HomeMy Public PortalAbout01-17-1989 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. JANUARY 17. 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 January 17, 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 JANUARY 3. 1989
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9 Councilmember 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.
11
12 APPROVAL OF BILLS. INVESTMENTS AND TRANSFERS
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15 Bills Already Paid
16 Payrall and deductions December 22,1988 183,309.02
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19 Investments Purchased :
20 Cash Operating Fund 711,080.00
21 Bond Sinking Fund .00
22 Utility Bond Reserve Fund 851,419.93
23 Depreciation Reserve Fund 6,546,811.24
24 Consumer Deposit Fund 100,000.00
25 Cash Reserve Fund 448.878.56
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27 Total Investments 8,658,189.73
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29 Transfers from Cash Operating ;
30 Bond Sinking Fund .00
31 Cash Reserve Fund .00
32 Utility Bond Sinking Fund .00
33 Depreciation Reserve Fund 00
34
35 Total Transfers .00
36
37 Transfer from Utility Bond Reserve Fund
38 to Band Sinking Fund 194;532.46
39
40 Payment to City-Cash Reserve Fund 1,650,000.00
41
42 Revenue Bonds 671,762.00
43 Interest Coupons Redeemed .00
44 Coupons Purchased .00
45 Miscellaneous Bills Already Paid 88,625.67
46 Total Bills Not Paid 421.499.02
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48 Grand Total of All Approved Bills - 12,483,535.94
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51 Upon recommendation of the Finance Committee, Councilmember Elstro moved to approve the investments
52 purchased,transfers made and bills to be paid,seconded by Councilmember Hankinson and on unanimous voice
53 vote the motion was carried.
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55 REMARKS BY CHAIRMAN
56
57 None.
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59 STREET LIGHT COMMITTEE REPORT
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61 Councilmember Hutton said she would be looking into a request regarding a street light in an alley and will report
62 back. Councilmember Elstro requested the committee look into the request for Liberty Pike.
63
64 UNFINISHED BUSINESS
65
None. •
RP&L Minutes Cont'd
January 17, 1989
Page 2
1 REPORT BY GENERAL MANAGER
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3 APPA Conference
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5 Mr. Huffman told the Board of the APPA Conference to be held in early June. He said that even though there has
6 been a lot of debate on the numbers of Board members allowed to attend, he felt it was best if all could attend to
7 learn more about their jobs. He said the conference will be held in Orlando, Florida and is held in places to attract
8 attendance at the conference and be able to accommodate around 3,500 people.
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10 Mr. Huffman requested any one wanting to attend the conference to let him know as soon as possible in order that
11 reservations could be made well in advance. He again encouraged the Board members to attend to learn their
12 jobs well and in return do a good job for local rate payers.
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14 Chairman McBride asked about a conference in Washington, D.C.that he had received information about and Mr.
15 Huffman said that was a legislative conference in February that involved meetings about utility operations and
16 visitations to legislators on a one to one basis. He said this conference developed good conversation between
17 the public power people and the legislators. Mr. Huffman said that one issue of importance to be discussed was
18 the tax exempt status for bonds. He added that proposed legislation developed at the February meeting would be
19 presented at the June meeting for adoption by the APPA.
20
21 Mr. Huffman said he would contact the Board members individually about attendance at both conferences.
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23 ADJOURNMENT
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25 There being no further business,on a motion duly made,seconded and passed the meeting was ad-
26 journed.
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34 Don McBride, Chairman
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40 ATTEST:
41 Mary Merchanthouse, City Clerk
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