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CHAPTER 485 An act to establish graded schools in the town of Waynesville, and to provide for the issuance of bonds for electric lights. The General Assembly of North Carolina do enact :
That the property, both real and personal, of the public schools of said town shall become the property of the said graded schools, and shall be vested in the said board of trustees and their successors in trust for said graded schools: Provided, that in the event of the discontinuance of said graded schools all the property thereto belonging shall revert to and become the property of the said public schools of said town: Provided, that the said property belonging to or used for the graded schools for white children should revert to the public schools of said town for white chidren, and the property belonging to or used for the graded school for the colored children shall revert to the public school for colored children of said town.