HomeMy Public PortalAbout07-15-1963 69
MINUTES OF THE MEETING OF THE RICHMOND
COMMON COUNCIL SERVING AS A COMMITTEE
IN CHARGE OF THE OPERATION OF THE
RICHMOND POWER AND LIGHT
JULY 15, 1963
Regular session was called to order at 7:00 PM by Chairman Marino,
II in the Council Chambers in City Hall. Councilman Johnson absent.
The following business was had to wit:
Councilman Lawler moved that the reading of the minutes of the pre-
vious meeting be dispensed with, seconded by Councilman J. Hoskins,
unanimous voice vote.
Councilwoman C. L. Hoskins moved to allow and pay bills in the amount
of v $144,472.78
Plus Interest and Principal matured on 1953
Revenue Bonds : ® $146.002.50
motion seconded by Councilman Henn, unanimous voice vote.
THE BOARD OF DIRECTORS APPROVED THE FOLLOWINGTRANSFERS FROM CASH
OPERATING FUND TO: .
Depreciation -Reserve Fund $36,000.00
Cash Reserve Fund 45,159.06
Utility Bond Fund 26.241.04
General Manager Beck reported that the Richmond Power and Light would
officially take over the 72 customers and 14 miles of transmission
lines, purchased from the Public Service Company of Indiana , July 16, 1963.
IICouncilwoman C. L. Hoskins moved to authorize the Richmond Power and
Light to invest $100,000.00 from the Depreciation Reserve Fund in
US Government Bonds , seconded by Councilman Henn, unanimous voice vote.
The Board authorized General Manager Beck to advertise for sealed
bids to be opened August 5, 1963 for Street Light Materials.
The Board of Directors received a letter from the Indiana Rating
Bureau that the 533 sprinklers recently installed at the Richmond
Power and Light have been inspected and approved - the sprintlers
were installed by the Grinnell Company, Inc. of Chicago, Ill.
There being no further business the meeting adjourned:
Chairman
Attest :
I Clerk