The Treasure Lake BOD met today after a discussion with the Treasure Lake Legal Counsel regarding an Assessment the BOD placed for FY2024.

Below is the Restrictions Article that gives the BOD the legal authority to enforce an Assessment according to Legal Counsel.

Article III, Section E of the Declaration of Restrictions gives the Club (the Association) the authority to “levy and collect fees, dues, taxes and assessments from its members” to “establish a reserve fund for such purposes as the Board of Directors may approve,” to “provide for the maintenance of all Club buildings, recreational vehicle park, equipment, and other community features” and to “expend the monies collected by the Club from dues, assessments or charges….for the payment and discharge of all proper costs, expenses, and obligations incurred by it in carrying out any or all of the purposes for which it is formed.” Clearly, an assessment for capital expenditures is contemplated by Article III, Section E.

The BOD decided to put a hold on the Assessment for 2024 at this time.

Because of the ongoing state of struggling financial affairs of Treasure Lake, which has been communicated multiple times throughout 2023, the BOD will be looking at decreasing even more operating expenses which will affect the operations of our park.

Along with digging deep to cut even more expenses from the Operations of TL the BOD has decided to increase the prices back to the original amounts prior to 2023 decreases.

Owners who have already paid the 2024 Assessment will receive refund checks which will be mailed the week of December 11th.

Lee Steveson
TLCC President

View on Facebook: Click Here