The Board of Directors shall be the legislative and administrative body of the municipal corporation and shall be responsible for the control and management of all affairs, property, and interests of the corporation. The Board of Directors may exercise all legal powers of the corporation consistent with this chapter, the bylaws of the corporation, and Vermont law. These powers shall include the execution of contracts, the authority to purchase insurance on behalf of the corporation, the commencement of actions in the name of the corporation, defending actions brought against the corporation, and the settlement of claims on behalf of the corporation. (Added 2009, No. M-9, § 2, eff. May 18, 2009.)