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CHAPTER 106 AN ACT TO ESTABLISH A GRADED SCHOOL IN THE TOWN OF GREENVILLE. The General Assembly of North Carolina do enact:
That the proceeds of the sale of the bonds provided in this act shall be used exclusively for the erection and equipment of suitable buildings for the graded schools for the whites and such enlargement and equipment of the colored school buildings as may be necessary, and said buildings shall be constructed and equipped and said fund expended under the sole direction of said board of trustees of said graded schools. And to this end it shall be the duty of said board of trustees to determine the location and the character of the building for the white graded school and the needed enlargement, if any, of the building for the colored graded school. But if the said board shall deem it better to select another location for the colored graded school, the said board is hereby fully authorized and empowered to purchase a site therefor and erect and equip the necessary buildings thereon. And it shall be the duty of said board, as soon as possible after the ratification of this act by the qualified voters of the town of Greenville, to determine said location and to proceed as speedily as possible with the erection and enlargement of the buildings for said school.. The said board may have said buildings erected and enlarged by contract or in such other way as they may deem best, and it shall be the duty of the Treasurer of said town to pay for the same out of the proceeds of the sale of said bonds upon the order of the board of trustees, signed and countersigned in such manner and under such rules and regulations as they may prescribe. But said board of trustees shall keep a record which shall show in detail the manner in which the said fund has been expended by them. The Town Treasurer shall also keep a separate account of his receipts and disbursements of this fund, and he shall make a report to the Board of Aldermen from time to time of his dealings therewith, and he shall be allowed as his compensation in receiving and paying out this fund two and one-half per cent. commission on his disbursements.