At the Board of Directors meetings held on 25 August, 8, 17 & 22 September and 6 &15 October 2010 it was resolved to:

1. Accept the Tura Beach Steering Committee's Report on Financial Viability and the Committee's advice that the new Tura Club is viable within the scope of the Terms of Reference and according to the definitions and parameters outlined in the report.  The Board offered its appreciation and congratulations to the Steering Committee on their excellent report.
2. Clarify the terms of the first right of refusal provided by MIBC Ltd to new Tura Club relating to Lot 1442 as:
   • The new Tura Club, or another party approved by the both the Board of the new Tura Club and Board of MIBC Ltd, will be able to purchase lot 1442 in the following circumstances:
     • If the new Tura Club wishes to purchase the Lot at market price, MIBC Ltd will sell it to the new Club at that price.
     • If MIBC Ltd receives an offer to purchase lot 1442 from another party, and MIBC Ltd wishes to sell the lot at the price offered by that party, MIBC Ltd will first offer to sell Lot 1442 to the new Tura Club at that price.
     • If MIBC Ltd wishes to sell lot 1442, in circumstances other than those in the previous two points, it will first offer to sell the Lot to the new Tura Club at market price.
     • The market price/value is to be determined by an agreed valuer or in the absence of agreement, Caddey Searl Jarman will define the value.
3. Progress insertion of a "right of way" on the title deeds of Lot 1442 in favour of the owner of Lot 1441 so to ensure permanent vehicle access is provided to patrons etc of the new Tura Club through the existing driveway.
4. In the interest of assisting the initial cash flows of the new Tura Club, the Board resolved to delay commencement of the monthly loan repayments on the working capital advance under the conditions:
   • Loan term of a maximum of 72 months with monthly repayments to commence no later than the 37th month. No less than 25% of original debt to be repaid in each year commencing from the 37th month and loan to be fully repaid within the 72 month period.
5. Write to BVSC to remind of the non-negotiable terms and conditions, as previously communicated by the Board to BVSC, required for the Board to agree to a road through club land for rear access to Main Street properties.
6. Request a representative from Bowls NSW visit the Merimbula venue to provide advice regarding reversing the decline in Bowling memberships.
7. Meet with the Men's and Women' Merimbula Bowling Management Committees to discuss the merits of appointing a Bowls Co-ordinator to oversee and reinvigorate all bowls related matters at Merimbula.
8. Approve the following capital expenditure:
   • Merimbula: Pedestrian Top Dresser ($12,000), Photocopier ($14,500), Bar Till ($5,400), Glass Partition and Door between TAB and Rockpool ($8,000), Artificial Plants for Gaming lounge and Rockpool ($8,500)
   • Tura: Lake Aerator for Irrigation Lake ($10,000), Pro Core Aerating Machine ($15,500), Graden Roller ($13,500), Second Hand Spraying Unit ($8,000)
9. Amend the date of the company AGM to Sunday 21st November 2010 due to Auditor's unavailability.
10. Include two Special Resolutions in the Notice of Meeting for the AGM relating to the introduction of a new golf membership category with limited rights including limited access to the golf course to be known as "Restricted Golfing Membership" and a minor amendment to one article in the Constitution to facilitate MIBC Ltd's application to join the NSW Government and not-for-profits' buying group known as NSWBUY.
11. The two candidates for the two positions of Deputy Chairmen of the Board to have equal seniority during their upcoming 12 month term so to avoid a very costly election for the sole purpose of determining seniority. Electoral Commission approves of this decision.
12. Agree to the proposal that the company be responsible for GST from golf sections' expenses and incomes and sections receive $4 net from each comp fee.
13. Develop written criteria to provide a guide to an individual's suitability and eligibility for Life Membership.
14. Approve changes to trading hours of the clubhouse at Tura.
15. Conduct concurrent Members Nights at both Merimbula and Tura on Monday 15 November 2010 so to allow more members to attend these very popular events.
    
16. Confirm the Merimbula August Triples are to be conducted as a two bowl event over 25 ends. Approve a variety of changes to Merimbula tournaments as recommended by the Tournament Committee.
    
17. Conduct annual Volunteers' Cocktail Party on Monday 29th November 2010 at Merimbula.
    
18. Approve CDSE Category Two donations to; Merimbula Knights Cricket Club, Imlay House Auxiliary, Lions Club of Pambula Merimbula and Delegate Country Club.
    
19. Approve TBWBC request to donate funds raised on annual charity day to the Rural Fire Service and to approve discounted drinks and waiving of green fees for unfurling of the flag day.
    
20. Clarify with MIWBC that any potential increase in prize voucher amounts will need to be funded by a corresponding increase in green fees.
    
21. Approve 248 new and transferring memberships comprising:
    
    • Social and Staff Members: 236
    • TBCC Bowls 2
    • MIBC Bowls 1
    • Golf: 3
    • Country Golf: 3
    • Gym Junior 3

The next monthly Board Meeting will be held on Wednesday 20 October 2010.

Damien Foley
Chief Executive
15 October 2010