The agreement shall recognize that the zone does terminate by operation of law (is Terminated-by-Statute) under ORS 285C.245 (Termination)(6) after June 30 immediately following 10 years since the effective date of its beginning, and the term of the agreement shall be for at least that long.
It may occur sooner due to the effective dissolution of the agreement by mutual consent of its parties. In the event of such dissolution, any business firm shall enjoy the same protection under relevant provisions of law and this chapter of administrative rules for location in a terminated enterprise zone.
The Tribe and city, port or county may create a new RPRZ pursuant to or in replacement of a terminated one, based on a newly executed co-sponsorship agreement consistent with this rule.
There is no particular limit on the number of RPRZs that may exist statewide, or that any city, port, county or Tribe may cosponsor. A city, port or county cosponsor of an RPRZ may also sponsor another enterprise zone, and as originally cosponsored, an RPRZ may contain area of an existing regular enterprise zone (other than an RENZ or another RPRZ), which shall remove or exclude the RPRZ area with the earlier of its next boundary change or re-designation.