HomeMy Public PortalAbout11-21-1972 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, NOVEMBER 21, 1972
The Common Council of the City of Richmond, Indiana, met in regular session November
21, 1972 at the hour of• 7:00 p.m. in the Council Chambers of the Municipal Building
of said City serving as a committee in charge of the operation of the. Richmond Power
& Light Plant. Mr. Elstro presided with the following members present: Messrs.
Brown, Marino, Mills, Shields and Stigleman. Absent: Mr. Merchanthouse. The
following business was had to-wit:
Dr. Shields moved to approve the minutes of the previous meeting, seconded by Mr.
Marino, and on unanimous voice vote the motion was carried.
Mr. Cornett moved to approve bills, progressive payments and transfers from Cash
Operating Fund, seconded by Dr. Shields, and on unanimous voice vote the motion was
carried.
APPROVE THE FOLLOWING:
Bills in the amount of $414,630.91
Interest Coupons 300.00
1 Payroll 61,951.73
PROGRESSIVE PAYMENTS ON:
Substation Equipment $ 1,767.10
Electrostatic Precipitators 25,713.35
TRANSFER FROM CASH OPERATING FUND TO:
Depreciation Reserve Fund $ 57,000.00
Utility Bond Fund 61,957.42
Utility Bond Reserve Fund-- 40,000.00
Mr. Huffman reported on the following:
Bond Reserve Fund will become funded at the end of December in all probability.
Starting in January, it will then be necessary to increase our Depreciation Reserve
Fund payment from $57,000.00 per month to $91,000.00 per month.
We have not heard from Indiana & Michigan concerning a requested new contract.
It appears due to the request by Indiana & Michigan that our Federal Power Commission
rate case hearing date will be delayed until March 9, 1973.
Starting January 13th, Richmond Power & Light will have to pay Indiana & Michigan
an approximate 45.7% increase in rate for power costs. Our October bill was
$217,000.00, under the new rate our projected cost would be approximately $316,000.00.
Mr. Mills motioned, seconded by Mr. Marino, and unanimously passed to have Attorney
George Spegiel to file with the Securities and Exchange Commission to intervene
in the American Electric Power in the Columbus and Southern merger.
Mr. Huffman reported the car on Line Department is a 1967 chevrolet, has 75,000 miles,
uses oil, needs tires and should be replaced.
Mr. Marino moved to grant permission to take bids at our next meeting, seconded by
Mr. Stigleman, and on unanimous voice vote was carried.
There being nogfurther business on motion duly made, seconded and passed, the meeting
was adjourned.
H.J. Elstro, Jr.
Chairman
ATTEST: Margaret Mellen
City Clerk