HomeMy Public PortalAbout04-19-1965 �_L
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.
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 City Hall in said City Mona ,-,April 19, 1965 at the hour of 7:00 o'clock p.m.
(est). Councilman Youngflesh presiding with the following members being present:
Messrs. Backmeyer, Bell,!enn, Hilligoss, Hollingsworth, Marino, Paust and Yount.
The following business was had to—wit:
Councilman Yount moved the minutes of the previous meeting be dispensed with,
seconded by Councilman Bell and on voice vote was carried.
Councilman Paust moved the following claims be allowed and paid, seconded by
Councilman Bell and on voice vote was carried.
Approve the following:
Bills in the amount of $138,682.58
Payment of interest coupons,
1953 Revenue Bonds 595.00
Transfers from Cash Operating Fund to:
Utility Bond Fund $ 25,420.62
Cash Reserve Fund 53,607.99
Depreciation Reserve Fund 36,000.00
General Manager Beck presented the following and read
April 14, 1965
A.E.Beck, General Manager
There is an amount of $100,000.00 in the Depreciation Reserve Fund Cash which
is available for investment after the April transfer of $36,000.00 is made.
The best investments available at the present time are U.S.Treasury Notes,
4%, maturing in May 1966, presently selling at par value.
On approval of the above, we will place our order with the Second National
Bank.
/s/ E.S.Porter
Office Manager
Councilman Henn moved the General Manager be authorized to invest 100,000.00 from
the Depreciation Reserve Fund Cash in U.S.Treasury Notes, maturing May 1966. Council—
man Yount seconded this motion and on voice vote the motion was unanimously carried.
There being no further business presented, on motion duly made seconded and carried
the meeting adjourned. GR e,„)„,
Charles Youngf a i, Chairman
Attest:
At r J. Reeg, C rk