Exhibit 017 REV 12/21/01
POWERS & DUTIES OF THE BOARD
This exhibit is to provide information on the duties of the board and officers. This information is a summary of the Bylaws (Articles 5, 6, and 7). For more information please read the Bylaws. This is not a governing document and in no way supercedes the Bylaws or any other governing document. Any wording in brackets is not contained in the bylaws.
The powers and duties of the board directors are as follows:
1. The business and affairs of the Association are managed by the Board of Directors.
2. The Board has the powers and authority to the following:
a. To adopt and publish rules and regulations for the use of Common Areas and the behavior of homeowners and establish penalties.
b. To suspend the voting rights and right to the use of the Common Areas when a homeowner is in violation of rules or is delinquent on their account.
c. To establish and collect assessments.
d. To record and foreclose the lien against any property for which assessments are not paid.
e. To hire a property management company.
f. To obtain any necessary utility service (electric & water).
g. To obtain insurance policies.
h. To pay for the costs of maintenance, repair, and landscaping for the Common Areas.
i. To maintain and restore a
j. To enforce the CC&Rs.
k. To enter into contracts for materials and/or services.
l. To prepare an operating income/expense statement and to oversee an audit.
m. To pay for any materials for the operation of the Association.
n. To buy property unless it is valued in excess of Five Thousand Dollars ($5,000).
o. To enter any
p. To borrow funds on behalf of the Association for the Common Areas.
q. To adopt additional bylaws and rules and regulations.
r. To keep a complete record of all its acts and corporate affairs.
s. To supervise all officers, agents and employees of the Association and see to the proper performance of their duties.
t. To bond all officers.
u. To maintain the Common Area.
The duties of the officers are as follows:
1. The president generally supervises and controls the business and affairs of the Association, presides at all meetings of the members and at all meetings of the Board of Directors, and signs contracts. [The president also, finalizes the meeting agendas.]
2. The vice president performs the duties of the president when absent.
3. The secretary records the minutes of the Board meetings.
4. The treasurer is responsible for keeping correct and complete books and records of accounts for all funds and securities of the Association. [The treasurer ensures that the financial statements are prepared, oversees the annual audit, and prepares the annual budget.]
Port Gardner Management
P.O. Box 1007, Everett, WA 98206
Tel No: 425-339-1160
Fax No: 425-303-0257