(a) The governing body of a municipality may issue warrants or notes drawn against the current revenues of the municipality for the fiscal year to:
(1) provide for the payment of the municipality's expenses for the fiscal year in which the warrants or notes are issued or for any portion of that fiscal year; or
(2) refund the principal of and interest on warrants and notes issued under this subchapter.
(b) Warrants and notes issued under this subchapter must be dated and numbered consecutively as issued.