Article 8 of the Articles of Incorporation of Bonney Lake Manor Homeowners Association
Dissolution. The Association may be dissolved only upon a resolution duly adopted by the Board of Directors and the affirmative vote of members who are Owners of not less than two-thirds (2/3) of the Lots. (It takes 61 affirmative votes to pass a resolution)
The Board of Directors have unanimously voted to duly adopt this resolution, and request that the Owners vote, to decide if the Bonney Lake Manor Homeowners Association shall be Dissolved.
What this would mean if passed:
No more dues would be collected, and the funds in the accounts would be used for the Dissolution of the Association.
The signage at both the north and south entrances would be removed along with electric service and sprinkler controls at the southwest sign. The existing landscaping would be removed if the homeowners of the affected lots requested it, and the easements would be landscaped to match as closely as feasible the surrounding area. The easements for signage on these lots would be vacated and the Owners would no longer be required to provide access to the easement.
- The lawn care service would be terminated.
- The attorney would be notified of the dissolution.
- The website would be dismantled; the Facebook page may likely remain.
- Each homeowner would receive the folder for correspondence for their lot.
- The insurance policy would be cancelled.
- The Post Office Box would be vacated.
- A final tax return would be filed for 2019 in 2020.
After the dissolution process is completed. All remaining funds would be divided equally among all Owners whose dues are current. Any owners who have delinquent dues and/or outstanding monies owed, would have that amount applied to their account prior to the remaining funds being divided. If any homeowner has a lien against their property for non-payment of dues, late fees, or fines to the HOA, it will be their responsibility to pay the costs to have the lien removed, if their share of the remaining funds do not cover these costs.
Official Ballots will be mailed out the week of May 13, 2019 and must be returned no later than June 15, 2019 to be counted.
If you have any questions, please contact the board at firstname.lastname@example.org
Or you can call Terry Linville (206) 300-8018 between 4:00 pm and 8:30 pm weekdays, and between 10:00 am and 4:00 pm on weekends.
UPDATE 6-20-2019 : Ballot collection is complete and votes have been tallied. Results will be mailed and posted here soon.