RECORD OF PROCEEDINGS
BOARD OF DIRECTORS' REGULAR MEETING
THE KNOLLS VILLAGE TOWNHOUSE ASSOCIATION

A regular meeting of the Knolls Village Townhouse Association was held on Tuesday, February 7, 2006 at the association clubhouse at 6:30 PM.  Present were directors Barbara Arnold, Don Rothschild, Cheryl Scher, Loren Rohl, Kathleen Sutton and Dick Campbell; Committee Chairs Fred Langford, Ilena Lea, and Harold Arnold; Finance Committee members Bob Evans, Ken Holloman, Bill Fralick and Martin Jepkes; and Manager Warren Deutsch.  Joan Rowe was present to record the proceedings.  Also present at the meeting was Gene West from Dain Rauscher.

Gene West discussed the investments of the association's reserve funds.  The association has an investment policy and also needs to consider the safety of investments, the liquidity of investments and the highest yield possible.

A motion was made by Don Rothschild and seconded by Barbara Arnold to approve the minutes of the January 3, 2006 meeting as written.  The motion was passed.

Fred Langford, Web-site Manager, stated that the documents page of the web-site has been modified.  The balance sheet of the Association has been added.

Ilena Lea, Clubhouse Committee, reported that the clubhouse was reserved 7 times in January.

Harold Arnold, reporting for the Architectural Control Committee, stated that the garage repairs needed at 2565 East Fremont Court have been made and a bid has been received for the front porch repair.

Harold Arnold, Newsletter Editor, stated that the next issue will be distributed this weekend.  An insert from the Arapahoe Sheriffs Department regarding Project Lifesaver will be included in an upcoming issue.

Barbara Arnold, Treasurer, reported that the reserve fund total is $398,899.00.  By an electronic vote, it was approved to move the painting escrow funds from a savings account at Wells Fargo to the money market fund at Dain Rauscher.

Warren Deutsch, Maintenance Manager, stated that the City of Centennial will start on the storm drain project in the next couple of weeks.  Bids have been received for the asphalt projects and Warren is waiting on two more bids for concrete work.  Warren also presented a plan for re-landscaping the south entrance for a total of $1570.00 for labor and plantings.  The Board is planning a walk through on Saturday, February 11, 2006 at 10:00 am followed by a special meeting to review the bids for concrete, asphalt, tree removal and landscaping plans for the south entrance.

The Board will meet with Jean Oatman at the next meeting to discuss the 2006 pool operations.

There being no further business, the meeting was adjourned.