HomeMy Public PortalAbout02-01-1960 2.9.5
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MINUTES OF TI �IEETAING OF THE COMMON COUNCIL OF THE CITY
OF RICHMOND, IA NN
SERVING AS A CONLMITTEE IN CHARGE OF THE OPERATION OF THE
MUNICIPAL ELECTRIC LIGHTING AND POWER PLANT.
February 1, 1960
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Regular session was called to order by Chairman J. Hoskins at 7:00 PM, in the
Council Chambers of City Hall, all members present. The following business
was had To Wit:
Councilman Marino moved the minutes of the previous meeting be dispensed with,
seconded by Councilman Yount. Unanimous voice vote.
Councilman C. Hoskins moved that the bills in the amount of $84,815.86 be
allowed and paid, seconded by Councilman Smithmeyer. Unanimous voice vote.
Mr. Beck reported that the increase in the annual dues to $60.00 per year by
the Retail Merchants Association was due to their increased activity and
promotion. Councilman Salzarulo moved that the amount of bill for the dues be
approved and paid, seconded by Councilman Smithmeyer. Unanimous voice vote.
Mr. Beck recommended that $1,342,000.00 in government bonds drawing 3 3/4%
interest be exchanged for bonds drawing4 7/8% interest, which is
possible at
this time. Councilman Smithmeyer moved to approve the recommendation, seconded
(,�1, by Councilman Marino.
Mr. Beck reported the Light Plant generation for January, 1960 showed an
increase of 7.73% over January, 1959. -
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Mr. Beck reported a transformer failure at the south generating station
January 28, 1960 at 3:30 AM. The City was immediately switched over to the
interconnection with the Indiana and Michigan Electric Co. Mr. Beck said the
repair to the $100,000.00 transformer was started after an inspection by the
. General Electric Co. The failure was determined to have been caused by a
grounded circuit. The repair -to the equipment is expected to take about six
weeks. Most of the loss is covered by insurance.
There being no further business, on motion duly made and seconded, the meeting
adjourned.
Joseph E. Hoskins
Chairman -
ATTEST: Glenn J. Chapman
• Clerk .