This document creates The Bridgeport Airport Estates Home Owners
Association here after referred to as "the Association". It establishes
membership criteria, rules, regulations, and procedures in the operation of
the Association. Bridgeport Airport Estates, Inc. will conduct all business
for the Bridgeport Airport Estates until the Association is formed.
MEMBERSHIP
The Association will be formed when ten (10) lots are sold (see
update page). At that time each lot owner will become a member of the
Association. In the case of joint or multiple ownership of a lot, the lot
owners will name one owner as the voting member. The voting member
of such joint ownership may be changed from time to time at the discretion
of the joint owners. In the event that more than one lot is owned by a
person or group of persons, one voting membership will be created for each
lot owned. That is; one lot, one vote. The ten voting
members will then assume control over the Association. Voting members will
be added as each lot is sold. The owners will conduct a vote and select by
simple majority the officers of the Association to consist of at least:
President, Vice President, and Secretary/Treasurer.
These Officers will hold meetings on a regular basis to conduct the business
of the Association. The Association members may change, delete, or modify
the Association rules and bylaws by a 3/4 vote.
COMPLIANCE
City of Bridgeport codes, rules and regulations will apply to Bridgeport
Airport Estates. The Association may pass regulations that are More
restrictive than the City of Bridgeport regulations but not Less
restrictive. Fines and other corrective measures may be established by the
Association. The Association will be responsible for assessing funding
requirements to the members as needed for maintenance of the roads,
taxiways, and other requirements the members establish.
DISSOLUTION
The Association may be dissolved by three quarters vote of the lot owners,
however, maintenance of the roads and taxiway shall remain the
responsibility of the owners of the lots.
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