Bonds and FAQ's
What is Raccoon Valley Swim Club?
Raccoon Valley Swim Club is a private club for the athletic, recreational, and social enjoyment of its members. In order to allow for the comfort of its members, membership is limited to a total of 440 bond shares.
What is a bond share?
A bond share is a unit of ownership. The club sells bond shares to prospective members in accordance with its bylaws and then either repurchases or retires bonds when members leave the club.
How much is a bond share worth?
The cost of a bond share is $110. This is a one-time cost and members then use the same bond shares each year and just pay their yearly membership dues and any other fees that may be assessed.
How many bond shares do I need?
A single adult membership requires one bond share. Family memberships require two bond shares. Family memberships include (2) adult members and all children under the age of 24.
What can I do with my bond shares?
In addition to defining you as a member, your bond share denotes how many votes that your membership provides you during the annual meeting held in August.
How do I resign my membership?
Memberships must be resigned in writing prior to April 15th in order to be eligible for repurchase.
What if I don’t resign my membership before April 15th?
If you don’t resign your membership before April 15th then you are responsible for the annual dues for that year. If the annual dues are not paid prior to the annual meeting in August, then your bond(s) will be retired and have no value. Any former member is welcome to re-join the club by paying the then current new member dues and fees in addition to repurchasing bond shares if they are available.
When do I get my refund if I resign my membership before April 15th?
The club will repurchase the bonds of any shareholder that properly resigns their bonds. This purchase will occur in the order in which resignations are received. Bonds will not be purchased by the club until an approved new member has paid the club in full for the share.