Special
Meeting Notice
Mt. Kemble
Thursday August 16th 7:30 - Mt Kemble
A special
meeting of the Mt Kemble Lake Association is being called to present and vote
on three funding proposals involving the proposed upgrade and improvement of
Background: The results of the recently completed Long
Range Planning Survey highlighted the priority for many residents of
significantly and aggressively upgrading our roads. The Mt. Kemble Lake
Association has prepared recommendations for the repair and/or replacement to
many sections of our roads. These were discussed in detail at a Community
Inform meeting on June 16th where residents were able to see and
discuss the plans that have been developed as well as to learn about the
funding recommendation that would support those plans. Based on positive
feedback at that meeting the Association is prepared to move forward by
requesting the approval of Association members to put in place the funding that
will allow the upgrades to start this year.
A map of all projects
along with a summary of the funding recommendations is attached.
Proposals: The following proposals will be presented and voted on at the Special
Meeting. A 2/3rd vote of those present or represented by proxy is
required for approval.
Proposal 1 Authorization for a $400 increase in the dues paid
to the Association, effective with the next dues statement.
Interpretation If approved, the Association will
bill all Association members for an additional $200 with the next bill
statement in October, 2007. Thereafter, $200 would be added to the regular
semi-annual dues statement for a total of $400 additional per year. A Yes
vote authorizes the increase in dues.
Proposition 2 Authorization to reallocate up to $30,000 of excess
reserves from the dam debt to road improvement projects.
Interpretation If approved, the Association could
reallocate up to $30,000 of the excess loan amount intended for but not needed
to complete the dam improvement project to fund road improvements. A Yes vote
authorizes the reallocation.
Proposition 3 Authorization to borrow against the credit of the
Association, up to $200,000 to be used solely for the upgrade and improvement
of
Interpretation If approved the Association would be
authorized to enter into the commercial loan market to obtain loans of up to
$200,000 as needed to pay for completed road work. A Yes vote authorizes
borrowing.
Voting: Attached is a ballot for use by up to two people if
you are going to be unable to attend the meeting. These should be returned to
the Secretary before the start of the meeting. Please contact me if you need an
additional ballot form.
Nancy
A. Priscu
Secretary
Trails
End
July 15, 2007