All the inhabitants dwelling within the territorial limits of the Town of Old Saybrook, as heretofore constituted, shall continue to be a body politic and corporate under the name of "The Town of Old Saybrook", hereinafter in this Charter called "the Town" and as such shall have perpetual succession and may hold and exercise all powers and privileges heretofore exercised by said Town and not inconsistent with the provisions of this Charter, the additional powers and privileges herein conferred, and all powers and privileges conferred upon towns under the general law of the State of Connecticut.
All property, both real and personal, all rights of action and rights of every description and all securities and liens in said Town as of the date when this Charter shall take effect are continued. The Town shall continue to be liable for its debts and obligations. Nothing herein shall be construed to affect the right of the Town to collect any assessment, charge, debt, or lien. If any contract has been entered into by said Town prior to the effective date of this Charter or any bond or undertaking has been given by or in favor of said Town which contains provisions that the same may be enforced by any office or agency therein named, which is abolished, such contracts, bonds, or undertakings shall be in no manner impaired but shall continue in full force and effect. The powers conferred and the duties imposed with reference to the same upon any such office or agency shall, except as otherwise provided in this Charter, thereafter be exercised and discharged by the Board of Selectmen of said Town.
In addition to all powers granted to towns under the Constitution and general law, the Town shall have all powers specifically granted by this Charter and all powers fairly implied in or incident to the powers expressly granted and all other powers incident to the management of the property, government and affairs of the Town, including the power to enter into contracts with the United States or any federal agency, the State of Connecticut or any political subdivision thereof, the exercise of which is not expressly forbidden by the Constitution and the general law of the State of Connecticut. The enumeration of particular powers in this and any other chapter of this Charter shall not be construed as limiting this general giant of power but shall be construed as an addition thereto.
The Town's form of government shall be Town Meeting/Board of Selectmen as hereinafter set forth in this Charter.
In the event of any conflict between this Charter and any ordinance or special act, this Charter shall be deemed to prevail.
(a) 
All references herein to "this Charter" shall be deemed to refer to the Charter as amended hereby.
(b) 
All references herein to "Connecticut General Statutes" shall be deemed to refer to Connecticut General Statutes as amended.