HomeMy Public PortalAbout01-21-1974 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, JANUARY 21 , 1974
The Common Council of the City of Richmond, Indiana, met in regular
session January 21 , 1974, at the hour of 7:00 p.m. in the Council Chambers
in the Municipal 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. Dr. Shields was absent. The
following business was had to-wit:
Mr. Williams moved to approve the minutes of the previous meeting, seconded
by Mr. Geier and on unanimous voice vote the motion was carried.
Mr. Brown moved to approve the bills , seconded by Mr. Williams and on
unanimous voice vote the motion was carried.
APPROVE THE FOLLOWING:
Bills in the amount of $ 407,505.06
Interest Coupons 107,142.50
TRANSFERS FROM CASH OPERATING FUND TO:
Depreciation Reserve Fund $ 91 ,000.00
*Depreciation Reserve Fund 49,899.00
Cash Reserve Fund 60,000.00
Utility Bond Fund 71 ,254.30
*Sale of Land & Structures at
32 South 8th Street.
PURCHASE OF INVESTMENTS
CASH RESERVE FUND $ 154,055.17
111 CONSUMERS DEPOSIT FUND 31 ,002.54
UTILITY BOND FUND 178,118.84
C.D. 's maturing in one year,
yielding 7 1/2% interest.
General Manager Irving Huffman presented a report of the 1973 Operations.
(Attached to Minutes)
Mr. Huffman requested bids be taken for Circuit Breakers.
Mr. Mills moved to take bids on February 18, 1974 at 7:00 p.m. for Circuit
Breakers, seconded by Mr. Williams and on unanimous voice vote the motion
was carried.
There being no further business on motion duly made, seconded and passed,
the meeting was adjourned.
Greg Merchanthouse
Chairman
ATTEST: Margaret Mellen
City Clerk