HomeMy Public PortalAbout10-02-2000 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,OCTOBER 2,2000
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,October 2,2000 in the Council Chambers in
the Municipal Building in said City.Chairperson Bing Welch presided with the following Councilmembers in
attendance:Howard"Jack"Elstro,Etta J.Lundy,Bruce Wissel,Karl Sharp,Larry Parker,Paul Combs,Phil Dickman
and Sarah"Sally"Hutton.The following business was conducted:
ROLL CALL
Nine present.
APPROVAL OF MINUTES
Minutes of the September 18,2000 meeting were approved on a motion by Councilmember Hutton,second by
Councilmember Parker and were carried on a voice vote.
APPROVAL OF BILLS,INVESTMENTS AND TRANSFERS
Upon recommendation of the Finance Committee,Councilmember Hutton moved to approve the following bills for
payment,seconded by Councilmember Combs and the motion was carried by voice vote.
Bills Already Paid:
Payroll and Deductions July 21 and Aug.4 $243,121.59
Investments Purchased From:
Cash Operating Fund 900,000.00
Bond Sinking Fund
Utility Bond Reserve Fund
Depreciation Reserve Fund 3,719,795.11
Insurance Reserve Fund,
Consumer Deposit Fund
Cash Reserve Fund 1 81,875.00
Group Insurance Fund
Total Investments $243,121.29
Transfer from Cash Operating Fund to:
Cash Reserve Fund for Payment
To City in lieu of taxes
Transfer from Cash Operating Fund to:
Depreciation Reserve Fund
For Property&Plant
Transfers from Depreciation Reserve to:
Cash Operating Fund
Transfers from Consumer Deposit to:
Cash Operating Fund
Transfers from Utility Bond Reserve Fund to:
Bond Sinking Fund
Transfers from Cash Operating to:
Interest and Bond Principal
Bond Sinking Fund
Cash Reserve Fund
Utility Bond Sinking Fund
Depreciation Reserve Fund .
Insurance Reserve Fund
Consumer Deposit Fund
Interest and Bond Principal
End of Month Petty Cash
Revenue Bonds
Interest Coupons Redeemed
Interest Coupons Redeemed
Bond Coupons
Miscellaneous Prepaid Invoices $ 145,055.92
Total Prepaid Invoices 5,189,847.62
Total EFT/Direct Deposit of Payroll: (77,623.29)
Total Prepaid Invoices: 5,122,224.33
Total EFT Transfers: 2,074,589.36
Total Prepaids plus EFT Transfers: 7,186,813.69
Total Bills Not Paid: 754,740.07
Grand Total of Bills to be approved: $7,941,553.76
RP&L Minutes Cont'd
October 2,2000
Page 2
REMARKS BY CHAIRPERSON
Chairperson Welch asked General Manager David Osburn about scheduling the two meetings mentioned at the last
Board meeting.After a brief discussion,Osbum said he would have to get back with the Board members about re-
scheduling the first of the two.
UNFINISHED BUSINESS
There was none.
STREET LIGHT COMMITTEE REPORT
Councilmember Elstro said there was no report.
REPORT BY GENERAL MANAGER
General Manager David Osburn invited to the podium Jim Hizer,director of Economic Development,who announced
that the Mid American Economic Development Council had bestowed an award upon the EDC.Hizer explained that
the brochure,which was funded by RP&L,was chosen from among those entering the competition as having the
finest promotional materials promoting the Midwest Industrial Park of any community promoting any industrial park or
building in all the Midwest,including the Great Lakes states.He thanked the utility for its commitment in helping EDC
to market the Industrial Park,adding that RP&L and IMPA had also funded the translation of the brochure into
German and Japanese.Hizer said this enhances EDC's ability to promote the Industrial Park not only here in the United
States but overseas as well.
Hizer also thanked the utility for its service throughout the Midwest Industrial Park,expressing his appreciation not
only of the help of Osbum,but also Harry Phillips and Jim Esary,representatives of RP&L.In response,Osbum
commented that he was grateful for the good working relationship that exists between the utility and EDC.
Hizer also expressed his appreciation for the fact that Osburn and Councilmember Sharp will be accompanying him to
Hellbom,German on a trip later this month,elaborating on the particulars of that jaunt.
Osburn request authorization of the Board to purchase$150,000 worth of SO 2 credits to ensure meeting the utility's
guidelines for the year 2000.He also said he wanted to clarify the answer he gave to Councilmember Wissel at the last
meeting,stating that there is another option off in the future to help meet some of the limits that the utility has,so far,
backed off on because of the cost.He said a lower sulfur coal can be burned and went into detail about all of the
particulars of choosing that option.However,he said,the most economical method now is to choose the allowances.He
said that according to the current projections this should take care of the utility's needs,but added that he may have to
come back to the Board at another time.He said the current market is running about$151 a credit and is holding pretty
steady.Councilmember Parker moved to authorize Osbum to purchase additional credits,second by Councilmember
Wissel and the motion was carried on a voice vote.
Osburn asked for authorization by the Board to purchase Cooling Tower Basin Curbing for$27,950.He explained that
the basins need a lot of work and repairs.Councilmember Wissel so moved,second by Councilmember Dickman and
the motion was carried on a voice vote.In answer to a question posed by Chairperson Welch,Osburn said the utility is
running a new line to provide a more reliable supply of electricity in the Midwest Industrial Park.
NEW BUSINESS
There was none.
ADJOURNMENT
There being no further business,on a motion duly made,seconded and passed,the meeting was adjourned.
Bing Welch,Chairperson
ATTEST:
Norma Schroeder,Clerk