HomeMy WebLinkAbout1017 than two-thirds ( 2f 3 ) of the voting members. The
t3oard of Directors may in any event propose a
budget to the unit owners at a meiabers' meetiny or
in writing, and if such proposed budyet is approved _
by tt~e unit owners at a members' meetiny or by a
majority of voting inemoers in writing, such budyet
shall not thereafter be reexamined by the unit
owners in the manner set forth above, nor shall the
Board of Directors be recalled under the terms of
this subsection.
(c) Each proposed annual budget of common expenses
adopted by the Board of Directors shall be detailed
and shall show the amounts budgeted by accounts and
expenses classifications, including, but not
limited to, the following:
1. Administration of 'the Association.
2. Management fees..
3. Maintenance.
4. Taxes upon Association property, if any.
5. Insurance.
6-. Security provisoes.
7. Utilities.
8. Other expenses.
9. Operating capital.
10. Reserves.
11. Fees payable to Division of Florida Land
Sales and Condominiums.
12. Assessments payable to Tarpon Bay Yacht Club
Property Owners Association, Inc:
(d) Regular assessments shall be made against unit
owners not less freyueritly than Suarterly, in an
' amount no less than required to provide funds in
advance for payment of all the anticipated curretlt
operating expenses and for all of the unpaid
operating expenses previously incurred.
(e) Tl~e provisions of Florida Statute 718.112, with
~ regard to limitations on budyet increases, special
membership meetings for budget reconsideration, and
the right to consider and adopt a budget at the
annual membership meeting as an alternative, are
herby adopted. In determination of the percent of
increase of the annual budyet over the preceding
years, authorized provisions for reasonable
rn nY~/PG f(lr rPT)a 1 r or replacement of the
c~:.,:o;ainiu~a ~~roperty, anticirateci Axi~enses oy t e
t,s:,oci3ticn which arm rlOt :iiltlCl~?dtZc] t0 be
incurrea on a regular or annual oasis, and
as.~e~~s:nt~sits for betterments tt~ the condo,niniuin
~ property shall oe excluc:Pd from the coaputation.
E -13 i' c~ix 32~ Pa~E1016
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