HomeMy Public PortalAbout08-05-1968 . MINUTES OF THE. MEETING OF THE COMMON COUNCIL
OF THE CITY OF RICHMOND, INDIANA. SERVING AS A
COMMITTEE IN CHARGE OF TH E OPERATION OF THE
RICHMOND POWER AND LIGHT PLANT, AUGUST 5, 1968
-The Common Council. of .the City of Richmond, Indiana, servinga as a committee in -charge
of the operation of the Richmond .Power and Light Plant.met in regular session in.
.the Council-Chambers in :the. City. Building in said City, Monday, August 5, 1968,
at the hour of. 7:00 o'.clock P.M. (EST_) .- Councilman. ,Geier presiding with the "follow- .
ing members being present: Messrs. Blackwood, Bistro, _He.nn: F. .Ma.rino:, .and Stigleman.
Absent: Hilligoss and Paust. The following business was had to-wit:
Councilman Frank Marino moved the Minutes of the previous meeting. stand as read,.
'seconded by Councilman Phil Marino and on unanimous voice vote was carried.
Councilman Frank Marino moved the following be approved, seconded by .Councilman
Blackwood and on unanimous voice vote was carried.
Approve the following:
Bills in the amount of $151,;177.48
Interest Coupons and 1953 Revenue Bonds 77,456.25
Two Payrolls 115,625.44
The following letter was presented by Councilman Stigleman: July 2
July-,2,: .1968
Ransom Stigleman, Jr. . .
Howard J. Elstro, Jr.
E. C. .Henn .
Finance Committee"
We have an amount of $25,000.00 in the Employees;' Pension Fund-Cash, available. for
investment.
We believe the best investment .for,this money at the present .time would be U. S..
Treasury bills, maturing October :3, 1968, present yield 5.14%.
•
This purchase should be approved at the next council meeting.. :
/s/ E. S. Porter
. _. • General Office Manager
. 'Councilman Stigleman' moved that the .$25,000.00 -be transferred from Cash Operating .
to Employees' Pension Deposit Fund, seconded by Councilman Henn and on unanimous
voice vote was carried. . .
Councilman Geier, Chairman of the Board, stated there would be a meeting Thursday,
August 8; 1968, at 7:30 P.M. at the Light Plant office on the Pension Committee. •
Mr. Geier stated this would be an open meeting.
Mr. Earl Beck, General Manager, presented Proof of Publication for 2 out-door type
transformers. Mr. Cecere, City Attorney, examined Proof of Publication and found
them to be in order. Councilman Stigleman moved that the Proof of Publication be
accepted and filed, seconded by Councilman Frank Marino and on unanimous voice
vote was carried.
The following bids were opened by Mr. Beck:
Bidder Mfr. Unit Price Amount Delivery
Universal Elec. Co, Inc. McGraw-Edison $ 11,353.00 $ 22,706.00 24-28 weeks
308 N.W. F. St. after re-
Richmond, Indiana deipt of
order
Federal Pacific Elec. Co. FPE Co. 11,700.00 23,400.00 32-34 weeks
3353 W. 16th St.
Indianapolis, Ind.
H. K. Porter Co. , Inc. Porter Elec. Div. 11,839.00 23,678.00 21:weeks
Electrical Divison Delta-Star
Mayflower Drive
Lynchburg, Virginia
R.P. & L. Minutes 8-5-68
Bidder Mfr. Unit Price Amount Delivery
Allis-Chalmers Allis-Chalmers $ 11,935.00 $ 23,872.00 16-18 weeks after
3590 No. Meridian St. • • receipt of order
Indianapolis, Indiana:.
Richmond Electric Co. G.E. 12,326.00 24,652.00 18 weeks
1024 Main Street • Alt.-Same as
Richmond, Indiana • Item I except
2500 KVA, 65 degree • .
•
C . - 11;709.00 23,418.00
Westinghouse Elec. Co.III Westinghouse 12,326.00 - 24,652.00 20 weeks-if
2315 No. Walnut St. drawing approval
Box 42 is not necessary-
Muncie, Indiana - subtract 5 weeks
Councilman Frank Marino moved that all bids be turned over to Mr. Beck for final
tabulation and recommendation, seconded by Councilman Elstro and on-unanimous voice
vote was carried.
Mr. Beck told the Committee that the R.P. &- L. petition .remonstrating against an
increase in the coal rate is still pending before the Interstate Commerce Department,
but the 3% increase in rate was granted the railroads by the Indiana Public Service
Commission.. Mr. Beck stated that this increase-was granted on a one day filing notice
by the railroad.
There being no further business on motion duly made, seconded and carried, the meeting
adjourned.
/s/ Jerry Geier, Chairman
ATTEST: /s/. Harold W. Ryan, City Clerk