HomeMy Public PortalAbout10-01-1979 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, OCTOBER 1, 1979
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 October 1, 1979 at the hour of 7:00 p.m. in the Municipal Building of
4 said City. Chairman Ahaus presided with the following members present: Messrs.
5 Elstro, Williams, Austerman, Whitesell, Mills, Carter, Paust and Welch.
6 Absent: None. The following business was had, to-wit:
7
8 Councilman Williams moved to approve the minutes of the previous meeting as
9 prepared, seconded by Councilman Mills and on unanimous voice vote, the motion
10 was carried.
11
12 Councilman Welch moved to approve the following bills, investments, and transfers,
13 seconded by Councilman Carter and on unanimous voice vote, the motion was carried:
14
15 APPROVE THE FOLLOWING:
16 Bills in the amount of $878,368.09
17 Bonds and Interest Coupons 1,352.50
18 1 Payroll 90,617.11
19
20 INVESTMENTS PURCHASED
21 * Cash Operating Fund 510,000.00
22 ** Depreciation Reserve Fund 476,796. 70
23
24 * Short term.:,freasury notes, yielding 10.5% interest
25 ** C.D.'s maturirg in 1 year, yielding 9.0% interest
26
27 TRANSFERS FROM=DEPRECIATION -RESERVE-FUND -TO:
28 Cash Operating Fund 31,490.33
29
30 Chairman Ahaus announced the Executive Committee will met at RP&L at 7:30 p.m.
III 31 on October 22.
32
33 General Manager Irving Huffman reported RP&L has been involved in trying to
34 get a joint agency bill through for some time. The bill..passeddboth houses,
35 however, it was vetoed by the Governor. The veto was then overridden. This
' 36 was done in a special session, so it was questionable whether or not the veto
37 was legally overridden. It then was decided to start over with a better bill.
38 Last year the bill was introduced, which passed the House completely but was
39 never brought up in committee hearing in the Senate. Mr. Huffman checked with
40 the Attorney of PSCI noting it is the desire of IMEA that this type of.
41 legislation is needed which would permit all Municipals in Indiana to join
42 together or with privately-owned utility -companies in trying to build generating
43 facilities. Mr. Huffman has been appointed chairman of the joint action committee
44 of IMEA which has been meeting monthly for the last four (4) months. He was
45 advised by the Attorney that the bill may have some language on it which may be
46 offensive to some power companies; however, it is hoped an agreement can be
47 worked out. The bill is in good shape according to the PSCI. There has been no
48 opposition to the concept of the bill, but there has been opposition to the
49 gymnastics. It is hoped the bill will be ready for the short session. There
50 may be some opposition from REMCs as' they will be trying to get their bill
51 through which is protection of territory. The joint agency bill would assure
52 the citizens of Richmond a good power supply at a cheaper cost.
53
54 Councilman Whitesell requested the Street Light Committee consider a street
III55 light in the alley at 608 Peacock.
56
57 There being no further business on motion duly made, seconded and passed, the
58 meeting was adjourned.
59
60 Rick Ahaus '
61 Chairman
62 ATTEST: JoEllen Trimble
63 City Clerk