(a) There shall be exempt from taxation under the provisions of this Article all of the tangible personal property and services which are exempt under the provisions of "The Emergency Retail Sales Tax Act of 1935," as set forth in Article 26, Title 39, C.R.S., which exemptions are incorporated herein by this reference, including exemptions allowed therein for purchases of food stuffs, machinery or machine tools, also electricity, coal, gas, fuel oil and coke used for residential purposes.

(b) All sales of tangible personal property on which a specific ownership tax has been paid or is payable shall be exempt from sales tax when such sales meet both of the following conditions:

(c) No sales tax shall apply to the sale of construction and building materials, as the term is used in Section 29-2-109, C.R.S., if such materials are picked up by the purchaser and if the purchaser of such materials presents to the retailer a building permit or other documentation evidencing that a local use tax has been paid or is required to be paid.

(d) No sales tax shall apply to the sale of tangible personal property at retail or the furnishing of services if the transaction was previously subject to a sales or use tax lawfully imposed on the purchaser or user by another statutory or home rule city and county, city or town equal to or in excess of that sought to be imposed by the Town, and a credit shall be granted against the sales tax imposed by the Town with respect to such transaction equal in amount to the lawfully imposed local sales or use tax previously paid by the purchaser or user. The amount of the credit shall not exceed the sales tax imposed herein. (Ord. 272 §4, 1977)