HomeMy Public PortalAbout01-03-1978 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, JANUARY 3, 1978
1 The Common Council of the City of Richmond, Indiana, serving as a board
2 in charge of the operation of-the Richmond Power E Light Plant, met .
3 in regular session January 3, 1978 at the hour of 7:00 p.m. in the
4 Municipal Building of said City. Mr. Ahaus presided with the following
5 members persent: Messrs Elstro, Williams, Carter, Austerman, Mills, and
6 Paust. Absent: Merchanthouse. The following business was had, to wit:
7
8ill Mr. Ahaus announced the floor open for nominations to elect a Chairman
9 and Vice Chairman for the year 1978.
10
11 Mr. Mills moved that Mr. Ahaus be chairman of the Board of Directors of
12 RP&L, seconded by Mr. Paust.
13
14 Mr. Mills moved the nominations be closed, seconded by Mr. Austerman
15 and on unanimous voice vote the motion was carried.
16
17 On the motion of Mr. Mills that Mr. Ahaus be Chairman by unanimous
18 voice vote the motion was carried.
19
20 Mr. Austerman moved that Mr. Paust be nominated for Vice Chairman,
21 seconded by Mr. Mills.
22
23 Mr. Mills moved the nominations be closed, seconded by Mr. Austerman
24 and on unanimous voice vote the motion was carried.
25
26 On the motion of Mr. Austerman that Mr. Paust be Vice Chairman by
27 unanimous voice vote the motion was carried. .
28
29 Mr. Williams moved to approve the minutes of the previous meeting as
30 prepared, seconded by Mr. Carter and on unanimous voice vote the motion
31 was carried.
III 32
33 . Mr. Austerman moved to approve the bills and investments as follows,
34 seconded by Mr. Carter and on unanimous voice vote the motion was carried:
35
36 APPROVE THE FOLLOWING:
37 Bills in the amount of $ 981,819.63
38 Interest Coupons None
, 39 1 Payroll 86,669.72
40
41 INVESTMENTS PURCHASED:
42 *Depreciation Reserve Fund $ 821,056.40
43 *Utility Bond Reserve 73,772.90
44 *Consumers Deposit Fund 95,892.50
45 **Cash Reserve Fund 643,698.00
46 **Cash Operating Fund 170,000.00
47
48 *C.D. 's Maturing in 1 year, yielding 7 1/8% interest
49 **Short term investments, yielding 5 1/2% interest
50
51 Mr. Ahaus called a special meeting for Monday, January 9, 1978 at 7:00 p.m.
52 at RP&L. The purpose of this meeting is to meet with a representative
53 presenting a proposal dealing with coal gasification, using RPEL as a
54 pilot program.
55
56 Mr. Ahaus announced he will wait until the new member is selected for
III57 Council to announce committee appointments. This will be done on January 16.
58
59 General Manager Irving Huffman stated on Friday, December 30, representatives
60 of RPTL, I&M, and-American Electric Power met to sign the interchange contract
61 and release settlements. This brings to a conclusion a five (5) year struggle
62 to obtain a workable contract for RPFL and its consumers. That same
63 afternoon the settlement aggrement and proposed interchange contract was
64 filed with the Federal Energy Regulatory Commission for their acceptance.
RP$L Minutes Cont.
January 3, 1978
Page 2
65 In the contract a built in escalutor is provided at the time I&M Cook
66 Unit No. 2 goes on line. This seems to be fair. •
67
68 Mr. Huffman announced the bids for a 1/2 ton pick-up truck received at the
69 last meeting have been tabulated and the lowest and best bid is from Kurdys
70 Brookbank Chevrolet at a cost of $3,550.00. He recommends purchase of this
71 truck and would like to have authorization to make this purchase. W. Williams
72 so moved, seconded by Mr. Paust.
73
74 Mr. Ahaus pointed out that by the procedures set up at the last meeting, there
75 must be unanimous consent of all present to act on this motion, since it was
76 not presented to members forty-eight (48) hours in advance.
77
78 Mr. Austerman moved to allow the vote to take place at this meeting,
79 seconded by Mr. Mills and on unanimous voice vote, the motion was carried.
80
. 81 On unanimous voice vote, Mr. Williams motioned for authorization was passed..
82
83 Mr. Bistro announced a meeting of the Street Light Committee for the subdivision
84 Ordinance to be held January 12, 1978 at 7:30 p.m. at RPEL.
85
86 There being no further business on motion duly made, seconded and passed,
87 the meeting was adjouned.
88
89 Rick Ahaus
90 Chairman
91
92 ATTEST: Jo Ellen Trimble
93 City Clerk