HomeMy Public PortalAbout02-05-1962 ;)U
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 5, 1962
•
Regular session was called to order by Chairman Marino at 7:00 PM, in the
_ Council Chambers in 6ity Hall: Councilman Smithmeyer 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 Councilman J. Hoskins, unanimous
voice vote.
Councilman Henn moved that the bills in the amount of: $78,457.40
2 payrolls $71,356.93
be allowed and paid, seconded by Councilman' C. Hoskins, unanimous voice vote
-The Board of directors approved the following transactions:
Investment of Depreciation Reserve Fund in US Bonds,
plus accrued interest 199,982.83
Transfer from Cash Operating fund to:
Utility Bond Fund 34,300.00
`; Purchase and retire "1953 Revenue Bonds" and
interest coupons P 150,39.9.42
City- Attorney Cecere reported that 15 serarate damage suits for tha possible
recovery' of damages for bid regging against several electrical firms, have
been filed with the US District Court,Eastern Division, in Chicago.
General Manager Beck reported that the Light Plants generation output for
January 1962, exceeded the output of_January 1961.
Councilman Youngflesh moved to concur with the recommendation of General
Manager Beck to award the bid for a new automobile to the Dea Meadows Ford
Galaxie, on Their bid of $1894.00. , seconded by Councilwoman C. Hoskins,
unannimous voice vote.
The Finance Committee approved the investment of $100,000.00 in U S Treas- .
ury Bonds and thepurchase of $35,000.00 in Revenue Bonds.
General Manager Beck submitted a proposal from the Public Service Company
_of Indiana,offering to sell 127 customers for $50,000.00. Mr. Beck asked
Council members to study the proposal and report their recommendation at
• the next meeting.
Councilman aohnson moved that the meeting be adjourned, seconded by Council-
man J. Hoskins, unanimous voice vote.
Frank Marino - Chairman
Attest: Glenn J. Chapman - Clerk