Sec. 11. The financing of:
(1) improvements to a county auditorium or auditorium renovation resulting in a new convention center and related parking facilities; and
(2) the acquisition, construction, and equipping of an arena and other facilities that serve or support the arena activities;
serves a public purpose and is of benefit to the general welfare of the county by enhancing cultural activities and improving the quality of life in the county and encouraging investment, economic growth, and diversity.