HomeMy Public PortalAbout11-03-2008 PROCEEDINGS OF THE COMMON COUNCIL OF THE
CITY OF RICHMOND, INDIANA, SERVING AS A BOARD
IN CHARGE OF THE OPERATION OF THE RICHMOND POWER & LIGHT PLANT
MONDAY, NOVEMBER 3, 2008
The Common Council of the City of Richmond, Indiana, serving as a Board in charge of the operations of
the Richmond Power & Light Plant met in regular session at 7 p.m. November 3, 2008 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.
APPROVAL OF MINUTES:
Board member Parker moved to approve the minutes of the meeting held October 20, 2008, supported by
Board member Pappin. Upon a vote viva voce,the motion passed.
APPROVAL OF BILLS, INVESTMENTS AND TRANSFERS:
Upon recommendation of the Finance Committee, Board member Pappin moved to approve the following
bills for payment, supported by Board member Quinn. Upon a vote viva voce,the motion passed.
Bills Already Paid:
Payroll and Deductions 323,177.13
Investments Purchased From:
Depreciation Reserve Fund 5,990,000.00
Consumer Deposit Fund 430,000.00
Insurance Reserve Fund 1,321,000.00
Bond Reserve Fund 400,000.00
Transfers from Cash Operating to:
Miscellaneous Prepaid Invoices 182,187.01
Telecom. Div. Misc. Pre Paid Invoices: 47,720.89
EFT/Direct Deposit of Payroll: (127,691.28)
EFT Transfers: 387,618.26
Total Bills Not Paid: 676,207.53
Grand Total: $9,630,219.54
STREET LIGHT COMMITTEE: Board member Parker presented a petition for street lights in the new
Nicholson Addition on the west side of Richmond. The Petition will be forwarded to the RP&L
Engineering Department for review.
OLD BUSINESS:
■ LANDFILL GAS PROJECT:
General Manager Steve Saum recommended the contract for gas wells at the Landfill be
awarded to Fox Contractors in the amount of $216,810. The 2008 budget for this project is
$125,000. Mr. Saum suggested the balance be provided for in the 2009 budget.
Board member Wissel moved to approve Mr. Saum's recommendation, supported by Board
member Elstro. Upon a vote viva voce, the motion passed.
■ PARALLAX:
Mr. Rich Cody presented the business analysis for Parallax. The consensus was to adjust the
interest for the Richmond Power& Light loan to reflect the market trend for the year. Buzz Krohn
of O.W. Krohn &Associates will be called upon to devise a formula.
The business plan should be ready to implement in 2009.
NEW BUSINESS:
None
REPORT BY GENERAL MANAGER:
■ The Legislative Rally in Washington, D.C. will be February 23-26, 2009. Mr. Saum needs
confirmation for room reservations.
• The Indiana Municipal Power Agency will host its legislative session in Indianapolis on February
18, 2009.
RP&L—Board of Directors Minutes
November 3,2008
Page 2
• The visit to Prairie State is scheduled for November 6, 2008.
• A memo from Board member Pappin with questions regarding the 2009 budget was distributed to
the Board. These will be addressed at the Budget meeting.
• The proposed CO2 emissions legislation (Cap and Trade Bill) was presented to the Board for
review.
MISCELLANEOUS BUSINESS:
None
ADJOURNMENT:
There being no further business and a motion duly made, the meeting was adjourned.
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ATTEST: Karen Chasteen, Clerk