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delivered, shall be $2 , 055, 000, which shall not cause the City to <br /> exceed any statutory debt limits. <br /> Section 8 . Lease Not an Arbitrage Bond. The City hereby <br /> certifies that on the basis of the facts, estimates and <br /> circumstances in existence on this date, it is not expected that <br /> the Improvements will be used in a manner that would cause the <br /> Amended and Restated Lease or any certificates of participation <br /> therein to be "arbitrage bonds" under Section 148 of the United <br /> States Internal Revenue Code of 1986, as amended, and all <br /> regulations relating thereto. The City covenants that it will <br /> comply with said Section 148 and the regulations thereunder in <br /> effect from time to time, as long as the Amended and Restated Lease <br /> remains outstanding. <br /> The City covenants that it will not take any action or permit <br /> any action to be taken that would cause the Lease authorized <br /> hereunder to constitute a private activity bond under Section 141 <br /> of the United States Internal Revenue Code of 1986, as amended. <br /> Section 9. Ratification of Past Acts. All actions <br /> heretofore taken by city officers, staff, and agents consistent <br /> with the terms and purposes of this Ordinance are hereby ratified, <br /> -7- K:\KR\17863-00.005\25ORDINA.12H <br />