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CHAPTER 4. An act to establish graded schools for the town of Lexington, North Carolina. The General Assembly of North Carolina do enact:
That all property, both real and personal, of the public schools within said town shall become the property of said graded schools, and shall be vested in said School Commissioners in trust for the graded schools: Provided, that in the event said graded schools shall be discontinued, the said property shall become the property of the public schools of said town, the property of the white school to go to public schools for whites, and property of colored school going to public school for colored children.