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Home My Public Portal About04-17-2000 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,APRIL 17,2000 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,April 17,2000 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 The minutes of the April 3,2000 meeting were not available. 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 Wissel and the motion was carried by voice vote. Bills Already Paid: Payroll and Deductions $233,438.33 Investments Purchased From: Cash Operating Fund Bond Sinking Fund Utility Bond Reserve Fund Depreciation Reserve Fund Insurance Reserve Fund Consumer Deposit Fund Cash Reserve Fund Group Insurance Fund Total Investments 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 Sliking 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 $ 67,478.20 Total Prepaid Invoices 300,916.53 Total EFT/Direct Deposit of Payroll: (71,089.36) Total Prepaid.Invoices: 229,827.17 Total EFT Transfers: 73,602.52 Total Prepaids plus EFT Transfers: 303,429.69 Total Bills Not Paid: 338,821.75 Grand Total of Bills to be approved: $ 642,251.44 RP&L Minutes Cont'd April 17,2000 Page 2 REMARKS BY CHAIRPERSON Chairperson Welch said he had no comments. UNFINISHED BUSINESS As an update,Chairperson Welch stated that at the last two meetings of this Board it was decided to sell the RP&L property on Williamsburg Pike and indicated that they would do it under private sale by bids,accepting offers to purchase.City Attorney Bob Bever said for the latest solicitation for offers,the Board chose to break it into three different tracts of 18.1, 14 and 8.428 acres. Bever said offers were made on all three,however,the 18.1 did not come up to the full-appraised value.He said the offer on the 8.428 was for$63,750,which was the full-appraised value.The 14 acres initially did not,but when told what it would have to be for the appraised price,Malcolm and Terry Ferrell submitted an offer for$105,050 for the 14 acre tract.Bever explained that the appraisal was done for$304,000 which,when using the total of 40.528 acres comes out to$7,501 per acre. He said they have not heard back from the FHS Partners LLC,an Indiana Liability Co.,which has put in an offer of $63,750 for the 8.428 acres.He said they have not heard back from the third one,which was$14,000 short.He said their offer came in at$121,000 but because of it being 18.1 acres you can only accept something at least equal to $135,800.Options are,he said,the Council can act upon these two,or it can hold them to see if anybody else submits an offer,or it can wait to see if anything happens on the third tract. Councilmember Hutton moved to approve the two purchase agreements,second by Councilmember Parker.In answer to question by Councilmember Wissel,Bever said it has not been resurveyed for the three tracts,which makes it a little tricky on how these are read.Basically,he said,the 8.428 is shown as Purina Lab option,abutting Progress Drive;the other one, 14 acres,is the one furthest north;and the 18.1 acres abuts both Progress Drive and Williamsburg Pike. Bever said it shows 5.3,5.6,2.4,2.5 and 1,adding that the frontage is toward Williamsburg Pike.Wissel said that was his concern,as to whether or not it had frontage.Bever said it has frontage on both streets,adding that they still do not have the new surveys completed in the new formulation and the title search.The vote on the motion was unanimous on the roll call STREET LIGHT COMMITTEE REPORT Councilmember Elstro reported that he had a request from the City Engineer's office for a total of 17 lights,adding that 10 of the lights would be on U.S.40 on the new bridge and those would be decorative lights.He said the other 7 would be on the approach and they would be the big aluminum lights.He said the total cost would be$196.32 per month.He said he would give a copy of the request to the other two members of the streetlight committee and after they discuss it and it passes through the committee it will go to the Board of Works. REPORT BY GENERAL MANAGER General Manager David Osburn said they were going to open the bids on the construction of the containment dikes but unfortunately they had neglected to advertise those bids.He requested that this be held until the next meeting after they have been properly advertised.Councilmember Elstro moved to postpone the opening of those bids,second by Councilmember Sharp and the motion was carried on a voice vote. Osburn said that on the recent IMPA Board meeting they authorized IMPA to join the Energy Authority,which he said he feels is an excellent move for IMPA to take. He said the Energy Authority is a power marketer broker established by three large public power systems in Florida,Georgia and South Carolina.He said they have very good risk management procedures in place,and other utilities have joined them and they cover a broad area in the country now with access to pricing information throughout the greater part of the U.S. He said by IMPA joining them now,it will become a part of an organization which has about 15,000 megawatts of resources fur its use.He said with this excess power,IMPA could use this energy authority to find buyers who are many,many states away.He said they hope to have the contracts in place by this summer. He said the 32 municipal utilities in Indiana have a cooperative joint effort with IMPA to make them look bigger in Indiana and what this does is take it to a national level.He said it is pooling resources and he thinks that is a smart move. Osburn announced that RP&L's I.S.manager Ron Lind is leaving the utility and tomorrow is his last day.He said they have hired a new I.S.manager who is Randy Baker who is the person they hired under contract to help with the replacement of the C.I.S.system and the billing system.He said he has done a very good job on that project and it is nice to bring someone on board who knows something about the system,and he is a Richmond native which means that,hopefully,he will want to stay around for awhile. NEW BUSINESS There was none. RP&L Board Minutes Cont'd April 17,2000 Page 3 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