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5.36.060 Benefit. The City Council finds that the lodging businesses within the district will be benefitted by the improvements and activities funded by the assessment levied. 5.36.070 Power to contract. The council may contract from time to time with a nonprofit tax exempt corporation, the purpose of which shall be to carry out the purposes for which the assessments are levied and provided in this chapter. In the event such agreement is made, it shall provide that the corporation shall present a budget of proposed expenditures and purposes to the city manager for investigation and report to the council upon the advisability and feasibility of the proposed expenditures and improvements. Upon approval of the budget requests, the council shall allocate and direct payment of such amounts as it shall determine to the contracting agency by the city finance office. The Tri- Valley Convention Visitors Bureau shall be designated as the contracting agency. 5.36.080 Collection of assessments. Each city shall be responsible for collecting the assessments from the lodging businesses subject to the assessment within that city. The assessments collected shall be transmitted to the city of Pleasanton which shall administer the funds collected. In Pleasanton the assessments provided by this chapter shall be collected at the time and in the manner and with the same penalties as is provided in this code for the collection of transient occupancy taxes. 5.36.090 Bonds. Bonds shall not be issued. 5.36.100 Prior Action. A Resolution of Intention to Renew the Tri Valley Tourism Business Improvement District, Resolution Number 10 -352, was adopted by the City Council on April 20, 2010. A noticed public meeting was held on June 1, 2010, and a noticed public hearing was held on June 15, 2010. The public meeting and public hearing took place in the Pleasanton City Council Chambers, located at 200 Old Bernal Avenue, Pleasanton, CA 94566. It has been determined that no majority protest has been received.