All projects or matters that fall within the duties and powers of the Planning Commission (as specified in this code of ordinances) shall be referred to said Planning Commission for investigation and report before any final action shall be taken thereon by the Town Board of Trustees. If said Planning Commission fails to make an investigation and report on any matter referred to it within 60 days, or other agreed upon time, the Town Board of Trustees may proceed to act upon such matter.
(`85 Code, § 19-5)