THE PROPOSED CHANGES:
CENTENNIAL VALLEY NEIGHBORHOOD ASSOCIATION
PROPOSED CHANGES
BYLAWS VOTE:
1. AMEND BYLAWS: AMEND ARTICLE III, SECTION 4
The current Bylaws indicate a set dollar amount as the rate of annual dues. The Board of Directors proposes a vote to amend this provision to remove any specific monetary figure. Currently as written, the Bylaws are too specific and restrictive on this matter and require amending every time dues are increased or decreased. The proposed change is as follows:
CURRENT BYLAW PROVISION:
Section 4. Annual Dues Amount.
The annual dues, as determined in accordance with Article III, Section 1, shall be $550.00 for the first year for a homeowner and $250.00
each year thereafter. The annual dues for a vacant lot owner shall be $250.00. The annual dues shall be paid by the first of October for the upcoming year. The dues, which shall become payable upon the first of October following the transfer of a lot shall be due and payable at the closing of said lot. If the purchaser at closing is buying a vacant lot, said purchaser has the option of paying the $550.00 homeowner’s dues at closing, or paying the lot owner’s dues at closing and delaying the $550.00 payment until the October following their moving into the home.
PROPOSED BYLAW PROVISION:
Section 4. Annual Dues Amount.
Annual dues shall be determined in accordance with Article III, Section 1. The current rate of Annual Dues will be available on the CVNA website, on record at most local title companies, and by contacting the CVNA President, Vice President or Treasurer.
Summary:
The current language in the Bylaws is too specific and requires a recorded/filed Bylaw amendment for any change in dues or fees. This recommended amendment removes the specific money figure in the Bylaws, allowing a vote for a change without amending the bylaws. All changes in dues would still have to be approved by a membership vote, as required by the Bylaws.
2. AMEND BYLAWS: AMEND ARTICLE III, SECTION I
The Board of Directors proposes an amendment to the Bylaws to grant the Board authority to make a one-time increase in annual dues every five years, when deemed necessary, providing the increase no more than ten percent (10%). The proposed change is as follows:
CURRENT BYLAW PROVISION:
Section 1. Annual Dues.
The Board of Directors will recommend to the Association the annual dues of the Association. This recommendation must be approved by a majority of
the membership present or by proxy at the annual meeting. Majority being defined as fifty percent (50%) plus one. There are no discounts for prepayment.
PROPOSED BYLAW PROVISION:
Section 1. Annual Dues.
The Board of Directors will recommend to the Association the annual dues of the Association. This recommendation must be approved by a majority of
the membership present or by proxy at the annual meeting. Majority being defined as fifty percent (50%) plus one. Once every five-year period, the Board of Directors shall have the authority to vote to increase annual dues without the vote of the membership, providing said increase is no more than ten percent (10%). There are no discounts for prepayment.
Summary:
This amendment gives the Board of Directors authority to increase or decrease CVNA dues one time every five years without a membership vote, as long as the increase is not more than 10%.
GENERAL VOTE:
3. RAISE CVNA ANNUAL DUES.
Current CVNA dues are $250.00 annually. The Board of Directors requests an increase of $50.00 for a total annual dues of $300.00 (effective for upcoming dues).
Summary:
This vote is a general business vote (not a bylaws change) to raise dues to three-hundred dollars ($300) effective next due date. This is a fifty dollar ($50) increase.
