The Village may light its streets in such way as it may determine, and construct, own, and maintain gas or electric plants for lighting them or furnishing its inhabitants and the inhabitants of the Towns of Whitingham and Halifax with lights, heating, and power and for this purpose may purchase, take, and hold such real estate, water powers, and water rights and such other real and personal estate as may be necessary and may contract with such person or corporation as it sees fit for supplying light, heat, and power for the purposes aforesaid, and make all necessary regulations in relation thereto, and to the control and management of the same. (Amended 1925, No. 182, § 1.)