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` . . <br /> , . '� <br /> . • <br /> any fund or account in connection with the Bonds, whether or not such moneys were derived <br /> from the proceeds of the sale of the Bonds or from any other source, will not be used in a <br /> manner which will cause the Bonds to be "arbitrage bonds" within the meaning of Code <br /> Section 148 and any lawful regulations promulgated thereunder, as the same presently exist <br /> or may from time to time hereafter be amended, supplemented or revised. <br /> Section 16. Registered Form. The City recognizes that Section 149 of the Code <br /> requires the Bonds to be issued and to remain in fully registered form in order to be and <br /> remain Tax-exempt. In this connection, the City agrees that it will not take any action to <br /> permit the Bonds to be issued in, or converted into, bearer or coupon form. <br /> Section 17. Further Tax Covenants. The City agrees to comply with all provisions <br /> of the Code which, if not complied with by the City, would cause the Bonds not to be Tax- <br /> exempt. In furtherance of the foregoing provisions, but without limiting their generality, the <br /> City agrees: (a) through its officers, to make such further specific covenants, representations <br /> as sha11 be truthful, and assurances as may be necessary or advisable; (b) to comply with all <br /> representations, covenants and assurances contained in certi�cates or agreements as may be <br /> prepazed by counsel approving the Bonds; (c) to consult with such counsel and to comply <br /> with such advice as may be given; (d) to file such forms, statements and supporting <br /> documents as may be required and in a timely manner; and (e) if deemed necessary or <br /> advisable by its officers, to employ and pay fiscal agents, financial advisors, attorneys and <br /> other persons to assist the City in such compliance. <br /> Section 18. Qualified Tax-exempt Obligations. The City recognizes the provisions <br /> of Section 265(b)(3) of the Code which provide that a "qualified tax-exempt obligation" as <br /> therein defined may be treated by certain financial institutions as if it were acquired on <br /> August 7, 1986, for certain purposes. The City hereby designates each of the Bonds as may <br /> -31- <br />