HomeMy Public PortalAbout03-18-1968 55
MINUTES OF THE MEETING OF THE COMMON COUNCIL
OF THE CITY OF RICHMOND, IDNAINA SERVING AS A
COMMITTEE IN CHARGE OF THE OPERATION OF THE
RICHMOND POWER AND LIGHT PLANT, MARCH 18, 1968
The Common Council of the City of Richmond, Indiana serving 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, March 18, 1968 at the hour of 7:00
o'clock P.M. (EST). Councilman Geier presiding with the following members being present:
Messrs. Blackwood, Elstro, Hilligoss, Henn, Phil Marino, Frank Marino, Paust and Stigleman.
The following business was had to-wit:
Chairman Geier moved the Minutes stand as read, seconded by Councilman Elstro and on
unanimous voice vote was carried.
IIICouncilman Phil Marino moved the following be approved, seconded by Councilman Henn and on
unanimous voice vote was carried.
Approve the following:
Bills in the amount of $146,775.25
Interest Coupons - 1953 Revenue Bonds 75.00
1 Payroll 50,791.75
11
^3 Transfers from Cash Operating Fund to:
r{:
= Depreciation Reserve Fund $ 36,000.00
Cash Reserve Fund 87,885.06
Utility Bond Fund 23,852.92
Mr. Beck presented the following letter:
A. E. Beck March 14, 1968
General Manager
We have received an offer from Wildman, Neal & DeBolt, bond dealers at Indianapolis,
to sell us $25,000.00 of our 1953 Revenue Bonds at a cost of $83.25. These are 3t% bonds
maturing July 1, 1981.
IIIThe savings on this purchase would be as follows:
Discount $ 4,187.75
Interest Savings 10,799.48
Total $14,987.23 _
This would make a total of 5.15%.
This purchase has been approved by the Finance Committee and should be officially
approved at the next Council Meeting.
/s/ E. S. Porter,
General Office Manager
Councilman Stigleman moved that authorization be given to Mr. Beck to purchase $25,000.00
in Revenue Bonds, seconded by Councilman Elstro and on unanimous voice vote was carried.
Mr. Beck presented Proof of Publication of Notice to Bidders printed in the Richmond Pal-
ladium-Item, a newspaper of general circulation in Richmond, Indiana, on the dates of March
1st and March 8th, 1968. Said publication stated that sealed proposals would be received
by the Common Council of the City of Richmond, Indiana serving as a committee in charge of
the operation of the Richmond Power and Light of said City, at the office of the City Clerk
in the City Building in Richmond, Indiana up to 7:00 P.M. March 18, 1968 and then will be
publicly opened and read aloud for furnishing one (1) bulldozer for the handling of coal.
III Councilman Frank Marino recommended the proof of publication be accepted and filed,
seconded by Councilman Elstro and on unanimous voice vote was carried.
March 18, 1968 at the hour of 7:00 P.M. being the date and time designated to open and
read aloud all proposals received, the following proposals were opened and read aloud:
Bidder
Dabney & Weiss Equipment Co. Bid - $34,965.00
Danville, Indiana TI - 8,392.00
Net - $26,573.00
R.P. & L. Minutes 3-18-68 (Cont)
Bidder
Mac Allister Machinery Co. Bid - $32,637.00
Indianapolis, Indiana TI - 5,152.00
Net - $27,485.00
Rudd Construction Co. Bid - $29,830.00
Louisville, Ky. TI - 5,900.00
Net - $23,930.00
Indiana Equipment Co. , Inc. Bid - $30,950.00
Indianapolis, Indiana TI - 7,600.00
Net - $23,350.00
Panke Machinery Corporation Bid - $31,495.00
Indianapolis, Indiana TI - 10,573.00
Net - $20,922.00
Councilman Frank Marino moved the proposals be referred to Mr. Beck for tabulation
and recommendation, seconded. by Councilman Stigleman and on unanimous voice vote was
carried.
Mr. Beck asked the Board for permission to authorize the solicitation of an agreement
with Indiana Michigan Electric Co. for the design, engineering, construction and upon
completion sale to the City of all necessary equipment and facilities required to
install an interconnection substation on Hodgin Road near the State Line on a plot of
ground now owned by the City. Councilman Frank Marino made a motion that this author-
ization be granted, seconded by Councilman Stigleman, and on unanimous voice vote was
carried.
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