HomeMy Public PortalAbout11-20-1961 29 •
MINUTES OF THE MEETING OF COMMON COUNCIL
SERVING AS A COMMITTEE IN CHARGE OF THE
OPERATION OF THE RICHMOND POWER AND LIGHT.
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November 20, 1961
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Regular session was called to order by Chairman Marino at 7:00 P.M. in the
Council Chambers in City Hall. All members 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 Henn moved that the bills in the amount of ---- $70,844.68
_ Interest on 1953 Revenue Bonds 15.00
• Total - $70,859.68 •
be allowed and paid, seconded by Councilman Youngflesh, unanimous voice
vote.
The Board of Directors approved the following transactions:
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Transfer from Cash Operating Fund to:
Utility Bond Fund - $27,289.99
Depreciation Reserve Fund - 36,000.00
Cash Reserve Fund - 39,100.97
Transfer from Consumers Deposit Fund Cash to:
Consumers Deposit Fund Interest Cash
96.88
Councilman Yount moved to authorize City Attorney Cecere to. join the task
force of Van Scoyoc & Wiskup in filing damage claims against companies
guilty of bid-rigging, inconnection with the sale of electrical equipment
to the City of Richmond Power and Light, seconded by Councilman J. Hoskins -
passed by 8-1 voice vote - Councilman Smithmeyer dissenting.
General Manager Beck reported "an increase in the plants generation for ,
October, 1961, over October, 1960, alsoran increase to date over last year.
Councilman Smithmeyer moved to authorize the Richmond Power and Light to .
purchase $5,000.00 in Revenue Bonds from the Goodbody & Company of Chicago,
Illinois.- The bonds bear 3% interest, maturing January 1, 1979, at a dis-
count at $92,00, seconded by Councilman Yount, unanimous voice vote.
Councilman Johnson moved to approve the Richmond Power and Light-Budget for
1962, as submitted for $3,273,000.00, seconded by Councilman J. Hoskins, ,
unanimous voice vote.
There being no further business, the meeting adjourned.
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Frank Marino, Chairman
Attest:.
Glenn J. Ch man - Cler