Whenever, in view of the sewage and drainage requirements of the Town, the existing sewer system is adequate therefor, the Town may contract with any organized and established sewer district or with any other municipal corporation for the discharge into the Jackpot Municipal Sewer System of sewage or drainage from any part or parts of such sewer district or municipal corporation, or for discharge into the sewer system of any sewer district or other municipal corporation of sewage or drainage from any part or parts of the Town, upon such terms and conditions and for such periods of time as may be deemed reasonable.