ANAHEIM

The City Council today will consider new financing for the Pond that would help offset the losses of its operator and relieve Anaheim’s financial liability since no basketball team plays at the city-owned arena.

Under an agreement with Ogden Corp., the city is obligated to pay the company $1.5 million a year for five years unless a National Basketball Assn. team moves in. The city already has paid $3 million of the $7.5-million obligation--without using general fund money, Finance Director William G. Sweeney said. Since 1994, Ogden has lost about $4 million to $5.5 million each year, city officials said.

With the proposed financing, Sweeney said $11 million to $12 million would be generated. The city would be able to pay its remaining $4.5-million obligation and Ogden would get between $7 million and $8 million to offset its operating costs, he said.

The meeting begins at 5 p.m. in council chambers, 200 S. Anaheim Blvd. Information: (714) 765-5166.