BOARD MEETING MINUTES
OCTOBER 19, 2006
The meeting was called to order at approximately timeMinute30Hour1111:30am. Board members present were: Mr. Pontek, Mr. Deken, Mr. Sloan, and Ms. Weaver. Also present was the General Manager, Mr. Flynn.
Following perfection of the agenda, these items were discussed/acted upon:
1. The minutes for the meeting of dateYear2006Day11Month1010/11/06 were presented for approval. Motion for approval was made by Mr. Deken, seconded by Mr. Sloan. The vote was unanimous.
2. Motion was made by Ms. Weaver and seconded by Mr. Sloan to approve a motion regarding the lock box. The vote was unanimous in favor of this motion. The motion as approved states:
Be it resolved to use the lock box relationship between AAM and 1st National Bank of Arizona for the upcoming billing cycle for homeowners assessments with assurances from AAM regarding interest amounts and timing of account sweeps and with exploration of both the legal and technical considerations involved before changing from this relationship to the lock box at Wells Fargo Bank.
3. Motion made by Mr. Deken and seconded by Mr. Sloan to appoint an ad hoc committee to review the AAM performance. The vote was unanimous in favor of the motion. The motion as approved states:
Be it resolved that an ad hoc committee be formed, to be chaired by Frank VanOverstraeten with Herb Lienenbrugger and Larry Wolfe to serve as members, for the purpose of reviewing the AAM contract and AAM's performance thereunder and to report to the Board on a regular basis.
4. Discussion was held regarding the appropriate format for the upcoming evening meeting scheduled for November 8th. Both the time for the meeting and whether it should be a board meeting or a town hall were discussed. There was no decision reached on the matter.
5. The meeting was adjourned at timeMinute30Hour1212:30pm.
Submitted by:
Judith A. Weaver, V.P./Sec'y