HomeMy Public PortalAbout04-03-1978 •
PROCEEDINGS OF THE COMMON COUNCIL OF THE
CITY OF RICHMOND, INDAINA, SERVING AS
A BOARD IN CHARGE OF THE OPERATION OF THE
RICHMOND POWER & _LIGHT PLANT, APRIL 3, 1978
1 The Common 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-April
3 3, 1978 at. the hour of 7:00 p.m. in the Municipal Building of said City. Mr.
4 Ahaus presided with the following -members present:_ Messrs. Elstro, Williams,
5 Austerman, Merchanthouse, Mills, Carter, Paust, and Welch. Absent: None. The
6 following business was had, to-wit:
7 •
III 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 was
10 carried. '
11
12 Councilman Welch moved to approve the .following bills and investments, seconded by
13 Councilman Austerman-and on unanimous voice vote, the. motion was carried:
14
15 APPROVE THE FOLLOWING: .
16 Bills in the amount of $ 162,037.43
17 Bonds and Interest Coupons 125.00
18 1 Payroll 84,184.84
19
20 INVESTMENTS PURCHASED:'
21 *Cash Operating Fund 500,000.00
22 **Cash Operating Fund 500,000.00
23 ***Cash Operating Fund 370,000.00
24
25 *C.D. maturing in 30 days, yielding 6.175% .
26 **C.D. maturing in 60 days, yielding 6..275%
27 ***U.S . Treasury Note maturing in 1 year, yielding. 7.18%
28
29 Councilman Welch noted there were two (2) bills for coal still at $18.00 per ton.
30
31 General Manager Irving Huffman stated Indiana & Michigan Electric advised RP&L last
32 week that- they have now gone off of the manditory curtailment program and gone back
33 to voluntary curtailment. RP&L has not gone back to using all the power that has
34 been used in the past and have picked .up normal loads with their own unit. I&M
35 fuel clause costs have been projected for the month of April, which encourages RP&L
36 to generate more of their own power as there is a slight break if they do this.
37 RP&L should have some coal being. shipped to them tommorrow from a union mine.
38 RP&L hopes to- do some stock piling as the price of non-union mines is starting to
39 drop drastically.
40
41 - There being no further business on motion duly made, seconded and passed, the
42 meeting was adjourned.
43
44 Rick Ahaus
45 Chairman
46
47 ATTEST: JoEllen Trimble
48 City Clerk