HomeMy Public PortalAbout11-18-1991 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
NOVEMBER 18,1991
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 November 18, 1991 at the hour of 7:00 P.M. in the
3 Municipal Building in said City. Chairman Elstro presided with the following Councilmembers in attendance:
4 Lundy, Brookbank, Hankinson, McBride, Parker, Hutton , Morris and Paust. Absent: Bone. The following
5 business was had to-wit:
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7 APPROVAL OF MINUTES OF NOVEMBER 4, 1991
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9 Councilmember Brookbank moved to approve the minutes of the previous meetings as prepared, seconded by
10 Councilmember McBride and on unanimous voice vote the motion was carried.
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12 APPROVAL OF BILLS. INVESTMENTS AND TRANSFERS
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14 Upon recommendation of the Finance Committee,Councilmember Hankinson moved to approve the following
15 bills for payment,seconded by Councilmember McBride and on unanimous voice vote the motion carried.
16
17 Bills Already Paid
18 Payroll and Deductions 206,840.98
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21 Investments Purchased From:
22 Cash Operating Fund 1,000,000.00
23 Bond Sinking Fund
24 Utility Bond Reserve Fund
25 Depreciation Reserve Fund 596,736.00
26 Consumer Deposit Fund
27 28
Cash Reserve Fund
Group Insurance Fund
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30 Total Investments 1,596,736.00
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33 Transfer to City in Lieu of Taxes:
34
35 Transfer from PY Ded.to:
36 Cash Operating Fund
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38 Transfers from Depreciation Reserve to:
39 Cash Operating Fund
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41 Transfers from Consumer Deposit to:
42 Cash Operating Fund
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44 Transfers from Utility Bond Reserve Fund to:
45 Bond Sinking Fund
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47 Transfers from Cash Operating :
48 Interest and Bond Principal
49 Bond Sinking Fund
50 Cash Reserve Fund
51 Utility Bond Sinking Fund
52 Depreciation Reserve Fund
53 Insurance Reserve Fund
54 Consumer Deposit Fund
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57 Interest and Bond Principal
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59 End of Month Petty Cash
60 Revenue Bonds
61 Interest Coupons Redeemed
62 Bond Coupons
63 Misce[laneous Bills Already Paid 93,485.08
64
65 Total Bills Not Paid 141 843.34
Grand Total 2,038,905.40
RP&L Minutes Cont'd
November 18, 1991
Page 2
1 REMARKS BY CHAIRPERSON
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3 No remarks were made.
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5 UNFINISHED BUSINESS
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7 No business.
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9 STREET LIGHT COMMITTEE REPORT
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11 No report was presented.
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13 MISCELLANEOUS BUSINESS
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15 None was presented.
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17 REPORT BY GENERAL MANAGER
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19 Mr. Irving Huffman requested Mr. Metzger addressed the Board regarding the transfer of RP&L owned property to
20 the Economic Growth Group for a new industry locating in Richmond.
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22 RESOLUTIONS 1 AND 2-1991
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24 Mr. Metzger presented Resolutions 1 and 2-1991 to the Board and for the transfer of Surplus Real Property and
25 asked Mr. Kinnett to comment on the necessity of handling the property transfer in this fashion.
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27 Mr.James Kinnett told the Board that negotiations with Amcast have been completed for the lease of property
28 owned by RP&L on Williamsburg Pike and that the new industry would employ 100 to 300 persons. He said the
29 transfer of the property required it to go through a pubic bidding process, but Amcast needs to get started with
30 plans before this process could be completed. Mr. Kinnett said in order to allow Amcast to proceed the Board
31 could transfer the property to the Economic Growth Group and when the public bidding process was completed
32 they would deed the property back to RP&L for completion of the sale.
33
34 Mr. Kinnett explained that anyone bidding on the property would have to abide by the terms set forth and the
35 Resolutions presented allowed RP&L to start the procedure by appointing two appraisers and to transfer title to
36 the Economic Growth Group.
37
38 Councilmember Parker inquired about the fair market value already being established and yet the appraisals not
39 yet done and Mr. Metzger said in public bidding they have to have 90%of the fail market value or better or it
40 would have to be rebid and after two attempts at bidding,they could take the highest vote.
41
42 Councilmember Paust asked what would happen if someone else presented a higher bid and Mr. Metzger said
43 the Board would have to accept the higher bid or not accept any bids. Mr. Metzger said the bidding specifications
44 say the successful bidder has to enter into a lease with very specific details on the structure,time limits and
45 number of employees.
46
47 Councilmember Parker asked how they could be certain of the employee numbers for 99 years and Mr. Huffman
48 reminded the Board that RP&L would still own the property and whoever has the lease has the option to
49 purchase.
50
51 Councilmember Parker asked about any structure on the land if the industry would close and Mr. Metzger said
52 they would be attached to the land, if they did not meet the terms of the lease it would be in default.
53
54 Councilmember Parker requested a copy of the Lease for the Board.
55
56 Councilmember Brookbank moved to place Resolutions 1 and 2- 1991 on the Agenda for action,seconded by
57 Councilmember Parker and on unanimous voice vote the motion was carried.
58
59 Councilmember Brookbank moved for adoption of Resolution 1-1991,seconded by Councilmember Hutton and
60 on unanimous voice vote the motion was carried.
61
62 Councilmember Brookbank moved for adoption of Resolution 2-1991,seconded by Councilmember Hankinson
63 and on unanimous voice vote the motion was carried.
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RP&L Minutes Cont'd
November 18, 1991
Page 3
1 Mr.Huffman reported to the Board that due to the LIFAC project they would not be able to light the tree on the
2 stack for this holiday season, but will light the star.
3
4 Mr.Huffman commented on an editorial in the Palladium Item regarding RP&L entering the cable business and
5 went over the results of questionnaires from cable users done earlier this summer.
6
7 Mr.Huffman said this Board did not speak out against RP&L entering the business and even the Chamber of
8 Commerce heard the message loud and clear that the public was upset with ICI.
9
10 Mr.Huffman presented information to the Board regarding Gannett owning a broadcast division and felt there was
11 some conflict with their editorial.
12
13 Councilmember Brookbank asked that Mr. Huffman provide a copy of his entire statement to the Board.
14
15 Mr. Huffman also announced they were close to the start up of the IMPA Station and he would arranges for the
16 Board to take a tour.
17
18 ADJOURNMENT
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20 There being no further business,on a motion duly made,seconded and passed the meeting was
21 adjourned.
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26 Jack Elstro, Chairperson
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30 ATTEST:
31 Mary Merchanthouse,City Clerk
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