(A) The town, by and through its Council, may exercise any power or perform any function necessary to the public interest in the conduct of its town or internal affairs, which is not prohibited by the State Constitution or the United States Constitution, or denied or preempted by any other law or is not vested by any other law in a town, county or state entity, special purpose district or municipal or school corporation.
(B) The Council shall support all actions, projects and programs in the public interest of the citizens of the town, if those actions, projects and programs are authorized under Home Rule powers or the performance of those functions is reasonable and practical under the circumstances, and if the financial support for them is forthcoming from the Town Council.