HomeMy Public PortalAbout07-15-1991 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,JULY 15, 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 July 15, 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, Hankinson, McBride, Parker, Hutton and Paust. Absent: Morris. The following business was had
5 to-wit:
6
7 APPROVAL OF MINUTES OF JULY 15, 1991
8
9 Councilmember McBride moved to approve the minutes of the previous meetings as prepared, seconded by
10 Councilmember Hankinson and on unanimous voice vote the motion was carried.
11
12 APPROVAL OF BILLS, INVESTMENTS AND TRANSFERS
13
14
15 Bills Already Paid
16 Payroll and Deductions 205,979.12
17
18
19
20 Investments Purchased From:
21 Cash Operating Fund 1,025,000.00
22 Bond Sinking Fund
23 Utility Bond Reserve Fund 100,108.00
24 Depreciation Reserve Fund
25 Consumer Deposit Fund 149,891.87
26 Cash Reserve Fund
27 Group Insurance Fund
28
29 Total Investments 1,275,000.00
30
31
32 Transfer to City in Lieu of Taxes;
33
34 Transfer from PY Ded.to:
35 Cash Operating Fund
36
37 Transfers from Depreciation Reserve to:
38 Cash Operating Fund
39
40 Transfers from Consumer Deposit to:
41 Cash Operating Fund
42
43 Transfers from Utility Bond Reserve Fund to:
44 Bond Sinking Fund 13,200.00
45
46 Transfers from Cash Operating :
47 Interest and Bond Principal
48 Bond Sinking Fund
49 Cash Reserve Fund 212,500.00
50 Utility Bond Sinking Fund
51 Depreciation Reserve Fund
52 Insurance Reserve Fund
53 Consumer Deposit Fund
54
55
56 Interest and Bond Principal
57
58 End of Month Petty Cash
59 Revenue Bonds
60 Interest Coupons Redeemed
61 Bond Coupons 10,425.00
62 Miscellaneous Bills Already Paid 1,612,947.38
63
64 Total Bils Not Paid 171.674.85
65
Grand Total 1,784,622.23
RP&L Minutes Cont'd
July 15, 1991
Page 2
1 REMARKS BY CHAIRPERSON
2
3 Chairman Elstro reminded the Board of the meeting at the Service Building on July 29, 1991 at 7PM for
4 discussion of cable. He asked if the members had any questions get them to Mr. Huffman prior to the meeting.
5
6 UNFINISHED BUSINESS
7
8 No business.
9
10 STREET LIGHT COMMITTEE REPORT
11
12 Councilmember McBride presented the designs for Hodgin Road to be forwarded to the Board of Works.
13
14 MISCELLANEOUS BUSINESS
15
16 None was presented.
17
18 REPORT BY GENERAL MANAGER
19
20 Mr. Huffman said he would like the members to get all their questions regarding RP&L going into cable business
21 ready for the 29th meeting. He said they plan to answers questions at that time and will have qualified persons
22 present to give answers and get information back to the Board for the August 26th meeting. Mr. Huffman stated
23 that if the Board does not make a decision at the August meeting he felt there would not be enough time to
24 implement plans prior to new members coming on Council and making the transition difficult.
25
26 Mr. Huffman addressed the survey included in the RP&L bills and said they had received 3,165 back to date and
27 they overwhelmingly supported RP&L going into cable business.
28
29 Councilmember McBride asked who would be in charge of cable operations and Mr. Huffman said that would be
30 at the discretion of the Board, but felt the Board would want this operation to be its own profit center with RP&L
31 people involved. He said the cable would become its own entity.
32
33 Mr. Huffman believed the operations would include present RP&L employees along with new staff, but the PSC
34 would not want the utility rate payers to subsidize the cable business. He said to get it off the ground, RP&L
35 would probably loan the dollars at a specific interest rate.
36
37 Councilmember Paust said he would like to see a response in writing to the correspondence received from TCI
38 and also like to see a private study including pro-formas,organizational structure, effect on reserves and where
39 the dollars for start up would come from. He said he was not certain the Board could make a 7 to 8 million dollar
40 decision in a month and wanted adequate information so not to affect rate payers. He also felt there needed to be
41 adequate information to justify RP&L going into private business.
42
43 Councilmember McBride asked if the Telecommunications Council could control TCI with the length of the
44 agreement and it was explained that this was a negotiable item, but they could recommend to Council that the
45 Franchise Agreement with TCI not be renewed.
46
47 ADJOURNMENT
48
49 There being no further business, on a motion duly made, seconded and passed the meeting was
50 adjourned.
51
52
53
54
55 Howard J. Elstro, Chairperson
56
57
58
59 ATTEST:
60 Mary Merchanthouse, City Clerk
61
62
63
64
65