HomeMy Public PortalAbout10-16-1961 26
MINUTES OF THE MEETING OF THE COMMON COUNCIL
SERVING AS A COMMITTEE IN CHARGE OF THE
OPERATION OF THE RICHMOND POWER AND LIGHT.
October 16,11961
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 to4wit:
Councilman Johnson moved that the reading of the minutes of the previous
meeting be dispensed with, seconded by Councilman J; Hoskins, unanimous
voice vote. (The clerk was instructed to correct the minutes of the
October 2nd meeting concerning the unanimous vote on the motion to
set aside funds for the purchase of bonds).
Councilman Yount moved that the bills ill the amount of --- $87,313.89
Interest on 1953 Revenue Bonds 1,770.28
Purchase of 1953 Revenue Bonds 9,300.00
$ 98,384.17
be allowed and paid, seconded by Councilman Smithmeyer, unanimous
voice vote.
The Board of Directors approved the following transactions:
Transfer from Cash Operating Fund to:
Utility Bond Fund $36,674.13
Depreciation Reserve Fund - - - - 36,000.00
Cash Reserve Fund 58,561.79
Councilman Henn moved that the Light Plant General Manager be authorized
to -set aside a greater amount of money than is now required each month
in the Utility Bond Fund for the purchase of Revenue Bonds if available,
seconded by Councilman Smithmeyer, unanimous voice vote.
General Manager Beck reported that the Light Plant generation for the
month of September, 1961, showed an increase over the month of September,
1960.
The Finance Committee approved the purchase of Revenue Bonds in the
amount of $20,000.00 last week.
General Manager Beck reported that the Light Plant has installed
Mercury Vapor Street Eights , made by General Electric, on Ornamental
Posts from 15th & Main Street to South "A" Street. Mr. Beck asked
the Council members and members of the Board of Works to observe the
lights and report their opinions at the` next meeting.
General Manager Beck distributed copies of the generation system report
made by Black & Beach in 1958 of the Johnson Street Station to the
members of the committee for study.
There being no further business, the meeting adjourned.
Frank Marino, Chairman
Attest: (�j o �(ti1
Glenn J. C a,man, Cl rk