HomeMy Public PortalAbout10-21-1968 le
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 & EIGHT PLANTS OCTOBER 21, 1968
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-in .the -Council-Chambers in- the City'Building in said City, October 21,..,
1968, at the hour of 7:00. o'clock P.M. (EST), Councilman Geier presiding with
. the;following members being present: Messrs. Blackwood, Elstro, Henn Hilligoss,
'F; Marino, P. Marino, Paust and Stigleman. The following business was had. to-wit:
IIICouncilman Hilligoss moved the minutes of the previous meeting stand as read,
seconded by Councilman F. Marino and on unanimous voice vote was carried •
Councilman Stigleman moved that the following be approved, 'seconded by Council
man Paust and on Unanimous voice vote was carried. -
Approve the following: • � -
Bills in the amount of $177,618.61
1 Payroll 56,818.68
Interest Coupons`on 'Revenuue Bonds - ' - -237.50
Transfers from Cash Operating Fund to: ' - . - .. '
Depreciation Reserve Fund $ 36,000.00
Cash Reserve Fund 69,399.88
Utility Bond Fund = � ' ' ' 25,530.21
Mr. Earl Beck-,- General Mgr. of RP&L, presented a tabulation of the substation
transformers bids opened at the October 7th meeting. Mr. Beck recommended that
the Westinghouse bid be accepted. Council President. F.. Marino moved that West
inghouse be awarded the bid, seconded by Councilman Elstro and on unanimous voice
vote was carried.
Mr. Beck presented the following- letter to the Board:'
October 16, 1968
ill A.E. Beck
General Manager
After the fund transfers are made .next Monday night, there will be an amount-
of $75,000.00 -ayailable for investment in the '-'Cash Reserve Fund" .
The best investment at this time would be the "5 5/8% U.S. Treasury Notes",`
selling at 100 1/32, to yeild 5.57% maturing May 15, 1969.
Cost of proposed investment:
• Principal $ 73,000.00
Premium 22.81
Accrued Interest 1,818.80
Total $ 74,841.61
On approval of the above we will place our order with the Second National
Bank.
/s/ Delmer Cox, Accountant
Councilman Stigleman moved for the approval of the investment of "Cash Reserve
Funds" in U.S. Treasury Notes, seconded by Councilman Elstro and on unanimous
• voice vote was carried.
Mr. Beck presented Proof of Publication on 1968 and 1969 car bids. Mr. Frank
Marino moved the Proof of Publication be accepted and filed, seconded by
IIICouncilman Stigleman and on unanimous voice vote was carried.
Mr. Beck opened the following bids:
ITEM I - 1969 4-DOOR SEDAN
BIDS OPENED OCTOBER 21, 1968
LESS ALLOWANCE •
BIDDER MAKE DEL.PRICE 1963 CHEVY II NET PRICE DELIVERY
Fred First, Inc. Ford Falcon $2141.70 $ 286.00 $1855.70 Approx 30
800 So. 5th St. days
Kurdy' s Chev. , Inc. Chevy II 2466.50 740.81 1725.69 Approx 4
550 Natl. Rd. East weeks
71 .
RP&L Minutes 10-21-68 ..
ITEM+i II - 1969 2-DOOR SEDAN
BIDS OPENED OCTOBER 21, 1968
LESS ALLOWANCE
' BIDDER MAKE DEL.PRICE 1962 FORD GALAXIE NET PRICE DELIVERY
Fred First, Inc. Ford Falcon $2103.76 $ 286.00 $1817.76 Approx
800 So. 5th St. 30 days
Kurdy' s Chev. Chevy II 2438.50 735.59 1702.91 Approx
550 Natl. Rd. East , : 4 weeks
Councilman F. Marino moved that the car bids be referred for tabulation, seconded
by Councilman Stigleman and on unanimous voice vote was carried.
Mr. Beck presented the tabulation of bids on a Radio Communication System.
General Electric proposed a 4-month trial basis in which the only cost to the - -
Light Plant would be that of the installation charge and cost of the tower.
Mr. Beck requested authorization for the 4-month trial installation to see
if it meets our needs. Councilman P. Marino moved this be approved, seconded
by Councilman Stigleman and on unanimous voice vote was carried. The bids; .
were 'as follows:
BIDDER EQUIPMENT INSTALLATION CHARGE TOTAL
General Electric $12,236.00 $577.00 $12,813.00
Motorola 14,275.00 525.00 14,800.00'
RCA 12,823.00 480.00 13,303.00
There being no further business on motion duly made, seconded and carried,
the meeting adjourned.
/s/ Jerry Geier, Chairman .
ATTEST: , Virginia Cook, Acting City Clerk