Notice of Special Assessment Meeting

To be held March 26, 2007 @ 6:00 p.m.

Mandolin Bay Clubhouse

Notice is hereby given that the Board of Directors of Mandolin Bay Villas will hold a 

Special Assessment Meeting for the following:

1.  SEAL COATING of the Parking lots        $10,625

2.  Water / Sewer for remainder of 2007        $5,040  (see note #1)

3.  2006 Deficit                                                $15,000 (see note #2)

4.  Landscape Kelly Rd Berm                        $1,735

                                            Total Assessment  $32,400

                                            Per Unit                    $450

Note #1  The Board of Directors voted to eliminate the water billing company and the services provided.  Water and  Sewer will become a "common expense" that will be included in future maintenance fees.  The Board decided to assess for the remainder of 2007 rather than re-adopt a new budget.

Note#2  As was previously exhibited in the "Proposed 2007 Budget" the association incurred a dramatic increase in insurance in 2006 and this caused an operating feficit of $15,000.  The Board has decided to assess for this deficit.

Agenda

1. Call to order
2. Determination of a quorum
3. Proof of notice of the meeting or waiver of notice
4. New Business
   1.  Vote on Special Assessment in the amount of $32,400
5. Adjournment