ABC ASSOCIATION
MINUTES OF THE REGULAR MEETING
OF THE BOARD OF DIRECTORS
July 10, 2002

4:15 p.m. Meeting called to order. The following directors and guests were present:

John Doe, President
Jane Smith, Vice President
David Jones, Secretary
Mark Brown, director at large, participated by conference telephone through which all directors could hear and speak to one another.
Absent: Matthew Baker, Treasurer
Guests: Manager Bob Jackson and Adrian Adams, Association attorney

The minutes of the June 10, 2002 meeting were approved with changes. The Treasurer's report was given by Jane Smith in Matthew Baker's absence.

Prepayment of Dues
Bob Jackson brought to the Board a prospective buyer's request to prepay ten years of dues. After discussing the request, Mr. Brown moved to accept the prepayment. The motion was seconded by Mr. Jones. The Board then discussed the pros and cons and decided that prepayment could create accounting problems over the next ten years, especially with any future increases and/or special assessments. Plus, future Board's might be tempted to spend the money instead of applying it to operational and reserve requirements. The motion was defeated. Mr. Brown then offered a second motion to accept prepayment one year in advance. The motion passed unanimously.

Security System
Mr. Jackson updated the Board on the status of the Honeywell security system installation. The Board asked the manager to send a notice to the membership explaining the benefits of installing the new residential security panels in each unit.

Executive Session
6:00 p.m. After announcing to the membership the topics for executive session, the Board adjourned into executive session.
  1. The Board reviewed three bids for repairing the Clubhouse roof.
     
  2. The Board approved filing liens against 4 delinquent owners.
     
  3. After discussing the architectural violations of an owner who refuses to comply with the CC&Rs, the Board approved legal action to bring the property into compliance.
     
  4. The Board reviewed and approved the manager's contract for another year under the same terms and conditions as the prior year's contract.

7:00 p.m. Meeting adjourned.

The foregoing minutes have have been approved by the Board of Directors.


_________________________
Davy Jones, Secretary 

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