HomeMy Public PortalAbout01-21-1980 PROCEEDINGS OF THE COMMON COUNCIL OF THE
CITY OF RICHMOND, INDIANA, SERVING AS A BOARD
IN CHARGE OF THE OPERATION OF THE RICHMOND POWER
AND LIGHT PLANT, JANUARY 21, 1980
1 The Common Council of the City of Richmond, Indiana, serving as a Board
2 in charge of the operation of the Richmond Power & Light Plant, met in
3 regular session January 21, 1980 at the hour of 7:00 p.m. in the Municipal
4 Building of said City_.
5
6 President of Common Council Paust announced the election of President Pro-
7 Tem for the Board of Directors. Councilman Mills moved to nominate Bing
8 Welch to serve as Chairman Pro-tem, seconded by Councilman Hankinson, and
9 on unanimous voice vote the motion was carried. Councilman Carter moved
10 the nominations be closed, seconded by Councilman Hankinson and on unani-
11 mous voice vote the motion was carried. Chairman Pro-Tem Welch presided
12 with the following members present: Messrs. Elstro, Williams, Hankinson,
13 Carter, Mills and Paust. Absent: Ahaus and Parker. The following business
14 was had, to-wit:
15
16 Councilman Hankinson moved to approve the minutes of the previous meeting as
17 prepared, seconded by Councilman Williams and on unanimous voice vote the
18 motion was carried.
19
20 Councilman Carter moved to approve the following bills, transfers and in-
21 vestments as submitted, seconded by Councilman Hankinson and on unanimous
22 voice vote the motion was carried.
23
24 APPROVE THE FOLLOWING:
25 Bills in the amount of $670,231 .63
26 Bonds and Interest Coupons 168,822.50
27 1 Payroll 97,735.17
28 Payment to City of Richmond in Lieu of 805,271 .00
29 Taxes
30
31 TRANSFER FROM THE CASH OPERATING FUND TO:
32 Cash Operating Fund 64,029.17
33 Bond Sinking Fund 71,115.42
34
35 INVESTMENTS PURCHASED:
36 * Cash Operating Fund 545,000.00
37 ** Cash Reserve Fund 411,642.09
38 ** Depreciation Reserve Fund 870,310.82
39 ** Bond Reserve Fund 45,574.47
40
41 Short Term Treasury Notes (repurchase agreement) yielding
42 10.5 to 11.5% interest
43
44 ** Investments maturing in 1 year, yielding 10.0 and 10.9%
45 interest.
46
47 Chairman Ahaus was out of the City.
48
49 General Manager Irving Huffman reviewed the 1979 operations of the Light
50 Plant, stating that there was a growth of 4.39%:kilowatt hours generated
51 and purchased increased by 3.36% and operating revenue increased 2.43%.
52 The net income had a decrease of 78.20% and the contribution to the civil
53 city decreased 3.56%. The depreciation fund (cash & investments) increas-
54 16.68% and interest on investments had an increase of 52.88%. The equity-
55 percentage of ownership is 73.23%. Customerwise there was an increase of
56 residential by 28, commercial 5, and industrial 4 for a net gain of 37.
57 The investment per dollar of sales is $2.37.
58
59 Mr. Huffman stated Mr. Johnson has worked out a formula for the recom-
60 mended purchase of transformers on a basis of the present worth of owning
61 and operating the transformers for thirty (30) years. Using this formula,
62 Mr. Huffman recommended the following purchases: 15-10 KVA transformers
63 to RTE; 30-25 KVA transformers to RTE: 20-50 transformers to Brownstown
64 Electric for McGraw-Edison; 3-100 KVA transformers to Howard Industries;.
RP&L Minutes. Cont.
January 21, 1980
Page 2
1 10-10 KVA transformers to Howard Industries; 20-25 KVA transformers to
2 Howard Industries; 10-50 KVA transformers to RTE; 3-100 KVA transformers
3 to Brownstown bidding G.E. ; 6-50 KVA transformers to Central Moloney;
4 1-750 KVA transformer to Brownstown Electric bidding G.E. ; and 1-500
5 KVA transformer to Brownstown Electric bidding G.E.
6
7 Mr. Huffman requested authorization to purchase the low evaluated bid-
8 ders as shown on the list.
9
10 Councilman Elstro moved to authorize Mr. Huffman purchase the low evalu-
11 ated bidders as shown on the list, seconded by Councilman Williams and
12 on unanimous voice vote the motion was carried.
13
14 City Attorney Ed Anderson examined proof of publication for distribution
15 transformers and found it to be in order.
16
17 Councilman Williams moved to accept and file the proof of publication,
18 seconded by Councilman Paust and on unanimous voice vote the motion was
19 carried. The following bids were received and recorded:
20"
21 Westinghouse Electric
22 four (4) 833 KVA transformers $8,215.00 each
23 four (4) 833 KVA. transformers, low loss 9,005.00 each
24
25 Dynaeltric
26 three (3) 833 KVA transformers 8,840.00 each
27 $26,520.00 total
28
29 RTE Corporation
30 three (3) 833 KVA transformers 9,639.00 each
31 $28,917.00 total
32
33 Councilman Mills moved the bids for transformers be referred to the
34 General Manager for tabulation, evaluation and recommendation, seconded
35 by Councilman Carter and on unanimous voice vote the motion was carried.
36
37 Mr. Huffman requested to receive bids for three (3) truck chassis, three
38 (3) truck bodies and three (3) aerial devices at the next meeting.
39
40 Councilman Paust so moved, seconded by Councilman Williams and on unani-
41 mous voice vote the motion was carried.
42
43 Mr. Huffman requested to receive bids for one (1) small truck at the
44 next meeting.
45
46 Councilman Elstro so moved, seconded by Councilman Paust and on unani-
47 voice vote the motion was carried.
48
49 Mr. Huffman handed out a list of vehicles the utility now has. .-
50
51 Mr. Huffman noted the Joint Agency Bill has been introduced in both
52 houses, has passed both committees and will be coming up for second
53 reading Wednesday. These,,bills cannot be combined so only one will
54 be passed.
55
56 Bing Welch
57 Chairman Pro-Tem
58
59 ATTEST: JoEllen Trimble
60 City Clerk