St. Martin's by the Bay

Minutes

St Martin ’s By The Bay Special Board Meeting – June 17, 2007 A brief meeting, called to order by Ollie, was held this morning to address the financial status of the community. This includes litigation and water system. John Rinkus authorized Ollie to vote for him in his absents. Mike has thought for some time that a bank loan would behoove us to get through this period of legal cost and to make necessary up-grades to the water system. Plus, there will be other cost to get the acquired parcels of common area ground on public record. So, Mike made a motion, this morning, that we pursue a mortgage on some of the parcels of common area that we have a deed for and this was 2nd by Ollie. Ollie suggested too, that we might get a short term loan. Another option would be to have an immediate special assessment. Below are items that funds are needed for now or in the very near future: King Burnett, Attorney: $35,000. Partial Up-grade to water system 10,000. Survey to get land parcels recorded 5,000. Misc 5,000. Total $55,000. At the July Board meeting we would like to have a Round Table discussion with all home owners to discuss the water system and a positive way to resolve the on-going problem with parts and repairs. A letter will be mailed urging you to attend the next meeting We will discuss the possibility of a special assessment that, hopefully, can be held under $1,000. per household. Meeting was adjourned. Submitted by Joyce L Timmons

Official document

These are the original pages. The PDF file is the same document.

Download the official PDF