Under 100 would be tough, but very close to 100 can get you a decent rod/reel. I spin fish for coho a lot and for reels, the shimano sienna 4000 FD (dont get the RD / rear drag), are great, rinse 'em every time, oil it if it squeaks and just toss it if it breaks. Under 40 bucks, it owes you nothing if you get 2-3 years out of it, one of mine is 3 yrs old and still works fine. Keep it rinsed, keep it oiled, easy.
For rods, the standard 10' convergence spinning is about 100 buck, tons of guys have these. I did see however a nice lower-end lamiglas (X-1 i believe) which is like 90 bucks currently at wholesale sports, its a 9'6 which is ok for most of the fishing you will do. You may want to go longer eventually if you buy some nicer stuff. I use a 10' 6" and love the distance I get with it.
Line, don't go too heavy. I usually run w/ 10lb mainline, red box trilene XL (made for spinning reels). Best stuff around for the price, I would recommend stretching it a little after you first put it on, tie it to something walk back a few hundred feet and pull on it a few times stretching the kinks out of it. Some of it has sat on the spool a long time, it helps w/ coils. Fill the spool up properly as well, this also helps with distance.
Some say 10lb is too light, it really isn't. I have landed springs to 20 lbs on it from the beach just fine, so for coho/pinks etc. it is no problem. Some guys go lighter even, 10lb is the sweet spot for me I have found. The lighter line will give you that distance casting, and some days being able to air out a 1/2 oz spoon 150+ ft is a huge advantage. The fish move fast, and the long cast can help you get more shots at crusing fish. When the fish are closing and holding, the long cast also this makes sure your lure lands way past the fish, not on top of them. This helps the fish hold in place longer and not notice you are there, which really improves your numbers during a season.
Good luck!