HomeMy Public PortalAbout03-20-1950 248
PROCEEDINGS OF THE COMrIDN 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 20, 1950.
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, met
in regular session in the office of the Board of Public Works and Safety in the City
Hall in said City, Monday, March 20, 1950, at 8:30 o'clock P.M. Councilman Harris
presiding with the following members being present: Messrs. Baldwin, Chambers,
Eastman, Law, Marino, Myers, Russell and Tracy. The following proceedings were
had, to-wit:
On motion duly made, seconded and carried unanimously, the minutes of the pre-
vious meeting were dispensed with.
Mr. Beck gave the following report on the Barrett Bonds that were held by the
plant:
March 13, 1950
•
Mr. Earl Beck, Manager
Municipal Eletric Lighting and Power Plant
Richmond, Indiana
Dear Mr. Beck:
I have before me the list of Barrett Bonds owned by the M.E.L,& P.P.,
in the amount of $14,623.86, together with the expiration date. of the Statute
of •Limitation, and it is my opinion that- these bonds are non-collectible.
I would therefore recommend, which is in line with the recommendation
of the State Board of Accounts, that these bonds be ,charged off your books,
leaving a small amount, as a token amount, and that the bonds be retained by
the County Treasurer intact,
Very truly yours,
/a/ Clifford y, Haworth, City Atty.
March 15, 1950
Basil Bales, County Treasurer
Dear Sir:
We are enclosing a copy of the letter from Mr. Clifford M. Haworth,
City Attorney, in regards to Barrett Law bonds in our Depreciation Reserve Fund
in the amount of $14,623.86. You will note that these bonds are all past the
expiration date of the Statute of Limitation and are non-collectible.
On September 20, 1948, Common Council acting as a Board of Managers
of the M.E.L.? P.P. took official action, authorizing these bonds to be de-
pleted from the Depreciation Reserve Fund. This action is shown in the Council
minutes of the above date.
This matter was also taken up wi4h the Examiner for the State Board
of Accounts, and was authorized in their audit report dated. December 28, 1948.
We are therefore charging these bonds off our records as of March 31,1950,
leaving only token amount of $1.00 shown in the Fund representing the bonds,
which are to be reatined intact by the County Treasurer.
A list of the bonds showing the numbers and amounts is also enclosed.
Very truly yours,
• /s/ E.S. Porter
The committee allowed claims in the amount of $59,053.61. Of this amount there
were the following transfers: $182.79 from the Depreciation Resrve Fund Cash to
Cash Operating Fund; $21,024.97 from the Cash Operating Fund to Depreciation
Reserve Fund Sash.
COUNCILMEN MYI;R1JND RABBIS; VD INSPECT THE CLAIMS FOR APRIL, 1950.
There being no further business presented, on motion duly made, seconded and
carried the meeting adjourned.
Chairman
Attest:
Ci , Clerk