HomeMy Public PortalAbout04-18-1977 PROCEEDINGS OF THE COMMON COUNCIL OF THE
CITY OF RTCHM)ND, INDTANA, SERVING AS
A BOARD IN CHARGE OF THE OPERATION OF THE
RIC MIND POWER & LIGHT PLANT, APRIL 18, 1977
1 The Common Council of the City of Richmond, Indiana, serving as a
2 board in charge of the operation of the Richmond Power .& Light
3 Plant, met in regular session April 18, 1977, at the hour of 7:00
4 p.m. in the Municipal Building Of said City. Mr. Ahaus presided
5 with the following members present: Messrs. Elstro, Williams,
6 Carter, Austerman, Merchanthouse, Mills , Cornett and Paust.
7 Absent: None. The following business was had, to-wit:-
8
9 Mr. Austerman moved to approve the minutes of the previous meeting
10 as prepared, seconded by Mr. Mills and on unanimous voice vote the
11 motion was carried.
12
13 Mr. Austerman moved approval of the following bills, transfers and
14 investments, seconded by Mr. Carter and on unanimous voice vote
15 the motion was carried.
16
17 APPROVE THE FOLLOWING:
18 Bills in the amount of $363,981.04
19 Interest Coupons 81.25
20 1 Payroll 80,446.25
21
22 TRANSFER FROM CASH OPERATING FUND TO:
23 Depreciation Reserve Fund • $ 91,000.00
24 Utility Bond Fund 68,875.00
25 Cash Reserve Fund 60,000.00 =
26
27 INVESTMENTS PURCHASED
28 *Depreciation Reserve Fund $ 91,000.00
29 *Cash Reserve Fund 60,000.00
30 **Utility Bond Sinking Fund 68,875.0031 ***Cash Operating Fund 200,000.00
32
33 *C.D. 's Maturing 12/30/77, yielding 5 1/4%
34 **C.D. 's Maturing 7/1/77, yielding 5%
35 ***Short Term Investments, yielding 4%
36
37 Mr. Ahaus announced there will be a meeting at RP&L at 7:00
38 p.m. on April 25th. Mr. Austerman stated he will be out of
39 town and unable to attend this meeting.
40
41 Mr. Huffman reported that because of the new County: Building it
42 was necessary to install a 500 KVA Network Transformer. This is
43 a system that is designed so that if you would °lose- one transformer
44 other transformers will pick up the load in the area, and the
45 failure itself will- clear itself.. Since they spare transformer
46 has been used for this new building, it is now necessary to replace
47 this spare transformer and Mr. Huffman now requests authorization
48 to receive bids for this 500 KVA transformer.
49
50 Mr. Mills moved Mr. Huffman be authorized to receive bids for a
51 500 KBA transformer, seconded by W. Paust and on unanimous voice
52 vote the motion was carried.
53
54 Mr. Huffman noted that President Carter's message on the energy
55 problem will be released tonight. The public realizes there is
56 an energy problem, that our energy supply is running out and we
57 must do something different. Hopefully, the plan outlined will
58 be a good plan that the public will want to get behind.
59
60 There being no further business on motion duly made, seconded
61 and passed the meeting was adjourned.
62
63 Rick Ahaus
64 Chairman
65
66 AT1EST: JoEllen Trimble -
67 City Clerk