This chapter is an acknowledgment of:
(A) The policy of the state expressed in I.C. 36-1-3-5 to grant to the town all the powers that it needs for the effective operation of government as to local affairs;
(B) The powers that the state has granted to the town in I.C. 36-1-3 and other statutes to implement that policy;
(C) The procedures by which the town must exercise any power; and
(D) The territorial jurisdiction of the town.
(1985 Code, § 105-5)