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Council reviews malt‑beverage markup receipts; recommends continuation to fund park bond debt service
Summary
City staff presented the annual review of the 5% malt‑beverage markup, which has been used to repay a general obligation bond for Prentiss Park improvements; council moved to accept the report and continue the levy.
City staff presented the annual review of the malt‑beverage markup receipts required under local ordinance and recommended continuing the 5% markup to help repay the general‑obligation bond issued for Prentiss Park improvements.
Staff summarized collections history since the markup was adopted in 2015 and showed that proceeds have been applied to the park bond’s debt service; the markup has not covered full debt service in any year and second‑penny funds have supplemented the payments. For 2026 staff projected malt‑beverage markup receipts at about $150,000 compared with annual debt service of roughly $197,725.
Administration recommended continuing the 5% markup. A council motion accepted the report and continued the markup for the coming budget cycle; council discussion noted the item’s purpose is to ensure the bond is repaid and that a required annual public review occurs as part of the budget process.
The council approved a motion to continue the markup and closed public input on the topic; staff will use the markup as part of the debt service schedule for the Prentiss Park bond.
