Would I lose my Free Town Shield if I attacked with the shield? If yes would I have it again?
If you try to launch an attack while you have a shield, it will give you a warning saying that you will lose your shield if you attack. As soon as you click 'OK', you lose the shield, even if you do not launch an attack.
You can get a shield back by either buying it, or when someone attacks you and does atleast 40% damage to your town, or gets any stars. You will not get it back otherwise.
If you attack while you have an active shield,the shield will be gone if you have searched for a base. To recover your shield: 1.Use gems to buy a shield. 2.Someone has to at least 40% your base to have a shield. Or 3.Save your shield.