RECORD OF PROCEEDINGS
BOARD OF DIRECTORS’ ANNUAL MEETING
THE KNOLLS VILLAGE TOWNHOUSE ASSOCIATION

The annual meeting of the Knolls Village Townhouse Association was held on Tuesday, October 9, 2007 at the association clubhouse at 7:00 PM. Present were directors Loren Rohl, Barbara Arnold, Barbara Stokes, Cheryl Scher, Don Rothschild, Dick Campbell and Richard Olson. Joan Rowe was present to record the proceedings. Approximately 14 homeowners were also present at the meeting.

The purpose of the meeting was to elect two directors to replace Barbara Arnold and Loren Rohl and to present the 2008 budget to the homeowners.

Opening remarks were made by President Loren Rohl. Treasurer Barbara Arnold stated that the total amount of funds in the reserve account is $419,347.00. The 2008 budget was reviewed. Homeowners were reminded that the dues are scheduled to increase to $135.00 on January 1, 2008.

Issues discussed with the homeowners were: changing of landscape contractors; contracting for the snow removal for this season; having a separate contract for trimming; and the painting of the remaining 124 units in the spring of 2008.

There were two candidates for the open positions on the Board: Agnes (Doug) Hall and Loren Rohl. No nominations were made from the floor and a motion was made by Don Rothschild and seconded by Dick Campbell to close the nominations. Since there were two candidates and two positions, the slate of candidates was elected by acclamation.

Richard Olson commented that in his first year on the Board he has observed that the Board has been good stewards of the association’s monies.

There being no further business, the meeting was adjourned.