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(continued) ctivity.
(b) No authority is established by this chapter to supersede
current state agency statutory authority.

36979. For purposes of this chapter, the following terms shall have
the following meanings:
(a) "Ocean resources" means all living and nonliving resources
found in the Pacific Ocean and its contiguous saline or brackish bays
and estuaries.
(b) "Trust" means the California Ocean Trust authorized by Section
36990.
(c) "Trustees" means the trustees of the trust.

36980. The Secretary of the Resources Agency shall report to the
Legislature on or before September 1, 2002, on the steps taken to
ensure adequate coordination of ocean resource management science
among state, regional, and federal agencies and marine science
institutions. The purposes of this coordination shall be to provide
adequate information to marine science institutions about the
information needs of agencies and to maximize the usefulness of
ongoing and proposed ocean science projects to ocean resource
management agencies.

36990. (a) The Secretary of the Resources Agency may enter into an
agreement with an existing nonprofit corporation with broad
experience as the trustee of public funds, court-ordered mitigation
funds, or other funds used to assist public agencies in carrying out
their responsibilities to establish a nongovernmental trust, to be
known as the California Ocean Trust.
(b) The purposes of the trust shall be all of the following:
(1) To seek funds for California ocean resource science projects,
emphasizing the development of new funding sources.
(2) To fund California ocean resource science projects that help
fulfill the missions of the state's ocean resource management
agencies.
(3) To encourage coordinated, multiagency, multiinstitution
approaches to ocean resource science.
(4) To encourage graduate education programs in
management-oriented ocean resource science in public and private
universities and colleges in California.
(5) To encourage new technologies that reduce the cost, increase
the amount, or improve the quality of ocean resource management
information.
(6) To promote more effective coordination of California ocean
resource science useful to management agencies.



36991. The trust shall be subject to the Nonprofit Public Benefit
Corporation Law, Part 2 (commencing with Section 5110) of Division 2
of Title 1 of the Corporations Code. To the extent of any conflict
between this chapter and the Nonprofit Public Benefit Corporation
Law, this division shall prevail.



36992. The trust shall have 10 trustees, who shall be appointed as
follows:
(a) The Secretary of the Resources Agency shall appoint the
following trustees, who shall serve at the pleasure of the secretary:

(1) One trustee who shall represent the Resources Agency and the
departments and commissions within the Resources Agency with ocean
resource management responsibilities and who may be an employee of
the state.
(2) Three trustees from a list of candidates submitted jointly by
the President of the University of California and the Chancellor of
the California State University, who shall be chosen for their broad
knowledge of ocean resource management and science. At least one of
the three trustees shall not be an employee or on the faculty of the
University of California or California State University.
(3) Two trustees who shall be representatives of the public
selected primarily for their experience as trustees or directors of
for-profit or nonprofit corporations.
(4) Two trustees from nominees submitted by coast and ocean
interest groups including, but not limited to, interest groups
representing sport fishing, commercial fishing, coast and ocean
recreation and tourism, marine conservation, and ocean-dependent
industries. In making the appointments pursuant to this paragraph,
the factors to be considered shall include the nominees'
acceptability to a range of coast and ocean interests, and their
experience as trustees or directors of for profit or nonprofit
corporations.
(b) The Secretary for Environmental Protection shall appoint one
trustee, who shall serve at the pleasure of the secretary, and who
shall have broad knowledge of water quality concerns as they relate
to ocean resource management.
(c) The Director of Finance shall appoint one trustee, who shall
serve at the pleasure of the director.
(d) To the extent feasible, the trustees appointed to the trust
pursuant to subdivisions (a), (b), and (c) shall balance, and reflect
the breadth of, public interests concerned with ocean resources.



36993. (a) Any person who might reasonably be expected at some time
to derive a direct financial benefit from the activities of the
trust shall be ineligible to serve as a trustee.
(b) Subject to the approval of the Secretary for Resources, the
trustees shall adopt definitions and rules for the trust with respect
to indirect conflicts of interest.
(c) All trustees shall serve without compensation. However,
trustees may be reimbursed by the trust for reasonable expenses.




36994. (a) The trust shall do all of the following:
(1) Expend funds only for the purposes of the trust enumerated in
Section 36990 and as further restricted by the sources of the trust's
funding.
(2) Make written findings for funds committed for projects,
indicating how the projects further the purposes of the trust
enumerated in Section 36990.
(3) Require the recipient of funds to keep records necessary to
disclose whether the funds were used for the purposes specified by
the trust.
(4) Invest and manage the funds of the trust in accordance with
the Nonprofit Public Benefit Corporation Law (Part 2 (commencing with
Section 5110) of Division 2 of Title 1 of the Corporations Code).
(5) The trust shall report in writing annually to the Legislature
and to the Chair of the Joint Committee on Fisheries and Aquaculture.
The annual report shall include the most recent financial audit of
the trust and the written findings required pursuant to paragraph
(2). The activities of the trust for any financial year may be
audited by the Bureau of State Audits.
(b) The trustees shall ensure that the trust, individual trustees
acting on behalf of the trust and employees or agents of the trust do
not engage in lobbying or contribute to, or otherwise support, any
political party, candidate, or ballot issue.
(c) This chapter does not expand the authority of the trust to
contract for professional services beyond the authority to contract
for those services in Section 19130 of the Government Code.




36995. (a) The trust may seek the assistance of advisers, form
advisory committees, or otherwise consult with knowledgeable
individuals in regard to the business of the trust.
(b) Advisers shall serve without compensation. However, advisers
may be reimbursed by the trust for reasonable expenses.