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Section 8. All resolutions and ordinances in conflict herewith <br /> are, to extent of such conflict, hereby repealed. <br /> Section 9. The City hereby covenants that the City and its <br /> officers shall not take any action or fail to take any action with <br /> respect to the proceeds of any of the Warrants or any investment <br /> earnings thereon which would cause the Warrant or any of the Warrants. <br /> to be "arbitrage bonds" under the Internal. Revenue of 198.6, as. <br /> amended, (the "Code" ) , or would otherwise cause the interest: on the <br /> Warrant or any of the Warrants to cease to be excludable from gross. <br /> income for purposes of Federal income taxation; and the City <br /> Controller and all other appropriate officers are hereby authorized <br /> and directed to take any and all actions and to make and deliver any <br /> and all reports, filing and certifications as may be necessary or <br /> appropriate to evidence., establish or ensure such continuing <br /> exclusion of the interest on the Warrants. The City shall comply <br /> with the arbitrage rebate requirements under Section 148 of the Code <br /> to the extent applicable.. <br /> Section 10. This Ordinance shall be in full force and effect. <br /> from and after the time it has been passed by the City Common. <br /> Council, signed by the President of the. City Common Council, approved <br /> by the Mayor, and otherwise executed and delivered, in accordance with <br /> any and all laws pertaining hereto. <br /> AF <br /> Member of I' a "Common Council <br />