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VI. GOVERNANCE A. Owners'Association The Pleasanton City Council, through adoption of this Management District Plan, has the right, pursuant to Streets and Highways Code §36651, to identify the body that shall implement the proposed program, which shall be the Owners'Association of the TVTMD as defined in Streets and Highways Code §36614.5. The City Council has determined that the Tri-Valley Convention and Visitors Bureau (also known as Visit TriValley) will serve as the Owner's Association for the TVTMD. More than one-half of the members of the Visit TriValley Board of Directors shall be representatives of assessed lodging businesses. B. Brown Act and California Public Records Act Compliance An Owners' Association is a private entity and may not be considered a public entity for any purpose, nor may its board members or staff be considered to be public officials for,any purpose. The Owners' Association is, however, subject to government regulations relating'to transparency, namely the Ralph M. Brown Act and the California Public Records Act. These regulations are designed to promote public accountability. The Owners'Association is considered a legislative body under the Ralph M. Brown Act (Government Code §54950 et seq.): Thus, meetings of the VTV I board and certain committees must be held in compliance with the public notice and other requirements of the Brown Act. The Owner's Association is also subject to the record keeping and disclosure requirements of the California Public Records Act. Accordingly, the Owner's Association shall publicly report any action taken and the vote or abstention on that action of each member present for the action. C. Annual Report VTV shall present an annual report at the end of each year of operation to the Pleasanton City Council pursuant to Streets and Highways Code§36650 (see Appendix 1). The annual report will include: • Any proposed changes in the boundaries of the tourism improvement district or in any benefit zones or classification of businesses within the district. • The improvements and activities to be provided for that fiscal year. • An estimate of the cost of providing the improvements and the activities for that fiscal year. • The method arid basis of levying the assessment in sufficient detail to allow each business owner to estimate the amount of the assessment to be levied against his or her business for that fiscal year. • The amount of any surplus or deficit revenues to be carried over from a previous fiscal year. • The amount of any contributions to be made from sources other than assessments levied. Management District Plan 12 December 15, 2014