I've become convinced that a municipal holiday is a good thing for a town.
I've lived in towns that didn't have one, and it was like living in a city, with people not knowing their neighbors and having nothing in common.
Not so here though.
Today (March 24) is Joseph City Founder's Day. The holiday is to commemorate the pioneers who founded the town and their descendants. We are unusual in that we moved here without being related to anyone in the town (which means I can't use the old standby line that everyone else gets to use on their kids, "You can't go out with him! He's your cousin!") Even though we are related to no one, we really get to enjoy the holiday every year.
Every year on March 24, the town has a municipal holiday. It starts with an institution in the town, a group of guys going around town and 'firing the anvil' (blowing it into the air with gunpowder charges.) Well, if you aren't up by the time they come by your house with the anvil, you will be quick enough. Then there is a seven o'clock breakfast, a parade and games with the kids, and lunch at the firehouse (a $7 per plate barbeque cooked by the firefighters, which provides a good chunk of their budget every year). Throughout the day they have various other activities, plus this is the weekend every year when the high school puts on their annual musical. One highlight is the quilt show. Some of the ladies here are real talented quilters. And a good western gentleman will learn a few things about quilts and appreciate the talents of the ladies. Then at night there is a dance.
I've also gone with my kids to Snowflake to celebrate their version of founder's day (which is in late July). Even though the town is larger, it is much the same-- and what is best about it is that everyone gets to meet everyone else. This engenders a sense of community that is lacking in other places (sure there are national holidays which are celebrated in small towns, like the fourth of July-- and we celebrate that here too-- but somehow it isn't the same.)
I can say that communities I've lived in that had their own municipal holiday have almost uniformly been stronger, closer communities than those I've lived in which do not.