Minutes of the 1995 Membership Meeting
BALLENA BAY TOWNHOUSE ASSOCIATION
ANNUAL HOMEOWNERS' MEETING
October 10,1995

MIMUTES

CALL TO ORDER - President Flanigan called the meeting to order at 7:40 p.m.

ROLL CALL - Manager Rich Noble reported that a quorum of the members was represented in person or by proxy.

PURPOSE OF THE MEETING

President Frankel explained that the purposes of the meeting were as follows:

1. To consider reports of the affairs of the corporation

2. To elect Directors of the Association

3. To transact any other business to come before the meeting that is within the powers of the shareholders.

APPROVAL OF MINUTES OF THE ANNUAL HOMEOWNERS' MEETING OF OCTOBER 11,1994

MOTION: It was moved, seconded and passed to accept the minutes of the October 11, 1994 Annual Homeowners' Meeting as submitted.

REPORTS

President - President Flanigan thanked the Board members for efforts over the past year, and asked the Directors to introduce themselves.

Finance and Insurance - Dr. Schwartz read highlights from his September 30,1995 report, calling attention to the fact that the reserves are underfunded.

President Flanigan responded to questions regarding legal fees.

TAX RESOLUTION

Mr. Noble explained the purpose of the tax resolution and encouraged members to cast their ballots.

ELECTION OF DIRECTORS
President Frankel opened the floor for nominations.

MOTION: It was moved, seconded and passed to nominate the slate of directors:

Julie Dent
Jeff Frankel
Linda Kopps
Lee Manter
John Moore.

The candidates were introduced and each made a brief statement.

MOTION: It was moved, seconded and passed to close the floor for nominations.

MOTION: It was moved, seconded and passed to elect the slate of directors by acclamation.

GENERAL DISCUSSION

John Moore commended Mary Neil for her efforts in improving the landscaping, and announced that she would be the recipient of the first Ida Stone Memorial Citizen Award.

ADJOURNMENT

The meeting was adjourned at 8:00 p.m.