HomeMy Public PortalAbout08-07-1989 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. AUGUST 7. 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 August 7, 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, Hutton, Parker Morris and Paust. Absent: None. The following business was had
5 to-wit:
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7 APPROVAL OF MINUTES OF JULY 17.1989 •
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9 Councilmeml r Hankinson 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 188,796.90
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19 Investments Purchased :
20 Cash Operating Fund 1,850,000.00
21 Bond Sinking Fund .00
22 Utility Bond Reserve Fund .00
23 Depreciation Reserve Fund 3,559,038.30
24 Consumer Deposit Fund .00
25 Cash Reserve Fund .00
26
27 Total Investments 5,409,038.30
28 Transfers from Depreciation Reserve to:
29 Cash Operating Fund 500,000.00
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31 Transfers from Utility Bond Reserve Fund to:
32 Bond Sinking Fund 55,856.25
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34 Transfers from Cash Operating :
35 Bond Sinking Fund .00
36 Cash Reserve Fund .00
37 Utility Bond Sinking Fund .00
38 Depreciation Reserve Fund .00
39 Total Transfers
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42 Revenue Bonds .00
43 Interest Coupons Redeemed - 2,493.75
44 Coupons Purchased .00
45 Miscellaneous Bills Already Paid 966,871.56
46 Total Bills Not Paid 1.960.279.13
47
48 Grand Total of All Approved Bills 9,027,479.64
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52 Upon recommendation of the Finance Committee, Councilmember Elstro moved to approve the investments
53 purchased,transfers made and bills to be paid,seconded by Councilmember Hankinson and on unanimous voice
54 vote the motion was carried.
55
56 REMARKS BY CHAIRMAN
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58 Chairman McBride asked about the proposal on Howard Apartments and if there was a resolve.
59
60 Mr. Huffman explained that the problems need to be worked out between the property owners and the apartment
61 owners.
62
63 Councilmember Parker asked that prior to RP&L getting financially involved that they include the Board on any
64 decision.
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RP&L Minutes Cont'd
August 7, 1989
Page 2
1 Mr. Huffman commented that if they split up the apartments they may have to make a financial commitment at
2 some point in time. He said new structures can specify where service point are located and this is an old problem
3 they are trying to rectify. He said it has not been kept up and could be expensive and set a precedent. Mr.
4 Huffman said the customer will have to realize there are conditions of service they have to abide by and RP&L
5 responsibility terminates at the point the service hits the building.
6
7 Mr. Richard Barker told the Board he had met with the residents and discussed some options and they will come
8 to the Board with any proposals. He said there would be no out of pocket money except for funds to help get the
9 job done quickly and these would be reimbursed. He added a proposal will be presented in writing to the Board
10 before any action.
11
12 Councilmember Hankinson said it sounded like RP&L would be acting like a financing agency and asked if they
13 were able to do that.
14
15 Mr. Huffman said it was allowable with a customer owned facility and there would also be interested charged on
16 the funds.
17
18 Councilmember Hutton stated that Mr. Dan Dooley was also at the meeting and he recommended a need for a
19 small revolving loan fund to be made available for people to assist them in getting their wiring updated.
20
21 STREET LIGHT COMMITTEE REPORT
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23 None was presented.
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25 REPORT BY GENERAL MANAGER
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27 Mr. Huffman informed the Board the he had attended a seminar in Washington DC regarding acid rain and
28 proposed legislation. He said they had also met with legislators concerning the acid rain problem. He stated
29 there was no need to stonewall acid rain legislation, but rather the industry should work towards making the
30 legislation livable. He did express some concerns on industry growth and possibility that it may have to relocate
31 due to legislation.
32
33 Chairman McBride asked about the percentage of emission from RP&L and Mr. Huffman said they know the
34 percentage of sulfur and they can compute it. He said they tried to be a good citizen and now that will act against
35 us if the limit is set at the 1980 level.
36
37 ADJOURNMENT
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39 There being no further business,on a motion duly made, seconded and passed the meeting was
40 adjourned.
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46 Don McBride, Chairman
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51 ATTEST:
52 Mary Merchanthouse, City Clerk
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