Saturna Island Property Owners Association

Annual General Meeting

February 25, 2006:  6:30 p.m.

Attending:  Richard Backus, John Gaines, Hugh Grasswick, Brian Haley, Nick Kaiser, Ian Smyth,  Susie Washington Smyth

Election of Directors and Officers of the Association:   Moved and Carried.

Cunliffe Barnett as President and Director

Richard Backus as Vice President and Director

Brian Haley as Treasurer and Director

Susie Washington Smyth as Secretary and Director 

John Gaines, Hugh Grasswick and Nick Kaiser as Directors of the Association.

Change of Registered Office of the Association:  Moved and Carried

The registered office of the Association will be at Jones Emery Hargreaves Swan, Suite 1212, 1175 Douglas Street, Victoria, British Columbia, V8W 2E1

Banking Resolution:  Moved and Carried

The Royal Bank of Canada is appointed as the banker for the Association and that the signing authorities are to be two of the three following individuals:  Brian Haley, John Gaines and Susie Washington Smyth.  Any two directors of the Association are authorized to sign the bank’s required documents.

Communications/Membership:  Moved and Carried

A letter announcing the formation of the Association and an application form soliciting membership will be sent out to all Saturna property owners on July 1, 2006.

Meeting Adjourned.  Moved and Carried

Susie Washington Smyth, Secretary