HomeMy Public PortalAbout01-16-1961 7
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MINUTES OF THE MEETING OF THE COMMON COUNCIL
SERVING AS A COivMITTEE IN CHARGE OF THE OPERATION
OF THE RICHMOND POWER AND LIGHT.
January 1`6, 1961
Regular session was called to order by Chairman Marino at 7:00 PM in the
Council Chambers in City Hall. Board member Salzarulo absent. The following
business was had to-wit:
Councilman J. Hoskins moved, that the reading of the minutes of the previous
meeting be dispensed with, seconded by Councilman Johnson, unanimous voice
vote.
Councilman Johnson moved, that the bills in the amount of $503,938.14 be
allowed and paid, seconded by Councilman Youngflesh, unanimous voice vote.
The following transfers from Cash Operating Fund were included in the bills:
(1) $27,846.26 to Utility Bond Fund Cash
(2) $45,127.43 to Cash Reserve Fund
(3) $36,000.00 to Deprea.ciation Reserve Fund
General Manager Beck, explained that the unusually high amount of the bills
was due to the purchase of Bonds, payment of interest on Bonds and Social
Security Tax.
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General Manager Beck, submitted the annual financial and operating statistics
to the Committee for 1960, the report recorded the first million-dollar gross
income for the light. plant, and a $961,239.85 net income.
Councilman Yount moved, to concur with the recommendation of- General Manager
Beck, tq advertise for bids on a 1961 automobile (new) with a 1954 Plymouth
. as a trade-in, seconded by Councilman C. Hoskins, unanimous voice vote. The
sealed bids are to be opened at 7:00 PM February 6, 1961, (CDT) in the Council
Chambers in City Hall.
Councilwoman C. Hoskins moved, to authorize General Manager Beck to advertise
for bids on a new ##10-MVA transformer, seconded by Councilman Youngflesh,
unanimous voice vote. Sealed bids to be opened in the Council Chambers of
City Hall, Richmond,• Indiana, February 20, 1961 , at 7:00 PM (CDT).
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Councilman Yount moved, that the Committee approve the purchase, of Revenue
Bonds in the amount of $10,000.00 from the John Nuveen & Co. .of Chicago, Illinois, .
at a discounted price of $9,650.00 bearing. 3 per cent interest and maturing
January. 1, 1974,`::seconded by Councilman J. Hoskins, unanimous voice vote. The
purchase will result in a .savings of-$4,250.00
General Manager Beck, reported that anyone interested in Electric Heat call
Mr. Stackhouse for information. -
There being no further business the meeting adjourned.
Chairman
Attest: ,et )
Clerk