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Internal Revenue Code of 1986, as amended (the "Code"), and the related regulations of the Treasury Department proposed or in effect at the time of such, use and applicable to obligations issued on the date of issuance of the Note. The City further covenants that it will not take any action or permit any action to be taken or omit to take any action or permit the omission of any action reasonably within its control which action or omission will cause the Note to become an "arbitrage bond" within the meaning of Section 148(a) of the Code, which will cause the Note to be subject to treatment under Section 141(a) of the Code as a "private activity bond," or which will cause the interest on the Note to become subject to Federal income taxes pursuant to the provisions of Section 103(a) of the Code. Section 6. The loan to City of the Project Funds by Bank and the City's issuance of the Note are hereby approved. Section 7. The City Manager and Mayor are hereby authorized to enter into the Loan Agreement, the Pledge Agreement, the Note and a non-arbitrage certificate in substantially the form of Exhibit F with such changes thereto as shall be desirable to carry out the purposes of the Plan and this Ordinance. Such persons are hereby authorized and directed to take any and all actions and to execute and deliver for and on behalf of the City and all additional certificates, documents, agreements or other instruments as. may be necessary, desirable, convenient, or proper in order to carry out the matters herein authorized. Section 8. The City Council hereby approves, ratifies and confirms all acts heretofore taken by the Mayor and the City Manager in connection with the implementation of the Plan. Section 9. This Ordinance shall be in full force and effect after the date of its passage and approval as provided by law. PASSED and APPROVED this ~0T~~of February,_ 1992. J . e ~tM~aj~r ATTEST: City Clerk CERTIFIED TO BE CORRECT AS TO FORM STL-79015 - 4 -