Article I. Dues

Section 1. The annual dues of the members shall become due and payable in not more than thirty (30) days from billing date. It is recognized that this association is not formed primarily as a fund-raising organization and dues will be based on the best projection of the needs for actually carrying on the business of the association. Should some project be deemed by the membership to be desirable for the benefit of the neighborhood, nothing in the constitution and by-laws would preclude such activity when voted on by a majority of the membership for the accomplishment of the objective desired by the membership.

Section 2. Members failing to pay dues within thirty (30) days from date of billing shall forfeit their voting rights at subsequent meetings until dues are brought up to date. The annual billing date for the association shall be the first Monday in January of each year.

Section 3. The initial dues for membership into the association shall be set at Twenty-Five ($25.00) Dollars per year.

Section 4. In addition to the regular dues it is hereby agreed that the Board of Directors, upon ratification of the association, can make special assessments to the entire association based upon projected needs or any emergency needs arising or projections of the association.

Article II. Election and Duties of Officers

Section 1. The regular term of office for all officers shall be for one (1) year and shall expire at the regular annual meeting of the association. At the annual meeting, vacancies in the Board of Directors created by the rotating system shall be billed of the association membership. New officers for the association shall be elected by the new Board of Directors to serve for the ensuing year. Directors not rotating off shall be eligible for reelection as officers.

Section 2. The duties of the officers are as their title implies, but more specifically: The President shall be the leader of the association in promoting the objectives of the membership and presiding over regular, special, and annual meetings of the association and the Board of Directors: The Vice-President shall assist the President and preside over regular, special, and annual meetings of the association and Board of Directors in the absence of the President: The Secretary shall maintain good and accurate minutes of all regular, special, and annual meetings of the association and Board of Directors and prepare notices and other general correspondences as needed: The Treasurer shall collect, deposit, and maintain records of all dues paid and pay all bills under the following guidelines: (1) Pre-approved bills of $50 or less may be paid by the Treasurer without the co-signature of the President. (2) Expenditures over $50 must be co-signed by the President or, in his absence, the Vice-President, (3) All expenditures of any amount whether to be made by association members or Board members must be approved by the Board of Directors before expenditures can be made, (4) Financial records shall be made available to the Board of Directors and a financial report shall be made at each annual meeting. The Treasurer’s records shall be made available for audit at the request of the Board of Directors.

Section 3. The officers shall constitute a standing committee which shall be responsible for managing the use of Forest Lake as authorized by Forest Lake of Florence, Inc. This management shall be consistent with the grant of authority issued by Forest Lake of Florence, Inc. The officers shall publish such regulations of lake usage as required by Forest Lake of Florence, Inc. and shall be responsible to assure that such regulations are compiled with.

Section 4. All officers, upon completion of their terms, shall deliver to the President all records and accounts of their activities as an officer of the association, which shall become the permanent property of the association.

Article III. Committees

Section 1. The association shall have six (6) standing committees. Each committee shall be chaired by or have at least one active Board member appointed by the Board on the committee to insure good communications between the Board and the committees. The six standing committees shall be those listed below and shall have duties and responsibilities which include but are not necessarily limited to those enumerated below:

1. The Membership and Communications Committee shall develop and maintain a structure for efficient distribution of both oral and written information to association members and enlist present and new neighborhood residents as members of the association.
   
   
2. The Public Awareness Committee shall keep the Board and officers of the association informed of events of interest to the neighborhood, provide liaison with city and county boards and commissions and insure that the association is represented at all applicable meetings of such boards and commissions.
   
   
3. The Finance Committee shall assist the Treasurer in handling matters of a financial nature including the collection of dues, establishing dues for ensuing years, and assessment of financial status for special projects.
   
   
4. The Correspondence Committee shall assist the Secretary in normal secretarial duties including preparation and duplication of notices and other correspondence as required.
   
   
5. The Program Committee shall plan, make physical arrangements, and secure services as needed for neighborhood events including regular, special, or social meetings.
   
   
6. The Beautification Committee shall promote the enhancement of the beauty and general living conditions of the neighborhood and encourage homeowners in beautification of their property to insure that pride of ownership shall always exist in the community.
   
   

Section 2. The officers of the association may appoint such other committees as may deem appropriate under the circumstances in order to carry out the general purposes of the association.

Article IV. Board of Directors

The Board of Directors, elected at the general meetings, shall have the power to transact routine business of the association and fill vacancies in the Board of Directors if they should occur during the year, provided that no vacancy be filled within the last 30 days of the year. Routine business is defined as the matters regularly handled without a vote of the membership.