HomeMy Public PortalAbout04-15-1963 (3 3
MINUTES OF THE MEETING OF THE RICHMOND
COMMON COUNCIL SERVING AS A COMMITTEE
IN CHARGE OF THE OPERATION OF THE
RICHMOND POWER AND LIGHT
APRIL 15,� 1963
II Regular session was called to order by Chairman Marino at 7:00 PM,
in the Council Chambers in City Hall : All membera were present -
The Following business was'._had ;to-wit:
Councilman Johnson moved that the reading of the minutes of the previous
meeting be dispensed with, seconded by Councilman Yount, unanimous
voice vote.
Councilman Yount moved that the bills in the amount of: $124,241.87
Interest on 1953 Revenue Bonds 75.00
be allowed and paid, seconded by Councilwoman C. •L. Hoskins, unanimous
voice vote.
THE BOARD OF DIRECTORS APPROVED THE FOLLOWING ANSACTIONS :
Transfers from Cash Operating Fund to:
Depreciation Reserve Fund $36,000.00
Utility Bond Fund 26,491.06
Cash Reserve fund 49,236.17
The Board of Directors authorized the reinvestment of $1,305,000.00
from Depreciation Reserve Fund in U.S. Treasury Bills maturing October
II15, 1963 and yielding 3.06%.
General Manager Beck reported that the Public Service Company of Indiana,
has agreed to sell the RP & L approx. 14 miles of transmission line
and 72 customers for $58,252.00, and asked City Attorney Cecere to pre-
pare an Ordinance to submit to Common Council.
General Manager Beck submitted to Council members to study a rate
schedule that he has drafted to apply to all-electric homes which
will be discussed at the next meeting.
There being no further business, Councilman Yount mowed that the meeting
be adjourned, seconded by Councilman Corsi, unanimous b!oice vote.
Chariman
Attest:
Clerk '