President Ben Givens called the meeting to order at 9:00 a.m. Board members present were Bob Burwell, Ben Givens and Lars Warn.

Minutes of the March 25, 2002, meeting were approved as presented.

Secretary/Treasurer Bob Burwell reviewed the March 31, 2002, Financial Report. The Operating Account had a balance of $37,894.07 however $16,712.37 of that amount was Prepaid Owners Fees. The Reserve Account had a balance of $143,861.37. The first three months had total expenses of $77,057.64 compared to budget of $85,404. The report showed $1,210.56 in delinquent monthly maintenance fees. The two owners delinquent in monthly maintance fees as of March 31, 2002, are now current.

The December 31, 2001, review by our CPA stated that our cash balances at Premier Community Bank were over the $100,000 limit insured by the FDIC. A certificate of deposit has been purchased from PCB of Venice for a period of one year with interest at 3.20% payable monthly thereby reducing our cash balance below $100,000.

Kay Strehle from Rampart Properties reviewed her April 22, 2002, management report.

The following notes were from the Suggestion Boxes:

Cliff Snedeker #400 - Requested that something be done about the Island Walk Condominium sprinklers along our north parking lot wall. This issue was addressed at the March Board meeting and Kay Strehle stated that after visiting with the property manager of the Island Walk Association, the sprinkler heads will be changed.

Terry Werner #907 - Presented several questions concerning the December 31, 2002, review financial statements.
1.) The cash balances exceed the $100,000 FDIC coverage. Funds have been transferred to another bank reducing the cash balances below $100,000 as outlined in the Treasurer's report.
2.) A reserve for the seawall was started with the 2002 budget, with $5000 to be reserved this year.
3.) The annual report by the CPA was in accordance with Statement on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. The Board receives monthly reports from Rampart Properties showing copies of bank statements and detail of every income and expense item. Any Board member will make this information available upon request by any owner.
4.) Yes, heating the two pools and the SPA is a major expense. The Board has not considered changing from natural gas to heat pumps. Kay Strehle was instructed to investigate the idea.
5.) The Board does receive a breakdown of all bills and payables in the Rampart monthly financial report.

Sue Clark #1002 - Request for $150 to replenish the party fund. It was moved and seconded to send Sue Clark $150 for the party fund. Motion carried.

The following applications for sale were approved:
Unit #203 - Michael T. and Valerie M. Janoso
Unit #305 - Sam and Bernice Tarnow

Landscaping Committee - Jo Warn presented a bid from Practical Gardening to improve the landscaping.
Treasurer Bob Burwell stated that as of March 31, 2002, there was an excess of $730 in the Grounds budget and $2499 in Contingency.
It was moved and seconded to approve up to $2547.50 for the front of the building, $84 for the Power Box Area and $905 for the Pool Area as outlined in the Practical Gardening bid. Motion carried.

Emergency Committee: Tim Wukie left a memo to be placed on the bulletin boards concerning flushing of water heaters.

Lightning Committee: The committee is gathering data for various types of lightning protection and will report back at a future Board meeting.

Bob Burwell stated he is working with the painting contractor concerning the repainting of the exterior doors.

Bob Burwell stated that two items were still pending with Sound Construction. They are waiting to hear back from the window manufacturer and the air conditioner company for suggestions to reduce noise and vibration. Burwell will also check with Chuck Goldsmith to find out who might be contacted at an engineering department at one of our universities for any suggestions.

Several owners present complained of noise in their water pipes. The Board reminded them that this issue had been discussed several times and that Clearwater Plumbing had determined that the noise is caused by pressure values in individual units that need to be replaced. Kay Strehle was instructed to write letters to all owners on the "04," "09" and "10" units.

Bill Johnson #709 presented a proposal for enhancement of the 680 entrance. He stated that a meeting was held April 13th with nine of the eighteen owners of the 680 building present. All of those owners in attendance plus three others that were unable to attend voted unanimous support and pay for the proposed enhancement. The proposal is for a concrete covered walkway to the 680 front door at a cost of approximately $30,000. A letter has been sent to all eighteen owners with the proposal. Johnson is requesting permission for the group to proceed with the enhancement.

President Ben Givens stated that he had received letters from Dale Schooley #210, John Lawson #510 and Bruce and Sheron Nichols #809 objecting to the proposal. Givens stated that the letters did not object to "the merits of the entryway improvement but by the means by which it should be accomplished." They felt the improvements should be approved by a vote and mutual financial sharing of all members of the association in both the 670 and 680 buildings. Givens stated that the Board had requested our attorney, Nathan Hightower, attend the meeting to embelllish on his letter to the Board dated January 24, 2001, concerning Modification to Common Areas. Hightower stated the contents of his letters remained the same and that it was up to the Board to determine if the improvements were "material" or "substantial."

Sheron Nichols, a former representative of the developer, stated that an enhanced entry with a covered canvas walkway to the 680 building was planned by the developer, but was not completed by the turnover date. Ben Givens emphasized that the three objectors did not oppose the improvement, only the method of approval, and that under the proposal the improvements are a gift by the owners and no expense to the association.

It was moved and seconded to approve the enhancement to the 680 entrance provided the final engineering plans and construction contact are approved by the Board and all of the funds are deposited with Rampart properties before commencement of construction. Motion carried.

Tony Marino # 804 requested permission to form a committee to investigate improvements to the bank of five air conditioners condensers on the 8th floor. The Board stated he does not need Board approval for such a committee, but the Board must approve any changes and/or improvements.

The next meeting will be scheduled later.

There being no further business, the meeting was adjourned.

Robert A. Burwell, Secretary/Treasurer