1. Any acquisition of property heretofore made, within or without the limits of any municipality or the State, for the purposes authorized by this chapter, and any other action heretofore taken by a municipality in furtherance of such purposes, including but not limited to the making of appropriations, the expenditure of money, the incurring of debts, the acceptance and disbursement of federal, state or other grants or loans, the issuance and payment of bonds and notes, the execution of leases and contracts, which acquisition or action would have been authorized had this chapter been in effect at the time of such an acquisition or action, is hereby ratified and made valid. 2. All bonds and notes heretofore issued in furtherance of purposes authorized by this chapter and actions ratified by this section are confirmed as legal obligations of the municipality, and, without prejudice to the general powers granted to the municipality by this chapter, such municipality is hereby authorized to issue further bonds and notes for such purposes up to the limit fixed in the original authorization therefor, which bonds and notes shall be legal obligations in accordance with their terms.
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