Monday, November 14, 2005
Return of the Jenn-i part III
A Passage from the RESPONSE TO DEFENDANT'S MOTION TO DISMISS
It appears that in response to the HOMEOWNERS Complaint, the ASSOCIATION has decided to hold the vote required by the governing documents in order for the Board of Directors to obtain a loan. Although the ASSOCIATION may argue that it intended all along to obtain the required Member approval, this was not apparent from the minutes of the Board of Directors meeting on August 22, 2005. The minutes merely state that the Board of Directors authorized the ASSOCIATION'S management agency to secure a loan for the ASSOCIATION in the amount of $800,000.00, for use prior to collection of the special assessment-there was no mention of holding any Member vote.
It appears that in response to the HOMEOWNERS Complaint, the ASSOCIATION has decided to hold the vote required by the governing documents in order for the Board of Directors to obtain a loan. Although the ASSOCIATION may argue that it intended all along to obtain the required Member approval, this was not apparent from the minutes of the Board of Directors meeting on August 22, 2005. The minutes merely state that the Board of Directors authorized the ASSOCIATION'S management agency to secure a loan for the ASSOCIATION in the amount of $800,000.00, for use prior to collection of the special assessment-there was no mention of holding any Member vote.
