Date: May 31, 2003 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 at the fourteenth Annual Meeting.

2.  For a quorum, 10% or more of the lots needed to be represented.  More than 25% of the lots were represented, and 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 25, 2002.  These Minutes were available to Members at the current meeting. Reading of the Minutes was waived, and 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 Treasurer’s report showed a balance of $38,806.75.   Dues have been paid on all but Lot 44, which is in bankruptcy.   The report was accepted as given.   Members were reminded that lot 44 is in bankruptcy. 

6.  The President stated that he had decided to step down and would no longer sit on the board.   The members expressed their appreciation for years of service, and the board acknowledged its responsibility to select a new President.

7.      Old Business:
-         Common area improvements were described.
-         The Porta Potty is back in place.
-         Rework on the boat ramp, suggested during the drought, was tabled, since the normal water level eliminates the problem.

8.      The President opened the meeting to any comments or new business.

9.  The President asked if there were any additional business, questions, or comments.  There were none.  Upon motion, properly made, seconded, and passed unanimously, the fourteenth Annual Meeting was adjourned at 12:15 P.M.