HomeMy Public PortalAbout05-04-1998 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,MAY 4,1998
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,May 4, 1998,in the Council Chambers in the
Municipal Building in said City.Chairperson Larry Parker presided with the following Councilmembers in attendance: •
Howard"Jack"Elstro,Etta Lundy,Bob Dickman,Sarah"Sally"Hutton,Geneva"Gene"Allen,Dennis R.Rice Sr.,
Bing Welch and Bruce Wissel.The following business was conducted:
APPROVAL OF MINUTES
The minutes of the meeting of April 20 and April 27, 1998,were approved on a motion by Councilmember Hutton,
second by Councilmember Wissel 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 222,264.36
Investments Purchased From:
Cash Operating Fund 600,000.00
Bond Singing Fund
Utility Bond Reserve Fund
Depreciation Reserve Fund 91,000.00
Insurance Reserve Fund
Consumer Deposit Fund
Cash Reserve Fund 171,385.00
Group Insurance Fund
Total Investments 862,385.00
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 195,166.74
Total Prepaid Invoices 1,278,816.10
Less EFT/Direct Deposit of Payroll (55,232.31)
Total Prepaid Invoices 1,224,583.79
Total EFT Transfers 529,096.57
Total Prepaids plus EFT Transfers 1,753,680.36
Total Bills Not Paid 528.239.49
Grand Total of Bills to be Approved 2,281,919.85
RP&L Minutes Cont'd
May 4, 1998
Page 2
REMARKS BY CHAIRPERSON
Chairperson Parker said he had no remarks.
UNFINISHED BUSINESS
There was none.
STREET LIGHT COMMITTEE REPORT
Councilmember Elstro said he had received a communication from RP&L dated April 27, 1998,in which it was stated
that it would be a four-to six-week waiting period until the work would begin of putting in the street lights in Oak
Park,Woodgate and Backmeyer Trace subdivisions.
REPORT BY GENERAL MANAGER
General Manager David Osbum said the rebuild of Unit No. 1 has gotten off to a slow start,but that should not
interfere with getting the work done in record time.In answer to a question by Chairperson Parker,Osbum said the
estimate of the cost of the project is around$50,000 to$100,000.
Councilmember Allen commented that she was appreciative of receiving the minutes of the April 27, 1998 meeting at
RP&L in the mail,adding that she feels it will be beneficial to them,as Board members,to have them in hand prior to
the next meeting at RP&L.
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 IT EST:
Norma Schroeder,Clerk