(a) A municipality may acquire, encumber, construct, maintain, operate, repair, or remodel:
(1) a health and recreational facility, park, playground, hotel, bathhouse, or swimming pool or facility; or
(2) an installation or establishment necessary or desirable as a part of a facility described by Subdivision (1).
(b) A municipality may not encumber under this section a project acquired on or before November 14, 1935.