HomeMy Public PortalAbout01-07-1974 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 7, 1974
The Common Council of the City of Richmond, Indiana, met in regular session
January 7, 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 and Light Plant. Mr. Williams presided
with the following members present: Messrs. Brown, Cornett, Elstro, Geier,
Marino, Merchanthouse and Mills. Absent: Dr. Shields. The following
business was had to-wit:
Mr. Mills moved to approve the minutes of the previous meeting, seconded
by Mr. Marino and on unanimous voice vote the motion was carried.
Mr. Merchanthouse moved to approve the bills, seconded by Mr. Brown and on
unanimous voice vote the motion was carried.
APPROVE THE FOLLOWING:
Bills in the amount of $227,724.70
Interest Coupons 192,420.00
1 Payroll 62,311 .89
Payment to Civil City 600,000.00
PROGRESSIVE PAYMENTS ON:
Mechantical Construction - Downtown Off. $ 2,350.00
Black & Veatch Resident Engineer 2,430.00
INVESTMENTS PURCHASED
Utility Bond Reserve Fund 40,000.00
Cash Reserve Fund $120,000.00
C.D. 's Maturing in 1 year,
yielding 8% interest.
General Manager Irving Huffman reported they have been advised by Old Ben
Coal Company, our chief coal supplier, that the cost will go up $1 .49 per
ton effective January 1 , 1974.
We are projecting a purchase of 250,000 tons of coal for 1974 and based
upon this latest request it appears that our Coal Supplier expects to
increase his selling price $372,000.00 per year.
This will represent an additional increase in the automatic fuel clause
adjustments. For the average user having a bill of $14.50 per month,
the bill would increase 35 cents.
There being no further business on motion duly made, seconded and passed,
the meeting was adjourned.
Marion Williams
Chairman
ATTEST: Margaret Mellen
City Clerk