HomeMy Public PortalAbout08-20-1979 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, AUGUST 20, 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 August 20, 1979 at the hour of 7:00 p.m. in the Municipal Building
4 of said City. Chairman Ahaus presided with the following members present:
5 Messrs. Elstro, Williams, Whitesell, Mills, Carter, Paust, and Welch. Absent:
6 Austerman. The following business was had, to-wit:
III 7
8 Chairman Ahaus announced that since the minutes of the last RP&L meeting had
9 not been -returned, they would be approved at the next meeting.
10
11 Councilman Welch moved to approve the following bills, transfers and
12 investments, seconded by Councilman Carter and on unanimous voice vote, the
13 motion was carried:
14
15 APPROVE THE FOLLOWING:
16 Bills in the amount of $348,225.98
17 Bonds and Interest Coupons 19,680.00
18 1 Payroll 95,037.94
19
20 TRANSFERS FROM THE CASH OPERATING FUND TO:
21 Cash Reserve Fund 64,029.17
22 Depreciation Reserve Fund -0-
23 Utility Bond Sinking Fund 68,188.34
24
25 INVESTMENTS PURCHASED:
26 * Cash Operating Fund 390,000.00
27 * Depreciation Reserve Fund 67,994.00
28 ** Cash Reserve Fund 213,086.40
29 ** Bond Sinking Fund 44,500.00
III30 ** Bond Reserve Fund 2,251.82
31
32 * C.D. 's maturing 8/22/79, yielding 8.75% interest
33 ** C.D. 's maturing 1/4/80, yielding 9.125% interest
34
35 Chairman Ahaus announced the Executive Meeting will be held August 28, 1979 at
36 7:00 p.m. at RP&L.
37
38 Mr. Bond was present to complain of problems on his land in the Test Road area.
39 Chairman Ahaus informed him they are aware of the problem and are working on it.
40
41 General Manager Irving Huffman, having been on vacation, had very little to
42 report. Be said that sales have been good during the hot weather.
43
44 Chairman Ahaus asked about developments in the I&M rate case, to which Mr.
45 Huffman replied that we are now waiting for the Administrative Law Judge to make
46 his ruling, which could take several months. We have had some contact with I&M
47 trying to arrive at some sort of negotiation as far as a settlement is concerned,
48 and a future meeting is to be held as to the contract and possible changes in
49 the contract.
50
51 There being no further business on motion duly made, seconded and passed, the
52 meeting was adjourned.
53
54 Rick Ahaus
55 Chairman
56 ATTEST: Nancy V. Beach
57 First Deputy City Clerk