All powers, duties, restrictions, and purposes ascribed to Economic Development Commissions generally or an Economic Development Commissioner under I.C. 36-7-12-1 et seq., as now existing or hereafter amended, are hereby conferred and imposed upon the Economic Development Commission and the Commissioners thereof and the Commission and its Commissioners are hereby specifically authorized and directed to proceed to discharge their duties under the act as above cited as they shall deem it necessary, convenient and of advantage to the town.
(1982 Code, § 18-9)