HomeMy Public PortalAbout02-02-1959 265
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, F'EBRUARY 2, 1959
•
• REGULAR SESSION' CALLED TO' ORDER AT 7:00 PM IN THE COUNC"'I L CHAMBERS III
CITY .HALL WITH COUNCILMANI CRUM PRES'ID"ING . ALL MEMBERS PRESENT. THE
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FOLLOWING BUSINESS WAS HAD, TO—WIT;
FIT WAS MOVED AND SECONDED THAT THE READING OF THE MINUTES OF THE PREVIOUS
MEETING BE DISPENSED WITH.II
'
COUNCILMAN VIVIAN MOVED THAT THE BILLS BE ALLOWED AND PAID AN THE AMOUNT
' OF $320,6-5 1 .68. COUNCILMAN 'MA R I'NO SECONDED.' UNANIMOUS VOICE VOTE. '
I I I
CHAIRMAN CRUM ANNOUNCED THAT THERE WOULD BE A MEETING WITH THE LIGHT PLANT
MANAGER 'AT THE WHITEWATER STATION , -FEBRUARY II , 1959 AT 7:00 P. M.
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COUNCILMAN MARINO ASKED MR. BECK ABOUT THE TRAFFIC LIGHTS THAT WERE TO BE
INSTALLED, ON NORTH 10TH & ' "J" ST. IT WAS STATED THAT THE LIGHT PLANT HAID
„...i, RETURNED A BID -FOR SAME TO THE BOARD OF PUBLIC WORKS & SAFETY AND I TI WAS
CI BEING HELD FOR FURTHER STUDY AS THE BOARD FELT THE BID WAS HIGH . CITY
ATTORN.EYjCECERE STATED THAT THERE MIGHT HAVE BEEN A MIS UNDERSTANDING 'AND
r IF NOTT, THEY FELT THEY SHOULD RECEIVE OTHER' BIDS.
• MR-I. BECK SAID THAT'' THE GENERATION FOR JANUARY , 1959 WAS UP 1 1 .90%. PEAK
LOAD WAS UP 10% ABOVE THAT OF JANUARY , 1958.
•
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MR. BECK' DISCUSSED THE REINVESTMENT OF CASH FUNDS. HE STATED' THAT
$797,000.00. WORTH OF BOND'S WITH THE FIRST RESERVE BANK IN CHICAGO WOULD.
MATURE' I N BEB. 14, 1959 AND $545 ,000.00 WITH THE CONTI NENTAL I LL I NO I S'
NATIONAL' BANK WOULD MATURE THESAME DATE , AT 22%. MR. BECK STATED. THAT •
BONDS AND SECURITIES FOR THESE AMOUNTS HAD BEEN OFFERED BY THESE BANKS
AT 3% MATURING IN FEB . 1960. MR . BECK ASKED PERMISSION FROM THE COMMITTEE
TO REINVEST $i ,342,000.00. COUNCILMAN MARINO APPROVED , COUNCILMAN THOMAS
SECOND: UNANIMOUS VOICE VOTE. ' -'
I •
THE FOLLOWING TRANSFER WAS INCLUDED IN THE BILLS TO BE PAID;
-II
FROM CASH OPERATING FUND , $23 ,'945.93 TO' UTILITY', BOND FUND—CA'SH
THERE BEING NO FURTHER BUSINESS , IT WAS MOVED AND SECONDED THAT THE MEET—
ING ADJOURN.
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. ATTEST; "���L��/ ‘•C/7� .
A-C.T1 N-G CLERK I
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