ARTICLE I
NAME AND PURPOSE
Section 1. The name of this Association will be “Hope Valley Neighborhood Association.”
Section 2. The purposes of this Association will be (1) to promote, maintain and enhance the Hope Valley neighborhood, as hereinafter defined, by providing a forum for neighborhood activity; (2) to be a voice for our common neighborhood interests by acting as liaison with governmental bodies and with institutions, schools, and businesses in and around our neighborhood; (3) to work with other neighborhood associations on common concerns; (4) to serve as a focal point for maintenance and improvement of institutions and facilities serving our neighborhood, including parks, schools, and public safety services, and to provide an avenue for neighborhood social activities; (5) to encourage and facilitate vigorous citizen participation in all issues affecting our neighborhood, including land use, zoning changes, traffic patterns, and street modifications; and (6) to provide for the community welfare generally and to conduct other lawful business not inconsistent with these by-laws.
Section 3. This Association is and shall remain a non-profit organization and no part of the net earnings thereof shall inure to any individual member.
Section 4. This Association shall not endorse or align itself with any political party or candidate for public office.
ARTICLE II
MEMBERSHIP
Section 1. The membership of this Association shall consist of any natural person 21 years of age or older who resides or owns property in this neighborhood and has paid the annual dues. All members are voting members. All memberships expire on the day before the Annual Meeting in October of each year.
Section 2. Dues of the organization shall be established annually by the Board of Directors.
Section 3. The Hope Valley Neighborhood shall include all of the lots, streets, and other properties illustrated on the attached map within the outlined boundaries.
ARTICLE III
GOVERNMENT
Section 1. The Hope Valley Neighborhood Association shall be governed by a Board of Directors which may take action in the name of the Association.
Section 2. The Board of Directors shall consist of a President, a Vice-President, a Secretary, a Treasurer, the Immediate Past President, and four at-large members elected by the membership at the annual meeting.
Section 3. During the first Association year commencing June 9, 1993 and ending on the date of Annual Meeting in October 1993, five members of the Board of Directors shall constitute a quorum. Thereafter six members of the Board of Directors shall constitute a quorum for doing business. Each member shall be entitled to one vote.
Section 4. To be eligible for elected office, a person must be a member.
Section 5. Board of Directors members shall serve without compensation.
Section 6. The powers and duties of the Board of Directors shall include: (a) the appointment of all standing and other committees or chairpersons thereof. This power can be delegated to the President. Committees shall derive their direction from the Board of Directors. (b) the appointment of all persons or organizations to serve the association. (c) the filling of vacancies on the Board of Directors until the next annual meeting. (d) the annual appointment of a five-member nominating committee, no more than two of which may be members of the current Board. (e) interpretation of the By-Laws. (f) the approval of expenditures of Association funds. (g) the establishment of policy for the Association. (h) the dissolution of all standing and other committees. This power can be delegated to the President.
Section 7. The President shall preside at all meetings of the Association and the Board of Directors and shall perform such duties as directed by the Board of Directors.
Section 8. The Vice-President shall perform all duties as may be assigned by the President or Board of Directors and shall be the presiding officer in the absence of the President.
Section 9. The Secretary shall be the official custodian of all records of the Association except membership records, shall keep the minutes of the Association and the Board of Directors, shall send all official correspondence in the name of the Association, and shall give all required notices.
Section 10. The Treasurer shall keep and be responsible for all funds of the Association and shall keep the membership records. The funds shall be deposited in an account in the name of Hope Valley Neighborhood Association. The Treasurer shall make a list of all members which shall include each member’s name, address, and date joined or renewed. The Treasurer shall provide a current list to the Secretary on a periodic basis. The President, Vice-President and Treasurer shall have signature authority on all bank accounts of the Association. All monies belonging to the Association shall be delivered to the Treasurer and all bills shall be submitted to the Treasurer for payment. The Treasurer shall provide regular reports of all transactions and prepare financial statements as directed by the Board of Directors.
Section 11. Immediate Past President. The Immediate Past President shall serve a term of one year only, commencing at the conclusion of his or her term as President. If for any reason the Immediate Past President cannot or will not serve, the Board of Directors may appoint one member who has previously served as an officer or director to serve in the place of the Immediate Past President.
ARTICLE IV
Section 1. The Annual Meeting of the membership of the Association in each year shall be held during the month of October on the particular day, hour and place as determined and designated by the Board of Directors. Written notice of the annual meeting shall be given at least five days prior to such meeting.
Section 2. Special meetings of the membership for any purpose may be called (1) by the President, or in the President’s absence by the Vice-President, or (2) by the Secretary upon the written request of 15 members. Written notice of all special meetings stating the time, place, and object thereof shall be given to the membership at least five days before such meeting.
Section 3. Twenty members shall constitute a quorum for the transaction of business at any annual or special meeting of the membership. At each meeting of the membership, each member shall be entitled to one vote and decisions will be made by single majority. After two successive meetings of the membership, held with due notice, at which a quorum is not obtained, howsoever many members as may attend the third consecutive meeting shall constitute a quorum.
ARTICLE V
FISCAL YEAR
The fiscal year of the Association shall end on the 30th day of September.
ARTICLE VI
PROCEDURE
The President shall regulate and govern all debate and action by the Board of irectors or the membership at any meeting in a manner which promotes a fair exchange of views and the efficient dispatch of business. When resort to rules of procedure becomes necessary, business shall be governed by the rules of procedure promulgated by the North Carolina Institute of Government for small deliberative bodies.
ARTICLE VII
AMENDMENTS
These By-Laws may be amended by a simple majority of the Association at a regular or special meeting. Such By-Law changes must be recommended by a simple majority vote of the Board and the membership.
ARTICLE VIII
DISSOLUTION
In the event the Hope Valley Neighborhood Association becomes inactive or dissolves, all monies in the general fund shall be-distributed to a tax-exempt community-oriented institution or organization approved by the majority of the members of the Association at the time of dissolution.