HomeMy Public PortalAbout06-21-1993 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 21. 1993
1 The Common Council of the City of Richmond, Indiana, serving as a Board in charge of the operations of the
2 Richmond Power& Light Plant met in regular session at 7 p.m. Monday,June 21, 1993, in the Municipal Budding
3 in said City. Councilperson Brookbank presided with the following Councilmembers in attendance: Elstro, Lundy,
4 Donat, McBride, Parker,Allen,Dickman and Hutton. The following business was had to-wit:
5
6 APPROVAL OF MINUTES OF JUNE 7.1993
7
8 Councilmember McBride moved to approve the minutes of the previous meeting as prepared, seconded by
9 Councilmember Parker and on unanimous voice vote the motion was carried.
10
11 APPROVAL OF BILLS. INVESTMENTS AND TRANSFERS
12
13 Upon recommendation of the Finance Committee, Councilmember Allen moved to approve the following bills for
14 payment,seconded by Councilmember Dickman and on unanimous voice vote the motion carried.
15
16 Dills Already Paid
17 Payroll and Deductions 211,383.63
18
19
20
21 Investments Purchased From:
22 Cash Operating Fund 1,575,000.00
23 Bond Sinking Fund
24 Utilky Bond Rieserve Fund
25 Depreciation Reserve Fund 685,542.25
26 Consumer Deposit Fund
27 28
Cash Reserve Fund 105,247.50
Insurance Reserve Fund
29 Group Insurance Fund
30 Totallnvestrrrents 2,365,789.75
31
32
33 Transfer to City in Lieu of Taxes:
34
35 Small Business Development Center
36 In Lieu of Taxes:
37 Economic Development center
38 In Lieu of Taxes:
39
40 Transfer from Payroll Ded.to;
41 Cash Operating Fund
42
43 Transfers from Depreciation Reserve to:
44 Cash Operating Fund
45
46 Transfers from Consumer Deposit to:
47 Cash Operating Fund
48
49 Transfers from Utility Bond Reserve Fund to;
50 Bond Sinking Fund
51
52 Transfers from Cash Operating ;
53 Interest and Bond Principal
54 Bond Sinking Fund
55 Cash Reserve Fund
56 57
Utility Bond Sinking Fund
Depreciation Reserve Fund 91,000.00
58 Insurance Reserve Fund
59 Consumer Deposit Fund
60 Interest and Bond Principal
61 End of Month Petty Cash
62 Revenue Bonds
63 Interest Coupons Redeemed
64 Bond Coupons
65 Miscellaneous Bills Already Paid 100,398.88
Total Prepaid Invoices 2,768,572.26
Total Bills Not Paid 704,753.16
Grand Total 3,473,325.42
RP&L Minutes Cont'd
June 21, 1993
Page 2
1 REMARKS BY THE CHAIRPERSON
2
3 None
4
5 UNFINISHED BUSINESS
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7 None
8
9 STREET LIGHT COMMITTEE REPORT
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11 None
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13 REPORT BY GENERAL MANAGER
14
15 General Manager Irving Huffman commented about the feedback that was being received from the microphones,
16 suggesting that someone take a look at the audio system to see if the problem could be corrected. Huffman noted
17 the opening of bids for the digger derrick had appeared in a legal notice in the Palladium-Item newspaper on June
18 10 and June 17. Councilmember Dickman moved to accept the proof of publication,second by Councilmember
19 Hutton and the motion was carried by a unanimous voice vote.
20
21 Before opening the bids, Huffman stated that the outer envelopes had been opened but assured the bidders that
22 no figures had been revealed.He commented that in receiving past bids it had been stipulated that the outside
23 envelope was supposed to be marked, noting the contents of the sealed envelope. However, he noted that the
24 bidders should have the right to withdraw their bids if they chose to do so.
25
26 Bids received were from: DUCO Co.for$138,649, less the trade in for the 1981 ALTECH digger derrick on a
27 1981 International Harvester chassis for$8,000, making the net price$130,649 with an estimated delivery date of
28 100 to 150 days after receipt of the order; ALTECH Equipment Co.for$88,243 but did not include the chassis or
29 option, less a trade in of$8,000, leaving a net total of$80,243 with delivery date 180 days after receipt of the
30 order,and the bid for a chassis was$34,352 with an alternate bid of$33,595;TECO Inc.for$120,262, less a
31 trade in of$7,510,with a net total of$112,752. Huffman asked to have the bids referred to him for tabulation,
32 evaluation and recommendations.Vice President McBride so moved,second by Councilmember Parker and the
33 motion was carried by a unanimous voice vote.
34
35 Commenting on the recent trip to Annaheim, Calif.for the American Public Power Conference, Huffman said he
36 felt this type of conference was one of the best in the world. He noted that more than 2,000 were registered,
37 representing 500 different electric systems,both large and small,throughout the world. He added that they
38 included all types,coming under different control,with the local one being one of the few coming under direct
39 control of the Common Council. He noted the importance of knowing the background of the systems,giving as an
40 example the difference in rates charged by the utilities on the west coast which had the distinct advantage of
41 having hydro power as opposed to those utilities in the midwest area.
42
43 Even with the differences, however, Huffman pointed out that nearly 100 percent of the remarks made on the
44 subject of reserves indicated that the ratepayer does not subsidize the taxpayer. He noted that the conference
45 gave Board members an opportunity to talk with other managers of utility boards and make comparisons. He
46 added that it was his feeling that each Board member should attend the conference on a regular basis to become
47 more informed and noted that he felt that it was a direct benefit for the ratepayer.
48
49 Councilmember Allen said it was her first time to attend the conference and noted that she got a lot out of it.She
50 suggested that at the July 26 meeting at the RP&L service building that the Board members who attended share
51 their experiences with those who were unable to attend.
52
53 Councilmember Allen noted that by December 31, 1994,accrual in the RP&L books for payment to the City in
54 lieu of taxes would be in the amount of$2,475,000.She asked Board members to consider paying that amount to
55 the City in January 1994, noting that it would in no way affect the budget of RP&L for 1993 and will let the City
56 know while preparing the budget for 1994 what it can expect from RP&L.She said she was not ready to make a
57 motion but would appreciate each Board member giving it careful consideration.She added that in the fall she
58 would vote for a specific policy that would provide for the transfer to the general fund.
59
60 ADJOURNMENT
61
62 There being no further business,on a motion duly made,seconded and passed the meeting was adjourned.
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64
65
Jane Brookbank,Chairperson
ATTEST:
Norma Carnes, City Clerk