The board of trustees of any vocational-agricultural high school located within a municipality having a population of less than seven hundred, and not having a municipal water system, may, in its discretion, enter into a contract and agreement with the governing authority to supply said municipality with water from the water system owned by such vocational-agricultural high school.
Such contract or agreement shall be entered into by and between the board of trustees of such vocational-agricultural high school and the governing authority of such municipality. The same shall be made a matter of record on the minutes of each, and shall be upon such terms and conditions as may be agreed upon by and between the said board of trustees and the governing authority of such municipality.
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