HomeMy Public PortalAbout12-04-1989 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. DECEMBER 4. 1989
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 December 4, 1989 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:
6
7 APPROVAL OF MINUTES OF NOVEMBER 21. 1989
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9 Councilmember Brookbank 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 194,231.75
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19 Investments Purchased :
20 Cash Operating Fund 1,875,000.00
21 Bond Sinking Fund .00
22 Utility Bond Reserve Fund .00
23 Depreciation Reserve Fund 657,760.00
24 Consumer Deposit Fund .00
25 Cash Reserve Fund .00
26 Insurance Reserve Fund .00
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28 Total Investments 2,532,760.00
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30 Transfers-from Depreciation Reserve to:
31. Cash Operating Fund 530,561.64
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 Utility 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 1,155,535.96
49 Total Bills Not Paid 888,750.08
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51 Grand Total of All Approved Bills 5,301,839.43
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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.
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59 REMARKS BY CHAIRMAN
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61 Chairman McBride introduced Mr. Bruce Metzger, as the new full time City Attorney.
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63 STREET LIGHT COMMITTEE REPORT
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65 None was presented.
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RP&L Minutes,Cont'd
December 4, 1989
Page 2
1 REPORT BY GENERAL MANAGER
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3 General Manager, Irving Huffman welcomed Mr.Metzger and added that they had been missing the use of a City
4 Attorney and looked forward to working with him especially on local affairs.
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6 Mr. Huffman reported on IMPA and their purchase of two sites for the erection of two 60 megawatt station for
7 peaking purposes subject to approval of the Public Service Commission for the bond sale for financing. Mr.
8 Huffman said that one location was connected to the I&M substation serving the City of Centerville and was an
9 ideal location with no zoning required. He said this station can provide power to I&M or Public Service Company
10 of Indiana to service peaking load.
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12 Mr. Huffman reported that the other station was to be built in Anderson and would help with the peaks in
13 Anderson. Mr. Huffman sated that IMPA can provide peaking power at a much lower cost and they will only need
14 the stations during peak conditions, but he added that he would insist the station also have black out/start up
15 capabilities.
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17 Mr. Huffman invited all to come and see the Christmas Tree on the new stack. He said the tree is 250 ft. in height
18 and they hope to be able to place something on top next year. He said the cost of lighting the tree is only$1.00
19 per hour.
20
21 ADJOURNMENT
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23 There being no.further business,on a motion duly made,seconded and passed the meeting was
24 adjourned.
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30 Don McBride, Chairman
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35 ATTEST:
36 Mary Merchanthouse, City Clerk
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