Aquarium board members say removing the construction debt and signing a new long-term management contract with Ripley Entertainment Inc. should bring a level of stability to the attraction. In the four years since it opened, the aquarium has had to lay off staff and take out loans to stay afloat. It finally went broke, prompting the city to take it over.

The aquarium will need to find ways to pay for maintenance and the creation and improvement of exhibits even after officials sign the new management contract. Ripley declines to sign a long-term deal as long as the debt is on the books.

Ripley, which owns and operates 46 attractions in 10 countries, began running the aquarium under a temporary, month-to-month contract in May after the previous management ran out of money and city leaders took over the aquarium. Ripley could finalize a five-year contract with the aquarium soon after the debt is erased.