HomeMy Public PortalAbout06-04-1979 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, JUNE 4, 1979
1 The Cowman Council of the City of Richmond, Indiana, serving as a Board in charge
2 of the operation of the Richmond Power & Light Plant, met in regular session
3 June 4, 1979 at the hour of 7:00 p.m. in the Municipal Building of said City.
4 Councilman Ahaus presided with the following members present: Messrs. Elstro,
III5 Williams, Austerman, Whitesell, Mills, Carter, Paust and Welch. Absent: None.
6 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 Carter moved to approve the following bills only as the investments
13 were not received for examination, seconded by Councilman Welch and on unanimous
14 voice vote, the motion was carried:
15
16 APPROVE THE FOLLOWING:
17 Bills in the amount of $ 941,041.68
18 Bonds and Interest Coupons -0-
19 1 Payroll 90,999.53
20
21 INVESTMENTS PURCHASED:
22 * '..Cash Operating Fund 1,332,000.00
23 ** ':Cash Operating Fund 525,000.00
24 * Depreciation Reserve Fund 51,050.22
25 *** Depreciation Reserve Fund 2,275,431. 72
26 *. Cash Reserve Fund 67,105 .92
27 * ,Bond Sinking Fund 71,537.18
28 **** Bond Reserve Fund 199,947.20
29
30 * Short Term Investments, yielding 9.0%
31 ** U.S . Treasury Notes, maturing 10/19/79, yielding 9.625%
32 *** U.S . Treasury Notes, maturing 3/81, yielding 9.625%
33 **WC.D. maturing in 1 year, yielding 9.25%
34
35 Chairman Ahaus announced three members will be attending the APPA meeting June
36 15th through the 20th in Seattle.
37
38 General Manager Irving Huffman stated material was presented last Friday to
39 the Commission for fuel clause reduction. The Commission has not yet ruled on
40 the hearing. The fuel clause that is requested is a very sizable reduction,
41 much greater than I&M. It will be $1.31 per every 1000 kilowatt hour of usage.
42 Mr. Huffman stated the fuel clause will no longer appear on the bill.
43
44 Mr. Huffman recommended the bid of Tom Brookbank Chevrolet for a new 1979
45 pick-up truck in the amount of $6,164.33 less trade-in of $1,505. 33 with a net
46 difference of $4,659.00 be accepted. Councilman Mills so moved, seconded by
47 Councilman Carter and on a call of the roll, the following was recorded: Ayes:
48 Elstro, Williams, Austerman, Whitesell, Mills, Carter, Paust, Welch_ and Ahaus:
49 Noes:< None. The vote being nine (9) to zero (0) in favor of passage of the
50 motion.
51
52 There being no further business on motion duly made, seconded and passed, the
53 meeting was. adjourned.
III 54
55 ' Rick Ahaus
56 Chairman
57
58 ATTEST: JoEllen Trimble
59 City Clerk