Guest buckpasser Posted July 6, 2010 at 02:54 AM Report Share Posted July 6, 2010 at 02:54 AM This is part of the previous saga about a chairman and board that has operating rules of order. At this pt. the chair will rule as he sees fit and use RONR as a guide and suggest that the board adopt it. Nothing more.Okay. So this board is in the process of adopting a special budgetary measure in order to create a fund that is to be used to pay for emergency repairs to a structure. Right now, they really dont know the final cost but they have an estimate. They have not signed for any loan, they are passing the measure to raise the monthly fee by $100 in order to create a fund that in all probability would be used as collateral to secure a loan for several hundred thousand. I say in all probability because at present the board is just going to pass the budget measure; send out a letter, collect the funds, put in escrow and continue to solicit the contractor; look at financing options, continue to monitor the final costs...The chair is adamant the money needs to go into an escrow fund and I dont blame him because of past problems. So now how does the chair word a motion such as;"Said monies raised from said assessment are to be put into an escrow fund that cannot be withdraw unless a motion is passed by majority of the board and a notarized copy of such motion is presented to the bank..."That is about where I am on this. How does one word such a document so that no one person can withdraw the funds? Link to comment Share on other sites More sharing options...
Shmuel Gerber Posted July 6, 2010 at 03:59 AM Report Share Posted July 6, 2010 at 03:59 AM "Said monies raised from said assessment are to be put into an escrow fund that cannot be withdraw unless a motion is passed by majority of the board and a notarized copy of such motion is presented to the bank..."That is about where I am on this. How does one word such a document so that no one person can withdraw the funds?This does not seem to be a question related to RONR, except in the following respects:(1) It may not be possible to raise the "monthly fee" without amending the bylaws; see RONR (10th ed.), p. 555, l. 2-4.(2) "passed by a majority of the board" is not a recommended wording for voting requirements; see pp. 387-391.(3) For guidance in the proper framing of main motions, see pp. 99-100. Link to comment Share on other sites More sharing options...
Guest buckpasser Posted July 6, 2010 at 05:15 AM Report Share Posted July 6, 2010 at 05:15 AM This does not seem to be a question related to RONR, except in the following respects:(1) It may not be possible to raise the "monthly fee" without amending the bylaws; see RONR (10th ed.), p. 555, l. 2-4.(2) "passed by a majority of the board" is not a recommended wording for voting requirements; see pp. 387-391.(3) For guidance in the proper framing of main motions, see pp. 99-100.Well I appreciate that it is not directly related to RONR; I was wondering if some people had experience in drafting that sort of thign. The bylaws of the association cover the particular situation and after some study we feel that it meets the bylaws. Link to comment Share on other sites More sharing options...
Shmuel Gerber Posted July 6, 2010 at 05:46 AM Report Share Posted July 6, 2010 at 05:46 AM Well I appreciate that it is not directly related to RONR; I was wondering if some people had experience in drafting that sort of thign. The bylaws of the association cover the particular situation and after some study we feel that it meets the bylaws.I'm sure some people do, but this is not the appropriate website on which to share it. Link to comment Share on other sites More sharing options...
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