November 15, 2013 The Dispatch/Maryland Coast Dispatch Page 7 OCFiscal Outlook Called ‘Stable’ By SHAWN J. SOPER NEWS EDITOR OCEAN CITY – With the petition drive over Ocean City’s pending bond sale for the convention center expansion facing its deadline next Wednesday, a major ratings firm this week confirmed the resort’s economic outlook as “stable” and assigned a AA-minus rating to its general obligation bonds expected to be sold on the market early next month. Fitch Ratings on Wednesday issued a press release assigning an AA-minus rating to the town of Ocean City’s $12.7 million general obligation bond sale expected in early December. The proceeds of the bond sale will be applied to certain costs related to the construction of the Performing Arts Center inside the Roland E. Powell Convention Center, along with a new building for the Ocean City Beach Patrol, a new roof for the Public Safety Building, a new roof for the service center garage and an effluent disinfection system at the wastewater treatment plant. The bond sale, particularly the $8.47 million dedicated to cover the town’s portion of the construction of the new performing arts center inside the Convention Center, has been the subject of a heated debate in recent weeks and has led to the Ocean City Taxpayers for Social Justice group circulating a petition to halt the bond sale. The general obligation bonds are scheduled to go out for bid on Dec. 5. The petition needs 1,226 signatures of verified registered voters by Wednesday to be successful. According to the Fitch Ratings release, the town of Ocean City has scored well on a variety of economic indicators, resulting in a relatively high rating for the latest general obligation bond release. Among the areas identified as key rating drivers in the report are the seasonal tourism-based economy, historically strong fiscal management and a manageable debt burden. In terms of the tourism-based economy, the Fitch report suggests it can be viewed as both a positive and a negative. “The tourism sector remains a significant economic driver, vulnerable to economic cycles and contributing to seasonal employment fluctuations,” the report reads. “The rating is sensitive to shifts in fundamental credit characteristics including the town’s tourism-based economy. The stable outlook reflects Fitch’s expectation that such shifts are unlikely over the near to medium term.” According to the report, the tourism and hospitality industry is Ocean City’s leading employment sector at 37 percent with top emSEE PAGE 30 RESERVATIONS RECOMMENDED CALL 410-524-8202 OR BOOK ONLINE: WWW.OCFRESCOS.COM 82ND ST. & COASTAL HWY., OCEAN CITY OPEN EVERY DAY AT 4 P.M. We Are Closed Thanksgiving And Christmas Days Only DAILY: SUNSET SEATING SPECIAL 10% OFF REGULAR MENU ITEMS If Seated Before 5:30 p.m. PIZZA AND PROSECCO PARTY SUNDAY PINO’S VINO CLUB HOLIDAY APPETIZER PAIRING Tuesday, Dec. 10 6 p.m. • $30 Plus Tax & Gratuity $3 Glass Prosecco In The Lounge Only WINE NIGHT MONDAYS 1/2 Off Special Bottled Wine List TAPAS TUESDAY $5-$7 Tapas And $5-$7 Wines By The Glass In The Lounge Only Must RSVP CHOP LOVERS WEDNESDAY Veal Chop Parm $25.95 • Hand Pounded And Served With Penne Marinara LADIES NIGHT THURSDAY 1/2-Price Martini List 7-oz. Lobster Tail Francaise $14.95 FOOTBALL SPECIALS SAT.: 11AM-7PM SUN.: ALL DAY MON. & THUR.: 7PM-CLOSE $2.50 22oz. Keep The Cup Miller Lt., Bud Lt., Coors Lt. $6 3 Olives Bombs & $5 3 Olives Purple “Raven” ✘✫✷✵✧✤✺ All Day: $6 Burgers & Chicken Sandwiches ☛✬✧✤✺ ✘✷5✵✧✤✺ All Day: $7 Cheesesteaks 1/2 OFF Crab Dip & Buffalo Chicken Dip 75¢ Wings (min. of 8) $ $ 6 EACH 3 Jerk Chicken Tenders OR 4 Cheeseburger OR 4 Pulled Pork Sliders 1 BEERS ALL DAY Domestic Drafts, Bottles & Cans All Day: 3 For $3 Tacos $9 Crab Cake Sandwiches 10pm-2am JJ THE DJ $6 Jager Bombs ✗✤✶✷✧✤✺ 5-10pm: $14.95 Ribs & Crab Cake ✛5✧✱5✵✧✤✺ All Day: 1/2 OFF Big Salads & $9.95 Pot Roast 10pm-2am DJ WOOD ❏✾✼✼¤✬✯✵¤✠✤✱✦5¤✟✲✱✶5✵✶ 50+ TVs • 16 Drafts On Tap Game Room • Kids Menu MD Lottery • Party Trays Great Apparel Sale ✠✎¤✛✤❙¤x¤✷5✵✶¤✞✤✶5✱✧5✵ 9pm-2am $3 Craft & Import Drafts EVERY NIGHT! 8pm-Close *Except Tuesday* ✗✷✱✧✤✺ All Day: $5 Crushes 5-10pm: $11.99 4-Piece Fried Chicken Dinner HAPPY HOUR MONDAY-FRIDAY 4-7PM $1.85 Domestic Drafts $2.15 Domestic Bottles $2.25 Rail Drinks ✑✲✱✧✤✺ All Day: $9.95 Meatloaf Dinner 116th St. & Coastal Hwy., OC, MD 21842 410-723-2120 thegreeneturtle.com gtoc@thegreeneturtle.com facebook.com/originalgreeneturtle 6-8pm ✞✍¤✗5❙✺¤✞✬✱✪✲