HomeMy Public PortalAbout07-02-1990 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 2, 1990
1 The Common Council of the City of Richmond, Indiana, serving as a Board in charge of the operation of the
2 Richmond Power & Light Plant, met in regular session July 2, 1990 at the hour of 7:00 P.M. in the Municipal
3 Building in said City. Chairman Lundy presided with the following Councilmembers in attendance: Brookbank,
4 Hankinson, McBride, Parker, Hutton, Morris and Paust. Absent: None. The following business was had to-wit:
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6 APPROVAL OF MINUTES OF JUNE 18, 1990
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8 Councilmember Morris moved to approve the minutes of the previous meeting as prepared, seconded by
9 Councilmember McBride and on unanimous voice vote the motion was carried.
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11 APPROVAL OF BILLS, INVESTMENTS AND TRANSFERS
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14 Bills Already Paid
15 Payroll and Deductions 189,396.59
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18 Investments Purchased :
19 Cash Operating Fund 1,775,000.00
20 Bond Sinking Fund .00
21 Utility Bond Reserve Fund .00
22 Depreciation Reserve Fund .00
23 Consumer Deposit Fund .00
24 Cash Reserve Fund 275,000.00
25 Group Insurance Fund .00
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27 Total Investments 2,050,000.00
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29 Transfers from Depreciation Reserve to:
30 Cash Operating Fund 538,500.00
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32 Transfers from Consumer Deposit to:
33 Cash Operating Fund 100.00
34
35 Transfers from Utility Bond Reserve Fund to:.
36 Bond Sinking Fund .00
37
38 Transfers from Cash Operating :
39 Interest and Bond Principal .00
40 Bond Sinking Fund .00
41 Cash Reserve Fund 275,000.00
42 Utility Bond Sinking Fund .00
43 Depreciation Reserve Fund .00
44 Insurance Reserve Fund .00
45 Total Transfers
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48 End of Month Petty Cash .00
49 Revenue Bonds .00
50 Interest Coupons Redeemed .00
51 Coupons Purchased .00
52 Miscellaneous Bills Already Paid 1,168,752.03
53 Total Bills Not Paid 1,059,104.89
54 5,280,853.51
55
56 Upon recommendatian of the Finance Committee, Councilmember Elstro moved to approve the investments
57 purchased,transfers made and bills to be paid, seconded by Councilmember Brookbank and on unanimous voice
58 vote the motion was carried.
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60 REMARKS BY CHAIRMAN
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62 Chairman Lundy commented on a recent article regarding the new project for RP&L.
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64 STREET LIGHT COMMITTEE REPORT '
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None was presented.
RP&L Minutes Cont'd
July 2, 1990
Page 2
1 UNFINISHED BUSINESS
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3 None was presented.
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5 MISCELLANEOUS BUSINESS
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7 None was presented.
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9 REPORT BY GENERAL MANAGER
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11 Mr. Delmer Cox, representing Mr. Huffman,told the Board he had no report, but would answer questions.
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13 There were no questions for Mr. Cox
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15 ADJOURNMENT
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17 There being no further business, on a motion duly made, seconded and passed the meeting was
18 adjourned.
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22 Etta Lundy, Chairperson
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27 ATTEST:
28 Mary Merchanthouse, City Clerk
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