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<br />other nonresidential construction or building <br />projects,; <br /> <br />2. FOR A NINE-YEAR PERIOD, UPON THE PRIVILEGE OF USING <br />OR CONSUMING WITHIN THE CITY CONSTRUCTION AND <br />BUILDING MATERIALS PURCHASED AT RETAIL FOR USE IN <br />CONNECTION WITH RESIDENTIAL CONSTRUCTION OR <br />BUILDING PROJECTS; AND <br /> <br />3. UPON and for the privilege of storing, using or <br />consuming within the city any motor and other <br />vehicles, purchased at retail on which registration <br />is required,. <br /> <br />B. SUCH SttCh use tax SHALL ~ be in the amount of <br />three percent (3%) of the retail cost thereof (the "use <br />tax"), EXCEPT THAT, FOR A TEN YEAR PERIOD BEGINNING ON <br />JANUARY 1, 1994, THE AMOUNT SHALL BE THREE AND THREE- <br />EIGHTHS PERCENT (3-3/8%) OF THE RETAIL COST THEREOF, IN <br />ACCORDANCE WITH ORDINANCE NO. 1119 (SERIES 1993), <br />APPROVED BY THE REGISTERED ELECTORS OF THE CITY ON <br />NOVEMBER 2, 1993. <br /> <br />C. The use tax shall be collected in accordance <br />with the schedules set forth in the rules and regulations <br />promulgated by the Department of Revenue AND IN <br />ACCORDANCE WITH ANY RULES AND REGULATIONS PROMULGATED BY <br />THE CITY COUNCIL. The revenues derived from the use tax <br />shall be deposited AS FOLLOWS:to the ~ity's general fund <br />and used for any nroni~ipal purpose. <br /> <br />1. REVENUES FROM THE THREE PERCENT (3%) USE TAX UPON <br />THE PRIVILEGE OF USING OR CONSUMING WITHIN THE CITY <br />CONSTRUCTION AND BUILDING MATERIALS PURCHASED AT <br />RETAIL FOR USE IN CONNECTION WITH RESIDENTIAL <br />CONSTRUCTION OR RESIDENTIAL BUILDING PROJECTS SHALL <br />BE DEPOSITED IN A SPECIAL FUND WHICH SHALL BE SPENT <br />FOR PURPOSES DETERMINED BY THE CITY COUNCIL TO <br />FURTHER THE ACQUISITION, IMPROVEMENT, OR EXPANSION <br />OF THE EDUCATIONAL FACILITIES OF THE BOULDER VALLEY <br />SCHOOL DISTRICT RE-2 SERVING THE CITIZENS OF <br />LOUISVILLE AND THEIR SCHOOL-AGE CHILDREN, WHICH <br />PURPOSES MAY INCLUDE BUT SHALL NOT BE LIMITED TO <br />THE ACQUISITION OF LAND WITHIN THE BOUNDARIES OF <br />THE CITY, THE SITE OF WHICH SHALL BE ACCEPTABLE TO <br />THE CITY COUNCIL AND TO THE BOARD OF EDUCATION OF <br />THE SCHOOL DISTRICT, AND UPON WHICH SHALL BE <br />CONSTRUCTED A NEW HIGH SCHOOL. <br /> <br />2. REVENUES FROM THE THREE-EIGHTHS PERCENT (3/8%) USE <br />TAX IMPOSED PURSUANT TO ORDINANCE NO. 1119 (SERIES <br />1993), UPON THE PRIVILEGE OF USING OR CONSUMING <br /> <br />3 <br />