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<br />RAISED THEREAFTER FROM THE CONTINUATION OF THE USE TAX OF <br />3.0 PERCENT UPON THE PRIVILEGE OF USING OR CONSUMING WITHIN <br />THE CITY CONSTRUCTION AND BUILDING MATERIALS PURCHASED <br />AT RETAIL FOR USE IN CONNECTION WITH RESIDENTIAL <br />CONSTRUCTION OR RESIDENTIAL BUILDING PROJECTS, SUCH USE <br />TAX TO BEGIN JANUARY 1,2004 AND EXPIRE TEN YEARS AFTER SUCH <br />DATE, WITH THE NET PROCEEDS OF SUCH USE TAX TO BE <br />COLLECTED, RETAINED AND SPENT EXCLUSIVELY FOR PURPOSES <br />DETERMINED BY THE CITY COUNCIL TO FURTHER THE ACQUISITION, <br />CONSTRUCTION, IMPROVEMENT, OR EXPANSION OF CAPITAL <br />FACILITIES OWNED BY THE CITY OR THE BOULDER VALLEY SCHOOL <br />DISTRICT RE-2, LOCATED WITHIN THE CITY, AND BENEFITTING <br />YOUTH WITHIN THE COMMUNITY; AND SHALL THE CITY BE <br />PERMITTED TO COLLECT, RETAIN AND EXPEND ALL REVENUES <br />DERIVED FROM SUCH USE TAX AS A VOTER-APPROVED REVENUE <br />CHANGE AND AN EXCEPTION TO LIMITS WHICH WOULD OTHERWISE <br />APPLY UNDER ARTICLE X, SECTION 20 OF THE COLORADO <br />CONSTITUTION OR ANY OTHER LAW? <br /> <br />I- <br />YES W <br />NO ~ <br />\J <br />Section 4. The provisions of this ordinance shall take effect, following passage and < <br />approval thereof as provided in Section 3, on January I, 2004. a.. <br /> <br />Section 5. If any portion of this ordinance is held to be invalid for any reason, such <br />decision shall not affect the validity of the remaining portions of this ordinance. The City Council <br />and the registered voters of the City hereby declare that they would have passed and approved this <br />ordinance and each part hereof irrespective of the fact that anyone part be declared invalid. In <br />particular, if revenues from the use tax upon the privilege of using or consuming within the City <br />construction and building materials purchased at retail for use in connection with residential <br />construction or residential building projects may not be spent for the purposes described in Section <br />3.20.610.A.l, such tax shall remain valid but the revenues therefrom shall be deposited in such <br />funds or accounts as may be designated by the City Council and used for purposes meeting as <br />nearly as possible the purposes described in said Section, as determined by City Council. <br /> <br />Section 6. The repeal or modification of any provision of the Municipal Code of the <br />City of Louisville by this ordinance shall not release, extinguish, alter, modify, or change in whole <br />or in part any penalty, forfeiture, or liability, either civil or criminal, which shall have been incurred <br />under such provision, and each provision shall be treated and held as still remaining in force for the <br />purpose of sustaining any and all proper actions, suits, proceedings, and prosecutions for the <br />enforcement of the penalty, forfeiture, or liability, as well as for the purpose of sustaining any <br />judgment, decree, or order which can or may be rendered, entered, or made in such actions, suits, <br /> <br />4 <br />