HomeMy Public PortalAbout01-16-1990 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. JANUARY 16. 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 January 16, 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: Elstro,
4 Brookbank, Hankinson, McBride, Parker, Hutton, Morris and Paust. Absent: None. The following business was
5 had to-wit:
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7 APPROVAL OF MINUTES OF JANUARY 2.1990
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9 Councilmember Morris moved to approve the minutes of the previous meeting as prepared,
10 seconded by Councilmember Hutton and on unanimous voice vote the motion was carried.
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12 APPROVAL OF BILLS. INVESTMENTS AND TRANSFERS
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15 Bills Already Paid
16 Payroll and deductions 200,004.66
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19 Investments Purchased :
20 Cash Operating Fund 1,125,575.00
21 Bond Sinking Fund .00
22 Utility Bond Reserve Fund 2,049,025.00
23 Depreciation Reserve Fund 1,547,226.00
24 Consumer Deposit Fund 100,000.00
25 Cash Reserve Fund 741,825.00
26 Insurance Reserve Fund 151.975.00
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28 Total Investments 5,563,651.00
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30 Transfers from Depreciation Reserve to:
31 Cash Operating Fund .00
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33 Transfers from Utility Bond Reserve Fund to:
34 Bond Sinking Fund 840,856.25
35
36 Transfers from Cash Operating ;
37 Bond Sinking Fund .00
38 Cash Reserve Fund .00
39 Utility Bond Sinking Fund .00
40 Depreciation Reserve Fund .00
41 Insurance Reserve Fund .00
42 Total Transfers
43
44 Transfer to City Taxes in Lieu of Taxes 1,500,000.00
45 Transfer to City for Economic Development 150,000.00
46
47 End of Month Petty Cash 187.66
48 Revenue Bonds .00
49 Interest Coupons Redeemed .00
50 Coupons Purchased 742,100.00
51 Miscellaneous Bills Already Paid 169,569.50
52 Total Bills Not Paid 102.962.08
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54 Grand Total of All Approved Bills 9,269,331.15
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58 Upon recommendation of the Finance Committee, Councilmember Elstro moved to approve the investments
59 purchased,transfers made and bills to be paid,seconded by Councilmember Hankinson and on unanimous voice
60 vote the motion was carried.
61
62 REMARKS BY CHAIRMAN
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64 Chairperson Lundy made the following Committee appointments for 1990:
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RP&L Minutes Cont'd
January 16, 1990
Page 2
1 Finance Committee : Elstro, Paust and Hankinson
2 Street Light:Hutton
3 Employee Relations: Parker and McBride
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5 STREET LIGHT COMMITTEE REPORT
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7 None was presented.
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9 REPORT BY GENERAL MANAGER
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11 General Manager, Irving Huffman reported to the Board that RP&L has met with the Corporation for Science and
12 Technology as a funding agent for experimental projects in the industry. He said they congratulated RP&L about
13 th LIFAC project.
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15 He said RP&L presented a 1,500,000.00 funding presentation and this is a project they would like to become
16 involved with.
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18 Mr.Huffman explained the LIFAC project was for 500 megawatt units and below and that must utilities in Indiana
19 are below 500 megawatts. He added that the LIFAC team is made up of very recognizable people they they hope
20 to get the State funding and get the project underway. Mr. Huffman felt there would be no problems with getting
21 all contracts signed and presented to the Department of Energy for review and presentation to Congress with
22 engineering to start in May or June and construction in September or October and a completion in May of 1991.
23
24 Mr.Huffman said this was a good project for the RP&L and the rate payers and will have an impact on the
25 industry.
26
27 APPA Conference
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29 Mr. Huffman announced that the annual APPA Conference would be from June 7 to14, 1990. He told the Board
30 he recommended that all attend the conference to not only hear the speakers, but also meet and associate with
31 other people in the industry.
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33 ADJOURNMENT
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35 There being no further business,on a motion duly made,seconded and passed the meeting was
36 adjourned.
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41 Etta Lundy, Chairperson
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50 ATTEST:
51 Mary Merchanthouse, City Clerk
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