HomeMy Public PortalAbout11-07-1977 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, NOVEMBER 7, 1977
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 November
3 7, 1977 at the hour of 7:00 p.m. in the Municipal Building of said City. Mr. Ahaus
4 presided with the following members present: Messrs. Elstro, Williams, Carter,
5 Austerman, Merchanthouse, Mills, Paust and Cornett. Absent: None. The following
6 business was had, to-wit:
7
11/ 8 Mr. Williams moved to approve the minutes of the previous meeting as prepared,
9 seconded by Mr. Mills and on unanimous voice vote the motion was carried.
10
11 Mr. Carter moved to approve the following bills and investments purchased, seconded
12 by Mr. Austerman and on unanimous voice vote the motion was carried.
13
14 APPROVE THE FOLLOWING:
15 Bills in the amount of $ 1 ,115,954.64
16 Interest Coupons None
17 1 Payroll $ 84,244.65
18
19 INVESTMENTS PURCHASED:
20 *Depreciation Reserve Fund $ 209,720.83
21 *Utility Bond Reserve Fund 5,336.24
22 **Cash Reserve Fund 63,709.88
23 **Cash Operating Fund 277,874.59
24
25 *C.D. 's maturing in 1 year, yielding 6 7/8 and 7 1/8%
26 **Short term C.D. 's, yielding 5 and 6 1/4%
27
28 Mr. Ahaus announced there will be an executive meeting on Monday, November 28 at
29 RP&L at 7:00 p.m.
30
31 Mr. Austerman reported he has asked each Board member to review the recommendations
III32 provided them concerning drafting Procedures for the Board of Directors, and add
33 their recommendations. He asked recommendations be ready for presentation at the
34 November 28 Board meeting.
35
36 Mr. Austerman reported the Policy and Implementation Committee has met and reviewed
37 several items listed under duties of the Board of Directors. They are prepared to
38 start drafting recommendations which would have to do with certain committee assign-
39 ments, including approval of procedures regarding other non-bargaining employees,
40 making that a duty of the Employee-Relations Committee and approval of bargaining
41 parameters in monitoring compensation increases. The management has reported they
42 will initiate a coal and procurement policy along with a complete purchasing
43 policy some time in December or January. They are also recommending the Policy
44 and Implementation Committee be renamed the Policy and Planning Committee and be
45 made a permanent committee of the Board.
46
47 General Manager Irving Huffman reported Indiana & Michigan was required by the
48 Federal Power Commission to file an agreement which would provide RP&L maintenance
49 power so maintenance could be done on RP&L units when necessary. As a result of
50 this order I&M has come up with a maintenance power agreement, subject to RP&L's
51 approval . RP&L has submitted a proposal for settlement to I&M but have not as
52 yet heard from this proposal .
53
54 Mr. Huffman reported an order has been received from the Public Service Commission
55 that Penn Central Line 633 will be in operation for a period of sixty (60) days,
56 which allows time to get the Short Line operator set up on a permanent basis.
III57 Conrail has been conducting studies to drop lines from a point in Indianapolis to
58 the state line or Dayton, so the short line operator may become a longer line
59 operator. Legislation has been presented which would require Amtrak to negotiate
60 with Penn Central to pick up this segment of line. This line is profitable for
61 a short line operator.
62
63 Mr. Elstro requested Mr. Meredith meet with Bob Rees and Mr. Elstro concerning the
64 type of lighting for Cutter's Corner.
65
66 There being no further business on motion duly made, seconded and passed the
67 meeting was adjourned.
68
69 Rick Ahaus
70 Chairman
71 ATTEST: JoEllen Trimble
72 City Clerk