King City Civic Association Resolution: Finance 2012-402
DISPOSITION OF ASSOCIATION MATERIALS AND PROPERTY (Excluding Real Property)
CC&Rs Article VI, Section 2.E;
Excess materials and properties to be disposed of shall be traded in, sold or scrapped unless there is little or no value to the Association or cost disposition exceeds the value of the material.
Materials and properties that are deemed to have little or no trade-in or salvage value to the Association may be given to employees or members of the Association for disposition.
For dispositions valued at under $250.00, the Administrator shall determine if such action is the least expense alternative to the Association.
For dispositions valued above $250.00 any variation from the general policy shall be at the discretion of the Board of Directors.
To maintain an accounting of such actions, the Administrator shall provide the recipient with a written authorization to remove the material from the Association's property.
The recipient shall provide the Association with a written description of the item(s), its origination and proposed disposition. A receipt for the disposition of such item(s) that are sold will be provided to the Administrator within 30 days of the approval to remove the material.
IT IS RESOLVED this ___ day of February 2012 by a majority vote of the Board of Directors and effective upon distribution of the Association's March 2012 Newsletter
King City Civic Association
By Terry Shane, President By Maxine Van Dyke, Secretary
Adopted 01/19/10
Reviewed and Revised 02/14/12