HomeMy Public PortalAbout03-18-1957 217
MINUTES OF THE MEETING OF THE COMON 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, MARCH 18, 1957
Regular meeting called to order at 7:00 PM in Council Chambers in City Hall.
Councilman Eastman presiding. Councilman Marino absent.
Councilman Smithmeyer moved the reading of the minutes be dispensed with. Seconded
by Councilman Thomas.
Councilman Crum moved the bills be`allowed, including the bill for membership of
the M.E.L. & P.P. fan the Committee of 100, and that Mr. Beck recommend four persons
to attend the meetings of the Committee of 100 with him. Seconded by Councilman
Thomas.
Mr. Beck reported he had received the following proposals for appraisal of Light
Plant property for insurance purposes:
mL1oyd..Thomas Company
- Maximum Fee for primary appraisal $7500.00
i - Appraisal maintenance service 750.00 per year on 5 yr. basis
Coats & Burchard Company
Maximum fee $6850.00 plus 1010 7535000
Annual revision service 740.00
Rau Appraisal Company
• Maximum charge ' Not to exceed 150 per $100.00
of value in the Replacement Neu
Value Certificate
Annual continuous service 1.20 per $100.00 wrown on rep.
placement New Value Certificate
on 5 yr. basis
American Appraisal Company
Maximum fee .a $5000.00 plus 10% 5500.00
Annual continuous service 650.00
Modified continuous service 500.00 per yr.on a 3 yr.
- reporting basis
Councilman Thomas moved to accept the bid of the American Appraisal Company provided
the Insurance Underwriters will accept the appraisal oft sntompary. ``seconded by
Councilman Crum.
Claims in the amount of $1873113.58 were allowed. Of this amount, the following
transfers mere made:
Cash operating Fund to I°epreciation Reserve Fund a. $36,000.00
Cash operating fund to Cash Reserve Fund . 52,157.24
Cash Operating Fund to Utility Bond Fund - $30,520.84
There being no further business, on motion duly made and seconded, the meeting
adjourned.
President Pro.Tem
Attest: •
City Clerk