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Council, on behalf of the town, may receive or refuse bequests, gifts, and donations of all kinds of property in fee simple, whether encumbered or not, or in lease hold, or in trust for public, charitable or other purposes, and do all things and acts necessary to carry out the purpose of such gifts, bequests, and donations with power to manage, sell, lease or otherwise dispose of the same in accordance with the terms of the gift, bequest or trust.