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3/23/2007 10:41:34 AM
 
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Section 5: OPA Board Subject: Second CC referendum Msg# 434167
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Regarding the $150 assessment increase, $105 or so it it is to rebuild the reserves so we can do maintenance. Interestingly, with that $105 per lot per year, OPA can borrow $10 million. |
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For reference, the above message is a reply to a message where: it should be included in a new vote and people should know if their assessments are going to rise again because the board might come up short 2 million. Russ, I think you are correct here. If we have to go to a loan, the assessment will go up to cover that loan OR the money will come out of the $150 assessment increase already announced. IF that money is really needed as already appoved by the BoD, then using it for the new CC is not proper. Do you think that maybe they knew all along that they would have to take from reserves? Bill |
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