HomeMy Public PortalAbout05-20-1991 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. MAY 20. 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 May 20, 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, Morris, Hutton and Paust. Absent: None. The following business was
5 had to-wit:
6
7 APPROVAL OF MINUTES OF MAY 6, 1991
8
9 Councilmember McBride moved to approve the minutes of the previous meetings as prepared, seconded by
10 Councilmember Brookbank and on unanimous voice vote the motion was carried.
11
12 APPROVAL OF BILLS, INVESTMENTS AND TRANSFERS
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14
15 Bills Already Paid
16 Payroll and Deductions 190,004.41
17
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19 Investments Purchased From:
20 Cash Operating Fund 555,343.18
21 Bond Sinking Fund .00
22 Utiliy Bond Reserve Fund .00
23 Depreciation Reserve Fund 169,656.82.
24 Consumer Deposit Fund .00
25 Cash Reserve Fund .00
26 Group Insurance Fund .00
27
28 Total Investments 725,000.00
29
30 Transfer to City in Lieu of Taxes:
31
32 Transfers from Depreciation Reserve to:
33 Cash Operating Fund ..00
34
35 Transfers from Consumer Deposit to:
36 Cash Operating Fund .00
37
38 Transfers from Utility Bond Reserve Fund to:
39 Bond Sinking Fund .00
40
41 Transfers from Cash Operating :
42 Interest and Bond Principal .00
43 Bond Sinking Fund .00
44 Cash Reserve Fund .00
45 Utility Bond Sinking Fund .00
46 Depreciation Reserve Fund .00
47 Insurance Reserve Fund .00
48 Total Transfers
49
50 Interest and Bond Principal .00
51
52 End of Month Petty Cash .00
53 Revenue Bonds .00
54 Interest Coupons Redeemed .00
55 Bond Coupons .00
56 Miscellaneous Bills Already Paid 1,358,379.25
57 Total Bills Not Paid 188,215.42
58 2,461,599.08
59
60 Upon recommendation of the Finance Committee, Councilmember Hankinson moved to approve the investments
61 purchased, transfers made and bills to be paid, seconded by Councilmember McBride and on unanimous voice
62 vote the motion was carried.
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RP&L Minutes Cont'd
May 20, 1991
Page 2
1 REMARKS BY CHAIRPERSON
2
3 Chairman Elstro had no remarks.
4
5 UNFINISHED BUSINESS
6
7 No business.
8
9 STREET LIGHT COMMITTEE REPORT
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11 None was presented.
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13 MISCELLANEOUS BUSINESS
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15 None was presented.
16
17 REPORT BY GENERAL MANAGER
18
19 Mr.Huffman updated the Board on the turbine upgrade in Unit#1. He explained that during an inspection with
20 today's better techniques it was discovered thre was a crack in the high pressure state of the turbine. He said this
21 is a real problem area and not uncommon with turbines of that era.
22
23 Mr.Huffman said the cost of repair would be 600,000.00 and is a part of maintenance on the equipment. He said
24 the unit will be off line until July 1st and there will be back up unit available during this time period. He said they
25 will also have their consultants contact GE and do an inspection on the turbine and he will keep the Board
26 advised.
27
28 Councilmember McBride asked about the cost of a new one and Mr. Huffman said 1 and 1/2 to 2 million dollars.
29
30 CABLE TV STUDY
31
32 Chairman Elstro informed the Board that the issue of RP&L providing Cable TV service was been brought up at
33 the recent Telecommunications Council meeting. He set June 1, 1991 at 7PM for the Board to meet at the
34 Service Building for discussion of this issue. He added he would like the Board to make a decision within four or
35 five months.
36
37 ADJOURNMENT
38
39 There being no further business,on a motion duly made,seconded and passed the meeting was
40 adjourned.
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45 Howard J. Elstro, Chairperson
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48
49
50 ATTEST:
51 Mary Merchanthouse, City Clerk
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