HomeMy Public PortalAbout11-15-1976 PROCEEDINGS OF THE COMMON COUNCIL OF THE
CITY OF RICHMOND', INDIANA, SERVING AS
A COMMITTEE IN CHARGE OF THE OPERATION OF THE
RICHMOND POWER & LIGHT PLANT, NOVMEBER 15, 1976
1 The Common Council of the City of Richmond, Indiana, serving as a
2 committee in charge of the Richmond Power & Light Plant, met in
3 regular session November 15, 1976, at the hour of 7:00 p.m. in the
4 Municipal Building of said City. Mr. Ahaus presided with the
5 following members present: Messrs . Austerman, Carter, Cornett,
6 Elstro, Merchanthouse, Mills and Paust. Absent: Mr. Williams .
7 The following business was had, to-wit:
8
9 Mr. Mills moved to approve the minutes of the previous meeting,
10 seconded by Mr. Carter and on unanimous voice vote the motion was
11 carried.
12
13 Mr. Carter moved to approve the following bills, transfers and in-
14 vestments purchased, seconded by Mr. Cornett and on unanimous voice
15 vote the motion was carried.
16
17 , APPROVE THE FOLLOWI'NG:
18 - Bills in the amount of $ 387,130.67
19 Interest Coupons 7,030.00
20 Payroll 76,063.88
21
22 TRANSFERS FROM CASH OPERATING FUND TO:
23 Depreciation Reserve Fund 91 ,000.00
24 Cash Reserve Fund 60,000 .00
25 Utility Bond Fund 68,937 .48
26
27 INVESTMENTS PURCHASED:
28 * Cash Operating Fund 505,000.00
29
30 31 * C.D. 's Maturing in 1 year, yielding 6%
32 Mr. Ahaus announced there will be a budget review meeting on
33 November 22 at 7:00 p .m. at RP&L.
34
35 General Manager Irving Huffman reported that RP&L has been trying
36 to negotiate with I&M for quite some time, and has had difficulties
37 as I&M has been involved in a retail rate case and Federal rate
38 case . Discussions have been concerning an interchange contract. _
39 One portion of the, contract which has caused a hang-up is dedicated
40 reserves . To date it has not been established that they are at an
41 impasse but this is trying to be determined. If RP&L and I&M do
42 hit an impasse, RP&L will have to decide what avenues to follow.
43 RP&L has had conversation with other power companies to discuss
44 possible contracts with them.
45
46 Mr. Austerman gave a petition to the Street Light Committee from
47 people in Country Club Hills addition.
48
49 There being no further business on motion duly made, seconded and
50 passed, the meeting was adjourned.
51
52 Rick Ahaus
53 Chairman
54
55 ATTEST: JoEllen Trimble
56 City Clerk