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CHAPTER 285 An act to establish graded schools in the town of Concord, North Carolina. The General Assembly of North Carolina do enact :
That all public school funds derived from the state and said county for the use and benefit of the public school districts of said town shall be paid to said town treasurer by the treasurer of said county for the use and benefit of said graded schools; and the property, both real and personal, of said public school districts shall become the property of said graded schools and shall be vested in the said graded school board in trust for said graded schools, and the said graded school board may sell the same and apply the proceeds to said graded schools: Provided, that in the event of the discontinuance of said graded schools, all of the property thereto belonging shall revert to and become the property of said public school districts of said town: Provided further, that the said property belonging to or used for the graded schools for white children shall revert to the public school districts for white children, and said property belonging to or used for the graded schools for colored children shall revert to the public school districts for colored children.