QUESTION: With one-half of 2015’s Association dues payable on January 1, 2015 (late on January 31, 2015) what do our dues pay for?
ANSWER: The Springs CCR’s Article XXXVI specifically addresses the purpose of our annual dues:
Article XXXVI
MAINTENANCE FUND AND GENERAL POWERS AND DUTIES OF THE BOARD OF DIRECTORS OF THE ASSOCIATION
Maintenance Fund: The Board, for the benefit of the Owners, shall establish and maintain a maintenance fund into which shall be deposited the annual assessments collected for Owners and which maintenance fund shall be used, without limitation, for the payment of the following:
(a) Taxes and assessments and other liens and encumbrances which shall properly be assessed or charged against the Common Areas rather than against the individual Owners, if any.
(b) Care and preservation of the Common Area and Common Facilities.
(c) the services of a professional person or management firm to manage the Association or any separate portion thereof to the extent deemed advisable by the Board of Directors, (provided that any contract for management of the Association shall be terminable by the Association, with no penalty upon ninety (90) days prior written notice to the managing party) and the services of such other personnel as the Board of Directors or by the manager.
(d) Legal and accounting services.
(e) A policy or policies of insurance insuring the Association, its Directors, and Officers against any liability to the public or to the Owners (and/or invites or tenants) incident to the operation of the Association in any amount or amounts as determined by the Board of Directors.
(f) Workers compensation insurance to the extent necessary to comply with any applicable laws.
(g) Such fidelity bonds as may be required by the Bylaws or as the Board of Directors may determine to be advisable.
(h) Any other materials, supplies, insurance, furniture, labor, services, maintenance, repairs, structural alterations, taxes or assessments (including taxes or assessments assessed against an individual Owner) which the board of Directors is required to obtain or pay for pursuant to the terms of this Declaration or by law or which in its opinion shall be necessary or proper for the enforcement of this Declaration.
(i) Perpetual maintenance and enhancement of all Common Facilities, including perimeter wall, entry monuments and signage, landscaping, lights, and irrigation of Common Facilities.
[Note: the Association dues for 2015 remain $720.00, the same amount as assessed in 2014]
These monthly “Test Your Knowledge” CCR messages intend to remind residents of The Springs of the Covenants, Conditions, and Restrictions (CCR’s) that apply to all Springs residents solely by our election to live in this community. The purpose of the CCR’s is to maintain specific standards for the good of us all, as articulated in their definition:
“THE SPRINGS AT STONE OAK is encumbered by these Restrictive Covenants for the following reasons: to seek to achieve the best and highest use and most appropriate development of the property; to protect lot owners against improper use of surrounding lots; to preserve so far as practical the natural beauty of the property; to guard against the erection of poorly designed or proportioned structures of improper or unsuitable materials; to encourage and secure the erection of attractive improvements on each lot with appropriate locations; and to secure and maintain proper setbacks from streets and adequate free space.”
If you are a Springs resident who has misplaced your copy of the CCR’s, or are a new resident who wasn’t provided a copy by the previous owners or your realtor, you can view (and download in Adobe Reader [.pdf] format) the complete Springs CCR’s and By-Laws at the Consolidated Bylaws and CCRs section of this website, located in the Pages & Links tab.
