HomeMy Public PortalAbout06-03-1974 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, JUNE 3, 1974
The Common Council of the City of Richmond, Indiana, met in regular
session June 3, 1974 at the hour of 7:00 p.m, in the Council Cham-
bers in the Municipla Building in said City serving as a committee
in charge of the operation of the Richmond Power & Light Plant.
Mr. Merchanthouse presided with the following members present:
Messrs. Brown, Cornett, Elstro, Geier, Marino, Mills and Williams.
Absent: Dr. Shields. The following business was had to-wit:
Mr. Mills moved to approve the_minutes of the previous meeting,
seconded by Mr. Williams and on unanimous voice vote the motion
was carried.
Mr. Elstro moved to approve the bills, seconded by Mr, Geier and
on unanimous voice vote the motion was carried.
APPROVE THE FOLLOWING:
Bills in the amount of $150,356.05
Interest Coupons 166.25
1 Payroll 64,076.28
PROGRESSIVE PAYMENTS ON:
Black & Veatch Resident Engineer $ 3,652.97
INVESTMENTS PURCHASED
(a) Depreciation Reserve Fund 400,000.00
(b) 1 ,300,000.00
(c) " 40,000.00
(a) Utility Bond Reserve Fund 140,000.00
(c) Cash Reserve Fund 60,000.00
(a) C.D. 's Maturing 5/10/75, yielding 9% interest
(b) " " 8 1/2 % interest
(c) " 12/23/74 9 1/2% interest
Chairman Merchanthouse set a meeting for June 10th at 7:00 p.m. at
Richmond Power & Light Plant.
Mr. Brown moved to accept and file proof of publication for bids on
69KV Wire & Hardware, seconded by Mr. Marino and on unanimous voice
vote the motion was carried.
Bids were received from Richmond Electric Co, Richmond, Griffin
Electric Co, Owensboro Kentucky, and Westinghouse Electric Supply,
Muncie, Indiana.
Mr. Marino moved to authorize Mr. Huffman to take bids under advise- .
ment , seconded by Mr. Geier and on unanimous voice vote the motion
was carried.
Irving Huffman, General Manager, requested permission to go ahead
and order the third transformer that we had option to buy at the
time we ordered the other two on December 1973, as we now have a
need for it.
Mr. Marino moved to authorize Mr. Huffman to order the third trans-
former,seconded by Mr. Mills and on unanimous voice vote the motion
was carried.
111 There being no further business on motion duly made, seconded and
passed, the meeting was adjourned.
Greg Merchanthouse
Chairman
ATTEST: Margaret Mellen
Clerk of the Board