HomeMy Public PortalAbout08-04-1969 JJo -
MINUTES OF THE MEETING 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, AUGUST 4, 1969
The Common Council of the City of Richmond, Indiana, serving as a com-
mittee in charge of the operation of the Richmond Power & Light Plant
met in regular session in the Council Chambers in the Municipal Bldg. in
said City August 4, 1969, at the hour of 7:00 o'clock p.m. Councilman
P. Marino presiding with the following members present: Messrs. Blackwood ,
Elstro, Geier, Henn, Hilligoss, F. Marino and Stigleman. Absent: Paust.
The following business was had to-wit:
Mr. Geier moved that the minutes of the previous meeting be approved,
seconded by Mr. Stigleman and on unanimous voice vote the motion was
carried.
Mr. Blackwood moved for approval of payment of bills as follows:
seconded by Mr. Geier end on unanimous voice vote the motion was carried.
Approve the following:
Bills in the amount of $ 107,799.97
Revenue Bonds & Interest Coupons 17,572.50
1 Payroll 63,229.38
Mr. Beck recommended the Board accept the low bid of the Morrison Equip-
ment Co . Cambridge City for the tree trimming equipment for $19,978.00.
Mr. Frank Marino moved the Board accept Mr. Beck' s recommendation,
seconded by Mr. Blackwood and on unanimous voice vote the motion was
carried. Mr. Beck explained that although the Asplundh Chipper Co.
was lower on one tiem, the delivery date is so slow that rental of a
chipper would more than make up the difference.
Bids were opened for substation transformers. Mr. F. Marino moved to
accept proof of publication, seconded by Mr. Stigleman and on unanimous
voice vote the motion was carried. (see attached sheet for tabulation)
Mr. F. Marino moved the Board refer the bids to Mr. Beck for tabulation
and recommendation, seconded by Mr. Stigleman and on unanimous voice
vote the motion was carried.
Mr. Beck asked that the Board approve the following budget for the
recreational program for R.P.U. from Sept. 1, 1969 to Aug. 31, 1970:
$ 40.00 for basketball
$295.00 for bowling
$ 30.00 for horseshoes
$365.00 Total
Mr. Stigleman moved the Board approve the budget, seconded by Mr.
Blackwood and on unanimous voice vote the motion was carried.
Mr. Stigleman moved the Board approve the following recommended exchange
in investments, seconded by Mr. F. Marino and on unanimous voice vote
the motion was carried. Mr. Beck said the money would not be needed
before the new maturity date.
Finance Committee
R. Stigleman, Chairman
E. C. Henn
F. Marino
Gentlemen:
We have U.S. Treasury Notes maturing August 15, 1969 as follows:
Depreciation Reserve Fund $ 2,552,000.00
Consumers Deposit Fund 65,000.00
// I ,
The U. S. Treasury is offering in exchange for the above, 18 month
notes, dated -- Feb. 15, 1971. The coupon rate will be 7.75%.
Upon approval by Council, I will place our order with the Second
National Bank of Richmond, Indiana.
Sincerely yours,
/s/ Delmer Cox,
General Office Manager
III Mr. Henn asked about a report on the Black and Veatch study. Chairman
Marino said that due to many special meetings on the 1970 budget, he
was planning a special meeting the week of August 25, 1969.
There being no further business on motion duly made; seconded and
carried, the meeting was adjourned.
/s/ Philip Marino, Chairman
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Attest: /s/ Lotte Hoskins, City Clerk
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