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5/17/2020 2:53:28 PM

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Section 5: OPA Board
Subject: Parks and Board Out of Control Msg# 1083530

From:

Tom Hemmick

Joined 7/21/2005

To:

Slobodan Trendic (Read) Past OPA Board Member 2016-2019

Joined 1/20/2013

Slobodan

Thanks for that reference. And I've noted that paragraph (e) acknowledges that OP's 8.02 Sources of Financial Support would include: (e) Federal . . . funds available to the Association.

Seems another factor supporting the PPP loan issue. Throw that one into the mix, into the debate here.

Tom

For reference, the above message is a reply to a message where:
I'm wondering that, if a grant is approved, will the Board vote to accept the $.

Tom,

You were on the board so the answer to your question, or a point you attempted to make, is in our By-Laws, specifically this ARTICLE VIII, FINANCE. You will observe board's action is only needed for para (a) and (c), the board's decision is NOT needed for (d) nor (e). Included for your convenience below is the relevant by-laws text.

Slobodan

ARTICLE VIII

Section 8.02. Sources of Financial Support.

The Association shall be financed by:

(a) The annual charge established by the Board of Directors under Section 5.14(a) and
such other charges or fees authorized by the Charter and the By-laws;
(b) Funds derived from the operation of amenities, including memberships;
(c) Gifts and bequests to the Association, restricted or unrestricted, accepted by the
Board of Directors;
(d) Public or private grants to the Association, restricted or unrestricted; and
(e) Federal, State, or Worcester County funds available to the Association.

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