All of the Town of Bennington which is included within the limits of the incorporated Village of North Bennington is hereby constituted a school district in the Town by the name of the North Bennington Graded School District and the Graded School District shall have all the powers and privileges and shall be subject to all the duties and liabilities that are incident to school districts as established under the laws of this State.
16 Appendix V.S.A. § 15-1