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<< ,• <br />?. <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 $4,200,000 bonds (the Bonds) for the purpose of acquiring Springvale Country <br />Club, including land and the clubhouse, maintenance building and other structures located <br />thereon, fixtures, furnishings and equipment, sprinkler, underground drainage and water <br />distribution systems and related site improvements, all together with the necessary appurtenances <br />thereto, for use as a golf course and recreational and community center, that: <br />1. The estimated life or period of usefulness of each class of the improvements <br />described above is at 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-five years, since each such class of improvements has, <br />by statute or by my estimate, a life or period of usefulness of at least twenty-five years and <br />bonds for each class of the improvements have a maximum maturity of at least twenty-five <br />years, or otherwise, if and to the extent a portion of the proceeds of the Bonds may be <br />determined to be allocated to a class or classes having a maximum maturity of less than <br />twenty-five years but in excess of five years, then the maximum maturity of the Bonds would <br />still be at least twenty-five years by reason of a sufficient portion of the proceeds of the Bonds <br />allocated to a class or classes having a maximum maturity, by statute or because of my estimate <br />of its life or period of usefulness, in excess of twenty-five years, including those classes having <br />a maximum maturity of thirty years. <br />? <br />Dated: August 19, 1996 <br />Director of Finance <br />City of North Olmsted, Ohio <br />D03: [00523.DOCS. NOR05228]FOC_GOLF_COURSE_$4_200.