HomeMy Public PortalAbout09-15-1980 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, SEPTEMBER 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 September 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 presents
5 Messrs. Elstro, Williams, Hankinson, Parker, Carter, Mills and Paust.
III 6 Absent: Welch. The following business was had, to-wit:
7 -
8 APPROVE MINUTES
9
10 Councilman Hankinson moved to approve the minutes of the previous meeting as
11 prepared, seconded by Councilman Williams and on unanimous voice vote the
12 motion was carried.
13
14 APPROVE BILLS, TRANSFERS AND INVESTMENTS
15
16 Councilman Carter moved to approve the following bills, transfers and invest-
17 ments as submitted, seconded by Councilman Hankinson and on unanimous voice
18 vote the motion was carried:
29
20 APPROVE THE FOLLOWING:
21 Bills in the amount of 1,061,815.40
22 Bonds and Interest Coupons 6,045.00
23 1 Payroll 99,282.38
24
25 TRANSFERS FROM CASH OPERATING FUND TO.;
26 Cash Reserve Fund 52,961.54
27 Bond Sinking Fund 65,865.42
28
III29 INVESTMENTS PURCHASED
30 Cash Operating Fund 212,274.64
31 ** Cash Operating Fund 350,000.00
32 * Depreciation Reserve Fund 77 ,725.36
33
34 * U.S. Treasury Notes (Repurchase Agreements) maturing 9/22/80,
35 yielding 7.0% interest
36 ** U.S. Treasury Notes (Repurchase Agreements). maturing 10/23/80,
37 yielding 9.75 and 10.00% interest
38
39 REMARKS BY CHAIRMAN
40
41 Chairman Ahaus announced the Executive Committee will meet Monday, September
42 22 at 7:00 pm. at RP&L.
43
44 COMMITTEE APPOINTMENTS
45
46 Chairman Alaaus appointed .a committee of Councilman Hankinson, Chairman, and
47 members Councilmen Welch and Parker to work with RP&L management who are going
48 through a thorough study of the present computer system and the possibility of
49 adding to or replacing this system.
50 .,..
51 STREETLIGHT COMMITTEE REPORT
52
53 Councilman Mills announced all the street light requests have been honored
54_ with the exception of one recently submitted by Councilman Hankinson for
55 Elmhurst Drive.
56
57 REPORT BY GENERAL MANAGER
58
59 General Manager Irving Huffman, who serves as Chairman of the Negotiating
60 Committee with investor-owned utilities for the Joint Agency, reported they
61 have met with all five (5) utilities and have had positive reception. Two
62 (2) of the utilities have excess generative capacity and are interested in
63 having someone take over part of the ownership. There is a meeting next
64 Friday and the consultants will probably be asked to look into the power
. RP&L Minutes Cont'd.
September .15, 1980
Page 2
1 supply study to get it orientated for negotiations around the two (2) companies.
2 Keeping in mind power supply for the future, RP&L is currently in negotiations
3 with I&M for a new contract. There is a meeting set for Thursday with I&M •
4 officials. During the last negotiations RP&L wanted an interchange of power
5 contract and received it. During these negotiations RP&L would like to
6 maximize their efficiency of operation, which would make power costs less and
7 keep the cost to the customers lower.
8
9 ADJOURNMENT
10
11 There being no further business on motion duly made, seconded and passed the :
12 meeting was adjourned.
13
14 Rick Ahaus
15 Chairman
16
17 ATTEST: JoEllen Trimble
18 City Clerk