The Trustees of the Bradford Academy, an institution located at Bradford, in the county of Orange, established by an act of the Legislature of November 2, 1820, are hereby authorized to transfer by deed the Academy building and all the property appertaining thereto, and to deliver any and all funds in their hands belonging to the institution, to the Bradford Academy and Graded School District, which deed shall become operative and binding whenever the District shall vote to accept the same.