HomeMy Public PortalAbout07-01-1991 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 1, 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 1, 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: Brookbank,
4 Hankinson, McBride, Parker, Morris, Hutton and Paust. Absent:Lundy. The following business was had to-wit:
5
6 APPROVAL OF MINUTES OF JUNE 24, 1991
7
8 Councilmember McBride moved to approve the minutes of the previous meetings as prepared, seconded by
9 Councilmember Brookbank and on unanimous voice vote the motion was carried.
10
11 APPROVAL OF BILLS, INVESTMENTS AND TRANSFERS
12
13
14 Bills Already Paid
15 Payroll and Deductions 398,099.87
16
17
18
19 Investments Purchased From:
20 Cash Operating Fund 2,600,000.00
21 Bond Sinking Fund
22 Utility Bond Reserve Fund 429,312.45
23 Depreciation Reserve Fund 977,495.00
24 Consumer Deposit Fund
25 Cash Reserve Fund 212,500.00
26 Group Insurance Fund
27
28 Total Investments 4,219,307.45
29
30
31 Transfer to City in Lieu of Taxes:
32
33 Transfer from PY Ded.to:
34 Cash Operating Fund
35
36 Transfers from Depreciation Reserve to:
37 Cash Operating Fund
38
39 Transfers from Consumer Deposit to:
40 Cash Operating Fund
41
42 Transfers from Utility Bond Reserve Fund to:
43 Bond Sinking Fund 13,200.00
44
45 Transfers from Cash Operating :
46 Interest and Bond Principal
47 Bond Sinking Fund
48 Cash Reserve Fund 212,500.00
49 Utility Bond Sinking Fund
50 Depreciation Reserve Fund
51 Insurance Reserve Fund
52 Consumer Deposit Fund
53
54
55 Interest and Bond Principal
56
57 End of Month Petty Cash
58 Revenue Bonds
59 Interest Coupons Redeemed
60 Bond Coupons
61 Miscellaneous Bills Already Paid 1,231,882.09
62
63 Total Bills Not Paid 1.361.195.86
64
65 Grand Total 7,436,185.27
RP&L Minutes Cont'd
July 1, 1991
Page 2
1 REMARKS BY CHAIRPERSON
2
3 Chairman Elstro asked that the Board keep July 29, 1991 open for a meeting of the Executive Board at the
4 Service Building at 7PM.
5
6 UNFINISHED BUSINESS
7
8 No business.
9
10 STREET LIGHT COMMITTEE REPORT
11
12 Councilmember McBride announced he had received a petition for street lights on South 48th and he had
13 recommended approval.
14
15 MISCELLANEOUS BUSINESS
16
17 None was presented.
18
19 REPORT BY GENERAL MANAGER
20
21 Mr.Huffman announced that Unit 1 was on line and a pulverizer had been damaged with start up. He said they
22 were able to get the part made locally and they are operating with two pulverizers and the third one will be up in a
23 few days.
24
25 Mr.Huffman told the Board that Unit 1 should go on another 30 years with the recent repairs and good past
26 maintenance and it still has good efficiency with the payback on the repairs being within five years.
27
28 Chairperson Elstro asked about the load and Mr. Huffman indicated they had not peaked yet and that some of the
29 load was not there due to the upcoming July 4th Holiday.
30
31 ADJOURNMENT
32
33 There being no further business,on a motion duly made,seconded and passed the meeting was
34 adjourned.
35
36
37
38
39 Howard J. Elstro,Chairperson
40
41
42
43 ATTEST:
44 Mary Merchanthouse, City Clerk
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65