“How to revise the covenants so financial and other business requirements are indexed to general accounting standards.” [Problem Statement #16 in the survey]
The current covenants state certain requirements in dollar values that were set to the time of their writing, the 1980’s. Those hard dollar legal limits apply today, with no index for inflation. By 31 to 6 membership surveys supported indexing covenant dollar values to inflation. (Pro-change members score= 5.17).
This proposal would amend the Covenants to adjust dollar values in the covenants based on the federal cost of living index, and require that the Board provide periodic computations of the adjusted values in the HOA Rules. The proposed new language is found in the Draft Covenant Proposals, Article VIII at section 8.6.6 (on the Saddlehorn Blog).
Saddlehorn Ranch HOA 