The ratable and all other estate included within the limits of School District Number One in Newbury, in the County of Orange, is hereby incorporated, and shall hereafter be known by the name of the Village of Wells River; and the inhabitants of the Village are constituted a body politic and corporate, with all the usual powers incident to public corporations to be known by the name of the Village of Wells River. (Added 1937, No. 301 § 1.)