There is no compound sentence here.
"In the 1980s the statue was restored for the 1986 centennial celebration," is a complex sentence.
There are three types of sentences in English grammar: Simple, complex, and compound.
A simple sentence has the most basic elements: a subject and a predicate (verb or phrasal verb).
It is an independent clause that provides a complete thought.
While a complex sentence consists of one independent and at least one dependent clause.
In the given sentence, there are two clauses: "In the 1980s' (dependent) and "the statue was restored for the 1986 centennial celebration" is an independent clause.
A compound sentence consists of two independent clauses.
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