PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3937 (1) residents of the area in which the new town demonstration area under the plan developed by the board is located; (2) owners of business in such area; (3) leaders or participants in community groups in such area; and (4) representatives of financial institutions located or having offices in such area. (c) ORGANIZATION.—^A governing board may organize itself and conduct business in the manner that the board determines is appropriate to carry out the new town development demonstration under this title. SEC. 1108. REPORTS. Each governing board carrying out a new town development demonstration under this title shall submit to the Congress the following information: (1) NEW TOWN PLAN. —Upon approval of the new town plan of the governing board under section 1102(d), a copy of the approved plan. (2) ANNUAL REPORTS.— For the 5-year period beginning upon the approval of the new town plan, annual reports for each 12-month period during such 5-year period, which shall be submitted within 3 months after the expiration of the 12- month period. Each report shall include a description of any activities during such period to carry out the demonstration program of the governing board, the use during such period of any assistance provided under this title, and any amendments under section 1102(d)(4) to the new town plan approved during such period. SEC. 1109. DEFINrnONS. For purposes of this title: (1) DEMONSTRATION PROGRAM.— The terms "demonstration program" and "program" mean a new town development demonstration program receiving assistance under this title, which is carried out within a new town demonstration area by a governing board. (2) (^VERNING BOARD. —The term "governing board" means a board established under section 1107. (3) NEW TOWN DEMONSTRATION AREA.— The term "new town demonstration area" means the area defined in a new town plan in which the new town development demonstration under the plan is to be carried out. (4) NEW TOWN PLAN. —The terms "new town plan" and "plan" mean a plan under section 1102 developed by a governing board. (5) UNIT OF GENERAL LOCAL GOVERNMENT.The term "unit of general local government" means any city, county, town, township, parish, village, or other general piupose political subdivision of the State of California.