MAGNOLIA SQUARE

CONDOMINIUM ASSOCIATION, INC.

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2006 ANNUAL MEETING

 

The Annual Meeting of November 14, 2006 was called to order at 7:25 p.m. by Ray Biggart.  A quorum of 75 members, either present or by proxy were represented (sign in sheet attached).

 

Proof of Notice of the meeting was delivered to all owners and posted on the property September 15th and October 16, 2006.

 

The minutes of the 2005 Annual Meeting were posted on the property and approved as posted.

Motion, made by Mary Pardy, seconded by Georgia Anne Murphy and carried to approve the 2005 minutes as posted.

 

Report of Officers:

 

Treasurer Ardis Rovelstad:  Ardis reported that we are financially secure and was sorry for the budget increase.  Thanked everyone who voted for her and trusting her to be on the board the past years.  Ardis stated that she would like to see more people involved in the affairs of the Association and encouraged members to consider serving on the board. 

 

Board Member Carolyn Sudar:  Carolyn thanks everyone for all the help and support that was given her especially in the 10 years she was on the board and the 7 years that she served as president.

 

President Ray Biggart:  Ray thanked Carolyn and Ardis for the amount of work they had done over the past several years.  The contributions they offered along with the financial and physical work was substantial. A round of applause for Carolyn and Ardis was received from the membership.

 

President Ray Biggart announced that only three (3) candidates stood for office, Ray Biggart, Barbara Peacock and Sarah Hengstebeck; therefore, no election was required.  Ray introduced the two (2) new Board members, Sarah Hengstebeck and Barb Peacock to the membership.

 

Vote on Financials:

 

Vote on changing review to compilation                   Yes      55        No       13

 

Vote to switch from statutory allocated

line item reserves to pooled reserves:                     Yes      69        No       2

 

The vote on changing the financial was approved by the membership.  Fifty-one percent (51%) of the membership (in person or by proxy) at a duly called meeting is required to approve these changes.  This was verified by the counsel for the Association.

 

 

 

 

 

 

 

Page 2

Annual Meeting Minutes

November 14, 2006

 

 

Comments by Unit Owners:

 

Unit #503 Gerald Murphy         Clarification from Ray on statement made concerning financial.

Unit # 2304 Carol Grandy        Requesting Boards opinion on installing patio for unit #2304.

Unit #403 Beverly Weese         Requesting removal of overhang in front of Unit #801.

Unit #2704 Peter Priston          Questions on heating pool shower and solar panels.

Unit #1002 Ellen Walsh            Question on electronic transfer of funds.

Unit #3003 Joan Roos              Concerned about overhangs.

Unit #3102 Murry Potts            Requesting grass under Magnolia tree by his unit.

Unit #3403 Shirley Keener       Question on lawn spraying-check with Ameri-Pride on schedule.

Unit #1103 Joyce Cassidy        Question on dealing with Armadillos

 

There being no further business a motion to adjourn was made by Joan Roos and seconded by Peter Priston.

 

The meeting was adjourned at 7:55 p.m.

 

Respectfully Submitted

 

 

 

 

Norm Moffitt

Secretary

 

 

Minutes not Approved.