HomeMy WebLinkAbout0198 than two-thirds (2/3) of the voting members. The
Board of Directors may in any event propose a
budget to the unit owners at a mer~ibers' meeting or
in writing, and if such proposed budget is approved
by the unit owners at a members' meeting or by a
majority of voting members in writing, such budget
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 sub5action.
(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.
S. Insurance.
6. Security provisons.
7. Utilities.
8. Other expenses.
9. Operating capital.
10. Reserves.
11. Fees payable to Division of. Florida Land
Sales and Condominiums.
j 12. Assessments payable to Tarpon Bay Yacht Club
Property Owners Association, Inc.
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i (d) Regular assessments shall be made against unit
owners not less frequently than yuarterly, in an
amount no less than required to provide funds in
advance for payment of all the anticipated current
operating expenses and for al.l of the unpaid
operating expenses previously incurred.
(e) Ttre provisions of Florida Statute 718.112, with
regard to limitations on budget 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 tt~e annual budget over the preceding
years, authorized provisions for reasonaole
rP;~rves for repair or renlacPment of the
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c~~::~oc~iniui~ property, anticipatedl expenses ~y c.:re
Assxiation which are not anti~~ii~ater3 to be
incurreu on a reyul•ar or annual basis, and
3" a,se:;s;aents Ec~r b:?tterments to the con~iot^inlum
proE~erty shall be excl~~c:ed from the corrGUCation.
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