The city of Palestine and Palestine Junior Service League will sponsor the celebration.
It will include a DJ and music, door prizes, balloon release and refreshments.
The spray ground on the west side of Reagan Park's bandstand has two splash pads. It has a railroad theme and features tumble buckets, a spray train and geysers, a spill tower, water wickets, custom railroad crossing sign, spray rings and other water ground features.
According to information from city officials, total cost of the project was $354,810.
A breakdown of funding sources shows a $75,000 grant from the Texas Department of Parks and Wildlife, $126,810 from the city of Palestine and $153,000 from Palestine Junior Service League.