HomeMy WebLinkAbout2255 supplenented by the following provisions: ~
a. The assessment roll shall be maintained in a set of
accounting books in which there shall be an account for
each PRIVATE DWCLLING. Such an account shall-designate
the name and address of the owner or owners, the amount
of each assessment against the owners, the dates and
amounts in which assessments come due, the amounts paid
upon the account and the balance due upon assessments.
• b. The Board of Directors shall adopt a budget for each -
calendar year which shall contain estimates of the costs
of performing thc functions of the ASSOCIATION, including
~ " but not limited to the following:
~1) Common ~xpense budget, which shall include, with-
out limiting the generality of the foregoing, the
estimated amounts necessary for maintenance and
operation of CObtMON PROPERTY, including landscap-
- ing, street and wa2kways, office expense, manage-
ment, utility services, casualty insurance, lia- ~
bi_lity insurance, administration, reserves (oper-
ating and replacement) and costs of maintaining
leaseholds, membership and other possessory or use
interests in lands or facilities to provide enjoy- ~
ment, recreation, or other use or benefit to
owners of PRIVATE DWELLINGS; and j
. ~
(Z} propa~ed assessment against each member. 3
Copies of the proposed budbet and proposed assessments ;
shall be transmitted to each member on or before January ~
1 of the year for which the budget is m~de. If the budget ~
is subsequently amended beFore the assessments are made,
a copy of the amended budget sha11 be furnished each member
concerned. Nondelivery of a copy of any budget or amended - -
budget to each member shall not affect the 2iabiZity of .
any member for any such assessment, nor shall delivery of ?
a copy of such budget or amended budget be considered as ~
a condition precedcnt to the effectiveness.of said budget
and assessments levied pursuant tMereto, and nothing here- `
in contained shall be construed as restricting the right
'of the Board of Directors to at any time in their sole
discretion levy any additional_assessment in the event
that the budget originally adopted shall appear to be in-
sufficient to pay costs and expenses of operation and
management, or in the event.of emergencies.
c.~ The depository of the ASSOCIATION shall be such bank or
banks as shall be designated from time to time by the
Directors and in which the monies of the ASSOCIATION shall
be deposited. Withdrawal of monies from such accounts
shall be only by checks signed by su~h persons as are :
authoriZed by the Directors.
d. An audit of the accounts o£ the ASSOCIATION shall be made
annually by a Certified Public Accountant, and a copy of
t-he report shall be furnished to each member not later :
than April 1, of the year following the year for which the }
report is made. ~
e. Fidelity bonds shall be required by the Board of Directors 5
from all officers and employees of the ASSOCIATION and
from any contractor handling or responsible for ASSOCIATION
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1s10.31.2
4525 ~
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SPIELVOGEL, C30LDMAN AND CARU5~, P. A. - ATTOi~NEYS AT LAW - MERKITT 1SLAND, FLORIDA