Any township within the provisions of this act which has heretofore entered into a contract with any city under the provisions of article 15 of chapter 80 of the Kansas Statutes Annotated, which contract has been terminated or expired, and which has on hand, after paying all obligations to such city, a balance in its funds raised by taxation under the provisions of Kan. Stat. Ann. § 80-1503, may transfer such balance to the funds of the township fire department created under the provisions of this act and use the same for any of the purposes provided in this act.