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December 6, 2013
The Dispatch/Maryland Coast Dispatch
Page 17
Blue Angels To Return In 2015
By SHAWN J. SOPER
NEWS EDITOR
OCEAN CITY – After being grounded for many of its show appearances last year, the U.S. Navy Blue Angels are back in business this year and announced they are scheduled to appear at the Ocean City Air Show in 2015 during an air convention in Las Vegas this week. This fall, the Pentagon announced it was reinstating the Blue Angels, the U.S. Air Force Thunderbirds and other military demonstration units after grounding the teams last year due to federal budget cuts related to sequestration. The Blue Angels were scheduled to appear at the Ocean City Air Show last June but were forced to cancel when the team and other military demonstration units were shut down due to federal budget cuts. However, with the shutdown lifted, the Blue Angels and other military teams are patching together their schedules for 2014 and beyond this
week at the International Council of Air Shows Convention in Las Vegas this week. The Blue Angels plan their air show stops and other appearances on a two-year cycle. The last cycle was scheduled in 2012, meaning their plans for 2013 and 2014 are already in the books. However, the Blue Angels this week officially released its schedule for 2015 and the Ocean City Air Show, set for June 13-14 in 2015 is on the prestigious team’s calendar. Other military demonstration teams, including the Thunderbirds, are currently putting their schedules together for 2014 and beyond now that the shutdown has been lifted. However, it is uncertain if the Thunderbirds will make an appearance in Ocean City this year or next. “We do know we will be performing in 2014, but our specific schedule is still coming together,” an Air Force spokesman told The Dispatch on Thursday. “I suspect we will have more information in the coming days.”
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OCSees Bond Rating Improve Again
By SHAWN J. SOPER
NEWS EDITOR
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OCEAN CITY – On the eve of its latest bond sale, a $12.7 million sale of general obligation bonds to finance among other things the Performing Arts Center and the new Beach Patrol headquarters, the town of Ocean City got another dose of fiscal good news with the announcement of an upgrade in the resort’s bond rating from another rating agency. In November, Fitch raised Ocean City’s bond rating to AA-minus, representing an upgrade over its prior designation. This week, Standard and Poor’s nudged the resort’s designation even higher to a straight AA rating just days before it entered the bond market for the sale of $12.7 million in general obligation bonds. According to Standard and Poor’s, Ocean City’s newest bond
rating is based on the town’s strong wealth and income indicators, very strong budgetary flexibility, strong budgetary performance with a diverse revenue stream and very strong cash reserves to cover debt and expenditures. “The stable outlook reflects Standard and Poor’s opinion of what it considers the town’s strong financial management practices and the view that the town will likely continue to make the necessary adjustments to keep expenditures in line with revenue.” At Wednesday’s EDC meeting, Ocean City Councilwoman Mary Knight gushed about the latest rating. “It’s really amazing for a resort town,” she said. “While so many resorts are seeing their bond ratings downgraded, we continue to see ours improve, despite what the naysayers are saying.”
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