HomeMy Public PortalAbout04-18-1966 I 7 2 .
. MINUTES OF THE- MEErI.NG OF THE COMMON COUNCIL
OF THE CITY OF RICHMOND, INDIANA SERVING AS A
COMMITTEE IN CHARGE OF THE OPERATION OF THE -
RICHMIOND POTTIER AND LIGHT PLANT, APRIL 18, 1966 _ .
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-Hall in said City, Monday, April 18,
1966 at the hour of 7:00 .o'clock p.m. (est). Councilman Hilligoss presiding
with the following members 'being present: -Messrs. Backmeyer, Bell, Henn, Hollings-
worth, Marino, Faust, Youngflesh and Yount. The following business was had-to- -
wit: . .
There being no corrections or additions to-the minutes of April 4, 1966, Council
III
man Marino moved the minutes be dispensed with, seconded' by Councilman Bell and
on voice vote was carried. • .
• -Councilman Hollingsworth moved the following claims be allowed: and paid, seconded
by Councilman Henn and on voice vote was carried
Approve the following • .
- Bills in the amount of $138,678.77
1 - Payroll . • 43,22'7.20
Transfers f rpm Cash Operating Fund to:
Utility Bond Fund: . - 24,920.63
Depreciation Reserve Fund ' 36;000.00 ,
Cash Reserve Fund 71,2)48.30 . . -
Mr. Beck -presented and read the following:
• . . April 12, 1966
A. E. -Beck . .
General Manager .
There is an amount of $111,061.87 in the Cash Reserve Fund as of March 31,,
1966. On next Monday, April 18th there will be an additional amount transferred
to the. fund of $71;248.30.' This will make a total of $182,310.17. •
Ne recommend that we invest-$178,000.00 in U.S.. Treasury Notes which mature
in November of this year. These are 44 notes and are quoted today according to
information obtained from the Second National Bank, at 99.18 to yield 4.76%.
Due to the City dividend payment after December 31st of this year,, this- .
money s hould be invested in securities that mature by the end of-this year.
- On approval of the above, we will place our order with the Second National
Bank. -
/s/ E.S. Porter
Office Manager- -- - -- -
Councilman Youngflesh moved the General Manager be authorized to invest $178,000.00
from the Cash Reserve Fund into U.S. .Treasury Notes which mature in November 196$.
This motion was seconded by Councilman Yount and on voice vote was unanimously
carried.
Mr. Beck presented quotations that were received for a new accounting machine to
replace the one purchased in 194.7.
National Cash Register • $5,)450.00
Burroughs 64,710.40
Mr. Beck recommended the quotation of the Burroughs in the ar;iount of $4,710.40. .
Councilman Yount moved this Body concur in the recommendation of the General . Ill-
•Manager, seconded by Councilman Youngflesh and on voice vote was carried.
Mr. Bert Keller, City Attorney, stressed that some consistency of policy be
followed on bids. Some items that bids are asked for run around $1,500.00 to.$2,000.00
and then again quotations are taken on items that run about $5,000.00. Councilman
Backmeyer recommended that a committee be appointed to make study of this. The
Chairman appointed Councilmen Backmeer and Yount to assist Mr. Keller to make
study of this question of being consistent of asking for bids or quotations.
Mr. Beck reported that ,-the specifications for Wire and Hardware were prepared for _
the 69 KV Line on the Boston Township Line and requested permission to advertise
for bids to be received. May 16, 1966. Councilman Yount moved the General Manager
be authorized to receive bids for Wire and Hardware on May 16, 1966. This motion
was seconded by Councilman Hollingsworth and on voice vote was carried.
173
Light Plant minutes 4/l8/66 cont. 2. '
. Mr. Beck reported that the specifications, were. prepared for the 69 KV Horizontal Post
Insulators and would like to be authorized to receive bids May 2, 1966. Councilman
Yount moved the General Manager be authorized to receive bids on the 2nd of May, 1966,
seconded by Councilman Backmeyer and on voice vote was carried.
Mr. Beck reported that the specifications were •prepared for the material necessary
' to complete the 166 Street Lighting program and would like to receive bids on •
May 2, 1966. Councilman Marino moved the General Manager be authorized.to •receive
bids on May 2, 1966, seconded by Councilman Bell and on voice vote was carried. -
111 Mr. Beck reported that he had received a letter stating that the Federal Power
Commission has an order for investigation of Rates for Interconnection. After Much
discussion, Councilman Marino moved that the General Manager contact the Indiana
Municipal Electric Association to get information on what other cities might be doing
toward filing intention of arape,aring for the investigation. Councilman Backmeyer •
seconded this motion and on voice vote was carried. .
Councilman Henn pointed out that each new Council member including Backmeyer, Bell;
Hilligoss, Hollingsworth and Paust should receive the copies of the Nation Cities.
There are many interesting articles about what cities are confronted with and the
solutions to the problems. Mr. Beck consented to see if it could be arranged for
the new Councilmen to receive the copies.
There being no further business presented on motion duly made, seconded and carried
the meeting adjourned.
Hilligoss, C rman
Attest :
Athe• J. Reeg, C. Cle. k
'Councilmen Paust and Hollingsworth on the Light Plant. Claims for May', 1966.