HomeMy Public PortalAbout02-06-2006 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, FEBRUARY 6, 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, February 6, 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 and Diana Pappin. Absent was Gil Klose.
APPROVAL OF MINUTES: Board member Wissel moved to approve the minutes of the meetings held
January 16 and 23, 2006. Board member Pappin seconded. 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 Sharp. The motion carried with a voice vote.
Bills Already Paid:
Payroll and Deductions 289,788.14
Investments Purchased From:
Depreciation Reserve Fund 624,731.97
Transfers from Cash Operating to:
Miscellaneous Prepaid Invoices 268,393.66
Telecom. Div. Misc. Pre Paid Invoices: 49,114.59
Total Prepaid Invoices: 1,232,028.36
Total EFT/Direct Deposit of Payroll: _ (103,355.43)
Total Prepaid Invoices: 1,128,672.93
Total EFT Transfers: 3,153,069.56
Total Prepaids plus EFT Transfers: 4,281,742.49
Total Bills Not Paid: 454.481.03
Grand Total: $4,736,223.52
STREET LIGHT COMMITTEE: None
MISCELLANEOUS BUSINESS:
• Mr. Osborn opened the bids from the following firms for miscellaneous equipment for the
Highland Road substation:
Mead City Power Supply Hanby Young
B &S Schuler Engineering Page Electric
National Power Mitsubishi Electric
Brownstown Electric
Board member Sharp moved to refer the bids to the General Manager for evaluation, tabulation
and recommendation with a second by Board member Pappin. The motion carried with a
unanimous voice vote.
• Rich Cody, Parallax, requested approval for Parallax to file three new Fiber Optic rates with the
IURC. Board member Wissel moved to approve the filing with a second by Board member
Welch. The motion carried with a unanimous voice vote.
• Mr. Cody also requested authorization to increase the Parallax marketing budget by $16,365.
The goal of a new marketing campaign is to add 240 customers which means increased revenue
of approximately$130,000. Board member Welch moved to approve the increase in the Parallax
marketing budget in the amount of$16,365 with a second by Board member Sharp. The motion
carried with an 7-1 voice vote. Board member Pappin dissented.
RP&L—Board of Directors Minutes
February 6,2006
Page 2
REPORT BY GENERAL MANAGER:
• General Manager Dave Osborn, reported that bonds in the amount of $3.3 million were sold to
First Bank Richmond. The interest rate is 3.78%.
• Mr. Osborn will be scheduling the in-house seminar re power supply issues in March. Board
members will be notified.
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