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96-128 Ordinance
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96-128 Ordinance
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Last modified
1/28/2014 10:12:05 AM
Creation date
1/21/2014 4:41:28 AM
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North Olmsted Legislation
Legislation Number
96-128
Legislation Date
9/18/1996
Year
1996
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? <br />FISCAL OFFICER'S CERTIFICATE <br />To the Council of the City of North Olmsted, Ohio: <br />As fiscal officer of the City of North Olmsted, I certify in connection with your <br />proposed issue of $3,920,000 bonds (the Bonds) for the purpose of improving certain designated <br />streets in the City's street system by grading, draining, reconstructing the pavement base, <br />preparing the surface and surfacing and resurfacing, constructing, reconstructing and <br />rehabilitating catch basins, curbs, driveway aprons, sanitary sewers and sanitary sewer service <br />connections, sidewalks, storm sewers and water mains and water service connections and <br />installing street lighting, all where necessary, in each case together with the necessary <br />appurtenances and work incidental thereto (the improvements), that: <br />1. The estimated life or period of usefulness of each class of improvements is at <br />least five years. <br />2. The maximum maturity of the Bonds, calculated in accordance with Section <br />133.20 of the Revised Code, is twenty years, since each class of the improvements has an <br />estimated life or period of usefulness of twenty years or more and bonds for each class of the <br />improvements have a maximum maturity of at least twenty years, or otherwise, if and to the <br />extent a portion of the proceeds of the Bonds may be determined to be allocated to a class or <br />classes having a maximum maturity of less than twenty years but in excess of five years, then <br />the maximum maturity of the Bonds would still be at least twenty years by reason of a sufficient <br />portion of the proceeds of the Bonds being allocated to a class or classes having a maximum <br />maturiry, by statute or because of my estimate of the life or period of usefulness, in excess of <br />twenty years, including those classes having a maximum maturity of forty years. <br />__--- <br />Dated: August 19, 1996 <br />Director of Finance <br />City of North Olmsted, Ohio <br />D03:[00523.DOCS.NOR05228]FOC STREETSII S3 920.
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