The park and recreation board of any such municipality shall have no power or authority in behalf of or in the name of such municipality to contract any debts or obligations, except for items in the budget approved by the governing body, and no debts or obligations contracted by such board in violation of this provision shall be or shall be held to be a personal or general obligation of such municipality, nor shall the general credit of the city be pledged for the purchase or acquisition of lands or buildings, or both, unless the pledging of the city's credit is authorized by a resolution of the governing body of such municipality. The limitations contained in this section shall be applicable to each and every power conferred by any provision of this article upon the park and recreation board of any such municipality.
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