Is it true?

When I found out I was going to be moving to Managua, I started reading about the city to try and find things that I will love about the city. I ended up getting more and more dissapointed. As a tourist destination, Managua is not at the top of the list. The phrase "if you HAVE to go" is always used when the city is mentioned. Managua's main purpose is as a stop-over between the southern beaches and the northern mountains. It's dirty, hot, polluted and busy. It borders lake Managua, but the lake is no spot for a quick dip or a leisurely stroll.
To give the city credit, it was completely destroyed by an earthquake in 1973. Only 4 buildings remained standing. There never really was a plan for rebuilding the city. The city just kind of grew out, organically, in a series of semi-circles.
Thus, there is no method to the madness that is Nicaragua's capital city.

Then I read somewhere that the song "Where the streets have no name" by U2 was actually written about Managua. Sold! I then started using this tidbit as a selling point for the city. Managua now joins the exclusive club of songs named after them. Take that Toronto!
But wait, is it actually true? I have spent way to many minutes "researching" this fact online. And it's still deemed a disputed fact (see here and here). Darn!