La Reata June 9, 2006 Board Meeting

Minutes
New Business
1. Meeting called to order by Boyd Johnson
2. Dianne discussed CCR requirements with the board and requested backing from
the board to enforce the CCRs. Recently Dianne has noted many infractions
against the CCRs and needs to step up enforcement efforts. Boyd asked Dianne
to first notify the property owner by mail then if no action was taken to resolve
the problem the board would then take over the matter to enforce the CCRs.
3. Joy will make La Reata financial records available to the accounting firm,
Freemon, Shapard & Story, which was retained to conduct the unaudited review
as required by the CCRs.
4. The board is considering putting forth for a vote a provision in the bylaws
prohibiting the board from entering into debt. Additionally the board is
considering putting forth for a vote a provision in the bylaws requiring the reserve
to be kept at $40K (one years income) to carry out the duties assigned to the
board, defend lawsuits and enforce the CCRs. A question arose regarding the
conflicts rising from differences in the CCRs vs. The bylaws. Boyd Johnson will
ask for an opinion from attorney Kevin Cochran.
5. The owner of the 9E ranch submitted complaints regarding dogs running loose in
La Reata Ranch and stated the dogs have killed a calf. All property owners are
asked to abide by the CCRs and restrict dogs from running loose.
6. The board discussed upcoming board elections and requests anyone interested in
serving on the board email Boyd Johnson.

Old business
The board foreclosed on a property where the owner has never paid dues. The lot was
sold, the title company overpaid LRR. LRR will cut a check for the amount of 387.41
and refund the overpaid amount.
Meeting Adjourned