It seems you missed something.
Normally decisions such as this are made at committee or general meetings. These meetings need to have an agenda and be notified to all owners.
Did you not get notified?
Secondly, it’s not unusual when there are large expenditures for the OC to take out a loan if they do not have the funds available. The loan is paid off over time by your levies. Individual owners do not have an option to pay their share upfront. It’s one in, all in.
Loans are also taken out in consideration that not all owners can stump up a large sum at the outset.
( There is a new loan product recently available that allows individual owners to pay their share up front. But it can’t be taken after another loan is already established)