2002, October (B)

 

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Red Bank Oaks

Vote by Mail

October 2002

 

Proposed Use of Power Funds for Road Maintenance (2002-2003)

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SUMMARY:

 

YOUR VOTE IS REQUIRED.  We did not have a quorum at the October 2002 meeting.  A motion was made at the meeting to override the CC&Rs 2/3 grazing clause for this fiscal year to allow landowners to draw on the 2002-2003 fiscal year power reserve allocation to allow up to $5,000 to be spent on road maintenance this year.  Reference the 19 October 2002 agenda summary regarding funding restrictions and 19 October 2002 meeting minutes regarding road maintenance.

 

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VOTING CARD

 

Whether or not to allow funds to be drawn from power reserves to allow up to

$5,000 to be spent on road maintenance and repair this year (October 2002-

October 2003).  This action requires a majority vote of all the landowners since it

would effectively override the CC&Rs 2/3rds clause (reference CC&Rs, Article III,

Management, para 6) for the 2002-2003 term.  YOUR VOTE COUNTS!

 

                (ONLY ONE ACTION MAY BE TAKEN):

 

q Yes:  Allow funds to be drawn from the power reserves to support

         road maintenance and repair expenditures up to $5,000 for the 2002-2003 term.

 

q No:  Do not allow funds to be drawn from the power reserves to

         support road maintenance.

 

q Neutral or Other:  _____________________________________

 

 

___________________

 

____________________________

Parcel Number(s)

 

Landowner Signature

 

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RESULTS

 

Whether or not to allow funds to be drawn from power reserves to allow up to $5,000 to be spent on road maintenance and repair this year (October 2002-October 2003).  This action requires a majority vote of all the landowners since it would effectively override the CC&Rs 2/3rds clause (reference CC&Rs, Article III, Management, para 6) for the 2002-2003 term.  The Association has 69 landowners entitled to vote.   A majority vote would therefore consist of 35 votes.

 

 

Total Valid Votes Received:

42

Yes:  Allow funds to be drawn from power reserves:

35

No:  Do not allow funds to be drawn from power reserves:

5

Neutral or Other:

2

 

 

Action to be Taken:  Up to $5,000 may be spent on road maintenance and repair this year (October 2002 – October 2003).  The treasurer may draw on power reserve funds for the 2003-2003 term, if necessary, to allow up to $5,000 to be spent on road maintenance.  This does not mean a full $5,000 will be spent on road maintenance, it only means up to $5,000 can be spent on road maintenance if necessary.

 

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BREAKDOWN OF VOTES AND COMMENTS:   

No Response

Draw Money from Power Fund for Road Maintenance

Do NOT Draw Money from Power Funds

Neutral or Other

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Copyright © 2008 Red Bank Oaks Property Owners' Association
Last modified: 02/21/09