HomeMy Public PortalAbout04-03-2006 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, APRIL 3, 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, April 3, 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 Welch moved to approve the minutes of the meetings held
March 20 and 31, 2006 with a second by Board member Sharp. The motion carried with a unanimous
voice vote.
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. The motion carried with a voice vote.
Bills Already Paid:
Payroll and Deductions" 288,389.65
Transfers from Cash Operating to:
Miscellaneous Prepaid Invoices 147,139.39
Telecom. Div. Misc. Pre Paid Invoices: 66,324.20
Total Prepaid Invoices: 501,853.24
Total EFT/Direct Deposit of Payroll: (104,119.77)
Total Prepaid Invoices: 397,733.47
Total EFT Transfers: 2,526,291.53
Total Prepaids plus EFT Transfers: 2,924,025.00
Total Bills Not Paid: 6 72.265.77
Grand Total: $3,596,290.77
STREET LIGHT COMMITTEE: None
MISCELLANEOUS BUSINESS:
RESOLUTION NO. 1-2006 — The City of Richmond and Richmond Power and Light entered into a
Promissory Note on November 12, 1996 for the City to borrow from RP&L $2,500,000 for the continued
operation of the former Carpenter site at 1100 Industries Road in Richmond. This property has
subsequently been sold. This Resolution would authorize the execution of a new Promissory Note which
would allow the City of Richmond to pay the balance of $1,001,099.50 which is the difference between
the borrowed amount and funds paid by the Buyer.
Board member Sharp moved to adopt resolution No. 1-2006 with a second by Councilor Welch. The
motion carried with a unanimous voice vote.
REPORT BY GENERAL MANAGER:
Mr. Osburn has been elected President of the IMPA Board.
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