HomeMy Public PortalAbout02-16-1976 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, FEBRUARY 16, 1976
1 The Common Council of the City of Richmond, Indiana, serving
2 as a committee in chargé of the operation of the Richmond Power
3 & Light Plant, met in regular session February 16, 1976, at the
4 hour of 7:00 p.m. in the Municipal Building of said city. Mr.
5 Ahaus presided with the following members present: Messrs.
6 Austerman , Carter, Cornett, Elstro , Merchanthouse, Mills, Paust,
7 and Williams. The following business was had, to-wit:
8
9 Mr. Williams moved to approve the minutes of the previous
10 meeting, seconded by Mr. Mills and on unanimous voice vote the
11 motion was carried.
12
13 Mr. Elstro moved to approve the following bills, seconded by
14 Mr. Austerman and on unanimous voice vote the motion was carried.
15
16 APPROVE THE FOLLOWING:
17 Bills in the amount of $605 ,409.07
18 Interest Coupons 58,723.75
19 1 Payroll 67,962.26
20
21 TRANSFER FROM THE CASH OPERATING FUND TO:
22 Depreciation Reserve Fund $ 91 ,000.00
23 Cash Reserve Fund 60 ,000.00
24 Utility Bond Fund 68,341.65
25
26 INVESTMENTS PURCHASED
27 *Utility Bond Reserve Fund $148,037.83
28 *C.D. `s Maturing In 1 year, yielding 6 1/4%
• 29
30 Chairman Ahaus reminded members of a meeting with Dr. Leininger
31 of Ernst & Ernst to be held Thursday, February 19th at 7:00 p.m.
32 at Richmond Power & Light, following which the committee will
33 take this information and go over the study to see if they can
34 draw a conclusion at that time.
35
36 Mr. Huffman reported that the State Board of 'Accounts have moved
37 into Richmond Power& Light for a major review. The study will
38 last about three weeks and RP&L will iget a report at the con-
39 clusion of the study.
40
41 Hearings for Indiana-Michigan's retail rate case will be held
42 . in Fort Wayne. The initial hearings are scheduled for March 2nd
43 at the.`5IU-PU Student Building starting at 9:00 a.m. We will
44 participate in this case. It has been going on for over a year.
45 I-M received 15.2% and received another increase which raised
46 . percent to 27.52%. This should be final stage of the rate case.
47 We have received new proposed tariff and it calculates to be
48 33 1/3% increase over the 27.52% already received. In 1975 we
49 have purchased $2 ,700 ,000 worth of power. We can expect 33 1/3%
50 increase to the amount of power to be used.
51
52 Richmond Power. & Light received a letter of thanks from Hagers-
53 town in answer to their request for help in 'their ice storm pro-
54 bi en. Hagerstown had 1 3/8" ice on their conductors. Richmond's
55 tree trimming program has been beneficial and kept us from
56 having as much of a problem due to ice as we could have had.
57 RP&L also sent crews to' Spiceland and Dunreith. The small systems
58 do not have the personnel to do a proper job in such emergencies.
59
60 Chairman Ahaus complimented Mr. Huffman and his staff for helping
61 our neighbor cities.
62
63 -- . _.
64
RP&L Minutes Cont' d
February 16 , 1976
Page 2
1 There being no further business , on motion duly made , seconded
2 and passed, the meeting was. adjourned.
3
4 Fredric Ahaus
5 Chairman
6
7 ATTEST: JoEllen Trimble
8 City Clerk