HomeMy Public PortalAbout08-19-1963 71
MINUTES OF THE MEETING OF THIkICHMOND
COMMON COUNCIL SERVING AS A COMMITTEE
IN CHARGE OF T1 OPERATION OF THE
RICHMOND POWER AND LIGHT
AUGUST 19, 1963
,
Regular session was called to order-at 7:00 PM by Chairman Marino, in the Council
IIIChambers in City HaIl.. Councilwoman C. L. Hoskins absent.; The following business
was had to wit:
Councilman J. Hoskins moved that the reading of the minutes of the previous meeting
be dispensed with, seconded by,Councilman Johnson, unanimous voice vote.
• Councilman Yount moved to allow and pay bills in the amount of: $91,956.55
and Interest on 1953 Revenue Bonds - 282.50
. Two Payrolls - 82,797.38
seconded by Councilman Youngflesh, unanimous voicevote..
THE BOARD OF DIRECTORS APPROVED THE FOLLOWING TRANSFERS FROM CASH OPERATING FUND TO:
Depreciation Reserve Fund 836,000.00
Utility Bond Fund 26,241.04
Cash Reserve Fund 38,948.37
• General Manager Beck submitted a tabulation of the Street Lighting Materials bids, .
and recommended the low lump sum bid of the Richmond,Electric Company of $55,150.00.
• Councilman -Youngflesh moved that the bid of the Richmond Electric Company be accepted,
seconded by Councilman Corsi, unanimous voice vote.
Councilman Yount moved that the Richmond Power and Light be authorized to invest
0_00,000.00 from Depreciation Reserve Fund in US Treasury Bills, seconded by
IIICouncilman Youngflesh, unanimous voice vote.
Councilman Corsi moved to .authorize the Richmond Power and Light to invest when
funds are available, 0345,00.00 from Cash Reserve Fund and $5,000.00 from Consumer
Deposit Fund in US Treasury Bills, seconded by Councilman Yount, unanimous voice vote.
Councilman Yount moved that the Board of Directors authorize General Manager Beck
to advertise for bids to replace a 1957 Chevrolet and a 1953 Chevrolet, seconded
by Councilman Youngflesh, unanimous voice vote.
Councilman Youngflesh moved to approve that $395.00 be transfered from Cash Operating
Fund to the Recreational Program Budget, seconded by Councilman Corsi, unanimous
voice vote.
There being no further business the meeting adjourned.
•
Attest:
Clerk
III