HomeMy Public PortalAbout11-20-2006 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 20, 2006
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. Monday, November 20, 2006 in the
Council Chambers in the Municipal Building in said City. Chairperson Parker presided.
ROLL CALL: Present were: Howard "Jack" Elstro, Etta Lundy, Bruce Wissel, Karl Sharp, Bing Welch,
Larry Parker,Al Glover, Diana Pappin and Gil Klose.
APPROVAL OF MINUTES: Board member Sharp moved to approve the minutes of the meeting held
November 6, 2006. Board member Pappin seconded. 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 with a second by Board member Klose. Upon a vote viva voce, the motion passed.
Bills Already Paid:
Payroll and Deductions 299,537.50
Investments Purchased From:
Depreciation Reserve Fund 533,841.80
Insurance Reserve Fund 713,236.00
Consumer Deposit Fund 337,764.90
Total $1,584,842.70
Transfers from Cash Operating to:
Miscellaneous Prepaid Invoices 251,202.50
Telecom. Div. Misc. Pre Paid Invoices: 16,126.93
Total Prepaid Invoices: 2,151,709.63
Total EFT/Direct Deposit of Payroll: (112,807.50)
Total Prepaid Invoices: 2,038,902.13
Total EFT Transfers: 3,120,226.62
Total Prepaids plus EFT Transfers: 5,159,128.75
Total Bills Not Paid: 1,612,216.30
Grand Total: $6,771,345.05
STREET LIGHT COMMITTEE: None
NEW BUSINESS:
• RESOLUTION NO. 4-2006—A RESOLUTION APPROVING THE TRANSFER OF LAND
This Resolution would approve the transfer from the City of Richmond to Richmond Power and
Light the real estate known as the RP&L Johnson Street Sub-Station.
Board member Wissel moved to adopt Resolution No. 4-2006 with a second by Board member
Welch. Upon a vote viva voce, the motion passed.
• RESOLUTION NO. 5-2006—A RESOLUTION APPROVING THE GRANTING OF EASEMENTS
This Resolution would approve the granting of easements adjacent to the Johnson Street Sub-
Station for the effective management and operation of the Sub-Station.
Board member Welch moved to adopt Resolution No. 5-2006 with a second by Board member
Sharp. Upon a vote viva voce, the motion passed.
RP&L—Board of Directors Minutes
November 20,2006
Page 2
REPORT BY GENERAL MANAGER:
• Rates will decrease with the January, 2007 billings. The average savings for consumers will be:
average residential-10%; larger residential - 15-19%; Commercial-10-15%; and industrial-7-10%.
■ RP&L has entered into a 3-year coal contract. The coal will be shipped by rail.
• The Johnson Street transformer is in place and will be energized next week.
MISCELLANEOUS BUSINESS:
There will not be a meeting of the Board on Monday, November 27.
ADJOURNMENT:
There being no further business, the meeting was adjourned.
S/S Larry Parker
Larry Parker, Chairperson
S/S Karen Chasteen
ATTEST: Karen Chasteen, Clerk