HomeMy Public PortalAbout02-19-1962 34
MINUTES OF THE MEETING OF THE RICHMOND COMMON COUNCIL
SERVING AS A COMMITTEE MN CHARGE OF THE OPERATION
OF THE RICHMOND POWER AND LIGHT
February 19, 1962
Regular session was called to order by Chairman Marino at 7:00 PM, in
the Council Chambers in City Hall: Councilman Smitjmeyer was absent •
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 Councilwoman C. Hoskins, unani-
mous voice vote.
Councilman Youngflesh introduced the members of Scout Troop115, visiting
" the session of Common Council.
Councilwoman C. Hoskins moved that the bills in the amount of: - - -
$132,915.23- be allowed and paid, seconded by Councilman Johnson, unani-
mous voice vote.
The Board of Directors approved the following transactions:
Interest on Revenue Bonds 183.75
Transfer from Cash Operating Fund to:
Utility Bond Fund 26,979.07
Cash Reserve Fund 58,454.36
Depreciation Reserve Fund 36,000.00
Investment of Cash Reserve Fund in US Bonds,
Plus accrued interest 99,771.29
General Manager Beck reported that he has started to study a replacement
program for cars and trucks for the use of the Light Plant, and would
report on his findings at a later date.
General Manager Beck cited the need for another sub-station in the eastern
part of the amity, as the three existing stations are overloaded now.
Beck said that sealed bids for Oourneew transformers- would be received
in March, one for the new station and three for replacements in the
stations already in use.
The Board authorized General Manager Beck to contact the American
Electric to study the engineering for the Indiana-Michigan Intercon-
nection sub-station expansion program.
There being no further business, Councilman Youngflesh moved that the
meeting be adjourned, seconded by Councilman J. Hoskins, unanimous
voice vote.
Frank Marino
i1 �� _ Chairman
Attest: Glenn . ChapLan
Clerk