Incorporation of Municipality :— 2[Every Municipality] shall be a body

corporate by the name of the municipality by reference to which it is known, shall have perpetual succession and a common seal, and subject to any restriction and qualification imposed by or under this or any other enactment shall have power to acquire and hold property, both movable and immovable, and subject to any rules prescribed to transfer any such property held by it, to enter into contracts and to do all other things necessary proper or expedient for the purposes of this Act and may sue and be sued in its corporate name.