HomeMy WebLinkAbout0118 ARTICLE IX.
Management, Operation and Maintenance
of the~ Condominium ~
Section 1. ~General. The~Board of Directors shall have
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all of the powera and duties and perform all of the obliqations
of the Condominium Association as provided in these By-Laws, in
the Certificate of InCOrporation of the Condominiwn Association,
in the Declaration of Condomin ium of Oceana Oceanfront Condominium One,
and as required by the laws of the State of Florida.
Section 2. Assessments. The Board.of Directors shall '
prepare an annual budget in advan~e of the commencement of each '
fiscal year of the Condominiuaa Association, which shall project .
the estimated Common Expenses of maintenance, operation and manage-
ment of the Condominium by the Condominium Association for t~e
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forthcaning year. Said annual budget shall also project the
share of said Coti~unon Expenses to be paid by the owners of each
Condominiwa Parcel in each condoaninium as provided in the Declara-
tion of Condominium appertaining thereto. Copies of the proposed
budget, including tot~l assessments and assessment shares of the
owners of each Condominium Parcel in each condominium shall be
delivered to each member of the Condaninium Association not later
than sixty (60) days prior to the commencement of the fiscal year -
for v+~ ich the budget has been prepared and not later than thirty
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; (30) day s prior to the Board of Directors' meeting at which the -
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~ proposed budget may be adopted. In the event the Board of Directors
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shall fail to prepare and/or adopt an annual budget and deliver
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~ copies of same to the members of the Condominium Association in
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s time for the forthcoming year, then the budget for the preceding
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~ year shall remain in effect a~d assessments shall be payable by the
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members in accordance therewith until the new budget becomes
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effective. ~
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Section 3. Assessment Records. Complete assessment
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~ records shall be maintained for the account of each Condominium
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