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DTE 130 Rev. 8/10 O.R.C. §§133.18, 5705.03(8) CERTIFICATE OF ESTIMATED AVERAGE ANNUAL PROPERTY TAX LEVY FOR BONDS OF SUBDIVISIONS OF THE STATE The County Fiscal Officer of the County of Cuyahoga, Ohio, does hereby certify the following: 1. On December _, 2017, the taxing authority of the City of North Olmsted filed with me a certified copy of its Resolution No. 2017-_, adopted December _, 2017, declaring the necessity of issuing bonds in the aggregate principal amount of $44,800,000, and levying a tax outside the City's 11.1 -mill charter tax rate limitation for the purposes set forth in that resolution to be placed on the ballot at the May 8, 2018 election. 2. The estimated average annual property tax levy required throughout the stated maximum maturity of the bonds to pay the interest on the bonds and retire the principal over 24 years is calculated to be (_._) mills for each one dollar of valuation, which is cents ($0.__) for each $100 of tax valuation. 3. The total tax valuation of the subdivision used in calculating the estimated average annual property tax levy is $ Dated: December , 2017 County Fiscal Officer County of Cuyahoga, Ohio Instructions 1. "Total tax valuation" should include the taxable value of all real property and certain public utility personal property in the subdivision. Because of the rapid phase-out of the tangible personal property tax, including certain public utility personal property, and the long term of a bond issue, the taxable value of such property should not be included in "total tax valuation." See Bulletin 8 for a more detailed explanation of the exclusions from tax valuation and how to obtain them. If the subdivision is located in more than one county, the home county auditor (where the greatest taxable value of the subdivision is located) shall obtain the assistance of the other county auditors to establish the total tax valuation of the subdivision. 2. For purposes of this certification, "subdivision" includes any agency, board, commission, or other authority authorized to request a taxing authority to submit a tax levy on its behalf. 3. In calculating the estimated average annual property tax levy, the auditor shall assume that the bonds are issued in one series bearing interest and maturing in equal principal amounts in each year over the maximum maturity of the bonds, and that the subdivision's tax valuation for the current year remains the same throughout that period. If the tax valuation for the current year (the year in which you are making this certification) is not yet determined the auditor shall estimate that valuation. In other words, the total tax valuation used for this purpose may differ from the tax valuations on the tax lists that were most recently certified for collection. 4. For purposes of this certification, we suggest that you round the millage to the nearest tenth (0.1) of a mill. This ensures that whole cents will be presented here and on the ballot. 5. Please file this certificate with the subdivision as soon as possible so that the taxing authority can pass a resolution to proceed not later than 98 days before the election for school districts, or 90 days before the election for all other subdivisions.