HomeMy Public PortalAbout02-17-1975 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, FEBRUARY 17, 1975
1 The Common Council of the City of Richmond, Indiana, met in regular
2 session February 17 , 1975 at the hour of 7:00 p.m. in the Council
3 Chambers in the Municipal Building in said City serving as a committee
4 in charge of the operation of the Richmond Power & 'Light Plant. Mr.
5 Brown presided with the following members present: Messrs. Cornett,
6 Elstro, Geier, Hilton, Marino, Merchanthouse, Mills and Williams.
78 Absent: None. The following business was had to-wit:
9 Mr. Geier moved to approve the minutes of the previous meeting, seconded
10 by Mr. Hilton and on unanimous voice vote the motion was carried.
11
12 Mr. Elstro moved to approve the following bills, seconded by Mr. Hilton
13 and on unanimous voice vote the motion was carried.
14
15 APPROVE THE FOLLOWING:
16 Bills in the amount of $ 479,412.52
17 Interest Coupons 74,581 .25
18 1 Payroll 66,841 .83
19
20 TRANSFERS FROM CASH OPERATING FUND TO:
21 Depreciation Reserve Fund $ 91 ,000.00
22 Cash Reserve Fund 60,000.00
23 . Utility Bond Fund 68,983.32
24
25 INVESTMENTS PURCHASED
26 *Utility Bond Reserve Fund $ 93,809.07
27 *Cash Reserve Fund 14,691 .02
28 **Depreciation Reserve Fund 191 ,499.91
29
30 *C.D. 's Maturing in 1 year yielding 6 3/8%
III 31 **C.D. 's Maturing in 1 year yielding 6 1/2%
32
33 Mr. Marino, Chairman of the Liason Committee reported on utilizing the
34 the light plant's computer for civil city payroll and possibly other
35 programs.
36
37 Mr. Hilton, Employment Relations Committee Chairman, reported on
38 employee relation matters stating the grievance procedure will be in
39 final form and come before the Light Plant committee on March 10th.
40
41 Mr. Elstro reported a meeting of the Street Lighting Committee is
42 being called for on March 20, 1975. at 7:00 p.m. at the Richmond Power
43 and Light Plant.
44
45 Mr. Mills said he would like to have the vote made public on the salary
46 increase for Mr. Huffman to $27,500.00.
47
48 Mr. Mills moved to mak public the vote taken at the Richmond Power
49 and Light meeting on the salary increase to $27 ,000.00 for Irving Huff-
50 man, seconded by Mr. Geier and on unanimous voice vote the motion was
51 carried.
52
53 Chairman John Brown stated the vote was recorded as follows: Mr. Cornett .
54 left early before vote was taken; Elstro, no; Geier, yes; Hilton, no;
III 55 Marino, yes; Merchanthouse, yes, Mills , no, Williams , absent and Brown,
56 yes. The vote being four (4) to three (3) in favor of the increase.
57
58 Mr. Geier moved to authorize Mr. Huffman to purchase the car from the
59 low bidder, Fred First, Inc. in the amount of $3,625.29 less $200.00,
60 seconded by Mr. Williams and on a call of the roll the following was
61 recorded: Ayes; Geier, Hilton, Marino, Merchanthouse, Williams and Brown.
62 Noes; Cornett, Elstro and Mills. The vote being six (6) to three (3)
63 in favor of the motion.
64
RP&L Minutes
February 17, 1975
Page 2
1 Mr. Huffman, General Manager, made the following comments regarding
2 the financial condition of the utility:
3
4 "Inflation is up. When we purchased the 60,000 kilowatt
5 generator in recent years the cost was $200 per kilowatt.
6 Today it would be between $350 and $500. Fuel costs have
7 tripled in 18 months , but our automatic rate boosts approved
8 by the Public Service Commission have helped recover most
9 of this.
10
11 We are regulated by the state board. We have lower rates
12 than private companies; citizens also get tax relief from
13 income and our operation is closely scrutinized by the State
14 Board of Accounts and the Public Service Commission. Our
15 books are open to the public.
16
17 We will continue operating under the guidance of the public
18 board and this managing board."
19
20 There being no further business on motion duly made, seconded and
21 passed, the meeting was adjourned.
22
23
24 John Brown
25 Chairman
26
27
28 ATTEST: Margaret Mellen
29 City Clerk
30