(A) Pursuant to the provisions of 11 O.S. § 12-103.1, the town shall have all of the powers, functions, rights, privileges, franchises and immunities granted, or which may be granted, to towns governed by the statutory town board of trustees-form of government. These powers shall be exercised as provided by law applicable to towns under the board of trustees-form of government, or, if the manner is not prescribed, then in such manner as the Board of Trustees may prescribe.
(B) The powers, rights and authorities of the town, including the determination of matters of policy, shall be vested in and exercised by the Board of Trustees.
(Prior Code, § 2-101)