Date: May 19, 2001 Time: 11:10 A.M.

Location: The Pavilion, Beach and Boat Dock Area,
Lakeshore Woods Subdivision
 
 

1.  The President, Joe Wooldridge, formally opened the meeting about 11:10 A.M.; his opening remarks included welcoming the Members in attendance to the twelfth Annual Meeting.

2.  For a quorum, 10% or more of the lots needed to be represented. Representatives were at the meeting from Lots 1, 2, 8, 9, 17, 26, 27, 34, 36, 41,43, 46, 47, and 53, which accounted for 27% of the lots. Therefore, a quorum was present.

3.  For proof of notice of the meeting, the Secretary reported to the President that he had sent notices in a timely manner to all Association Members at their address of record, following the By-Laws. Neither Members in attendance nor Members not in attendance claimed any lack of proper notice. Therefore, it was determined proper notice was given.

4.  The President presented the Minutes for the previous Annual Meeting of the Association, May 20, 2000. These Minutes were available to Members at the current meeting. Reading of the Minutes was waived; they were unanimously accepted by the Members as written, without corrections or additions.

5.  James Hogan, the Treasurer, presented the financial report. The financial report was also given as a handout to the Members. The report, being thorough as usual, was accepted as given.  It was also noted that Marie Riley (lot 44) had filed for bankruptcy but our lien had been filed 5 days prior to her bankruptcy filing.  Also, our insurance policy will be renewed in July.

6.  The President stated that three Members had applied for three positions on the Board of Directors. Since no other candidates had come forward, it was agreed to dispense with vote counting. Jim Hogan, Jennifer Walsh, and Jay Youngquist were elected to new 3-year terms.

7.  The dock resurfacing activity was reviewed with the attendees. The task is nearly complete, and two of three draws have been paid. The work is nearly complete with only the final set of bolts and screws to be added. The final payment, ~$4400, will be made after all work is complete. This will not fully deplete our allocation for dock and common area maintenance. There was some discussion of what (and whether) to make any additional payment for extra bracing with  2x4s that were added without explicit authorization. It was agreed that this work was appropriate, and the issue should be addressed at the board meeting to follow the annual meeting.  Also, sand has been delivered to the common area at a cost of $475.

8.  The owner of Lot 44 has declared bankruptcy. Since we have filed a lien on the property, we are a secured creditor. We are in contact with the bankruptcy court, and we fully expect to receive back dues, fees, and penalties.

9.  The President, Joe Wooldridge, summarized the main issues addressed by the Board during the past year.

--- Resurfacing of the docks.

--- Sand for beach area.

--- Officers' compensation has been reduced as agreed to at last year's meeting.

--- The Porta Potty is back on a month-to-month basis.

--- Maintenance of Park Run and common area.

--- Piling replacement is still being worked, as is the dry hydrant. There has been no progress on either front.

10.  The President opened the meeting to any comments or new business.  There was a brief discussion of adding lights to the common area, but there are concerns about cost of installation and insurance. The subject was tabled for later discussion.

11.  The President asked if there were any additional business, questions, or comments. There were none. Upon motion, properly made, seconded, and passed unanimously, the tenth Annual Meeting was adjourned at 12:00 P.M.