Incorporates the Town of Fontana Dam, describing the area to be incorporated by metes and bounds. Sets out the charter of the Town of Fontana Dam, including the establishment of corporate and taxation powers, boundaries, election procedures, and ordinance-making power. Provides that the governing body of the town is the Mayor and a four-member town council and prescribes that the town is to operate under the council-manager form of government as provided in GS Chapter 160A, Article 7, Part 2.