(a) A town is a public corporation.
(b) A town may:
(1) sue and be sued in its corporate name;
(2) buy, take, and hold real and personal property for a public purpose, and convey and dispose of the property;
(3) enter into any contract that is necessary for the town to use any of its powers; and
(4) dispose of, control, and use town property as its residents consider expedient.