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HomeMy Public PortalAbout02-21-1966 162 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 -AND LIGHT PLANT, MONDAY,FEBRUARY 21;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 met in regular session in -the -Council Chambers • in the City Hall in said. City; Monday, February 21, 1966 at the hour of 7:00 o'clock p.m. (est). Councilman Hilligoss presiding with the following members being present: Tessrs Backmeyer, Bell, Henn, Hollingsworth, Marino, Faust, Youngflesh and Yount. The following ' business was had to-wit: " There being no corrections" or additions to the previous minutes, Councilman Yount moved theIII - minutes be dispensed with, seconded by Councilman Marino and on voice vote was carried. • Councilman Backmeyer ,moved the following;be approved, seconded by Councilman Youngflesh and on voice vote was carried. Approve the following: . Bills in the amount of S120,198.99 Payment of Interest Coupons 1953'Revenud Bonds 1,111.25 _1 Payroll `'' 42,936.24 Transfers f:rom Cash Operating Fund to: - UtilityBond. Fund h 24, 26.1 n Cash, Reserve Fund '79;546.77" Depreciation Reserve Fund •. 36,000.00 Mr. Beck presented the following tabulation of proposals received February-7, 1966 for . 1 - 1966 Model 6 cylinder, 2-door .sedan less allowance on 1 - .1961 Plymouth`Valiant. . Bidder Make Delivered Price Allowance Net Price Delivery Kurdys Chevrolet, Inc. Chevy'II-100 '52,240.50 , $662.27 ' $$1;578.13 30 days Fred First, Inc. Ford Falcon S1,870.54 $325.00 $1,545.54 4 weeks Mr. Beck stated that the bid of Fred First, Inca failed to have the non collision nota- . rized and could not be an acceptable bid. Mr. Beck recommended the bid of Kurdys Chevrolet, Inc. for the net price above set out. Councilman Marino moved the Board concur in the recommendation of 'Mr. Beck, seconded by Councilman Youngflesh and on - voice vote was carried. • • Mr. Beck nrese ted the following tabulation of proposals received February 7, 1966 for • 1 - 1966 ModelCylinder -Van type truck less allowance on 1961 Plymouth Savoy. Bidder Make Delivered Price Allowance Net Price Delivery Kurdys Chevrolet, Inc. Chevrolet S2,582.50 $$744.04 $$1,838.46 0 days • Fred First, Inc,. Ford - . 52,185.61 $225.00 $$1,,960.61 4. weeks . Mr. Beck stated the bid of the Fred First, Inc. failed to have the non collision nota- rized and could not be an acceptable bid. Mr. Beck recommended the bid of Kurdys Chevrolet, Inc. for the the net price as above set out. Councilman Marino moved the Board concur in the recommendation of Mr. Beck, seconded by Councilman Youngflesh and on voice vote was carried. Mr. Beck presented proof of publication of notice to bidders, printed in the Richmond Palladium-Item a newspaper of general circulation in the City of Richmond, Indiana on the dates of February 9th andi6th, 1966. Said notice designated the date of February 21, 1966 until the hour •of 7:00 o 'clock p.m. (est) bids could be .received, opened and . • read aloud for one (1) 69,000 Volt Circuit Breaker. Mr. Keller4ty Attorney, examined - the proof of publication of notice to bidders and found the same to be correct and in order. Councilman Yount moved the proof- of publication of notice to bidders be accepted and filed. Councilman Hollingsworth seconded this motion and on voice vote was carried. Feb".ruary 21, 1966 at the hour of 7:00 o'clock p.m. (est) being the date and time designated to open and read aloud proposals that were received. The following proposals were opened and read aloud.: for one (1) 69,000 Volt Circuit Breaker per .specifications. • Westing house Electric Company S11,950.00 36 weeks delivery Richmond Electric Company ` 13,775.00 26 weeks delivery Allis-Chalmers Company $11,600.00 Allis-Chalmers Company $12,400.00 Cc.Councilman Marino moved'that all proposals received' be referred to Mr. Beak for tabulation and recommendation, seconded by Councilman Backmeyer and on voice vote was carried. Mr. Beck presented the following; February 16, 1966 A. E. Beck • General Manager • . The Finance Committee has approved the following investment of funds. . Depreciation Reserve - Cash $300,000.00 Consumers' Deposit Fund - Cash 10,000.00 Total $310,000.00 The above amount is to be invested in U.S. Treasury Notes, 3 5/8% maturing February 15, 1967 presently quoted at 98.25, to yield 4..89%. Cash Reserve Fund $140,000.00 This amount to be invested in U.S. Treasury Notes, 4% maturing November 15, 1966, presently quoted at 99.11, to yield. 4.89%. The above purchases should be approved at the next scheduled Council Meeting on Monday, February 21st. . /s/ Earl' Porter Office Vanager Councilman Backmeyer moved the General Manager be authorized to invest the amount of $300,000.00 from the ,Depreciation Reserve Fund - Cash and the amount of $10,000.00 from the Consumers' Lepos .t Fund - Cash making a total of 310,000.00 to be invested in U.S. Treasury Notes, 3 5/8% maturing February 15, 1967 presently quoted at 98.25 to yield 4.8 . Councilman Youngflesh seconded this motion and on voice vote was carried. Councilman Backmeyer .moved the General Manager be authorized to invest the sum of $140,000.00 of the Cash Reserve Fund into U.S. Treasury Notes, 4% maturing November 15, 1966 presently • quoted at 99111 to' yield 4.89%. Councilman Youngflesh seconded this motion and on voice vote was carried. Mr. Beck reported that the wear on the Cooling Tower at the Whitewater Generating Station had taken its toll after being in operation since the year 1955. This unit should be repaired and will take an estimated $60,013.00 which includes material and labor to do a satisfactory job. The Marly Corporation one of the largest concerns in the United States that furnishes material for unit of this nature has been contacted and gave this estimate of figures. It is planned to use a member of the Marley Corporation to supervise this work and some of the employees at the Richmond Power and Light be used to do the con- struction work. • Councilman Marino moved the General Manager be authorized to proceed with-the. repairing of the Cooling Tower immediately. This motion was seconded by Councilman Yount and on voice vote was carried. . Mr. Beck requested that authorization be given to receive sealed proposals in accordance to specifications on file for furnishing 2100 feet Control Cable for underground and 24,000 feet Control Cable for overhead. Councilman Yount moved the General Manager be authorized to receive sealed proposals until the hour of '7:00 o'clock p.m. (est), Monday, March 7, 1966 for furnishing the above material set out in the request. Council- man Marino seconded this motion and on voice vote was carried. There being no further business presented on motion du y made, seconded and carried the IIImeeting adjourned. V I / �/�� 406ohn Hilligos , Chairman IP . Attest : ther J. Ree Cit erk