HomeMy Public PortalAbout12-06-2010 PROCEEDINGS OF THE BOARD OF DIRECTORS
FOR RICHMOND POWER & LIGHT
DECEMBER 6, 2010
The Board of Directors for Richmond Power & Light Plant met in regular session at 7 p.m. December 6,
2010 in the Council Chambers in the Municipal Building in said City. Chairperson Welch presided.
ROLL CALL:
Present were: Howard "Jack" Elstro, Kelley Cruse-Nicholson, Bruce Wissel, Clayton Miller, Bing Welch,
Larry Parker, Diana Pappin, Bob Goodwin and Phil Quinn.
Also present were: Steve Saum, General Manager; Walt Chidester, City Attorney; Karen Chasteen, City
Clerk
APPROVAL OF MINUTES:
Mr. Parker moved to approve the minutes of the meeting held November 15, 2010, supported by Mr.
Quinn. Upon a vote viva voce, the motion passed.
APPROVAL OF BILLS, INVESTMENTS AND TRANSFERS:
Upon recommendation of the Finance Committee, Ms. Pappin moved to approve the following bills for
payment, supported by Mr. Goodwin. Upon a vote viva voce, the motion passed.
Bills Already Paid:
Payroll and Deductions 310,863.05
Transfers from Cash Operating to:
Miscellaneous Prepaid Invoices 835,500.80
Telecom. Div. Misc. Pre Paid Invoices: 61,536.68
EFT/Direct Deposit of Payroll: 121,900.04
EFT Transfers: 275,319.87
Total Bills Not Paid: 383.062.12
Grand Total: $1,744,382.48
STREET LIGHT COMMITTEE: None
OLD BUSINESS:
• BID AWARD: Mr. Parker moved to award the bid on a new dump truck for the Line Department
to Selking International in the amount of Sixty Six Thousand Two Hundred Sixty One Dollars
($66,261) which includes a trade in the amount of Seventeen Thousand Five Hundred Dollars
($17,500). The motion was supported by Ms. Pappin. Upon a vote viva voce, the motion passed.
NEW BUSINESS:
• STOREROOM CONSTRUCTION: Mr. Wissel moved to authorize the General Manager to
receive bids on constructing a new storeroom building as approved in the budget, supported by
Mr. Parker. The motion passed with a 9-0 roll call vote.
• RESOLUTION NO. 7-2010: This Resolution would authorize Richmond Power & Light to enter
into a Build, Operate, Transfer Agreement with Cate Street Capital, Inc. which is the entity that
intends to provide capital for the financing of a 23 MW MSW Technology power plant to be
located at the RP&L power generating facility,
Mr. Elstro moved to adopt Resolution No. 7-2010, supported by Ms. Cruse-Nicholson. The
motion passed with a 9-0 roll call vote.
• CATE STREET CAPITAL MEMORANDUM OF UNDERSTANDING between RP&L and Cate
Street Capital, Inc. and its affiliates (CSC) for the development of MSW Technology to power a
facility to be located at RP&L.
Mr. Quinn moved to accept the MOU as presented, supported by Ms. Cruse-Nicholson. The
motion passed with a 9-0 roll call vote.
REPORT BY GENERAL MANAGER:
• Received a report from the Indiana Utility Regulatory Commission re litigation re Tree Trimming.
It is not binding to municipalities.
• The Indiana Municipal Power Agency rate comparison was distributed to the Board.
• There has been generation at Unit No. 1. Unit No. 2 went on line December 6. Low sulfur coal
will be used in the week.
RP&L—Board of Directors Minutes
December 6,2010
Page 2
MISCELLANEOUS BUSINESS: None
ADJOURNMENT:
There being no further business and a motion duly made, the meeting was adjourned.
Bing Welch, Chairperson
ATTEST: Karen Chasteen, IAMC, MMC
City Clerk