HPP Biz

[leo]

Here is the actual wording that the member made at the Oct. members meeting for the forensic analysis, “I move that the HPPOA Membership authorize the Board of Directors to hire a forensic accountant for the purpose of conducting a forensic analysis on any and all Association finances.”
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Members voted to give the board authorization to have a forensic analysis. I'm sure there won't be a problem finding the money. It's the "intelligent path" for the board to take. This isn't about them and it's time they understood that.

[caveat emptor]

Just got word that posted on the HPPOA web site is notification of a special board meeting being held in 2 days on the 14th at 3:00 in the library. From what I have recently gathered from people there is, right now, several huge on going violations of the HPPOA bylaws.
I was recently sent an email that I will post soon from a Finance Committee member, and which I have verified all as accurate, that was written to all of the FC members and cc'd to the whole board out lining the serious violations to the Association.

The general manager with the collusion of some, yes, the regular suspects on the board including the treasurer, have deceived the finance committee concerning the refi of the road bond from 2007.
The FC and some on the board were never told that the refi is actually a new bond and not, as they were presented in committee and the board in previous board meetings, a bank loan.
Every one should be able to guess that there is a big difference between a bank loan and a bond. So why lie to the FC and lie and deceive some on the board about what the general manager was really doing behind the scenes?
The GM has no business even doing negotiations for the Assassination, it is the FC's responsibility to advise the whole board!

From what I have seen from the email that in the new bond indentures, the Association may end up being really buggered. But who really knows, since the FC was illegally kept from knowing anything about the new bond. The current bond requires that 110% of the annual accounts receivable be secured for assurance of bond financing. That leaves 90% to budget for association road maintenance. It appears that the new indentures require 150% leaving the association budget with only 50% of what is left over to fund road maintenance and other costs.
That is just one thing pointed out to me from 54 pages of the indenture.

It gets worse. The Treasurer, Chris Anderson District 8, the one who said in his Director Candidate Form when he wanted to be elected by his district, that "he wouldn't steal any money". Well, maybe it isn't stealing, but when he signed a contract on Dec. 4th to pay a financial adviser on the mainland $30K plus travel expenses to Hawaii without an approved board resolution authorizing him to sign the contract, he just committed the most egregious violation of the Association bylaws and of any corporations fiscal policies. And in effect he, according to the same bylaws, should be held responsible. But that would take board directors who want to follow the rules and laws and a membership that will come together to hold these ______ accountable.

As they say on TV, “but wait there’s more” to the unbelievable arrogance of the GM and some directors, it wasn't just a $30K contract the Treasurer signed without approval, there is a whole bunch of other work the obstructionist GM was up to while hiding behind some of the directors deception.

Apparently, the GM must have also been hiring law firms in CA. Without the FC or whole board knowing anything. How much is this going to cost? Don’t ask the Association’s FC, they were kept n the dark as well as the board President and a couple others.

Please go to the special board meeting on the 14th at 3:00. Those directors need to be seen and heard doing their dirty deeds, they plan on shoving the contract and the new bond down our throats (or is it more accurate to say shove it up the southern orifice). And please plan to attend the regular board meeting on the 20th at 6:00.
The scoundrels are probably planning on removing the board President from office because they don't like their dirty work constantly being brought into the light. You know what they say about rats applies to these directors especially Patrick Murdoch and Ruth Mazuba. This may happen either on the 14th or 20th but every one needs to observe their nasty behaviour directed at the good directors.

[leo]

Thanks for the information Caveatemptor. I'm working but I'll try and be there. It's unfathomable how the crap continues. The only way to put an end to it is to clean house starting with the rude office staff, lying general manager and majority of lying inept directors. If it looks like a duck, smells like a duck, it is a duck. What can be done to fire the general manager and conduct a forensic analysis which we voted for at the last general membership meeting? This is of great concern and should be to everyone who owns property in HPP. I won't be paying my road fees again next year if this crap doesn't stop soon. I'd rather put it in a savings account until I see changes. From what I heard the road fee debt is higher than it's ever been.

[mermaid53]

Caveatemptor, what you've posted here I'm sad to say is unfortunately true. Also unfortunate, it's only a few reps (the most experienced and ethical of the bunch) who are standing up for the bylaws, ask questions when they see red flags AND most importantly are standing up for the membership's best interests. I commend them for their warrior spirit and they sure could use the membership's support. They are Dist 5, 3 and 7.

What should be easy if reps "just follow the bylaws" has become a convoluted web of bad business decisions by not following the bylaws and policies as outlined to have a smooth running ethical business. They are inexperienced and insubordinate. There's been an ongoing battle between transparency and non transparency. As I've said many many times on these HPP threads, the question is why if there's nothing to hide? Now is not the time to stand on the sidelines. If you care about this association, YOUR $$$ and your roads, it's time to get involved and pay attention.

[mermaid53]

P. S. There's a Finance Committee meeting tonight Tues, 12 Dec, at 6 PM in the library. All members are welcome.

[mermaid53]

Please attend if you can.....a reminder that the FC has not been a part of reviewing this Bond first for the membership. The FC was initially excluded until the board pres forwarded the information to the FC to be transparent once she learned that the FC wasn't provided this information by the GM and Treasurer. FC was under the impression we were considering a loan bc that was the documents provided to them via the GM at their last mtg 28 Nov. Now the board is voting on a Bond w/out FC oversight. Many are wondering what the rush is all about and are concerned. A Trust Indenture w/54 pages was just recently presented to the board by the GM and Treasurer. All the forms are ready to be signed. There won't be a recording secretary present since the mtg was whipped together in less than a week. The board Secretary won't be there either as he had another scheduled engagement. There won't be a full board present at this mtg.

Special Board of Directors Meeting December 14, 2017, 3 PM Special BOD meeting

Notice is hereby given that there will be a Regular Board of Directors meeting of the Hawaiian Paradise Park Owners Association will take place on December 14, 2017, following the 3 pm Special BOD meeting, in the HPPOA Activity Center Library at 15-1570 Maku’u Drive in the Hawaiian Paradise Park Subdivision, Kea’au, Hawai’i.

I. Call to Order
II. Roll Call
III. Approve Agenda
IV. Bond Refinance
1. 10/19/16 Meeting motions log
2. 10/18/17 BOD Meeting minutes and Steven Gortler’s Proposal
3. Draft Credit Application from November BOD meeting
4. Email and Engagement letter for Steven Gortler
5. BOD emails RE: Engagement Letter
6. Email from Steven Gortler re: bond refinancing
7. Email RE: HPPOA – Refunding Bonds and ENGAGEMENT LETTER (needs to be signed)
7A. DRAFT Resolution
7B. DRAFT Bond Counsel Opinion
7C. DRAFT HPPOA Local Counsel Opinion – Research for HPPOA Local Counsel
7D. DRAFT Trust Indenture
7E. DRAFT Placement Agent Engagement Letter
8. Summary of Transaction
V. Adjourn

[Obie]

Do you think that time may be of the essence ?

You people are too funny. You are talking about taking out a loan ?
Where is your collateral ?

Dirt roads ?

That's why you are looking at a bond with 50+ pages of legal mumbo jumbo.

[leo]

You people? You're funny. Hope your former board peers know what they're doing for a change.

[caveat emptor]

Obster, what was used for collateral with the 1st bond in 2007 when we had even less assets at the time? I'll tell you, the same thing the new bond is demanding. Our accounts receivable, all of our road maintenance fees in other words... if worse came to worse and the Association defaulted.

I know, sounds like a plan to some. I'm in favor of receivership at this time, we need professional management. I never used to be, but the last 3 1/2 years has given me a different perspective, but not this way. It has to be orderly, with majority support of the Association.

[Kenney]

I would really like it if a Judge would hear our case and adjudicate it. There are laws being broken here by some of our “BOD Representatives” ” and some Employees who think they’re authorized to make deals and sign contracts and hire lawyers. (while leaving the roads in deplorable condition)

An orderly, majority supported, UNANIMOUS vote was made to authorize a Forensic Audit. Where did that get us?

Come to the meeting today if you can, and support the few BOD Members who do represent us. The nasty people are trying to run them out so their power is not questioned and ugly secrets remain so.