(A) The town has:
(1) All the powers granted it by statute, including but not limited to I.C. 36-1-4; and
(2) All other powers necessary or desirable in the conduct of its affairs, even though not granted by statute.
(B) The town may exercise any power it has to the extent that the power is not expressly:
(1) Denied by the State Constitution or by statute, including I.C. 36-1-3-8; or
(2) Granted to another entity.
(1985 Code, § 105-10)