2025-031 Ordinance - Laserfiche WebLink

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2025 VUW and P Immm n Obhrnv Nu To tle Council of the City ofNadh Olmsted, Ohio: As fiscal officer of the City of North Olmsted, I certify in connection with your proposed issue of notes (the Notes) in an aggregate principal amount not to exceed 56,150,000, to be issued in anticipation of the issuance of bonds (the Bonds) to provide funds to pay costs of improving; the City's perks and recreational facilities, including tare Senior Center, by co ructing, walling, furnishing, equipping and improving basketball courts, baseball facilities, playgrounds, multi -purpose fields, trails, and parking lots, and otherwise improving parks and recreational facilifies, together with all necessary appurtenances thereto, and clearing, equipping and improving the sires thereof, that: 1. The catenated life or petted of puniness of each class of the improvements described above is at least five years. 2. The estinased m ournum rawrity of bonds to be issued for such purpose, calculated in accordance with Section 133.20 of the Revised Cade, is 26 years. That maimum mabuhy is based on my calcdation of the average number ofyeam of life or period ofuseful ms of the improvement as measured by the weighaol average of the amounts proposed to be expendud for the classes of the improvement as follows: $5,179,800 for municipal recreation, excluding recreational quipment, 30 Years: and $970,200 for recreational equipmm4 10 years; the weighted average is therefore 26 years Ifnotes in anticipation ofthe Bonds are outstanding later than the last day of December of the fiM year fallowing the year of issuance of the original issue of notes, the period in excess of rbose five years shall be deducted from that maximum mmmity of the Bonds. 3. The ma immn maturity of the Notes is June 25, 2044, which is 20 years from Juns 25, 2024, the date of issuance of de original notes issued for this purpose. Dated: Minch 18, 2025 Director of Finance City ofNorth OWste , Ohio