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HomeMy Public PortalAbout02-04-1957 214 MINUTES 0 ' 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, FEBRUARY 4, 1957 Regular meeting called to order at 7:00 PM in Council Chambers in City Hallo Councilman Marino presiding. Councilman Crum absent. . Councilman Salzarulo moved that the reading of the minutes of the previous meeting . be dispensed with. Seconded by Councilman Eastman. Unaminous© Councilman Eastman moved the bills be allowed. Seconded by Councilman Thomas. Unaminous. • It was decided by unaminous consent that a meeting of the Light Plant committee would be held in the Council Chambers tit 7:30 PM on February 7, 1957. Purpose of said meet- ing to discuss the operations of the MEL & PP. Mr. Beck reported that the system demand for January was up 1.86% over January of 1956, but that the peak load was down 4,07%... It was reported by Mr. Beck that the new stack extension had been completed at the 114hitewater Valley Generating Plant and it seemed to be operating satisfactorily. He also reported the only contract not completed was the one for the stack extension. Mr. Beck said he had written four letters regarding appmaisers for the Johnson St. Plant, but had received no propositions as yet. Mr. Porter, Office::Manager, reported to Mr. Beck that there was $200,000.00 worth of Series J Savings Bonds on hand and that they presently were paying interest at the rate of 1.51% and, asked of he could cash -them and invest the money in other Govern- ment Bonds that paid'a highttr interest rate. Councilman Salzarulo moved that Mr. Beck be authorized to sell said bonds and reinvest .in bonds paying-.a better rate. Seconded by Councilman Smithmeyer. Unaminous. When questioned about homes heated with electricity, Mr. Beck said that at present there were 15 such homes in Richmond and that all reports indicated the consumers were very satisfied Thith the heat, Mr. Beck said he felt that more and more homes would be heated with electricity in the future as this type of heating was proving to be very satisfactory. Claims in the amount of $183,237.65 were allowed. There being no further business, on motion duly.made...and seconded, the meeting adjourned. Attest: _ l//��vr. 4 - City Clerk l .