HomeMy Public PortalAbout01-03-1972 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, JANUARY 3 , 1972
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The Common Council of the City of Richmond, Indiana, serving
as a committee in charge of the operation of the RLchmond Power
& Light Plant, met in regular session January 3, 1972 at the
hour of 7:0.0 p.m. in the Council Chambers, of the Municipal
III Building insaid City. Mr.. St.igleman presided with the follow-
- ing members present: Messrs . Brown, Cornett, Elstro, Marino,
Merchanthouse, Mills, Shields. and Williams . Absent : None.
The following business was had to-wit:
Mr . Marino moved that the minutes of th.e previous meeting be
approved, seconded by Mr . Williams, and on unanimous voice vote
the motion was carried.
Mr.( Merchantthouse moved to pay bills and progressive payments ,
seconded by Mr. Brown, and on unanimous voice vote the motion
was carried .
APPROVE THE FOLLOWING :
Bills in the amount of $ 96,424.09
1 Payroll 60, 963 .31
Payment of City Dividend 700,000 .00
Interest Coupons 325 .00
PROGRESSIVE PAYMENTS:
Mechanical Construction $ . 3,856.41
Control & Instrument Equipment 2,768.40
Control Air Compressors • 15,316.20
Black & Veatch Resident Engineers 3, 915 .00
Mr, Stigleman announced that the dividend to the City is
$700 ,000 .00 . Mr . Stigleman welcomed new members and the new
City Attorney .
Mr . Huffman read the following letter:
December 28, 1971
TO':. I . A. HUFFMAN, GENERAL MANAGER
FROM: D . COX, OFFICE MANAGER
Mr. Huffman :
We have cash available for investments in the following
special funds:
Construction Fund $1 ,000,000 .00
Bond Reserve Fund 40 ,000.00
Consumers Deposit Fund 65,000 .00
I recommend, we purchase U. S . Treasury Bills as follows:
Construction Fund - $1 ,000,000 .00 U. S. Treasury Bills
at 3 .92% discount , maturing July 31 , 1972 .
Bond Reserve Fund - $40,000 .00 U. S . Trreasury Bills at
3 .96% discount, 'maturing November 30, 1972 .
Consumers Deposit Fund - $65,000 .00 U. S . Treasury Bills
at 3 . 96% discount, maturing November 30, 1972 .
On Council 's approval I will instruct the Tr.easurersto
purchase as many U . S . Treasury Bills as the ,above cash will
purchase.
COPIES: FINANCE COMMITTEE
Light Plant Minutes
January 3, 1972 <
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Mr . Elstro moved the Board approve the purchase as recommended,
seconded by Mr . Williams, and on unanimous voice vote the motion
-was carried .r
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There being no further.-business on motion duly made, seconded
and passed, the meeting -was adjourned.-1 .
. Ransom Stigleman, Chairman
ATTEST: Lotte Hoskins , City Clerk
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