HomeMy Public PortalAbout02-19-1991 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, FEBRUARY 19, 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 February 19, 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, McBride, Parker, Morris, Hutton and Paust. Absent: Hankinson. The following business was had
5 to-wit:
6
7 APPROVAL OF MINUTES OF FEBRUARY 4. 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
13
14
15 Bills Already Paid
16 Payroll and Deductions 184,404.35
17
18
19 Investments Purchased :
20 Cash Operating Fund 2,100,000..00
21 Bond Sinking Fund .00
22 UtilIty Bond Reserve Fund .00
23 Depreciation Reserve Fund .00
24 Consumer Deposit Fund .00
25 Cash Reserve Fund .00
26 Group Insurance Fund .00
27
28 Total Investments 2,100,000.00
29
111 30 Transfer to City in Lieu of Taxes:
31
32 Transfers from Depreciation Reserve to:
33 Cash Operating Fund 972,990.41.00
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 875,250 .00
40
41 Transfers from Cash Operating :
42 Interest and Bond Principal .00
43 Bond Sinking Fund .00
44 Cash Reserve Fund .00
45 Utilky Bond Sinking Fund .00
46 Depreciation Reserve Fund .00
47 Insurance Reserve Fund .00
48 Total Transfers
49
50 Interest and Board Principal 35,393.75
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 94,219.49
57 Total Bills Not Paid 83,842.69
58 4,346,100.69
59
60 Upon recommendation of the Finance Committee, Councilmember Brookbank moved to approve the investments
61 purchased,transfers made and bills to be paid, seconded by Councilmember Paust and on unanimous voice vote
62 the motion was carried.
63
64 REMARKS BY CHAIRPERSON
65
Chairperson Elstro had no remarks.
RP&L Minutes Cont'd
February 19, 1991
Page 2
1 UNFINISHED BUSINESS
2
3 No business.
4
5 STREET LIGHT COMMITTEE REPORT
6
7 No report was presented.
8
9 MISCELLANEOUS BUSINESS
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11 None was presented.
12
13 REPORT BY GENERAL MANAGER
14
15 Award Bids for One 1991 Station Wagon
16
17 Mr. Irving Huffman explained to the Board that the bid of Fred First Ford did not meet specifications in all areas
18 and Quote No. 1 of Brookbank Chevrolet was the lowest and best bid submitted at a net bid price of 9,990.00 with
19 immediate delivery.
20
21 Councilmember McBride moved to award the bid for one 1991 station wagon to Brookbank Chevrolet at a net
22 price of 9,900.00,seconded by Councilmember Parker and on unanimous voice vote the motion was carried.
23
24 LIFAC Update
25
26 Mr. Huffman informed the Board a presentation had been made in Pittsburg regarding the LIFAC project. He said
27 that Oberle has the local contract to install a by-pass duct to to into the new reactor and they will be fabricating the
28 project on site.
29
30 Mr. Huffman said that 18,000,000.00 has been earmarked for this project and they hope to have a ground
31 breaking ceremony to include people from all over.
32
33 Councilmember Hutton asked about funding and Mr. Huffman said all had been committed but 500,000.00 from
34 ERPI and they will be making a presentation for that commitment next week.
35
36 MISCELLANEOUS BUSINESS
37
38 Cancellation of Executive Board Meeting
39
40 Chairperson Elstro announced the meeting of the Board set for February 25, 1991 would be cancelled.
41
42 ADJOURNMENT
43
44 There being no further business, on a motion duly made, seconded and passed the meeting was
45 adjourned.
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49 Howard J. Elstro, Chairperson
50
51
52 ATTEST:
53 Mary Merchanthouse, City Clerk
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