HomeMy Public PortalAbout08-05-1974 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, AUGUST 5, 1974
1 The Common Council of the City of Richmond, Indiana, met in regular
2 session July 15, 1974, at the hour of 7:00 P.M. in the Council Cham-
3 bers in the Municipal Building in said City serving as a committee
4 in charge of the operation of the Richmond Power & Light Plant.
5 Mr. Merchanthouse presided with the following members present: Messrs.
6 Brown, Cornett, Elstro, Geier, Marino, Mills, Shields and Williams.
7 Absent: None. The following business was had to-wit:
8
9 Mr. Geier moved to approve the minutes of the previous meeting,
10 seconded by Dr. Shields and on unanimous voice vote the motion was
11 carried.
12
13 Mr. Marino moved to approve the following bills, seconded by Mr.
14 Mills and on unanimous voice vote the motion was carried.
15
16 APPROVE THE FOLLOWING:
17 Bills in the amount of $ 357,724.55
18 Interest Coupons 57,607.50
19 1 Payroll 70,335.12
20
21 INVESTMENTS PURCHASED
22 Cash Reserve Fund $ 60,000.00
23 Depreciation Reserve Fund 35,400.00
24 Utility Bond Reserve Fund 4,600.00
25
26 C.D. 's maturing 12/30/74
27 yielding 10% interest.
28
III 29 Mr. Merchanthouse,Chairman of the Board, called an executive meeting
30 of the Board for Thursday, August 8, 1974 at 7:00 P.M. at the Light
31 Plant Office.
32
33 Mr. Irving Huffman, General Manager, presented a Resolution sup-
34 , porting the City of Alexandrias' court suit which is being fought
35 by municipally owned utilities as being unfair.
36
37 Mr. Williams moved to adopt the Resolution authorizing the hiring
38 of special counsel to determine the sales tax liability of Richmond
39 Power & Light with respect to certain of its purchases , seconded
40 by Dr. Shields and on unanimous voice vote the motion was carried.
41
42 Mr. Huffman reported the 10 percent rate increase case is tentatively
43 set for September110th hearing before the Public Service Commission
44 of Indiana.
45
46 There being no further business on motion duly made, seconded and
47 passed, the meeting was adjourned.
48
49
50 Greg Merchanthouse
51 Chairman
52
53
54 ATTEST: Margaret Mellen
55 City Clerk