HomeMy Public PortalAbout11-16-1998 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,NOVEMBER 16,1998
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,November 16, 1998,in the Council Chambers
in the Municipal Building in said City.Chairperson Larry Parker presided with the following Councilmembers in
attendance:iHoward"Jack"Elstro,Robert Dickman,Sarah"Sally"Hutton,Geneva"Gene"Allen,Dennis R.Rice Sr.,
Bing Welch and Bruce Wissel.Etta Lundy was absent.The following business was conducted:
Councilmember Hutton moved to add Resolution 3—1998 to the agenda,second by Councilmember Wissel and the
motion was carried on a unanimous voice vote.
APPROVAL OF MINUTES
The minutes of the meeting of November 2. 1998,were approved on a motion by Councilmember Hutton,second by
Councilmember Welch and the motion was carried on a unanimous 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 Allen and by unanimous voice vote the motion was carried.
Bills Already Paid:
Payroll and Deductions 230,436.27
• Investments Purchased From:
Cash Operating Fund 700,000.00
Bond Sinking Fund
Utility Bond Reserve Fund
Depreciation Reserve Fund 91,000.00
Insurance Reserve Fund
Consumer Deposit Fund
Cash Reserve Fund 174,813.00
Group Insurance Fund
Total Investments 965,813.00
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 212,043.97
Total Prepaid Invoices 1,408,293.24
Less EFT/Direct Deposit of Payroll (63,334.93)
Total Prepaid Invoices 1,344,958.31
Total EFT Transfers: 366.238/79
Total Prepaids plus EFT Transfers: 1,711,197.10
Total Bills Not Paid: 484,094.90
Grand Total of Bills to be Approved: 2,195,292.00
RP&L Minutes Cont'd
November 16,1998
Page 2
REMARKS BY CHAIRPERSON
Chairperson Parker announced that after the Board's fourth Monday meeting,the committee that is doing the feasibility
study for the property development on the Williamsburg Pike will meet briefly.
UNFINISHED BUSINESS
There was none.
STREET LIGHT COMMITTEE REPORT
Councilmember Elstro had no report.
REPORT BY GENERAL MANAGER
General Manager David Osbum gave an update on environmental compliance,stating that he had read in the
newspaper that the Indiana Utility Regulatory Commissioner had issued a report to order electric utilities to prepare a
contingency plan for the year 2000.So far,Osburn said,the Commissioner has told everybody but the utilities.He said
in doing some research on what the utility is really supposed to do he found an article which stated that by December
15 the utilities are supposed to respond to a survey that was done,and RP&L has done that.He said in January the
IURC will issue compliance guidelines and timetables and RP&L will have to wait and see what those are.He told
Board members he would keep them up to date on this,adding that he feels RP&L is pretty well on schedule.
Osbum reminded the Board that there is a meeting Monday night on capital investment.
RESOLUTION NO.3—1998
A. Chairperson Parker read the resolution,explaining that it deals with the RP&L Board of Directors
amending the policy for medical insurance coverage.Reading it in its entirety,Chairperson Parker said
it is stated in the resolution that the coverage be made available for any member of the Board,their
spouses or dependents and require any voluntary participating director to pay his or her full premium
contribution to the plan.He said it also states that no contribution would be made by RP&L.He gave
as an example,figuring his age,which is 58,with his spouse,the cost would be$560 per month.
Councilmember Dickman moved for adoption,second by Councilmember Elstro and the motion was
carried on a unanimous voice vote.
NEW BUSINESS
There was none.
ADJOURNMENT
There being no further business,on a motion duly made,seconded and passed,the meeting was adjourned.
Larry Parker,Chairperson
A 1-I1,ST:
Norma Schroeder,Clerk