The council finds that the city of North Bend, city of Coos Bay and Coos County have areas within their boundaries designated by the state of Oregon as an enterprise zone under the Oregon Enterprise Zone Act, that such local governmental units, by intergovernmental agreement, have undertaken jointly to administer and market land within such zone for the location of business enterprises, that such zone has been found by said local governmental units and by the state of Oregon to have those qualities and characteristics which make the area suitable for an enterprise zone under the Oregon law, and that such local governmental units have agreed, in compliance with the provisions of said Act, to provide local tax incentives and local regulatory flexibility to qualified businesses and employers to encourage development, growth and expansion of employment, business, industry and commerce within said enterprise zone. (Ord. 1711 § 1, 1986)