HomeMy Public PortalAbout07-17-1978 PROCEEDINGS OF THE COMMON COUNCIL OF THE
CITY OF RICHMOND, INDIANA, SERVING AS
A BOARD IN CHARGE OF THE OPERATION OF TNF
RICHMOND POWER & LIGHT PLANT, JULY 17, 1978 -
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 17, 1978 at the hour of 7:00 p.m. in the Municipal Building of
4 said City. Councilman Ahaus presided with the following members present:
5 Messrs. Williams, Austerman, Mills, Carter, Paust, Welch and Elstro. Absent:
6 Councilman Merchanthouse. The following business was had, to-wit:
7
8 Councilman Williams moved to approve the minutes of the previous meeting,
9 - as prepared, seconded by Councilman Mills and on unanimous voice vote, the
10 motion was carried.
11
12 Councilman Welch moved to approve payment of the following bills as presented,
13 seconded by Councilman Carter and on unanimous voice vote, the motion was
14 carried:
15
16 APPROVE THE FOLLOWING:
17 Bills in the amount of $ 637.325.54
18 Bonds and Interest Coupons 53,316.25
19 Payroll 86,154.95
20
21 TRANSFERS FROM CASH OPERATING FUND TO:
22 Cash Reserve Fund 67,105.88
23 Depreciation Reserve Fund . 35,529.04
24 Utility Bond Sinking Fund 69,260.44
25
26 INVESTMENTS PURCHASED
27 *Cash Reserve Fund 211,055.41
28 *Depreciation Reserve Fund 39,206.09
29 **Cash Operating Fund 100,000.00
30
31 *U.S . Treasury Bonds Maturing in 6 months, yielding 8.05%
32 **Short Term Investment 7.25% for 42 days
III 33
34 Chairman Ahaus announced the executive board meeting will be Monday, July
35 24, 1978 at 7:00 p.m.
36
37 Mr. Delmar Cox, Office Manager of RP&L, presented a prepared statement by Mr.
38 Huffman about Rail Line 633. The. Indiana Public Service is required to
39 update the State Rail Plan. A hearing was held last Thursday and Mr.
40 Huffman submitted testimony. No invoices for subsidy payments have been
41 recieved so far. The line is being kept open for RP&L and its customers. The
42 assumption is that it is operating without need of subsidy.
43
44 Councilman Welch inquired if a contractual agreement has been arrived at, if
45 the line is being maintained and if we are liable for any of those charges. Mr.
46 Cox replied there is no written contract as far as insurance is concerned but
47 it is being investigated.
48
49 Councilman Welch stated he understands we are losing 1 or 2 valuable employees,
50 to which Mr. Cox said Mr. Huffman is interviewing replacements.
51
52 There being no further business on motion duly made, seconded and passed, the
53 meeting was adjourned.
54
55 Rick Ahaus
56 Chairman
57 -
58 ATTEST: JoEllen Trimble
59 City Clerk
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