HomeMy Public PortalAbout05-07-1990 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, MAY 7. 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 May 7, 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, and Paust. Absent: Morris. The following business was had to-wit:
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6 APPROVAL OF MINUTES OF APRIL 16. 1990
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8 Councilmember McBride moved to approve the minutes of the previous meeting as prepared, seconded by
9 Councilmember Paust 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 249,906.86
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18 Investments Purchased :
19 Cash Operating Fund 1,600,000.00
20 Bond Sinking Fund .00
21 Utility Bond Reserve Fund .00
22 Depreciation Reserve Fund - 1,156,123.33
23 Consumer Deposit Fund .00
24 Cash Reserve Fund 275,000.00
25 Group Insurance Fund .00
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27 Total Investments 3,031,123.33
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29 Transfers from Depreciation Reserve to:
30 Cash Operating Fund .00
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32 Transfers from Utility Bond Reserve Fund to
33 Bond Sinking Fund .00
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35 Transfers from Cash Operating :
36 Interest and Bond Principal .00
37 Bond Sinking Fund .00
38 Cash Reserve Fund 275,000.00
39 Utility Bond Sinking Fund .00
40 Depreciation Reserve Fund .00
41 Insurance Reserve Fund .00
42 Total Transfers
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45 End of Month Petty Cash .00
46 Revenue Bonds .00
47 Interest Coupons Redeemed .00
48 Coupons Purchased .00
49 Miscellaneous Bills Already Paid 1,306,383.12
50 Total Bills Not Paid 1,226,424.63
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52 Grand Total of All Approved Bills 6,088,837.94
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54 Upon recommendation of the Finance Committee, Councilmember Elstro moved to approve the investments
55 purchased, transfers made and bills to be paid, seconded by Councilmember Hutton and on unanimous voice
56 vote the motion was carried.
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58 REMARKS BY CHAIRMAN
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60 Chairperson Lundy commented on an article in the Crusader about the benefits to Centerville with the new
61 generating plant.
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63 STREET LIGHT COMMITTEE REPORT
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65 Councilmember Hutton presented a petition from the residents of Park Avenue and Glenwood Drive for street
lights. The petition was referred to Board of Works for further action.
RP&L Minutes Cont'd
May 7, 1990
Page 2
1 Councilmember Brookbank asked if the problem with the two lights in Meadow Park had been resolved and Mr.
2 Richard Barker indicated that one has been moved and a determination will be made about the second one.
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4 MISCELLANEOUS BUSINESS
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6 None was presented.
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8 REPORT BY GENERAL MANAGER
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10 Mr. Richard Barker informed the Council that he had no formal report,but would be glad to answer any questions.
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12 Councilmember Brookbank asked about the status of the proposed peaking station and Mr. Barker said the buy
13 out of property was not completed and they were currently going through the IDEM permit process. He said they
14 now have options on the property at a fixed price and feel the permit will be completed within 45 to 60 days
15 allowing them to proceed with their plans.
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17 ADJOURNMENT
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19 There being no further business,on a motion duly made,seconded and passed the meeting was
20 adjourned.
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25 Etta Lundy, Chairperson
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30 ATTEST:
31 Mary Merchanthouse, City Clerk
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