HomeMy Public PortalAbout01-16-1978 PROCEEDINGS OF THE..C.OMMON .COUNCIL .OF THE
CITY OF RICHMOND-, _INDIANA, SERVING AS •
A HOARD IN CHARGE OF THE_•OPERATION OF THE
RICHMOND POWER & LIGHT PLANT, JANUARY 16, 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
3 January 16, 19.78 at the hour. _of _7.:OO .p.m. in the Municipal'Building of said City.
4 Mr. Ahaus presided. with. the .following. memb.ers-.present: Messrs. Elstro, Williams,
5 Austerman, Merchanthouse,. Mills, Paust, .and Welch. Absent: Mr. Carter. The
6 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 was
10 carried. .
11 •
12 Councilman Austerman moved to approve the following .bills, transfers and
13 investments, seconded .by Councilman Merchanthouse and on unanimous voice vote the
14 motion was carried:
15
16 APPROVE THE FOLLOWING: . .
17 Bills in the amount of $ 155,474.24
18 _ Bonds & Interest Coupons 340,835.00
19 1 Payroll 90,866.47
20 . Payment to City in Lieu of Taxes 807,241.00
21
22 TRANSFERS FROM. CASH OPERATING FUND:
23 Depreciation Reserve Fund 26,547.04
24 Cash Reserve Fund 68,875.83
25 Utility Bond .Sinking .Fund 68,052.11
26
27 INVESTMENTS PURCHASED:
28 *Cash Operating Fund 890,000.00
29 **Cash Operating Fund 250,000.00
30 ***Cash Reserve Fund 140,000.00
31
ill32 * Short Term investments, yielding 5 5/8%
33 ** Short term investments, yielding 6 1/4%
34 *** C.D.' s maturing in 1 year, yielding 7 1/8%
35
36 Chairman Ahaus welcomed newly elected Councilman Bing Welch as a member of the
37 Board.
38
39 Chairman Ahaus announced there will be a meeting Monday, January 23rd at 7:00
40 p.m. at RP&L.
41
42 Chairman Ahaus announced the following committee appointments for the year 1978:
43
44 Finance Committee: Jim Carter, Chairman, Bing Welch and Tom Austerman
45 Employee Relations Committee: Ken Paust, Chairman, Ken Mills and Marion
46 Williams
47 Street Light Committee: Ken Mills, Chairman, Ken Paust, and Greg
48 Merchanthouse
49 Policy and Planning Committee: Tom Austerman, Chairman, Bing Welch,
50 Jack Elstro and Rick Ahaus
51
52 General Manager Irving Huffman announced that in the early part of January
53 RP&L transferred to the City $807,241.00 in lieu of taxes. This money was •
54 accumulated from July 1, 1976 to June 30, 1977. Mr. Huffman projects a
55 slightly higher dividend for next year based on what the tax rate may be and evaluation.
56
III 57 Mr. Huffman stated Leas Brothers Development Corporation made a presentation to the
58 Board last Monday evening. At the present time, this proposal is being studied
59 by Black &:Vea.tch and R.W. Beck. Their study results should be available at the
60 next meeting.
RP&L Minutes Cont.
January 16, 1978
Page 2
1 Mr. Huffman requested authorization to receive and open bids at the February 6,
2 1978 meeting for a new dump truck with a small blade. Councilman Austerman moved
3 this authorization be given, seconded by Councilman Mills and on a call of the roll
4 the following was recorded: Ayes: Elstro, Williams, Austerman, Merchanthouse,
5 Mills, Paust, Welch and Ahaus. Noes: None. The vote being eight (8) to zero (0)
6 in favor of passage of the motion.
7
8 Mr. Huffman requested authorization to receive and open bids at the February 6,
9 1978 meeting for a new "Mini-Sneaker" vibrating plow. Councilman Paust moved
10 this authorization be given, seconded by Councilman Elstro and on a call of the
11 roll the following was recorded: Ayes: . Elstro, Williams, Austerman, Merchanthouse,
12 Mills, Paust, Welch, and Ahaus. Noes: None. The vote being eight (8) to zero (0)
13 in favor of passage of the motion.
14
15 Mr. Huffman reported he has been in conversation with the Attorneys in
16 Indianapolis concerning Penn Central Line 633 and are now at a point where a
17 meeting should be held with the Penn Central Trustees and the State of Indiana to
18 settle what the rate will be as far as leasing the property of this abandoned
19 section of line. Since this section was not taken in as part of the State Rail
20 Plan, the Trustees are contending that the fees established at that time do not
21 prevail, and are proposing a much higher fee.
22
23 There being no further business on motion duly made, seconded and passed the
24 meeting was adjourned.
25
26 Rick Ahaus
27 Chairman
28
29 ATTEST: Jo Ellen Trimble
30 City Clerk