HomeMy Public PortalAbout07-16-1979 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, JULY 16, 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 July 16, 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, Paust
6 and Welch. Absent: None. The following business was had, to-wit:
7
8 Councilman Austerman moved to approve the minutes of the previous meeting. -
9 as prepared, seconded by Councilman Paust and on unanimous voice vote the
10 motion was carried.
11
12 Councilman Welch moved..to approve the following bills, transfers and
13 investments, seconded by Councilman Carter and on unanimous voice vote, the
14 motion was carried:
15
16 APPROVE-THE FOLLOWING:
17 Bills in the amount of $ 643,211.56
18 Bonds and Interest Coupons 220,475.00
19 l Payroll 91,557.14
20
21 TRANSFERS FROM THE-C-ASH' OPERATING FUND TO:.
22 Cash Reserve Fund 64,029.13
23 Depreciation Reserve Fund -0-.
24 Utility Bond Sinking Fund 68,188.35
25
26 INVESTMENTS PURCHASED:
27 * Cash Operating Fund 130,000.00
28 ** Cash Operating Fund 195,000.00
29 *** Utility Bond Reserve Fund 27,367.65
30 **** Utility Bond Reserve Fund 3,195.86
31 *** Cash Reserve Fund 265,275.26
32 **** Cash Reserve Fund 68,201.92
33 *** Depreciation Reserve Fund 164,468. 74
34 **** Depreciation Reserve Fund 100,739. 77
35 $ 954,249.20
36
37 * Short Term Treasury Notes, yielding 8. 75% interest
38 ** Treasury Notes maturing .11/21/79, yielding 9 '1/8%-interest
39 *** Treasury Notes maturing 1/4/80, yielding 9 1/8% interest
40. **** C.D.'s maturing 2/4/80, yielding 9% interest .
41
42 Chairman Ahaus announced the Executive Meeting will be Monday, July 23
43 following the Council Committee of the Whole meeting in the Board of Works
44 Room.
45
46 General Manager Irving Huffman stated R.W. Beck reported this evening that
47 they have been in contact with the State Indiana Air Pollution Control Board
48 concerning RP&L .seeking an application for burning oil. This request was
49 filed because the State Implementation Plan being not accepted until the
50 end of June. If the request was filed before the end of June, RR&L could
51 qualify for submitting a report and have less technical data supplied. The
52 indication is that the Board will cooperate by giving time to submit additional
53 data, which was omitted from the report. Beck went to Chicago %last week and
54 met with the EPA group. The violation data indicates that the eight quarter
55 period of pentence for non-attainment will be up in November of 1979.
III 56
57 Mr. Huffman stated that fourteen months. ago I&M-.filed..,a thirty percent increase.
58 The FEC granted a .grace. period; ,however, RP&L has...beeh:..paying, subject to
59 refund. The hearings on this =increase will start Thursday. Also, the
60 railroad hearings as far as the StateRail Plan begin: Friday at the PSCI
61 and RP&L will be represented there.
•RP&L Minutes Cont.
•
Jluly 16, 1979
\ Page 2
1 Mr. Huffman made Board-members aware--bf PURPA" (Public-_Utilities.-Regailatory
2 Policies Act) , (this requires collection of data from custoiiars for rate
3 • increases justification) . .Any utilities. with five.hundred million kilowatt
4 hours usage are subject to PURPA. RP&L would have to buy "four hundred
5 meters, ask permission. to hang them on customer`s' 'houses and redesign the
6 rate schedule for one or more -classes of customers. This would cost RP&L
7 approximately one-half million dollars.
8
9 There being•no further business on motion duly made, seconded and passed,
10 the meeting was adjourned.
11
12
13 Rick Ahaus
14 Chairman-
15 •
16 ATTEST: JoEllen Trimble.
17 City Clerk