The Town Council shall appoint a Town Manager, who shall be the administrative head of Town government and shall be responsible for the administration of all departments of Town government. The Town Manager shall be appointed with regard to his or her executive and administrative abilities and does not have to be a resident of the Town when appointed but shall, during his or her tenure as Town Manager, reside within the corporate limits of the Town. The Town Manager shall hold office at the pleasure of the Town Council and shall receive the compensation established by the Town Council from time to time. The Town Manager shall have all the powers and duties conferred by general law and shall have the additional powers and duties conferred by the Town Council as authorized by general or local law.