HomeMy Public PortalAbout05-20-1946 1 ,'?�L4
MEF TING OP THE COMMO7 COUNCIL SERVING AS A
COMMITTEE I: CHARGE OP THE OPERATION. OP THE
MUNICIPAL ELECTRIC LIGHTING & POWER PLANT
OF THE CITY OF RICHMOND, 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 Works,
Monday,May 20th, 1946 at Sa30 o'clock P. M. -- Messrs. Brehm , Chambers,
EWbank, Harris, Homan, Kinder, Marino, Russell &.Tracy being present the
following proceedings were had to-wit;
The minutes of the preceding meeting were read and approved.
A report was presented from Mr. Stevens , stating the United States III
Certificates in the Federal Reserve Bank at Chicago were mature in the
near future in the amount of $7506000.00 plus interest, and Mr. Stvens
recommended that the amount be invested for a period of one year from
date maturity. Mr. Brehm moved the recommendation of Mr. Stevens be com-
plied with and said certificates be purchased for a period of one year
from maturity. With a second by Kinder the motion was unanimously approved.
Councilman Tracy stated due to the financial report at hand he would
move that $100,000.00 be transferred from thu General Fund of the M E. L.
& P.P. Account to the Reserve Fund Cash of the same said Plant.: With a
second by Kinder the motion was unanimously approved.
Mr. Earl Beck,Acting Mgr. of the Light Plant in the absence of Mr Stevens
reported Mr. Stevens was improving rapidly and propably would be present at
the next regular meeting.
Mr. Beck gave a report on the amount of Coal received and that in transient
stating he hoped to get a little reserve during the 12 day active period of the
miners.
After allowing claims in the amount of $ 25,009.06 on proper
motion the meeting adjourned.
Presi nt
Attest;
City Clerk
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