HomeMy Public PortalAbout07-19-1976 PROCEEDINGS OF THE COMMON COUNCIL OF THE
CETY`.OF RICHMOND, INDIANA, SERVING AS
- .A COMMI•'TTEE IN CHARGE OF THE OPERATION OF THE
. RTCHMOND POWER & LIGHT PLANT, JULY 19, 1976
1 The Common Council of the City of Richmond, Indiana, serv3n'ggaSs a committee in
2 charge of the Ri..chmond Power 1- Light Plant, met in regular session July 19, 1976 ,
3 at the hour of 7:00 P.M. .in the Municipal Building of said City. Mr. Ahaus presided
4 wi'th the following members present: Messrs. Austerman , Carter, Elstro, Mills ,
5 - aunt, and Williams. Absent: Messrs. 'Cornett and Merchanthouse. The following
6 business was had, to-wit: -
7
8 Mr. Williams moved to approve the minutes of the previous meeting, seconded by Mr.
9 Mills and on- unanimous voice vote the motion was carried.
1G-
11 Mr/ Carter moved approval of the following bills , transfers and investments purchased,
- 12 seconded by Mr. Paust and on unanimous.voice vote the motion was carried:
13 .
14 APPROVE: THE FOLLOWING
15 Bills- in the amount of $ 459,130.94
16. Interest Coupons 77,166.25
17 1 Payroll 74,293.65
18
19 TRANSFERS FROM CASH OPERATING FUND TO:
2G Depreciation Reserve Fund $ 91 ,000.00
2.1 Utility Bond Fund 68,937.60
22 Cash Reserve Fund 60,000.00 -
23
24 IN'VESTME:NTS PURCHASED
25 Depreciation Reserve Fund $ 91 ,000.00
26 Cash Reserve Fund 60,000.00
27 Utility Bond Fund 169,937.00
28
29 •G C.D.0 's.Maturi:ng 12/30/76, yielding-5 1/2%
-_ 31 Mr.- Maus announced Wednesday, August 4, at 7:00 -P.M. is 'the tentative date set for
32 a meeting with. representatives of Spiegel & McDiarmid, attorneys , giving a briefing
33 -pf- h&M negotiations. ' August 10 at 7:00 P.M. the Board will be meeting with Ernst
34 & E;rns.t.
35
36 Mr. Irving Huffman, General Manager, reported he was in Washington last Monday,
37 July 21 , with. RP&L attorneys and the new administrative law judge was conducting
38 hearings. There has been little change in the last four (4) years. He advised
39 the group- that one of the big things the. Commission is addressing itself to is the
40 ' Commission is pushing total settlements between parties. RP&L has used this
41 approach since the beginning. If the Federal Power Commission is going to do the
42 job,- they have to exert pressure to all parties to get equitable settlement. The
43 Commisston has told the Judge to get on with the case. If the Commission wants to
44 make a decision , either party can appeal. An equipable settlement would eliminate
45 further legal fights. We appeared before the Federal Power Commission on July 13
46 and 14 concering increase by M. Demand ratchet has been reduced back to sixty
47 ' percent (60%) - previously based on sixty percent (60%) of all time high and
48 contract called for sixty percent (60%) of previous year high. We have contested
49 I&M figuring of fuel clause.
50 .
51 ' Mr. Huffman thanked Mayor .Dickman and his staff, Chief of Police Chris and his
52 staff and RP&L staff for jobs well done during the hearings held July 16 before
5.3 the house Subcommittee on Oversight and Investigations. He stated that RP&L has
5.4 received a copy of the original draft of the proposed ontract from I&M. We
55 submitted our proposal and we now have each other's proposals so, hopefully, we
56 can come up with a contract that will be beneficial to all . Previously, we have
-57 made our offer broad enough so we can do business with American Electric Power and,
58 also, other companies , if it would be equitable with- all parties.
59
60 Mr. Huffman is encouraged to see hearings like this conducted as we have been
61 telling our story to the public_ fo rs-:many years. We seem to have come to a time
62 Oen we have continually asked for change in the Federal Power Act. A change in
63 - legi,'slati'on may be required. Whenever you have something that isn 't working,
64 you must have changes.
RP&L Minutes.} Cont'd
July 19, 1976
Page. 2
1 The Chief Counsel for the Public Service Commission commented he is working with
2 a short staff. This can be a problem as their work load has also increased
3 tremendously. I'n the public's interest, they should be staffed with properly
4 trained people.
5
6 Mr. Efuffman furnished Council with a copy of the condensed testimony he read at
7 the Friday hearings.
8.
9: There being no further business on motion made , seconded and passed, the
1Q meeting was adjourned.
11
12 Rick Ahaus
13 Chairman
14
15 ATTEST: J oEl l en Trimble
16 City Clerk