HomeMy Public PortalAbout07-02-1979 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 2, 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 July 2, 1979 at the hour of 7:00 p.m. in the Municipal Building of
4 said City. Councilman Welch presided in the absence of Councilman Ahaus
5IIIwith the following members present: Messrs. Elstro, Williams, Austerman,
6 Whitesell, Mills, Carter and Paust. Absent: Ahaus. The following business
7 was had, to-wit:
8
9 Councilman Austerman moved to approve the minutes of the previous meeting as
10 prepared, seconded by Councilman Paust and on unanimous voice vote the motion
11 was carried.
12
13 Councilman Carter moved to approve the following bills and investments as
14 presented, seconded by Councilman Austerman and on unanimous voice vote
15 the motion was carried:
16
17 APPROVE THE FOLLOWING:
18 Bills in the amount of $1,002,964.92
19 Bonds and Interest Coupons -0-
20 1 Payroll 93,783.49
21
22 INVEESTMENTS PURCHASED:
23 * Cash Operating Fund 240,000.00
24 ** Cash Operating Fund 152,894.08
25 ** Cash Reserve Fund 67,105.92
26 *** Depreciation Reserve Fund 366,188.62
27 *** Utility Bond Reserve Fund 123,892.41 . .
28 TOTAL 950,081.03
III 29 •
30 * Short term Treasury Notes, yielding 9%
31 ** Treasury Notes maturing 11/21/79, yielding 9.50% .
32 *** C.D. 's maturing 6/13/80, yielding 9.25%
33
34 General Manager Irving Huffman reported RP&L has been given information by
35 the U. S. Rail Administration that old Penn Central Line 633 has been profit-
36 able; however, a tally as to what the charges might be had not 'been received.
37 - RP&L has now received their first bill which runs from April 1, 1978 through
38 March 31, 1979. The total subsidy cost is $9,804.00, which is the portion
39 the State would be charged under the State Rail Plan; however, RP&L has
40 guaranteed all the State's payments.
41
42 Councilman Mills reported he has received two (2) requests for the Street
43 Light Committee from Mr. Paul Lingle, Lingle Real Estate, for lights in
44 Sec. 2 of Meadow Park and Sec. 1 of Backmeyer Trace.
45
46 There being no further business on motion duly made, seconded and passed the
47 meeting was adjourned.
48
49 Bing Welch
50 Acting Chairman
51
52 A1'1'.EST: JoEllen Trimble
53 City Clerk