HomeMy Public PortalAbout03-17-1980 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, MARCH 17, 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 March 17, 1980 at the hour of 7:00 p.m. in the Municipal Building of
4 said City. Chairman Ahaus presided with the following members present:
5 Messrs: Elstro, Williams, Hankinson, Parker, Carter, Mills and Paust.
6 Absent: Welch. The following business was had, to-wit:
7
111 8 Councilman Williams moved to approve the minutes of the previous meeting as
9 prepared, seconded by Councilman Hankinson and on unanimous voice vote the
10 motion was carried.
11
12 Councilman Hankinson moved to approve the following bills, transfers and in-
13 vestments as presented, seconded by Councilman Carter and on unanimous voice
14 vote the motion was carried.
15
16 APPROVE THE FOLLOWING:
17 Bills in the amount of $ 991,967.05
18 Bonds and Interest Coupons 3,231.25
19 1 Payroll 97,210.36
20
21 TRANSFERS FROM CASH OPERATING FUND TO:
22 Cash Reserve Fund 64,029.17
23 Bond SinkingFund 71,115.42
24
25 INVESTMENTS PURCHASED
26 * Cash Operating Fund 665,000.00
27
28 * Short term investments (repurchase agreements) yielding, 10.5
29 and 11.5% interest
30
31 Chairman Ahaus announced the Executive meeting would be held at RP&L on March
III32 24th at 7:00 p.m. Also, on March 25th at 6:30 p.m. there will be a dinner
33 at Lees Inn to host several small utilities from this area regarding Joint
34 Agency.
35
36 General Manager Irving Huffman stated that an invitation had been mailed to
37 the Mayor, and extended the invitation to the City Attorney and to the press.
38 He said the past Legislature did pass the premissive legislation that would
39 allow the creation of a Joint Agency. The March 25th meeting is to explain
40 to this group and to other smaller municipals in the area, and to their
41 governing boards, the meaning of a Joint Agency. Mr. Huffman passed out a
42 copy drafted by their consultants and the legal advisors, the now existing
43 committee, which will evolve into the Joint Agency committee. A repre-
44 sentative will be there to explain "Joint Agency". Mr. Huffman passed out a
45 proposed contract made up by a consultant group, which also included the
46 by-laws. There is a meeting Thursday with the Joint Agency group to go over
47 this with the consultants and make any modifications necessary.
48
49 Mr. Huffman noted that in the bills there was a payment to the Public
50 Service Commission in the amount of $12,281.00 concerning Con Rail. At
51 the beginning of the fiscal year, which is from April to March 31, it was
52 listed that the proposed subsidy payments would have to be $6586.00 for a
53 three month period. RP&L made a payment of $2864.00 for October, November
54 and December on those proposed figures, which was an adjustment of the Con
55 Rail earningsreport. He stated that even at the $12,281.00 figure, the
56 customers of RP&L are still ahead.
III 57
58 There being no further business on motion duly made, seconded and passed
59 the meeting was adjourned.
60
61 Rick Ahaus
62 Chairman
63 ATTEST: Nacy Beach
64 Deputy Clerk