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Ownership Facts
There are three categories of ownership in RSC.
The first step in becoming an owner of RSC is to fill out an application. In the application you will be asked for spouse information, children’s names and occupations. A $50.00 non-refundable application fee must accompany the application (this is NOT applied toward ownership fees).
Because there are a fixed number of owners, your application will be placed at the bottom of a waiting list. As existing owners leave, your name will be moved up the waiting list. When your name is at the top of the waiting list, you will be offered an ownership. Currently, the waiting time to be offered membership is 2 to 3 years.
Plan 1: Year 1 -- $1000 : Year 2 -- $0 (no interest charge)
The money is retained by RSC as long as you are an owner in good standing. When you resign, the original bond principle is refunded to you (these bonds do not pay interest to owners). Technically, your bond cannot be refunded until a new owner replaces you. In practice, bonds are being refunded quickly because the current long applicant waiting list provides a continuous stream of new owners.
The most common types of work that qualify for the rebate are preparing the pool grounds for opening and closing the season, and participating on the social committee. The Social Committee sponsors Hot Dog Nights, Teen & Preteen Nights, and Steak & Lobster Night.
Other work activities may qualify toward the work bond rebate. Please speak to an RSC Board Member or the Pool Manager to discuss such options.
Rev. Oct 2008
Types of Owners
Application Process
Ownership Fees
There are two types of Ownership plans:
Fee Structure
Ownership Type
Annual Maintenance Fee
Ownership Bond
Annual Work Bond
Family
$575
$1000
$100
Couples
$525
None
$100
Singles
$275
None
$100
How the Bonds Work
Ownership Bond (applies only to families)
All family ownerships require the purchase of a $1000 bond. The bond can be paid in a lump sum or as two payments, as described below:
Plan 2: Year 1 -- $525 : Year 2 -- $525 (includes non-refundable interest charge)
Annual Work Bond
All owners must pay annually a $100 work bond. This fee is subject to a full rebate if a mowner performs defined types of pool-related work activities. Those people who choose not to perform such work activities will forfeit their work bond for the year. This money is used to hire people for maintenance work that is not performed by pool owners.
Resigning From RSC
When you resign from RSC, first notify the Ownership Chairperson at: ownership@roycefield.org. You then need to write a letter indicating when you will be resigning. Mail the letter to the RSC Treasurer at: Roycefield Swim Club, PO Box 5874, Hillsborough, NJ 08844. If you are in the process of moving, please include your new address so that the Ownership Bond can be sent to the correct place.