HomeMy Public PortalAbout12-15-1980 1
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 15, 1980
1 The Common Council of the City of Richmond, Indiana, serving as a Board in
2 charge of the operation of the Richmond Power & Light Plant, met in regular
3 session December 15, 1980 at the hour of 7 :00 p.m. in the Municipal Building
4 of said City. Chairman Ahaus presided with the following members present:
5 Messrs. Elstro, Williams, Hankinson, Welch, Parker., Carter, Mills and Paust.
6 Absent: None. The following business as had, to-wit:
7
8 APPROVAL OF MINUTES
9
10 Councilman Parker moved to approve the inutes of the previous meeting as
11 prepared, seconded by Councilman Mills nd on unanimous voice vote the
12 motion was carried.
13
14 APPROVAL OF BILLS, TRANSFERS AND INVESTMENTS PURCHASED
15
16 Councilman Carter noted a correction from the agenda for Bonds and Interest
17 Coupons. The amount should read $35,578.75. With this correction he moved
18 the following bills, transfers and investments purchased be approved, seconded
19 by;Councilman Hankinson and on unanimous voice vote the motion was carried.
20
21 APPROVE THE FOLLOWING:
22 Bills in the amount of $1,262,968.41
23 Bonds and Interest Coupons 35,358'.75.
24 1 Payroll 114,819.39
25
26 TRANSFER FROM CASH OPERATING FUND TO:
27 Cash Reserve Fund 52,961.58
28 Bond Sinking Fund 65,865.42
29 . _
111 30 INVESTMENTS PURCHASED: .
31 * Cash Operating Fund 485,000.00
32 * Cash Reserve: Fund 52,961.88
33 ** II ft II 375,000.00
34 * Bond Sinking Fund 64,910.36
35 *** Depreciation Reserve Fund 2,020,519.31
36 *** Bond Reserve Fund 965,632.76
37 *** Consumers Deposit Fund 27,644.31
38
39 * Short Term Investments yielding 13.5 to 16% interest
40 ** C. D. maturing 6/2/81 yielding 14.75% interest
41 *** U.S. Treasury Bills maturing 12/3/81 yielding
42 15.492 and 15.875% interest
43
44 REMARKS BY CHAIRMAN OF BOARD
45
46 Chairman Ahaus noted the fourth Monday meeting date will be December 22.
47 The tentative plans are to meet that night with Black & Veach representatives
48 and Mr. Arnold Leas.
49
50 REPORT BY GENERAL MANAGER '
51 '
52 OPEN TRANSFORMER BIDS
53
54 In the absence of City Attorney Ed Anderson, Attorney Paul Hirsch examined
55 proof of publication and found it to be in order. Councilman Mills moved it
56 be accepted and placed on file, seconded by Councilman Welch and on unanimous
57 voice vote the motion was carried.
58 •
59 Mr. Huffman opened bids from: RTE, who submitted two bids; Richmond Electric
60 Co. , Inc. ; WESCO; Dynalectric Supply and Brownstown Electric Supply Co. , Inc.
61 Mr. Huffman noted the bids were lengthy and involved so the amounts were not
62 read. He noted the bids will be ready for public review tomorrow. He re-
63 quested the bids be referred to him for tabulation, evaluation and recommenda-
64 tion for presentation January 5, 1981. Councilman Parker so moved, seconded