HomeMy Public PortalAbout06-02-1975 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, JUNE 2, 1975
;.l The Common Council of the City of Richmond, Indiana, met in regular
2 session June 2, 1975 at the hour of 7:00 p.m. in the Council Chambers
3 in the Municipal Building in said City serving as a committee in charge
4 of the operation of the Richmond Power & Light Plant. Mr. Brown pre-
5 sided with the following members present: Messrs. Cornett, Elstro,
6 Geier, Hilton, Marino, Merchanthouse, Mills and Williams. Absent:
7 None. The following business was had to-wit:
8
9 Mr. Mills moved to approve the minutes of the previous meeting, seconded
10 by Mr. Williams and on unanimous voice vote the motion was carried.
11
12 Mr. Hilton moved to approve the following bills, seconded by Mr. Elstro
13 and on unanimous voice vote the motion was carried.
14
15 APPROVE THE FOLLOWING:
16 Bills in the amount of $ 280,147.44
17 Interest Coupons 206.25
18 1 Payroll 66,719.14
19
20 INVESTMENTS PURCHASED
21 *Depreciation Reserve Fund $ 400,000.00
22 **Depreciation Reserve Fund 1 ,300,000.00
23 ***Bond Reserve Fund 152,565.48
24
25 *C.D. 's Maturing in one year, yielding 6 3/8% Int. '
26 **C.D. 's Maturing in one year,.yielding 6 1/2% Int.
27 ***C.D. 's Maturing in one year, yielding 6 1/4% Int.
28
29 John Brown, Chairman of the Board thanked everyone for attending the
30 executive meeting on May 29, 1975.
31
32 Mr. Brown stated, there were three things discussed at the last meeting:
33 (1 ) Mr. Cornett's concern regarding payment to the City in lieu
34 of taxes.
35 (2) Request that Mr. Huffman supply this Board with comparable rates
36 of other utilities in the vicinity, which he agreed to do.
37 (3) Possibility of hiring an agency to run an efficiency; study at
38 RP&L. A committee was appointed consisting of Mr. Geier, Mr. Merchant-
39 house and Mr. Elstro and they will work along with Mr. Huffman on this
40 project.
41
42 Mr. Cornett moved that the monthly dividend payment from Richmond Power
43 & Light be changed from $60,000.00 to fifty (50) per cent of the net
44 income to the City, seconded by Mr. Mills and on a call of the roll
45 the following was recorded: Ayes; Cornett, Elstro, and Mills. Noes;
46 Geier, Hilton, Marino, Merchanthouse, Williams and Brown. The vote
47 being three (3) to six (6) for rejection of the motion.
48
49 Mr. Geier moved to authorize Mr. Huffman to award bid for Network System
50 Power Cables to Westinghouse Elec. Supply for Item #1 in the amount
51 of $11 ,439.75M and Item #2 in the amount of $4,228.35M and to Griffin
52 Electric Co. , for Item #3 in the amount of $2,320.00M, seconded by Mr.
53 Hilton and on voice vote the motion was carried. Mr. Cornett voted No.
54
55 Irving Huffman, General Manager, reported on the following communication
56 received from the Public Service Commission of Indiana:
57
58 This Commission, upon a review of the evidence in said Cause No.
59 32735, takes administrative knowledge of the fact that the changes
60 in the special terms and conditions of the tariff IP which specify
61 that in the case of Intervenors City of Richmond the monthly billing
62 demand shall not be less than the greater of (a) the customers con-
63 tract capacity or (b) the customer's highest previously established
64
65
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RP&L Minutes
June 2, 1975
Page 2
1 Public Service Comm. Communication cont.
2
3 monthly billing demand during the term of the contract were not
4 supported by any evidence presented to the Commission in the
5 hearing on the petition of Indiana & Michigan for a rate
6 increase under that cause; that no justification has been shown
7 to exist for that change in the IP tariff and that its approval
8 by this Commission was not justified, was the result of an
9 oversight on the part of the Commission and should be deleted
10 from Petitioners tariff IP until such time as evidence is
11 submitted to this Commission in justification of such special
12 term and condition.
13
14 There being no further business on motion duly made, seconded and
15 passed, the meeting was adjourned.
16
17 John Brown
18 Chairman
19
20
21 ATTEST: Margaret Mellen
22 City Clerk