HomeMy Public PortalAbout05-18-1959 272
MINUTES OF THE MEETING OF, COMMON COUNCIL
OF THE CITY OF RICHMOND, INDIANA, SERVING
AS A COMMITTEE IN CHARGE OF THE OPERATION
OF THE MUNICIPAL ELECTRIC LIGHTING & POWER
PLANT.
MONDAY, MAY E8, i959
REGULAR SFJSSION , CALLED . TO ORDER AT 7: 00 PM IN CITY HALL WITH COUNCIJL- -
WOMAN HOSK,I NS . PRES I D I NG. COUNCILMAN CRUM AND SALZARU LO ANC :THOMAS BEING
ABSENT. THE FOLLOWING MINUTES WERE RECORDED , TO-Wr; T , I •
, COUNCILMAN SMITHMYEFE MOVED ITHEREADING :OF THE MINUTES OF THE PREVI'OUS
.MEETING IBE DISPENSED WITH . SECONDED BY COUNCI LMAN MARI NO . UNANIMOUS !
VOICE VOTE® . .
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COUNCILMAN MARINOIMOVED THAT BILLS IN THE AMOUNT OF $157,993 .84 BB
ALLOWED AND PAID . SECONDED BY COUNCILMAN SMITHMEYER . UNANIMOUS VOICE VOTE.
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MR. BECK REPORTED HE !HAD RECEIVED A COMMUNICATION FROM NEWHARD , COOK AND
CO . , IN ST. LOUIS, OFFERING TO SELL TO THE MEL&PP 1981 REVENUE BON.DSJI'N
THE AMOUNT OF 85 ,000.00 AT A DISCOUNT OF 393. 25 PER 8100. 00. HE SAID THIJS
WOULD REPRESENT A SAVINGS OF 8337. 50 ON THE PRINCIPAL _ AND 83 ,588.54 IN
INTEREST . MR . BECK SAID .FIE . HAD ' FOLLOWED THE USUAL PROCEDURE AND PURCHASED
THESE BONDS. COUNCILMAN EASTMAN MOVED THAT THE PURCHASE OF THESE „BONDS
BE APPROVED BY THE LIGHT PLANT COMMITTEE . SECONDED BY COUNCILMAN SM !_TH-
MEIER. UNANIMOUS VOICE . •
MR. DECK TOLD THE COMMITTEE THAT THE LIGHT PLANT COMMITTEE SHOULD PUR-
CHASE FROM THE SECOND NATIONAL BANK SOME OF THE REVENUE BONDS THEY HAD
OBTAINED AND SUGGESTED THAT 815 ,000.00 BE USED. HE SAID THAT THIS PUR--
CHASE_;WOULD REPRESENT A SAVINGS OF 8632e55 IN PRINCIPAL AND 85662.50 IN _.
INTEREST . COUNCILMAN V I V I AN MOVED THAT MR. BECK BE "AUTHORIZED TO PUR-
CHASE 815 ,000.00 WORTH OF 1972 REVENUE BONDS AT THE ABOVE MENTIONED
SAVINGS . SECONDED BY COUNCILMAN WALTERMAN ._ 'UNANIMOUS VOICE VOTE.
REPORTING ON A 1948 DU4-P TRUCK NOW BEING USED BY THE LIGHT PLANT , BE _
ASKED PERMISSION TO ADVERTISE FOR BIDS F,OR A REPLACEMENT. SAID BIDS
TO BE RECEIVED JUNE 15 , 1959. HE WAS GIVEN• UNANIMOUS CONSENT TO PREPARE
SF]ECIFICATIONS AND ADVERTISEMENTS FORA NEW (DUMP TRUCK.
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COUNCILWOMAN HOSKINS ANNOUNCE-D THERE WOULD DE A MEETING OF !THE LIGHT '
PLANT COMMITTEE AT 7: 30 PM AT THE' WH I TEWATER VALLEY GENERATING PLANT TO
DISCUSS A WAGE ADJUSTMENT FOR EMPLOYEES WF THE MEL&PP. SAID MEETING TO
BE ON MAY 25 , 1959. - '
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INCLUDED IN THE BILLS WERE THE FOLLOWING TRANSFERS;
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S29, 125.48 FROM CASH OPERATING FUND. TO UTILITY BOND FUND-CASH
836 ,000.00 FROM CASH OPERATING FUND _11O DEPREC IIATI ON- RESERVE FUND-CASH
T831 ,672. 11 FROM CASH OPERATING FUND TO CASH RESERVE _'FUND T Y J .
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THERE BEING NO FURTHER BUSINESS , ON MOTION DULY MADE , SECONDED AND
CARRIED , _ THE MEETING ADJOURNED . -
CLARA ' LOUISE HOSKINS , PRESIDING
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ATTEST; de..;° A •
DAVID KEYSER , CLERK
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