Congratulations on your Mayorship! The name of your town is definitely something that requires a lot of thought, and I commend you for deciding to consult with your potential citizens!
As Polite says, the name needs to come from the town, not necessarily the other way around. You need to think about the kind of town you want to build, and then just do a bit of word association!
Want to build a Faedin town in the heart of a deep forest, at one with nature? Maybe your town is called Chewy Grove, after her mayor, maybe it's called Littleroot.
Want to build a sprawling urban industry town? Maybe consider naming it something like Redwater, after the iron runoff in the river, or something onomatopoeic like Clank.
Want to build a small village with a tight-knit community who live off the land? Maybe you'll name it Roran's Field, maybe you'll name it Appledrop after your orchards!
Just think about the kind of town you want, the type of community you want to build and attract, and the name will come.