Evergreen Valley Recreation Club (EVRC)
September 2007 Member’s Ballot

There are two Measures to be decided by the members of EVRC. Review each Measure and cast your vote for each. Return your ballot to EVRC no later than 5PM on Sept. 29 Saturday. Please vote and return your ballot– even if it is a vote to abstain – as every ballot counts toward meeting our needed quorum.

Measure  1 - Fate of EVRC (Vote for one of the following.)
	___ Option 1: 

Maintain EVRC and the pool facility but amend the corporate charter or by-laws as necessary to establish “shares” in the club with members required to purchase at least one share. Members would still be required to pay annual membership dues. 

Share prices would be set high enough to retire our current loan of ~$350K with annual dues set high enough to cover general operating expenses. (Estimate for 100 members: approx. $3,500 per share and $250 annual dues; for 60 members: approx. $6,000 per share and $420 annual dues. We currently have 57 members.) 

	___ Option 2

Liquidate EVRC. Close the club and sell the pool facility at fair market value. Proceeds from the sale should be enough to retire the club’s loan and payoff any other outstanding debts. If there were any balance remaining after settling all debts, the membership would then have to decide how to distribute those proceeds. (Likely options would be to donate the proceeds – e.g., to a local swim team – or to equally divide the proceeds among the current membership.)

	___ Option 3

Continue EVRC as currently structured but increase the annual dues to cover the club’s operating expenses, including renewing and servicing the existing loan.  Estimated annual expenses for 2008, including loan renewal:~$70,000.  (Estimate for 100 members: approx. $700 annual dues; for 60 members: approx. $1200 annual dues. We currently have 57 members.)

	___ Abstain

Measure 2 - Suspension EVRC Board Member Term-Limits.

EVRC By-laws, Article 5, Section 2 stipulates: “No Director shall be eligible for election for more than four (4) consecutive years.” 

The term-limit restriction for EVRC board members shall be suspended for the November 2007 election of board members to serve on the 2008 EVRC board.

	___ Yes	___ No		___ Abstain

Member Signature			Date		

Print Name		   
(Only one vote is allowed and one signatory is required per member-household.)