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HomeMy Public PortalAbout06-17-1957 223 MINUTES OF THE MEETING OF THE COMMON COUNCIL OF THE CITY OF_ RICHMOND,INDIANA, SERVING AS A COMMITTEE.IN CHARGE.OF THE OPERATION OF THE MUNICIPAL ELECTRIC:LIGHTING AND POWER PLANT, MONDAY, JUNE 17,1957 Regular meeting called to order at 7:00 P.M. in-Council Chambers in City Hall. Councilman Eastman presiding. Councilman Marino absent. The following business was had; to-:wit; Minutes dispensed with. ~ Councilman S:aithmeyer moved the bills be allowed, Seconded by Councilman Thomas. Mr. Beck read a letter from Harry Ray Post 165s American Legion, asking for Light Plant help and cooperation with the Fourth of July fireworks display. Councilman Walterman moved that the usual cooperation.be given the .Leagion in their fireworks display. Seconded by Councilman Smitlumeyer, C') The following bids were presented for replacement of a car for the Line Dept. .. Kurdys Chevrolet $1525.00 L.,;; Parrish-Nash Rambler 1599.95 Brown Motor Plymouth 8 `1600 00 _ Dea Meadows-Ford 1750,00 Raper Sales-Plymouth 1817.00 Rhoads-Plymouth 1832.75 .Councilman Thomas moved the bid be awarded to Kurdys Chevrolet. Seconded by Councilman Salzarulo. Unaminous, Mr, Beck read letter the City Controller had received from John Nuveen & Co. offering to vedeem $300,000,00 in revenue bonds on the new light plant for 92.75% IIIof their face value. Mr. Beck said a transaction of this sort would save the Light Plant $136o500.00 interest, but that present bond holdings would have to be sold at par in order to purchase these bonds. Councilman Crum. , oved this matter bs taken under advisement. Seconded by Council- women Hoskins. The Presiding Officer called a special meeting of the Light Plant Committee for 7:00 PM Tuesday, June 18© 1957, to be held in the office of the Mayor for further discussion of this matter. Claims in the amount of $148,522.48 were allowed. Of thisa mount the following transfers were made; $30,229.17 from Cash Operating Fund to MEE;&PP Bond Fund o Cash . $36,000.00 from Cahs Operating Fund to MEL&PP Depreciation Reserve Fund $25,885.04 from Cahs Operating Fund to MEL&PP Cash Reserve Fund. There being no further business, the meeting adjourned. e0. ..e.tc,". . Prbsident Prot-, Attest; 4-11-(d-/Y /e- ---- I