HomeMy Public PortalAbout08-15-1960 309
MINUTES OF THE MEETING OF THE COMMON COUNCIL OF THE •
CITY OF RICHMOND, INDIANA, SERVING AS A COMMITTEE IN
CHARGE OF THE OPERATIONS OF THE MUNICIPAL LIGHT PLANT.
August 15, 1960
Regular session was called to order by Chairman J. Hoskins at 7:00 FM,
in the Council Chambers of City Hall, Councilman Johnson absent. The
following business was had to-wit:
Councilman Sthithmeyer moved that the reading of the minutes of the
previous meeting be dispensed with, seconded by Councilman Youngflesh,
unanimous voice vote.
Councilman Youngflesh moved the bills in the amount of $202,328.84 be
allowed and paid, seconded by Councilman Yount, unanimous voice vote.
The following transfers from Cash Operating Fund were included in the
bills:
(1) $28,t58.75-- To Utility Bond Fund Cash
(2). $.28,74;8.o9-- To Cash Reserve Fund
(3) $36,000.00-- To Depreciation Reserve Fund Cash
General Manager E. Beck reported the system demand was off 7.21% and the
peak load was off .93% this July from July 1959, probably caused by the
relatively cool weather. . ,
Mr. Beck asked the directors of the Light Plant to study whether some of
the Light Plants depreciation reserve fund should be invested in short-term
government bonds or whether some of the Plants revenue bonds should be
redeemed, and added, that arrangements have been made with the local banks
.for the safe keeping- of bonds purchased in the future..
•
Mr-. Beck reported a lineman had found and corrected the cause of the radio
and television interference in the vicinity of 18th to 19th on North "C"
street.
.
There being no further business, the meeting adjourned;
Chairman
Attest: d<--r404-,
Clerk •