A. The town commission shall be the legislative and policy determining body of the town. All powers of the town shall be vested in the commission, except as otherwise provided by law or the charter, and the commission shall provide for the exercise thereof and for the performance of all duties and obligations imposed on the town by law.
B. In addition to other acts required by law or the charter to be done by ordinance, those acts of the commission shall be by ordinance which:
1. Adopt or amend an administrative code or establish, alter or abolish any town department, office or agency.
2. Provide for a fine or other penalty or establish a rule or regulation for violation of which a fine or other penalty is imposed.
3. Levy taxes, except as otherwise provided by law or the charter.
4. Grant, renew or extend a franchise.
5. Regulate the water rates established by the public service commission for its services by a public utility.
6. Authorize the borrowing of money.
7. Convey or lease or authorize the conveyance or lease of any lands of the town.
8. Amend or repeal any ordinance previously adopted, except as otherwise provided in section 1-9-6 of this title with respect to repeal of ordinances reconsidered under the referendum power.
9. Approve all contracts.
10. Cooperate in the exercise of any function, power or responsibility with one or more other local governmental units, school districts, the state or the United States.
11. Provide for an independent audit of the finances of the town. (Prior Code § 2.00.080)