HomeMy Public PortalAbout05-19-1947 160
MEETING OF THE COMMON COU1\TCIL , SFRVING AS A
COMMI TT77 I r CHARGE OF THE OPATI ON OF THE
MUNICIPAL ELECTRIC LIGHTING & POWER PLANT
. OF THE CITY OF RICHMOND, INDIANA.
The Common Council of the Citycof Richmond, Indiana, serving as a
Committee in charge of the operation of the Municipal Electric Lighting
& Power Plant of said City , met in the office of the Mayor, Monday,
May 19th, 1947 at 8:30 o 'clock P. M. Messrs. Chambers, Ewbank, Harris,
Homan, Kinder, Marino, Russell & Tracy being present the following
proceedings were had to-exit;
The minutes of the preceding meeting was, read and approved;
On the recommendation of Mr. Stevens the Committee unanimously
approved the transfer of $340,916.80 from the Depreciation Reserve
Fund of the M. E. L. & P. P. to the General Fund Cask of the same said
Plant.
Mr. Stevens stated United States Certificates in the Federal Reserve
Bank of Chicago would be mature in the near future in the amount of
$495,000.00 plus interest and he would recommend that as much of this
fund as possible be re-invested in the same kind of certificates. After
further discussion with the Committee Mr. Homan moved Mr. Stevens, City
Controller & the Treasurer be authorized to re-invest to the best of
their judgment in same kind of certificates as the previous investment
in the amount available at time certificates are due. With a second by
Russell the motion was unanimously approved.
Mr. Stevens reported since the last meeting of the Committee it had
been .necessary to obtain electric current through the inter-connection
system while repairs were made on some of the old eq,uippment at the Plant.
Councilman Kinder suggested a railing be install in front of the Light
Plant Office from the top step to the sidewalk, this being taken under
further advisement.
After allowing claims in the amount of .$218,150.88 on proper motion
the meeting adjourned.
President
Attest;
ieL,
City Clerk
The above transfer from Depreciation ReserveFunds consists of the
following items:
Turbin first payment $150,007.00
Boiler " " 60,724.30
Second payment 23,355.50
Cooling Tower Contract 44,457.00
" Pump Contract 5,573.00
Conderser Contract 56,800.00
Total $340m916.80