HomeMy Public PortalAbout06-06-2005 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
MONDAY, JUNE 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. Monday, June
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 Wissel moved to approve the minutes of the
meeting held May 16, 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 282,363.81
Transfers from Cash Operating to:
Miscellaneous Prepaid Invoices 167,284.61
Telecom. Div. Misc. Pre Paid Invoices: 10,167.38
Total Prepaid Invoices: 459,815.80
Total EFT/Direct Deposit of Payroll: (99,231.19)
Total Prepaid Invoices: 360,584.61
Total EFT Transfers: 1,735,424.73
Total Prepaids plus EFT Transfers: 2,096,009.34
Total Bills Not Paid: 1,057,812.61
Grand Total: $3,153,821.95
STREET LIGHT COMMITTEE: None
REPORT BY GENERAL MANAGER:
• General Manager, Dave Osburn, requested authorization to seek bids for a power
transformer for the Johnson Street substation. Replacement of this unit has been
budgeted for 2006 but there is a lead time of six months so it would be prudent to begin
the purchase process now. The estimated cost is $500,000. The 2006 budget includes
$250,000 for this transformer so the budget will be modified in August 2005. Board
member Wissel moved to authorize the General Manager to receive bids for a Large
Power Transformer for the Johnson Street substation with a second by Board member
Parker. The motion carried with a unanimous voice vote.
• Mr. Osburn suggested the Board consider financing several planned projects rather than
"pay-as-you-go". The maximum amount to be borrowed would be $3.5 million over 10
RP&L—Board of Directors Minutes
June 6,2005
Page 2
years. To discuss this further, the Board scheduled a special meeting on June 27, 7 PM
at Richmond Power and Light.
• Mr. Osburn reminded the Board there will be a trip to an IMPA dinner/presentation on
July 25.
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