§ 2. Same—Use of proceeds.

Any bonds issued pursuant hereto shall be delivered to the purchaser or purchasers thereof by the city treasurer and the proceeds thereof shall be placed in a special fund in the city treasury to be paid out from time to time for the purpose of acquiring a municipal auditorium for said city, including the payment of the cost of furnishing and equipping the auditorium and all incidental costs and expenses properly incurred in connection with the acquisition of the auditorium and the authorization and issuance of the bonds. The auditorium may be acquired through purchase, gift, condemnation or construction or any combination thereof, and the city council is authorized to acquire as part of the project any necessary improved or unimproved real estate. Such auditorium shall not be available to any user other than the City of Nashville without the payment of reasonable and proper compensation therefor to the city.