HomeMy Public PortalAbout09-06-1977 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, SEPTEMBER 6, 1977
1 The Common Council of the City of Richmond, Indiana, serving as
2 a board in charge of the operation of the Richmond Power & Light
3 Plant, met in regular session September 6, 1977 at the hour of
4 7:00 p.m. in the Municipal Building of said City. Mr. Ahaus
5 presided with the following members present: Messrs. Elstro,
6 Williams, Carter, Austerman, Merchanthouse, Paust and Cornett.
111 7 Absent: Mills. The following business was had, to-wit:
8
9 Mr. Williams moved to approve the minutes of the previous meeting
10 as prepared, seconded by Mr. Paust and on unanimous voice vote
11 the motion was carried.
12
13 Mr. Austerman moved to approve the following bills and invest-
14 ments purchased, seconded by Mr. Merchanthouse and on unanimous
15 voice vote the motion was carried:
16
17 APPROVE THE FOLLOWING:
18 Bills in the amount of $ 677,088.76
19 Interest Coupons 2,046.25
20 2 Payrolls 158,109.81
21 Additional transfer to Cash
22 Operating Fund 17,751.70
23
24 INVESTMENTS PURCHASED:
25 *Depreciation Reserve Fund 1,554,653.47
26 **Cash Reserve Fund 77,751.70
27 **Bond Sinking Fund 68,625 .01
28 **Cash Operating Fund 175,000.00
29
30 *C.D.'s maturing in 1 year, yielding 6 3/8%
111 31 **C.D. 's maturing in 4 months or less, yielding 5 1/2
32 to 5 3/4%
33
34 Mr. Ahaus announced an executive meeting will be held September
35 26 at RP&L at 7:00 p.m.
36
37 Mr. Cornett stated he had received a communication from a
38 constituent in the Reeveston area concerning the installation of
39 Padmont transformers on top of the ground. This had been
40 discussed with Mr. Austermah previously and Mr. Austerman had
41 sent a letter to this individual on March 23rd, so it is not
42 a new matter. Mr. Cornett had an agreement between the City
43 and the Reeveston area residents stating that all utilities
44 should be underground.
45
46 Mr. Cornett recommended that the Attorney for the utilities
47 look into the situation and give a ruling if this installation
48 is in violation of the agreement.
49
50 Mr. Huffman pointed out the disadvantages of having all
51 utilities underground.
52
53 The City Attorney is to have a ruling by the next meeting.
54
55 Mr. Ahaus requested each member have a copy of this agreement
56 by next meeting.
57
58 General Manager Irving Huffman discussed the recent TV
59 program covering all aspects involved in energy. One of the
60 most important factors is cost. The effectiveness of planning
61 hinges on the settlement with I&M. There must be power
62 plant planning and construction.
63
64 Mr. Austerman requested a report on September 26 as to the
65 policy of RP&L of running service to the nearest corner of a
66 house. He would like it made more to the convenience of the
67 customer.
RP&L Minutes Cont'd
September 6, 1977
Page 2.
1 There being.no further business on motion duly made,
2 seconded and passed the meeting was adjourned.
3 •
4 Rick Ahaus
5 Chairman
6
7 ATTEST: JoEllen Trimble
8 City Clerk