HomeMy Public PortalAbout10-15-1962 50
MINUTES OF THE MEETING OF THE RICHMOND
COMMON COUNCIL SERVING AS A COMMITTEE
IN CHARGE OF THE OPERATION OF THE RICHMOND
POWER AND LIGHT.
OCTOBER 15. 1962
Regular session was called. to order by Chairman Marino at 7 :00 PM
in the council Chambers in City Hall: Councilman J. Hoskins Absent.
The following business ass had to wit:
Councilman Johnson. moved that the reading of the minutes of the
-previous meeting be dispensed with, seconded by Councilman Corsi,
unanimous voice vote.
Councilman Youngflesh moved that the bills in the amount of :
$152,824.77
Interest on 1953 Revenue Bonds 30.00
be allowed and paid, seconded by Councilman Yount, unanimous voice
vote.
'THE BOARD OF DIRECTORS APPROVED THE FOLLOWING 4 RANSACTIONa:
Transfers from Cash Operating Fund to:
Utility Bond Fund $26,741.03
Cash Reserve Fund '44,435.54
Depreciation Reserve Fund 36s000.00
General Manager Beck reported that the plants generation for Sept-
ember showed an increase over September 1961 of :
System Demand - - up 3.17%
Peak Load - 7 up 2.2%
Councilman Yount moved that the Board of Directors authorize the Rich-
mond Power and Light to invest $100,000.00 from the Cash Reserve
Fund in U S. Government Bonds, seconded by Councilman Corsi, unanimous
voice vote.
There being no further business, Councilman Yount moved that the meet-
ing be adjourned, seconded by Councilman Corsi, unanimous voice vote.
C Chairman
Attest : �-�^�
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