The board of directors of our homeowners association (FL) have decided to take a vote on amending our covenants and restrictions to include a working capital contribution. This will be a 300.00 fee paid by the buyer whenever a home sells. Our financial situation is good; surplus at the end of every year and 25,000.00 in reserves for maintenance/replacement of common areas. Rumor has it that the funds collected will go towards adding a fountain to our pond. Can they do something like this? Thank you.

You have to read the by-laws of your HOA very carefully. If they give the board the right to make this type of amendment then yes, they can do it. I have the feeling that the by-laws will require that at least 2/3 of the homeowners have to ratify it but you have to check the by-laws to make sure.

I would double check your governing documents. That "fee" as you call it may result in additional taxes, depending on your states tax laws. I would advise the Board contact an accountant. Since it is a "fee" there might be limitiations during the transfer of the property according to your state laws. Hopefully the required number of votes is provided to amend the CC&R's otherwise they cannot amend them. If you and the other members do not agree on this then simply vote against it.