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(3) QUORUM.—Four members of the Board shall
constitute a quorum for the conduct of business by the
Board.
(4) ORGANIZATION
AND
COMPENSATION.—The
Board shall organize itself in such a manner as it
deems most appropriate to effectively carry out the
authorized activities of the Trust. Board members
shall serve without pay, but may be reimbursed for
the actual and necessary travel and subsistence ex-
penses incurred by them in the performance of the du-
ties of the Trust.
(5) LIABILITY OF DIRECTORS.—Members of the
Board of Directors shall not be considered Federal
employees by virtue of their membership on the
Board, except for purposes of the Federal Tort Claims
Act and the Ethics in Government Act, and the provi-
sions of chapter 11 of title 18, United States Code.
(6) MEETINGS.—The Board shall meet at least
three times per year in San Francisco and at least
two of those meetings shall be open to the public.
Upon a majority vote, the Board may close any other
meetings to the public. The Board shall establish pro-
cedures for providing public information and oppor-
tunities for public comment regarding policy, plan-
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ning, and design issues through the Golden Gate Na-
tional Recreation Area Advisory Commission.
(7) STAFF.—The Trust is authorized to appoint
and fix the compensation and duties of an executive
director and such other officers and employees as it
deems necessary without regard to the provisions of
title 5, United States Code, governing appointments
in the competitive service, and may pay them without
regard to the provisions of chapter 51, and subchapter
III of chapter 53, title 5, United States Code, relating
to classification and General Schedule pay rates.
(8) NECESSARY POWERS.—The Trust shall have
all necessary and proper powers for the exercise of the
authorities vested in it.
(9) TAXES.—The Trust and all properties ad-
ministered by the Trust shall be exempt from all taxes
and special assessments of every kind by the State of
California, and its political subdivisions, including
the City and County of San Francisco.
(10) 
GOVERNMENT
CORPORATION.—(A) 
The
Trust shall be treated as a wholly owned Government
corporation subject to chapter 91 of title 31, United
States Code (commonly referred to as the Government
Corporation Control Act). Financial statements of the
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Trust shall be audited annually in accordance with
section 9105 of title 31 of the United States Code.
(B) At the end of each calendar year, the
Trust shall submit to the Committee on Energy
and Natural Resources of the United States Sen-
ate and the Committee on Resources of the House
of Representatives a comprehensive and detailed
report of its operations, activities, and accom-
plishments for the prior fiscal year. The report
also shall include a section that describes in gen-
eral terms the Trust’s goals for the current fiscal
year.
SEC. 104. DUTIES AND AUTHORITIES OF THE TRUST.
(a) OVERALL REQUIREMENTS OF THE TRUST.—The
Trust shall manage the leasing, maintenance, rehabilita-
tion, repair and improvement of property within the Pre-
sidio under its administrative jurisdiction using the au-
thorities provided in this section, which shall be exercised
in accordance with the purposes set forth in section 1 of
the Act entitled ‘‘An Act to establish the Golden Gate Na-
tional Recreation Area in the State of California, and for
other purposes’’, approved October 27, 1972 (Public Law
92–589; 86 Stat. 1299; 16 U.S.C. 460bb), and in accordance
with the general objectives of the General Management Plan
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(hereinafter referred to as the ‘‘management plan’’) ap-
proved for the Presidio.
(b) The Trust may participate in the development of
programs and activities at the properties transferred to the
Trust. The Trust shall have the authority to negotiate and
enter into such agreements, leases, contracts and other ar-
rangements with any person, firm, association, organiza-
tion, corporation or governmental entity, including, with-
out limitation, entities of Federal, State and local govern-
ments as are necessary and appropriate to finance and
carry out its authorized activities. Any such agreement may
be entered into without regard to section 321 of the Act of
June 30, 1932 (40 U.S.C. 303b). The Trust shall establish
procedures for lease agreements and other agreements for
use and occupancy of Presidio facilities, including a re-
quirement that in entering into such agreements the Trust
shall obtain reasonable competition. The Trust may not dis-
pose of or convey fee title to any real property transferred
to it under this title. Federal laws and regulations govern-
ing procurement by Federal agencies shall not apply to the
Trust. The Trust, in consultation with the Administrator
of Federal Procurement Policy, shall establish and promul-
gate procedures applicable to the Trust’s procurement of
goods and services including, but not limited to, the award
of contracts on the basis of contractor qualifications, price,