Board members present: Jan
Cooley, President; Jeff Anthony, Vice-President; Jimmy Smith, Treasurer; Brian
Hiel, and Rodney Phillips. Dale Slaton was present and acted as
Secretary.
Meeting
was called to order by Jan Cooley.
Minutes
from the previous meeting were approved without objection.
OLD
BUSINESS
1. Jimmy Smith gave a
report on the status of overdue HOA dues, and status of collection efforts.2. There was consideration of a proposed policy for handling the collection of HOA dues and fees in the future. Jimmy Smith made a motion to adopt the proposed policy; Jeff Anthony seconded the motion. The policy was adopted without objection. The adopted Collection Practices Policy is attached to these minutes.
3. There was discussion about the repair and sealing of the stone walls at the entry of the neighborhood.
4. Roadway Specialties has begun the planned road repairs in the neighborhood. The work should be completed within two weeks, weather permitting.
5. There were positive reports about the neighborhood garage sale.
6. There was discussion about the dirt washing out at the fence line just north of the entrance to the neighborhood, and ways to mitigate the erosion.
NEW
BUSINESS
1.
There was discussion
about planning for the election of HOA Board Members in 2018, which included
the possibility of staggered terms for Board members, and the feasibility of
holding an informational meeting for those who might be interested in serving
on the Board.
The
meeting was adjourned without objection after motion and second.
The
next meeting of the Woodland Farms HOA Board of Directors will be on Thursday,
November 16, 2017. Notice of the time and location of the meeting will be
posted in accordance with the HOA By-laws.
Minutes
prepared and submitted by Dale Slaton.
The Collection Practices Policy adopted by the Board at this meeting follows below:
Woodland Farms Homeowners Association
Collection Practices Policy
Whereas, Section 3.17
of the By-Laws of the Woodland Farms Homeowners Association grants power to the
Board of Directors to conduct Association business; and
Whereas, Article 6 of
the Declaration creates the covenant for Members to pay assessments to the
Association as provided for therein; and
Whereas, The
Association’s economic well-being relies on the timely payment of assessments
and other allowable charges; and
Whereas, It is the
Board’s duty to use its best efforts to collect funds owed to the Association;
It is therefore resolved that these collection practices shall be
adopted as the Collection Practices Policy for the Woodland Farms Homeowners
Association, and shall be followed.
1. AMOUNTS DUE TO THE ASSOCIATION
Amounts due include, but are not limited to, regular assessments, special
assessments, rules enforcement fees or fines, repairs to the common area that
are the responsibility of the homeowner, interest, legal fees and other costs
associated with collection of funds on behalf of the Association.
2. IN ACCORDANCE WITH SECTION 6.7 OF THE
WOODLAND FARMS DECLARATION:
(a) Any assessment that is not paid when
due shall be delinquent;
(b) If an assessment is not paid within
30 days of its due date, the assessment shall bear interest from its due date
at an annual rate of one and one-half percent (1 ½%) per month plus a late fee
of $10.00 per month;
(c) The Association may bring an action
at law against the Owner personally obligated to pay same, and/or foreclose the
lien against the property as provided by the laws of the State of Oklahoma;
(d) Reasonable attorney’s fees pursuant
to legal collection actions may be added to the amount of the assessment.
3. ORDER OF CREDITING PAYMENTS:
Payments received shall be first applied to assessments owed, then to
late charges, interest, or collection expenses.
4. PROCESS FOR DELINQUENCY NOTIFICATION:
For all balances that are 30 days past due, the following notification
process applies:
(a) FIRST NOTICE:
First Notice of Past Due Charges, including a detailed account of
assessments, late fees, interest, or other charges that apply, will be sent by
First Class Mail to the owner whose balance is 30 days past due.
(b) SECOND NOTICE: Second Notice of Past Due Charges, including
the same detailed account of the amounts owed as was contained in the First
Notice of Past Due Charges, shall be sent by First Class Mail to the owner
whose balance is 60 days past due.
(c) 10-DAY DEMAND: A 10-day demand for payment shall be sent by
certified mail, return receipt requested, to the owner whose balance is 90 days
past due. This notice will inform the
owner that this is their final notice to pay prior to the initiation of legal
action to collect the amounts owed.
5. LEGAL ACTION:
Once the steps for Delinquency Notification, contained in paragraph 4
above, have been completed, and the amount owed is 120 days past due, the Board
may initiate legal action of collect the amounts owed.
This policy
was adopted at a meeting of the Woodland Farms HOA Board of Directors held on
_________________________, 2017, in accordance with the By-Laws of the
Association.
__________________________________ ______________________________
Jan Cooley,
President Attested
by,
Dale
Slaton, Secretary
