The inhabitants of the Town of Four Oaks, North Carolina, within the boundaries as established in Section 2.1 of this charter or as hereafter established in the manner provided by law, shall continue to be a body politic and corporate by name the Town of Four Oaks, and under that name shall have perpetual succession; may use a corporate seal; may sue and be sued; may acquire property within or without its boundaries for any municipal purpose, in fee simple or lesser interest or estate, by purchase, gift, devise, lease or condemnation and may sell, lease, hold, manage and control such property as its interests may required; and, except as prohibited by the Constitution of North Carolina or restricted by this charter, the Town of Four Oaks shall have and may exercise all municipal powers, functions, rights, privileges and immunities of every name and nature whatsoever.