HomeMy Public PortalAbout11-04-1991 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 4.1991
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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 4, 1991 at the hour of 7:00 P.M. in the Municipal
3 Building in said City. Chairman Elstro presided with the following Councilmembers in attendance: Lundy,
4 Brookbank, Parker, Hutton , Morris and Paust. Absent: Hankiide. The following business was had
5 to-wit:
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7 APPROVAL OF MINUTES OF OCTOBER 21. 1991
8
9 Councilmember Brookbank moved to approve the minutes of the previous meetings as prepared, seconded by
10 Councilmember Hutton and on unanimous voice vote the motion was carried.
11
12 APPROVAL OF BILLS. INVESTMENTS AND TRANSFERS
13
14 Upon recommendation of the Finance Committee,Councilmember Brookbank moved to approve the following
15 bills for payment,seconded by Councilmember Paust and on unanimous voice vote the motion carried.
16
17 Bills Already Paid
18 Payroll and Deductions 397,136.20
19
20
21 Investments Purchased From:
22 Cash Operating Fund 2,650,000.00
23 Bond Sinking Fund
24 Utilky Bond Reserve Fund
25 Depreciation Reserve Fund
26 Consumer Deposit Fund
27 28
Cash Reserve Fund 463,000.00
Group Insurance Fund
29
30 Total Investments 3,113,000.00
31
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33 Transfer to City in Lieu of Taxes:
34
35 Transfer from PY Ded.to:
36 Cash Operating Fund
37
38 Transfers from Depreciation Reserve to:
39 Cash Operating Fund
40
41 Transfers from Consumer Deposit to:
42 Cash Operating Fund
43
44 Transfers from Utility Bond Reserve Fund to;
45 Bond Sinking Fund
46
47 Transfers from Cash Operating :
48 Interest and Bond Principal
49 Bond Sinking Fund
50 Cash Reserve Fund 463,000.00
51 Utility Bond Sinking Fund
52 Depreciation Reserve Fund
53 Insurance Reserve Fund
54 Consumer Deposit Fund
55
56
57 Interest and Band Principal
58
59 End of Month Petty Cash
60 Revenue Bonds
61 Interest Coupons Redeemed
62 Bond Coupons
63 Miscellaneous Bills Already Paid 1,443,478.55
64
65 Total Bills Not Paid 1.362.269.36
Grand Total 6,778,884.11
RP&L Minutes Cont'd
November 4, 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 announced that the budget had been prepared and he would get it out to the Board tomorrow.
20 He said he would like to get notices out and set a meeting. Mr. Huffman commented the budget looked good and
21 was in a good format. He asked the Board to look over the budget and if there were questions to let him know.
22
23 Mr. Huffman commented on the article in the Palladium Item regarding a proposed rate increase and the headline
24 being misleading,but the article being very good. Mr. Huffman noted that the last paragraph of the article said
25 they would file for the increase in 1993 and it would take one year for an approval.
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27 Mr.Huffman said he hoped the consumers read the article and not just the headline and he suggested that
28 headline writers read the article before writing the headline. Mr. Huffman said in light of trying to attract industry to
29 our community,this type of headline is not helpful.
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31 ADJOURNMENT
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33 There being no further business,on a motion duly made,seconded and passed the meeting was
34 adjourned.
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39 Jack Elstro, Chairperson
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43 ATTEST:
44 Mary Merchanthouse, City Clerk
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