HomeMy Public PortalAbout06-17-1946 136
MEETING OF THE COMMON COUNCIL SERVING AS A
COMMITTEE IN CHARGE OF THE OPERATION- OF THE
MUNICIPAL ELECTRIC LIGI'TING & POWER PLANT
OF THE CITY OP RICH YMOND, INDIANA.
The Common Council of the City of 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 Board of Work¢.Monday
Ji.n.e 17th, 1946, at 8;30 o 'clock P. •M. Messrs. Brehm, Chambers,
Ewbanle; Harris, Homan,Kinder, Marino, Russell & Tracy being present the
following proceedings were had to-wit;
The reading of the minutes-of the previous meeting was dispensed with.
The following Resolution No. 6-1946 was presented and read in full by
-Councilman Kinder;
WHEREAS, the City of Richmona.tthru the Municipal Electric Lighting &
Power Plant is the owner of certain Barrett Law Improvement Bonds Nos.
8194,8,195, 8,196 , 8,197,8,198 & 8,199 in the face value of $580.03 and
WHEREAS, said Bonds are now defunct and outlawed by the Statute of
Limitations and
WHEREAS, said Bonds were all foreclosed in the Wayne Circuit Court
at the same time the other Bond Holders in that issue were party plaintiffs
gong with the said City of Richmond, Indiana, and
WHEREAS, the parties in said lawsuit share pro-rata and
WHEREAS, the real estate covered by said bond issue was of very low
value and
WHEREAS, there is now available for the said City of Richmond and the
Municipal Electric Lighting & Power Plant the sum of $50.00 which will be
paid upon surrender of said Bonds and .
WHEREAS, it is to the best interest of the said City and said Light
Plant that they be surrendered
THEREFORE BE IT RESOLVED
By the Common Council in regular session as managers of the said Muni-
cipal Electric Lighting & Power Plant thru Forrest Lacey , City & County
Treasurer surrender the aforesaid bonds and accept the sum of $50.00.
BE IT FURTHER RESOLVED THAT, this resolution shall be sufficient authority
for the said Forest Lacey to make such surrender.
` Adopted this 17th day of June, 1946, by the Common Council of said City
of Richmond.
Mr. Harris moved the resolution be adopted as read. With a second by
Tracy the motion was unanimously approved and the resolution was declared
adopted.
The Committee discussed with Mr. Stevens and various department repre-
sentatives of the City the matter of a centralized Radio system that would
serve the Police Department, Fire Department & Light Plant construction
Department, Mr. Earl Beck was presefit in the interest of the Light Plant
along with Ramsey McDonald,Chief Radio Operator, Fire Chief,Less Wt�lliams
and Police Chief Ellis Duckett and after some discussion Councilman Brehm
moved further consideration be had in the matter and a report be made at
the next regular meeting of the Committee in July. With a second Russell
the motion was unanimously approved.
On the recommendation of Mr. Stevens the Committee unanimously approved
the renewal of a contract with the Standard Oil Company for the furnishing
of oil at the Light Plant for a period of one year beginning July 23rd, 1946. -
Mr. Stevens reported the sum of $495,000.00 had been invested in U. S.
Treasurer Certificates as recommended by the Committe at the previous meeting
and the the bonds in that amount were deposited in a Safety Deposit Box in
the Federal reserve Bank in Chicago and the remainder of the original amount
of $750,000.00 plus the interest had been returned and placed in the accpunt
of the Depreciation Reserve Fund Cash of3the Light Plant. Mr. Stevens ex-
plained that only 60% OF THE ORIGINAL INVETMENT was acceptable.
1 :;7
Mr. Stevens reported a sufficient amount of coal on docks at present
and stated some of the prices per ton were retroactive as:: a definite
rul'^,' on the price per ton had not been established as yet to the
consumer. Mr. Stevens was authorized to purchase coal on open market for
storage
Mr. Stevens call-attention to the Committee in regard to an increase
in the rates on Fire & Windstorm Insurance at the Plant & etc.
The Committee unanimously approved and authorized Mr. Stevens to obtain
bids for equippment for emergency use at the Light Plant whereever available
and whenever needed.
After allowing claims in the amount of $40,0145.51 the meeting
adjourned.
President
Attest; / lO
City Clerk