Assessment Restructure Meeting Minutes
Click here to view and print a PDF version of minutes.
Chimney Hill Owners Association, Inc.
Special Meeting of Membership
Saturday, April 5, 2008
MINUTES
A Special Meeting of the Chimney Hill Owners Association, Inc., membership was called to order by Lawrence Christian, President, at 4:00 PM, Saturday, April 5, 2008 at the Chimney Hill Clubhouse, Wilmington, Vermont . To vote on the following matters:
Resolution # 1: Should Section 10(B) of the Declaration of Protective Covenants, Restrictions and Reservations, dated July 25, 1967, as amended to date, be amended to restrict voting only to members in good standing in the Association?
Resolution # 2: Should Section 13 of the Declaration of Protective Covenants, Restrictions and Reservations, dated July 25, 1967, as amended to date, be amended to change the voting required to amend the Declaration from two-thirds of all lots to two-thirds of at least 51 percent of all lots?
Resolution #3: Should the first paragraph of Section 10 of the Declaration of Protective Covenants, Restrictions and Reservations, dated July 25, 1967, as amended to date, (with conforming amendments elsewhere as appropriate) be amended to re-set the base annual charge?
Resolution # 4: Should Section 10(G) of the Declaration of Protective Covenants, Restrictions and Reservations, dated July 25, 1967, as amended to date, be amended to change the rate at which the annual assessment may be increased?
Resolution # 5: Should Section 10(H) be added to the Declaration of Protective Covenants, Restrictions and Reservations, dated July 25, 1967, as amended to date, to allow for deferral of annual assessment increases for unimproved lots (excluding Deed Restricted Lots)?
President Christian asked if there were any votes to be cast from the Members and/or if those present who cast Proxy Ballots wished to change their votes? Hearing none President Christian asked for a resolution for the voting to be closed. Upon a motion duly made, seconded, and unanimously carried it was RESOLVED to close the voting on Resolutions # 1, # 2, # 3, # 4, # 5.
President Christian reported that 483 members were represented by Proxy Ballot representing 74 % of the members and as such represents a quorum to announce the results of the voting on each resolution. President Christian noted that according to the Declaration of Protective Covenants, Restrictions and Reservations, dated July 25, 1967, as amended to date Section 13, a 67% vote of the membership, in favor, of any resolution is required for passage. Voting membership consists of 645 property owners requiring 433 votes in favor for any resolution to pass.
President Christian announced the voting results of the Resolutions:
Resolution # 1: Should Section 10(B) of the Declaration of Protective Covenants, Restrictions and Reservations, dated July 25, 1967, as amended to date, be amended to restrict voting only to members in good standing in the Association?
Total votes cast 481, In Favor 463, Opposed 18, Resolution passes.
Resolution # 2: Should Section 13 of the Declaration of Protective Covenants, Restrictions and Reservations, dated July 25, 1967, as amended to date, be amended to change the voting required to amend the Declaration from two-thirds of all lots to two-thirds of at least 51 percent of all lots?
Total votes cast 483, In Favor 377, Opposed 106, Resolution does not pass.
Resolution #3: Should the first paragraph of Section 10 of the Declaration of Protective Covenants, Restrictions and Reservations, dated July 25, 1967, as amended to date, (with conforming amendments elsewhere as appropriate) be amended to re-set the base annual charge?
Total votes cast 478, In Favor 366, Opposed 112, Resolution does not pass.
Resolution # 4: Should Section 10(G) of the Declaration of Protective Covenants, Restrictions and Reservations, dated July 25, 1967, as amended to date, be amended to change the rate at which the annual assessment may be increased?
Total votes cast 480, In Favor 347, Opposed 133, Resolution does not pass.
Resolution # 5: Should Section 10(H) be added to the Declaration of Protective Covenants, Restrictions and Reservations, dated July 25, 1967, as amended to date, to allow for deferral of annual assessment increases for unimproved lots (excluding Deed Restricted Lots)?
Total votes cast 481, In Favor 277, Opposed 204, Resolution does not pass.
President Christian thanked those who were in attendance and those who returned their ballots.
President Christian asked if there were any questions from the floor concerning this matter, hearing none he asked for a motion to adjourn.
Upon a motion duly made, seconded, and unanimously carried the meeting was adjourned at 4:18 PM.
Respectively Submitted,
Kenneth B. Spicer
Secretary Pro-Tem
