HomeMy Public PortalAbout01-02-1990 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, JANUARY 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 January 2, 1990 at the hour of 7:00 P.M. in the Municipal
3 Building in said City. Chairman McBride presided with the following Councilmembers in attendance: Elstro,
4 Lundy, Brookbank, Hankinson, Parker, Hutton, Morris and Paust. Absent: None. The following business was
5 had to-wit:
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7 APPROVAL OF MINUTES OF DECEMBER 18. 1989
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9 Councilmember Brookbank moved to approve the minutes of the previous meeting as prepared,
10 seconded by Councilmember Hankinson 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 193,152.05
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19 Investments Purchased :
20 Cash Operating Fund 950,000.00
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 ' Insurance Reserve Fund 151.975.00
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28 Total Investments 1,101,975.00
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30 Transfers from Depreciation Reserve to:
31 Cash Operating Fund .00
32
33 Transfers from Utility Bond Reserve Fund to:
34 Bond Sinking Fund .00
35
36 Transfers from Cash Operating
37 Bond Sinking Fund .00
38 Cash Reserve Fund .00
39 Utiity Bond Sinking Fund .00
40 Depreciation Reserve Fund .00
41 Insurance Reserve Fund .00
42 Total Transfers
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45 Revenue Bonds .00
46 Interest Coupons Redeemed .00
47 Coupons Purchased .00
48 Miscellaneous Bills Already Paid 1,272,054.53
49 Total Bills Not Paid 1.126.125.64
50
51 Grand Total of All Approved Bills 3,693,307.22
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55 Upon recommendation of the Finance Committee, Councilmember Elstro moved to approve the investments
56 purchased,transfers made and bills to be paid,seconded by Councilmember Paust and on unanimous voice
57 vote the motion was carried.
58
59 REMARKS BY CHAIRMAN
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61 Chairperson Lundy reported that Councilmember McBride was not in attendance due to illness. She thanked the
62 Board for her election as Chairperson and that she would need the help of all.
63
64 STREET LIGHT COMMITTEE REPORT
65
None was presented.
RP&L Minutes Cont'd
January 2, 1990
Page 2
1 REPORT BY GENERAL MANAGER
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3 General Manager, Irving Huffman congratulated Councilmember Lundy on her election to Chair of the RP&L
4 Board of Directors.
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6 Mr. Huffman reported to the Board on the LIFAC Project and RP&L being chosen to participate. He said there
7 were many details to still be worked out and RP&L was one of nine utilities chosen to participate and the only
8 publicly owned utility.
9
10 Mr. Huffman stated that the State of Indiana would also like to be a participant and they will be meeting with the
11 State to see what funds will be made available for the project.
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13 Mr. Huffman said this new project will have a large impact on the industry and the work done with the LIMB
14 project can be utilized. He said this project will also impact the cool side of the boiler to allow longer time for
15 absorption of the sulfer dixoide.
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17 Mr. Huffman also reported that they were now working with the Department of Energy to determine who has
18 physical ownership of the property used in the LIMB Project. He said the equipment is of value to RP&L in place,
19 but of no value to others.
20
21 Chairperson Lundy stated that the Board was very proud of the accomplishments of the utility and do share in the
22 pride because they are also a part of the accomplishments.
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24 ADJOURNMENT
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26 There being no further business,on a motion duly made, seconded and passed the meeting was
27 adjourned.
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32 Etta Lundy, Chairperson
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41 ATTEST:
42 Mary Merchanthouse, City Clerk
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