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3/6/2012 9:25:18 PM
 
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Section 5: OPA Board Subject: OPA Loses IRS Case Msg# 823885
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Joe,
the government will come in and just TAKE the money. What the heck is your point? Maybe the Govt. will seize the YC, sell it to settle the debt. then the new owners could open it and run it like a business. Win Win..... our reserves are untouched, we still have a YC without our assessments funding it, thus saving thousands each year. Robert. |
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For reference, the above message is a reply to a message where: One other thing the board should keep in mind if they decide to use reserve funds; a super majority vote will be required. So what? Does anyone believe the board members will vote against paying the federal government AFTER losing a case in the U.S. Court of Appeals. Even if the board doesn't vote, the government will come in and just TAKE the money. What the heck is your point? As for the semantics about "special assessment," if the board tacks $120 on to the assessment, I'd say that is a special assessment, regardless of the semantics or by-laws. BTW, the DRS state, "... including (but not limited to) the power to levy against every member of the Association a uniform annual charge ..." I suggest "not limited to" covers a lot of territory when it comes to what the board can do. |
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