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<br />North Olmsted, Ohio <br />September 27, 1982 <br />TO THE COUNCIL OF THE CITY OF NORTH OLMSTED, OHIO: <br />The undersigned, as fiscal officer of the City of North Olmsted, <br />Ohio, as defined in Section 133.01, Ohio Revised Code, hereby certifies in <br />connection with your proposed issue of notes in anticipation of the issuance <br />of bonds for the purpose of constructing, furnishing and equipping a combined <br />bus garage, service garage and municipal administration building and improving <br />the site thereof, as follows: <br />1. That the estimated life of each class of the improvements <br />described above is hereby certified to be at least five years. <br />2. The maximum maturity of the bonds to be issued for each such <br />class of improvements, calculated in accordance with the provisions of Section <br />133.20, Ohio Revised Code, and the weighted average of the maximum maturities <br />of bonds to be issued for said several classes of improvements, based upon the <br />allocations set forth below, is as £ollows: <br />a. $2,133,334 for constructing a combined bus garage, service <br />garage and municipal administration building - 25 <br />years, this being my estimate of the period of <br />usefulness of such improvement; <br />b. $1,066,666 for furnishing and equipping a combined bus garage, <br />service garage and municipal administration building <br />and improving the site thereof - 10 years; and <br />c. The weighted average of the maximum maturities of bonds to be <br />issued for said several classes of improvements is 20 years. <br />Should you authorize a single bond issue for all of said classes, the <br />maximum maturity of said bonds could not exceed such weighted average of 20 <br />years; provided that if notes in anticipation of such bonds are outstanding <br />for a period in excess of five years from the date of the original issue, the <br />period thereof in excess of five years shall be deducted from such maximum <br />maturity of said bonds. <br />3. The maximum maturity of any notes issued in anticipation of such <br />bonds is ten years, if sold publicly, or one year, if such notes are sold at <br />private sale. <br />Director of Finance <br />City of North Olmsted, Ohio