THE MINUTES OF THE ANNUAL MEETING

OF THE

HASLEY HILLS HOMEOWNERS ASSOCIATION

June 10, 2004

 

SIGN-IN

Ellen Ford and Teressa Whitsett of LB Property Management conducted the sign-in for the Annual Meeting, commencing at 6:45 p.m.

CALL TO ORDER

The following are the Minutes of the Annual Meeting of the Hasley Hills Homeowners Association held on June 10, 2004 in Santa Clarita, California. A Quorum was noted and the meeting was called to order at 7:10 p.m.

BOARD MEMBERS PRESENT

Donna Covert, Brian Roney, Bob Throckmorton, Kathy Waggoner, and Dave Harris.

LB PROPERTY MANAGEMENT REPRESENTATIVES

Ellen Ford and Teressa Whitsett of LB Property Management were also present.

QUORUM

Ellen Ford reported that a quorum of 25% of the homeowners had been achieved with 328 ballots received either by proxy or in person.

NOMINATIONS

Ellen Ford announced that there are five (5) nominees seeking to fill three (3) open board positions.  John Tonagian moved, and Timothy Kim seconded to call for further nominations from the floor.  There being no further nominations, Anita Brown moved, and Neil Gerab seconded to close the nominations.

The following nominees introduced themselves and gave a short profile of their qualifications:

Dave Harris

Roger Ludwig

*Larry Totter

Kim White

Bob Throckmorton

*Kathy Waggoner read Larry Totter’s profile on his behalf in his absence.

A short question and answer session between the nominees and homeowners present followed.

EXPLANATION OF VOTING PROCEDURES – CUMULATIVE DIRECTOR VOTING

Ellen Ford advised that one owner of record per lot may vote in the election and each owner is entitled to one vote for each vacancy to be filled.  By process of cumulative voting, the owner of record may cast three (3) votes for one candidate, or spread their votes amongst all the candidates or any combination thereof.

Ellen Ford explained that the voting would be handled by secret ballot.  Volunteer homeowners would count ballots. 

Ellen Ford explained that the three (3) nominees running for board positions receiving the highest number of votes would become board members; each for a two (2) year term.  In the event of a tie, a runoff will be held.

EXPLANATION OF IRS REVENUE RULING 70-604

Ellen Ford advised that IRS Revenue Ruling 70-604 must be approved annually by the membership.  Approval of this revenue ruling allows the Association to take advantage of lower federal tax rates if certain conditions are met.  The revenue ruling addresses circumstances whereby the Association generated excess membership income and elects to apply the excess income to replacement funds or to the following year’s budget.  Approving the IRS ruling allows the Association’s CPA to make a determination as to which filing method provides the greatest benefit to the Association.

APPOINT INSPECTORS OF ELECTION

Ray Koskanke moved, and Anita Brown seconded to appoint volunteers Neil Williams, John Tonagian, and Neil Gerab as inspectors of the election.

ELECTION

John Tonagian collected votes and the counting of the ballots proceeded.

John Tonagian announced the election results as follows:

Larry Trotter

Bob Throckmorton

Roger Ludwig

John Tonagian announced that the membership approved IRS Ruling 70-604.

APPROVAL OF MINUTES

Donna Covert moved to waive the reading of the Minutes of the Annual Meeting held in 2003 and approve them as submitted. Dave Harris seconded the motion, which carried.

HOMEOWNER DISCUSSION

Brian Roney advised that the board has hired legal council to review modifying the CC&Rs related to moving the common area wrought iron maintenance responsibility from the Homeowners’ Association to the individual homeowners. Brian Roney noted that this modification would result in an approximate $19 reduction in homeowner dues, as well as the release of approximately $350,000 in common area wrought iron maintenance obligations set aside in the Reserve Fund.

Kathy Waggoner reported that the Hasley Hills Community garage sale is scheduled for Saturday, July 17, 2004 from 7:30 a.m. to 1:00 p.m.

Homeowners raised concerns about the reduction of slope landscaping, bike paths, community park, violation of CC&Rs and Rule and Regulations, and traffic enforcement. 

ADJOURNMENT

The meeting adjourned at 8:45 p.m.

NEXT MEETING

To be determined