ing procurement by Federal agencies shall apply to
the Trust.
(C) The Secretary may authorize the Trust, in
exercising authority under section 303(g) of the
Federal Property and Administrative Services Act of
1949 (40 U.S.C. 253(g)) relating to simplified pur-
chase procedures, to use as the dollar limit of each
purchase or contract under this subsection an
amount which does not exceed $500,000.
(D) The Secretary may authorized the Trust, in
carrying out the requirement of section 18 of the Of-
fice of Federal Procurement Policy Act (41 U.S.C
416) to furnish the Secretary of Commerce for pub-
lication notices of proposed procurement actions, to
use as the applicable dollar threshold for each ex-
pected procurement an amount which does not ex-
ceed $1,000,000.
(E) The Trust shall establish procedures for
lease agreements and other agreements for use and
occupancy of Presidio facilities, including a require-
ment that in entering into such agreements the
Trust shall obtain such competition as is practicable
in the circumstances.
(3) 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 sub-
chapter III of chapter 53, title 5, United States
Code (relating to classification and General Schedule
pay rates).
(4) To augment or encourage the use of non-
Federal funds to finance capital improvements on
Presidio properties transferred to its jurisdiction, the
Trust, in addition to its other authorities, shall have
the following authorities:
(A) The authority to guarantee any lender
against loss of principal or interest on any con-
struction loan, provided that (i) the terms of
the guarantee are approved by the Secretary of
the Treasury, (ii) adequate guarantee authority
is provided in appropriations Acts, and (iii)
such guarantees are structured so as to mini-
mize potential cost to the Federal Government.
(B) The authority, subject to available ap-
propriations, to make loans to the occupants of
property managed by the Trust for the preser-
vation, restoration, maintenance, or repair of
such property.
(C) The authority to issue obligations to
the Secretary of the Treasury, but only if the
Secretary of the Treasury agrees to purchase
such obligations after determining that the
projects to be funded from the proceeds thereof
are credit worthy and that a repayment sched-
ule is established. The Secretary of the Treas-
ury is authorized to use as a public debt trans-
action the proceeds from the sale of any securi-
ties issued under chapter 31 of title 31, United
States Code, and the purposes for which securi-
ties may be issued under such chapter are ex-
tended to include any purchase of such notes or
obligations acquired by the Secretary of the
Treasury under this subsection. The aggregate
amount of obligations issued under this sub-
paragraph which are outstanding at any one
time may not exceed $150,000,000. Obligations
issued under this subparagraph shall be in such
forms and denominations, bearing such matu-
rities, and subject to such terms and conditions,
as may be prescribed by the Secretary of the
Treasury, and shall bear interest at a rate de-
termined by the Secretary of the Treasury, tak-
ing into consideration current market yields on
outstanding marketable obligations of the
United States of comparable maturities. No
funds appropriated to the Trust may be used
for repayment of principal or interest on, or re-
demption of, obligations issued under this para-
graph. All obligations purchased under author-
ity of this subparagraph must be authorized in
advance in appropriations Acts.
(D) The Trust shall be deemed to be a
public agency for the purpose of entering into
joint exercise of powers agreements pursuant to
California government code section 6500 and
following.
(5) The Trust may solicit and accept donations
of funds, property, supplies, or services from individ-
uals, foundations, corporations, and other private or
public entities for the purpose of carrying out its du-
ties. The Trust shall maintain philanthropic liaison
with the Golden Gate National Park Association, the
fund raising association for the Golden Gate Na-
tional Recreation Area.
(6) All proceeds received by the Trust shall be
retained by the Trust without further appropriation