HomeMy Public PortalAbout09-04-1979 PROCEEDINGS OF THE COMMON COUNCIL OF. THE
CITY OF RICHMOND, INDIANA, SERVING AS ABOARD
IN CHARGE OF THE OPERATION .OF THE RICHMOND POWER &
LIGHT PLANT, SEPTEMBER 4, 1979
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 September 4, 1979 at the hour of 7:00 p.m. in the Municipal
4 Building of said City. Chairman Ahaus presided with the following members
5 present : Messrs. Elstro, Williams, Austerman, Whitesell, Mills, Carter,
6 Paust and Welch. Absent: None. The following business was had, to-wit:
III 7
8 Councilman Williams moved to approve the minutes of the August 20 and August
9 6 meetings, as prepared, seconded by Councilman Paust and on unanimous voice
10 vote,, the motion was carried.
11
12 Councilman Carter moved to approve the following-bills, cash transfer to
13 the depreciation reserve fund and investments purchased as presented, seconded
14 by Councilman Welch and on unanimous voice vote, the motion was carried:
15
16 APPROVE THE FOLLOWING:
17 Bills in the amount of $ 8.25,104.52
18 Bonds and Interest coupons 2,205.00
19 2 Payrolls 184,941. 72
20
21 TRANSFER FROM DEPRECIATION RESERVE FUNDTO:
22 Cash Operating Fund 86,742.01
23
24 INVESTMENTS PURCHASED: -:
25 * .Cash Operating Fund 586,888.43
26 * Depreciation Reserve Fund 357,762.73
27 * Cash Reserve Fund 236,959.34
28
29 * Short term treasury notes, yielding 9.0% and 9.625%
30
31 , Chairman Ahaus announced the Executive Board will be meeting on September 24
32 at 7:00 p.m. at RP&L.
33
34 General Manager Irving Huffman reported there will be a preliminary meeting
35 on Thursday with American Electric Power_representatives for negotiations in
36 settlement of the rate case and negotiations for future contract. This
37 contract will replace the present contract through 1980. One topic of
38 discussion will be RP&L's reserve capacity. At the present time RP&L has to
39 provide by contract reserve capacity for one-half of the largest unit, which
40 is a sixty (60) megawatt unit, thus thirty (30) megawatts have to be provided.
41 RP&L feels there should bemeans for them to purchase this reserve at a reserve
42 price, which would be considerably less than the firm power they are now paying.
43 This would release the use of RP&L's second unit.. This would result in a
44 cheaper rate to RP&L from I&M.
45
46 Mr. Huffman reported that tomorrow the Public Service Commission of Indiana
47 is going to hold hearings on up-dating the State Rail Plan. One of the proposals
48 is that the State of Indiana pay fifty percent (50 ) of the non-Federal
49 subsidy for the operation- of those lines now being subsidized. Mr. Huffman will
50 offer testimony in behalf of RP&L stating we support the States proposed change
51 in the operation of the State Rail Plan in that we are encouraging the State
52 to pay fifty percent (50%) o.f the subsidy. Line 633 is a line which has required
53 very little subsidy: Of the nine (9) lines now being subsidized in the State,
54 the subsidy payment per car is -the lowest for line 633 of all nine (9) . The
III55 subsidy payment proposed for 1980 is $9.06 per car. - The non-Federal subsidy
56 is twenty percent (20%) of that amount. The proposed budget indicates RP&L will
57 be paying $19, 764. This represents a minimum savings of $200,000 to the
58 consumers. The proposar is for the State to pay one-half of the subsidy, or
59 roughly $10,000. Others along the route of this Line also benefit from the
60 use of the line. RP&L is currently paying the whole subsidy.
61
'62 There being no further business on motion duly made, seconded and passed, the
63 meeting was adjourned.
64 Rick Ahaus
65 ATTEST: JoEllen Trimble Chairman
66 City Clerk