HomeMy Public PortalAbout01-03-1989 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 3. 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 3, 1989 at the hour of 7:05 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 DECEMBER 19. 1988
8
9 Councilmember Hankinson moved to approve the minutes of the previous meeting as prepared,
10 seconded by Councilmember Parker and on unanimous voice vote the motion was carried.
11
12 APPROVAL OF BILLS. INVESTMENTS AND TRANSFERS
13
14
15 Bills Already Paid
16 Payroll and deductions December 22,1988 174,663.94
17
18
19 Investments Purchased :
20 Cash Operating Fund 1,770,000.00
21 Bond Sinking Fund .00
22 Utility Bond Reserve Fund .00
23 . Depreciation Reserve Fund 847,243.99
24 Consumer Deposit Fund .00
25 Cash Reserve Fund 137.500.00
26
27 Total Investments 2,754,743.99
28
29 Transfers from Cash Operating
30 Bond Sinking Fund .00
31 Cash Reserve Fund 137,500.00
32 Utility Bond Sinking Fund .00
33 Depreciation Reserve Fund .00
34
35 Total Transfers 137,500.00
36
37 Transfer from Depreciation Reserve Fund
38 to Cash Operating Fund 194,532.46
39
40 Revenue Bonds .00
41 Interest Coupons Redeemed .00
42 Coupons Purchased .00
43 Miscellaneous Bills Already Paid 889,676.99
44 Total Bills Not Paid 1.129.962.61
45
46 Grand Total of All Approved Bills 5,181,079.99
47
48
49 Upon recommendation of the Finance Committee, Councilmember Hutton moved to approve the investments
50 purchased,transfers made and bills to be paid,seconded by Councilmember Elstro and on unanimous voice
51 vote the motion was carried.
52
53 REMARKS BY VICE CHAIRMAN
54
55 None.
56
57 STREET LIGHT COMMITTEE REPORT
58
59 None.
60
61 UNFINISHED BUSINESS
62
63 General Manager's Salary
64
65 Councilmember Brookbank reported that the Employee Relations Committee recommended a 4%increase for the