HomeMy Public PortalAbout09-06-2005 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
TUESDAY, SEPTEMBER 6, 2005
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. Tuesday, September 6, 2005 in the
Council Chambers in the Municipal Building in said City. Chairperson Welch 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 Parker moved to approve the minutes of the meetings held
August 14 and 22, 2005. Board member Sharp 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 Klose. The motion carried with a voice vote.
Bills Already Paid:
Payroll and Deductions 286,197.08
Investments Purchased From:
Depreciation Reserve Fund 614,428.01
Transfers from Cash Operating to:
Miscellaneous Prepaid Invoices 199,608.36
Telecom. Div. Misc. Pre Paid Invoices: 57,742.97
Total Prepaid Invoices: 1,157,976.42
Total EFT/Direct Deposit of Payroll: (100,184.05)
Total Prepaid Invoices: 1,057,792.37
Total EFT Transfers: 1,979,543.53
Total Prepaids plus EFT Transfers: 3,037,335.90
Total Bills Not Paid: 1,048,472.50
Grand Total: 4,085,808.40
STREET LIGHT COMMITTEE: None
REPORT BY GENERAL MANAGER:
• General Manager Osburn presented the Proof of Publication to receive bids for the Large Power
Transformer for the Johnson Street Substation.
• Board member Parker moved to award the bid for the Large Power Transformer for the Johnson
Street Substation to Waukashaugh in the amount of $580,200 contingent upon approval of the
proposed financing.
• Board member Wissel moved to authorize the General Manager to retain the firm of Ice Miller to
serve as bond counsel for Richmond Power & Light's financing. The estimated cost of retaining
Ice Miller is $10,000. The financing will be in the amount of$3.5 million. There was a second by
Board member Parker. The motion carried with a unanimous voice vote.
• There will be a work session on September 26 at the RP&L Service Building at 7 PM.
• Mr. Osburn distributed copies of the 2005 Customer Satisfaction Survey.
• He also provided copies the RFP—Whitewater Valley Station Production Analysis and Strategy.
RP&L—Board of Directors Minutes
September 6,2005
Page 2
• Re the Highland Road Substation Construction - there is a house and a billboard that are REMC
customers near the site. RP&L would like to take over those services and will file a request with
the IURC. This will be discussed further at the next meeting on September 19.
• Re Gasoline prices—suppliers do not anticipate shortages; however, there will be an increase in
diesel and gasoline costs of 50%. Mr. Osburn is reworking the budget figures. He suggested
investigating the purchase of hybrid vehicles in the future.
• APPA has reported very few problems with restoring power to the area affected by Hurricane
Katrina. At this time it is not necessary to send RP&L crews to help.
ADJOURNMENT:
There being no further business, the meeting was adjourned.
S/S Bing Welch
Bing Welch, Chairperson
S/S Karen Chasteen
ATTEST: Karen Chasteen, Clerk