HomeMy Public PortalAbout06-21-1972 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, JUNE 21 , 1972
The Common Council of the City of Richmond, Indiana, serving as a committee in charge
of the operation of the Richmond Power & Light Plant, met in regular session June 21 ,
1972, at the hour of 7:00 p.m. in the Council Chambers of the Municipal Building in
said City. Mr. Elstro presided with the following members present: Messrs. Marino,
Merchanthouse, Shields, Stigleman and Williams. Absent: Messrs. Brown, Cornett,
and Mills. The following business was had to-wit:
III Mr. Marino moved to approve the minutes of the previous meeting, seconded:by Dr.
Shields, and on unanimous voice vote the motion was carried.
Mr. Williams moved to pay bills and make progressive payments, seconded by Dr. Shields,
and on unanimous voice vote the motion was carried.
APPROVE THE FOLLOWING:
Bills in the amaunt of $397,986.25
Interest Coupons None
1 Payroll 59,902.62
PROGRESSIVE PAYMENTS ON:
Electrical Construction $ 38,070.00
TRANSFER FROM CASH OPERATING FUND TO:
Utility Bond Fund $ 62,207.42
Utility Bond Reserve Fund 40,000.00
Depreciation Reserve Fund 57,000.00
Mr. Huffman read the following letter:
Richmond Power & Light
June 15, 1972
IIITO: I. A. Huffman, General Manager
FROM: Delmer Cox, Office Manager
Mr. Huffman:
We have $40,000.00 in the Bond Reserve Fund and $1 ,000,000.00 in the
Construction Fund whichis available for investment.
I recommend we purchase 4.37% U.S. Tresury Bills, maturing 9-7-72 with
the $1 ,000,000 in the Construction Fund, and 4.51% in U.S. Treasury Bills
maturing 5-31-73 with the $40,000 in the Bond Reserve Fund.
Upon Council 's approval , I will order as many U.S. Government Securities
that the above cash will purchase.
Copies to: All Councilmen
Mr. Marino moved the Board authorize the investments as recommended, seconded by Dr.
Shields, and on unanimous voice vote the motion was carried.
Mr. Huffman read the following letter:
June 15, 1972
IIINOTE TO: I . A. HUFFMAN, GENERAL MANAGER
FROM: E. LONGFELLOW, PERSONNEL DIRECTOR
SUBJECT: TRUCK BIDS OPENED 5-1-72
There were two bids for a 1972 1/2 ton truck with a pick-up body opened on
5-1-72. Kurdy's Chevrolet was the low bidder of $2,789.00 or $132.00 less
than Fred First Ford.
(Continued on next page)
Light Plant Minutes
June 21 , 1972
Page 2
(Longfellow letter continued from Page 1 )
On 5-16-72 a purchase order was sent to Kurdy's for the purchase of the
truck. One 6-14-72, I was informed by Don Wetzel that Kurdy's would not be
able to furnish the 1972 truck as they had several orders cancelled. However,
they would be able to furnish a 1973 model at the same price but we could not
expect delivery until sometime in the latter part of August or the first part
of September.
I talked to Max Farmer of Fred First Ford on 6-15-72 and was told that they
could furnish the truck in approximately thirty (30) days. If we waited on
the delivery of a 1973 truck from Kurdy's, we would have to continue the
rental of a 1969 truck from Boneve, Inc. at $70.00 per month.
In my opinion, it would be to our advantage to purchase the truck from Fred
First Ford.
I would like for you to present the matter to the Richmond Common Council on
6-21-72.
Mr. Huffman reported that he had attended a meeting with all other municipal plants
involved and all had agreed to oppose the proposed rate increase by Indiaia-Michigan
and the group has hired attorneys. Mr. Huffman asked for authority to sign inter-
vention papers on behalf of Richmond Power & Light. Dr. Shields asked what the
Richmond Power & Light assessment would be. Mr. Huffman explained that the cost of
the intervention is being prorated by Kilowatt hours used and Richmond 's share would
come to approximately $25,000.00, but the potential saving by preventing the increase
would be about $800,000.00 annually. Mr. Williams moved the Board grant authority
as requested, seconded by Mr. Stigleman, and on unanimous voice vote the motion was
carried.
Mr. Stigleman expressed the Board 's appreciation to Mr. Huffman and the attorneys
for the work done on the Richmond Power & Light rate increase.
Chairman Elstro called an executive meeting of the Board for Tuesday, June 28, at
7:30 p.m. in the Service Building.
There being no further business on motion duly made, seconded and passed, the meeting
was adjourned.
H. J. Elstro, Jr.
Chairman
ATTEST: Lotte Hoskins, Clerk of the Board