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Capital Reserve Fund fails to pass |
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Back to the drawing board
Big Canoe votes: 2,237 no; 1,517 yes
The POA Board released the following statement in a broadcast email distributed late Friday afternoon, September 26:
The initial results from the POA Audit firm are that 3754 votes were cast regarding the Amendment to our Covenants to fund a Capital Reserve. There were 5565 eligible votes.
The total cast exceeded the 35% (1948) required for a quorum.
The vote was 1,517 in favor and 2,237 against the Amendment. The vote failed as a 50% favorable vote is required.
September 25 was the final date for receipt of ballots. This note is to provide early, unaudited results. Another communication will be forthcoming soon confirming the final audited results and next steps.
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