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and bearing interest at rates determined by the Sec-
retary of the Treasury, taking into consideration cur-
rent market yields on outstanding marketable obliga-
tions of the United States of comparable maturity.
(14) The Trust may enter into and perform such
contracts and other transactions with any person,
firm, association, organization, corporation or gov-
ernmental entity as may be necessary or appropriate
to the conduct of activities authorized under this Act.
(15) The Trust may execute all instruments nec-
essary or appropriate in the exercise of any of its
functions under this Act, and may delegate to the Ex-
ecutive Director such of its powers and responsibil-
ities as it deems appropriate and useful for the ad-
ministration of the Trust.
(16) The Trust may obtain by purchase, rental,
donation, or otherwise, such goods and services as
may be needed to carry out its duties. In the event
of the termination of the Trust, all property and un-
expended funds shall be transferred to the Department
of the Interior, except that such funds shall only be
expended for the purposes of this Act.
(17) The Trust shall procure insurance against
any loss in connection with the properties managed
by it as is reasonable and customary; and shall pro-
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cure such additional insurance for losses arising out
of any of its authorized activities as is reasonable and
customary.
(18) The Trust may sue and be sued in its name.
All litigation arising out of the activities of the Trust
shall be conducted by the Attorney General; the Trust
may retain private attorneys to provide advice and
counsel on transactional issues.
(19) The Trust may adopt, amend, and repeal
bylaws, rules, and regulations governing the manner
in which its business may be conducted and the pow-
ers vested in it may be exercised.
(20) The Trust shall have perpetual succession.
(21) The Trust shall have an official seal selected
by the Board which shall be judicially noticed.
(22) The Trust shall have all necessary and
proper powers for the exercise of the authorities in-
vested in it.
(23) For purposes of complying with section 106
of the National Historic Preservation Act, the Trust
may work directly with the National Park Service,
the State Historic Preservation Office, and the Advi-
sory Council on Historic Preservation and enter into
programmatic agreements, where appropriate.
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(i) USE OF FEDERAL PERSONNEL, FACILITIES, AND
SERVICES.—The Secretary and the heads of other Federal
departments and agencies may provide personnel, facilities,
and other administrative services to the Trust to assist it
in carrying out its duties under this Act. Furthermore, the
Secretary and the heads of other Federal departments and
agencies may loan or donate to the Trust excess or surplus
personal property deemed necessary for the management of
the Presidio.
(j) TAXES.—Since the exercise of the powers granted
by this section will be in all respects for the benefit of the
people, the Trust is hereby declared to be devoted to an es-
sential public and governmental function and purpose and
shall be exempt from all taxes and special assessments of
every kind of the United States, the State of California, and
its political subdivisions, including the City and County
of San Francisco.
(k) VOLUNTEERS.—The Secretary may accept, without
regard to the Civil Service classification laws, rules, or reg-
ulations, the services of the Trust, the Board, and the offi-
cers, and employees and consultants of the Board, without
compensation from the Department of the Interior, as vol-
unteers in the performance of the functions authorized here-
in, in the manner provided for under the Volunteers in the
Parks Act of 1969 (16 U.S.C. 18g et seq.).
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(l) SAVINGS CLAUSE.—Nothing in this section shall
preclude the Secretary from exercising any of his or her
lawful powers within the Presidio.
(m) AFFIRMATIVE ACTION.—The Trust shall ensure
that affirmative steps are taken, consistent with other Fed-
eral law, to afford equal access and equal opportunities for
leases, concessions, contracts, subcontracts, and other con-
tracting and employment opportunities to minorities,
women, and other socially and economically disadvantaged
individuals, commensurate with local availability.
(n) FINANCIAL RECORDS.—The financial records of
the Trust shall be available for inspection by the Secretary,
the Inspector General of the Department of the Interior, and
the Comptroller General at any time and shall be audited
by a reputable firm of certified public accountants not less
frequently than once each year. Such audit shall be made
available to the Secretary and the Congress. The Trust shall
be subject to the provisions of the Government Corporation
Control Act (31 U.S.C. 9109 et seq.), including the budget
and credit provisions, except that the Trust shall submit
its budget through and in consultation with the Secretary.
(o) LEASING.—In managing and leasing the properties
transferred to it, the Trust should consider the extent to
which prospective tenants maximize the contribution to the
implementation of the General Management Plan and to
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the generation of revenues to offset costs of the Presidio. If
the Trust has difficulty securing a tenant for a property
under its control, it may enter into negotiation with a pro-
spective tenant whose proposed use may be inconsistent
with the approved General Management Plan. The Trust
may not enter into a lease which is inconsistent with the
approved General Management Plan unless the Secretary
makes a finding that the proposed lease will not have a
detrimental effect on the natural, historical, scenic and rec-
reational values for which the Golden Gate National Recre-
ation Area was established. For major leasing actions, the
Trust shall submit the proposed lease to the Secretary of
the Interior or his designee for a period of 10 working days
for his review of the lease for consistency with the General
Management Plan. Before executing the lease, the Trust
shall consider issues of consistency raised by the Secretary
or his designee.
(p) APPLICATION OF OTHER LAWS.—(1) All general
penal statutes relating to the larceny, embezzlement, or con-
version of public moneys or property of the United States
shall apply to the moneys and property of the Trust.
(2) With respect to the public or Federal contracts for
the acquisition of goods and services, the Trust shall be ex-
empt from the following laws and attendant regulations: