers, sanitary sewers, water mains and driveway aprons where necessary, construct::ing sidewalks and install..i.ng above-ground wires and cables for street ligliting, together wi_th the necessary appurtenances and work incidental thereto. 1. The estimated life or period of usefulness of the improvement is at least five years. 2. The estimated maxi.mum maturi.ty of the Bonds, ca.Lciilated in acror- dance witli Section 133.20 of the Revised Code, is twenty years, or otfierwise, if and to the extent a portion of the proceeds of the Bonds may be determined to be allocated to a class or classes having a maxi.mum maturity of less tlian twenty years but in excess of five years, t.hen Y.he maxi.mum matu.rity of the Bonds would still be at least twenty years by reason of a sufficient portion of the proceeds of the Bonds allocated to a class or classes having a maximum maturi.ty, by statute or because of my estimat:e of the life or period of usefulness, in excess of twenty years, including t.hose classes having a maximum matur.ity of fort.y years. If notes in ant.ici.pation vf t.he Bonds are outstanding later than the ].ast day of. December of the f.ifth year following the year of issuance of the original issue of notes, the period in excess oC- f ive years shall be dedticted f rom tliat maximum maturity of the Bonds. 3. The maximum maturity of the Notes is twenty years. Dated: March 17, 1992 ? ?'??--- ll.rector of Finance City of Nvrt.h Olmsted, Oliio