Contracts under section 604 of this title may be for a term or for an indefinite period; may provide for the sale or other disposition of byproducts of electric power facilities; and may contain provisions for arbitration, delegation, and other matters deemed necessary or desirable to carry out their purposes. Any party, public or private, desiring to purchase or use byproducts of electric power facilities financed, constructed, or operated under this chapter may enter into contracts therefor for short or long terms. The obligation of the city, village, and town under contracts referred to in this section shall not be included in the debt of the city, village, and town for the purpose of ascertaining its borrowing capacity. (Added 1973, No. 167 (Adj. Sess.), eff. March 25, 1974; amended 1977, No. 278 (Adj. Sess.), § 3, eff. Feb. 9, 1978; 2003, No. 121 (Adj. Sess.), § 96, eff. June 8, 2004.)