The mayor is authorized to make and enter into agreements with corporations or organizations outside of the city limits. Such agreements shall be subject to the terms of this chapter, and shall contain a clause that the city shall in no wise, and under no circumstances be held liable for any loss or damage by reason of its failure to extinguish fires within the territory described in any such agreement. All such agreements shall contain a clause permitting the termination of the agreement upon six months notice. All such agreements so entered into shall be submitted to the city council at its next meeting for approval. (Prior code § 30-5-10)