message board home
Next
3/6/2012 8:35:34 AM
 
Reply
or ReplyNewSubject
Section 5: OPA Board Subject: OPA Loses IRS Case Msg# 823748
|
||||||
|
I don't think there is any need for a special assessment.
Ted, let's put this one thing to bed; need doesn't matter since neither the Bylaws nor the Articles of Incorporation will allow the board to call for a "special" assessment. Both documents only allow for "an annual" assessment. They could increase the regular yearly assessment, but could not have an extra one. One other thing the board should keep in mind if they decide to use reserve funds; a super majority vote will be required. Bill Z |
||||||
|
|
||||||
|
For reference, the above message is a reply to a message where: Linda, This issue may have been floating around since 2001 and certainly from 2005. Reading the ruling the money OPA receives from Seacrets is not taxable but the money received from our own owners is taxable. Doesn't make sense. I think we were right to appeal the ruling but I always knew there was a good chance we would not prevail. I favor using the reserves to pay off whatever the final number is and I don't think there is any need for a special assessment. Again my greatest concern is implementing a policy to prevent a continuation of this problem. Ted |
| Calendar |
OPA Board Meeting - Golf Clubhouse
1/25/2025 - 9: A.M. |
|
OPA Board Meeting - Golf Clubhouse
2/22/2025 - 9:00 A.M. |
|
OPA Board Meeting - Golf Clubhouse
3/29/2025 - 9:00 A.M. |
|
OPA Board Meeting - Golf Clubhouse
4/26/2025 - 9:00 A.M. |
|
OPA Board Meeting - Golf Clubhouse
5/24/2025 - 9:00 A.M. |