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MINUTES OF ANNUAL MEETING
OF
HOMEOWNER ASSOCIATION OF SPALDING GREEN
On Thursday, November 29, 2001 at the appointed time as set forth in the Notice properly sent and delivered to the membership in accordance with the Bylaws, the meeting was called to order at approximately 7:30 p.m.. Attendance, including proxies, greatly exceed the 30% required pursuant to the Bylaws to constitute a quorum. The minutes of the last meeting of the Association were presented and accepted by vote of the membership.
The President, Michael King, gave a report on the adjacent property that was rezoned in September of 2000 and advised the membership that the sewer moratorium is delaying the construction and the construction may not be commenced on that property until the summer of 2002.
In addition, the membership was advised of a slate of directors who was recommended by the Board who had indicated their willingness to serve as members of the Board of Directors for a two year term commencing January 1, 2002, i.e. proposed Board members were: Don Besch, Michael Feldman, Jonathan Ginsberg, and Gerald Reisman. These individuals were recommended to be elected to replace the four members of the current Board who have completed their terms, i.e. Michael J. King, Wendy Klarman, Gerald Reisman, and Don Besch. Nominations were accepted from the floor for the election of the directors and following the nominations duly moved and seconded, the elections proceeded with the following individuals elected to the Board of Directors: Don Besch, Michael Feldman, Jonathan Ginsberg, and Elaine Brasch, and Gerald Reisman was re-elected as parliamentarian. These individuals will serve with Elaine Brasch whose term expires on December 31, 2002. The newly elected Board will elect officers at the first meeting of the Board.
There were no committee reports presented. The ACC for 2002-2003 will be chaired by Sheron Bamaby. Annual dues will remain at $225 for 2002 as approved at the meeting. All matters for ACC consideration and approval must be submitted through the chairman in triplicate.
The current Treasurer, Elaine Brasch, submitted a financial report on the condition of the Association's finances for the period January 1, 2001 through November 30, 2001. Copies of the budget were made available to the membership and the budget was discussed.
Following approval of the budget/financial statement, new business was brought before the membership in accordance with the Notice of the Meeting. Specifically, the issue was discussed as to whether or not it would be advisable to retain Ellen J. Fleming, a lawyer with the law firm of Weissman, Nowak, Currie & Wilco, P.C. to assist the Board of Directors in amending the Bylaws and/or Covenants so as to adopt the Property Owners Act and do such other things as may be necessary to cause the existing Declaration of Covenants, Conditions and Restrictions for Spalding Green Subdivision to be made perpetual in duration. The matter was discussed by the membership at some length and placed to a vote. Motion was made to pursue the matter but not a price to exceed the anticipated surplus within the checking account of $2,500.
Further motion was made to assess the membership $50 per household to restore the surplus. This motion was made and adopted unanimously by the membership present and by proxy. Following themeeting, however, it was determined that the Bylaws require a larger percent of the membership to bepresent to constitute a quorum to assess the membership, therefore, no action will be taken on thisresolution.
All business having been concluded, the meeting was adjourned.
[Approved by M.J. King, President]
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