MAGNOLIA SQUARE

CONDOMINIUM ASSOCIATION, Inc.

2005 ANNUAL MEETING

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The Annual Meeting of November 15, 2005 was called to order at 7:10 p.m. by Carolyn Sudar.  A quorum of 99 members, either present or by proxy, were represented.

 

The Inspectors for Elections and Proxies were Jim Cornell, Sarah Hengstebeck, Remi Ferreira,  and Carol Massie

 

A quorum of the members was verified.

 

A Proof of Notice of the meeting was delivered to all owners and posted on the property September 14th and October 11, 2005.

 

The minutes of the 2004 Annual Meeting were posted on the property several days before the meeting. 

Motion to approve minutes as posted: Peter Priston Second: George Dale  Unanimous approval

 

The Report of Officers:

 

President Carolyn Sudar: Carolyn reported on installation of the sidewalks by the pool, hurricane shields for the recreation room and painting of the recreation room.

 

Vice President Ray Biggart: Ray reported that the repair of the wall will be delayed until we receive the report from the structural engineer, who will make sure there isn’t any hidden damage     

 

Treasurer Ardis Rovelstad: Ardis reported that as of October 31, 2005, Magnolia Square is in solid financial shape. The reserves total $163,982.83, assessment fees are being paid in a timely manner and the association continues to pay it’s bills in a timely manner.  

 

New Business

 

Vote on changing review to compilation             Yes    76          Against    21

Vote on surplus funds to go to reserves:            Yes    90          Against      1

 

Board of Directors vote:

Frank Coreil                 71                   

Steve Leonard              53

Norm Moffitt                63

 

The 2005/2006 Board members are:    

Ray Biggart, Carolyn Sudar, Ardis Rovelstad, Frank Coreil and Norm Moffitt.

 

The Organization Meeting will be held immediately following the Annual Meeting.

 

Page 2

Magnolia Square Condominium

Minutes – Annual Meeting

 

President Sudar thanked everyone for their help and opened the floor for comments.

                                                                                                                       

Robert Connelly - wanted to know who the manager of Magnolia Square represented and how the board votes on issues, when some board members are absent.   

Norm Moffitt – questioned when the cover will be placed on the pool

Gerald Docherty – wanted an explanation on increase of assessment fees.

Gail Fabian – questioned the name of our insurance company.

Beverly Weese – wanted to know if any decision had been made on banning car washing.

George Peacock – wanted to know why it was necessary to ban car washing.

Brian Wallace – wanted an update on paving and painting.  Also update on having the chain put on the balconies.  

Carol Massie – wants branches of the trees cut back to end of building.

David Gowan – commented on parking spaces.

Jean Hilton – would like to see stamps sold in the office.

 

Motion to adjourn:  Richard Cassidy  Second: Mary Pardy     Unanimous approval

Adjournment:  7:35 p.m.

 

Respectfully Submitted

 

 

 

Steve Leonard

Secretary

 

Minutes Not Approved.