2004, October (B)

 

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Red Bank Oaks

Vote by Mail

October 2004

 

Proposed Use of Power Funds for Road Maintenance (2004-2005)

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SUMMARY:

 

YOUR VOTE IS REQUIRED.  We did not have a quorum at the October 2004 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 2004-2005 fiscal year power reserve allocation to allow $6,000 to be spent on road maintenance this year.  Reference the 19 October 2002 agenda summary regarding funding restrictions and 23 October 2004 meeting minutes regarding road maintenance.

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VOTING CARD: 

 

Whether or not to allow $6,000 to be drawn from current year power reserves to

support road maintenance and repair this year (October 2004-October 2005).

This action requires a majority vote of all the landowners since the funding would

be drawn from the power fund reserve and effectively override the CC&Rs

(reference CC&Rs, Article III, Management, para 6).  YOUR VOTE COUNTS!

 

                (ONLY ONE ACTION MAY BE TAKEN):

 

q Yes:  Allow up to $6,000 to be drawn from this year’s $9,000 power

reserve to support road maintenance and repair expenditures for the

2004-2005 term.  $3,000 remains allocated to power fund this year.

 

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 $6,000 to be drawn from current year power reserves to support road maintenance and repair this year (October 2004-October 2005).  This action requires a majority vote of all the landowners since the funding would be drawn from the power fund reserve and effectively override the CC&Rs for the 2004-2005 term.  (reference CC&Rs, Article III, Management, para 6).  The Association has 69 landowners entitled to vote.   A majority vote would therefore consist of 35 votes.

 

 

Total Valid Votes Received:

27

Yes:  Allow funds to be drawn from power reserves:

21

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

4

Neutral or Other:

2

 

 

Action to be Taken:  As only 21 votes were received in favor of overriding the CC&Rs, where at least 35 votes are required, $6,000 will NOT be drawn from current year power reserves to support road maintenance for the 2004-2005 term as proposed.

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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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Last modified: 02/21/09