HomeMy Public PortalAbout04-01-1991 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, APRIL 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 April 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: 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 MARCH 18, 1991
8
9 Councilmember Hankinson moved to approve the minutes of the previous meetings as prepared, seconded by
10 Councilmember Paust 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 407,714.92
17
18
19 Investments Purchased From:
20 Casty Operating Fund 3,100,000.00
21 Bond Sinking Fund .00
22 Utility Bond Reserve Fund .00
23 Depreciation Reserve Fund 1,411,600.00
24 Consumer Deposit Fund .00
25 Cash Reserve Fund .00
26 Group Insurance Fund .00
27
28 Total Investments 4,511,600.00
29
30 Transfer to City in Lieu of Taxes.,
31
32 Transfers from Depreciation Reserve to:
33 Cash Operating Fund 950,000..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 Utilly 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 1,523,539.15
57 Total Bills Not Paid 941.700.99
58 8,334,555.06 •
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.
63
64 REMARKS BY CHAIRPERSON
65
The Chairman presented no remarks.
RP&L Minutes Cont'd
April 1, 1991
Page 2
1 UNFINISHED BUSINESS
2 3 No business.
4
5 STREET LIGHT COMMITTEE REPORT
6
7 No report was presented.
8
9 j,VIISCEL LANEO US BUSINESS
10
11 None was presented.
12
13 REPORT BY GENERAL MANAGER
14
15 Mr. Huffman reported to the Board that the crews have returned from assisting with repairs in Frankfort due to
16 damage from the ice storm. He said there were as many as 800 linemen on the job and the public was very
17 pleased and happy and appreciated the assistance from other communities.
18
19 Mr.Huffman said he had spend the afternoon in preliminary negotiations on the LIFAC project. He said they will
20 be negotiating to utilize the maximum amount of dollars to still be eligible to receive matching funds from the
21 Department of Energy made available by Congress through the Clean Coal program.
22
23 Mr. Huffman reported that next Tuesday they would be meeting with the Public Service Commission with the
24 petition for Certificate of Necessity on this project. He said it is the contention that with an experimental project
25 one was not necessary, but they intended to go forward with the Certificate of Necessity and the hearing with
26 hopes they will get the ruling it is not necessary.
27
28 Mr. Huffman spoke of Senate Bill 582,which is now in a House Committee, and will allow IMPA to do business
29 out side of the State of Indiana. He said IMPA would have liked to bought into the new Louisville plant, but were
30 unable to do so and if IMPA can't sell outside the State they have less negotiating powers with in state agencies.
31
32 Mr. Huffman said private power companies are telling the Indiana Coal Companies that IMPA would not use
33 Indiana coal outside of the state and Mr. Huffman clarified that some plants within the State do not use Indiana
34 coal. He encouraged assistance from the Board to get this bill through the House.
35
36 Councilmember McBride asked if there was any wind damage to any of the temporary line in Frankfort and Mr.
37 Huffman said there was some problems because the poles had not settled in good. He added they had
38 accomplished in six days what should have taken six months.
39
40 Councilmember Brookbank asked about the Spring Conference and Mr. Huffman said the Board would be invited
41 and the dinner will be on May 1, 1991 at the Quality Inn.
42
43 ADJOURNMENT
44
45 There being no further business,on a motion duly made,seconded and passed the meeting was
46 adjourned.
47
48
49
50
51 Howard J. Elstro,Chairperson
52
53
54
55
56 ATTEST:
57 Mary Merchanthouse, City Clerk
58
59
60
61
62
63
64
65