(a) Valuation.--The court of common pleas shall appoint three civil engineers as appraisers to value and appraise:
(1) The water system.
(2) The property used in connection with the water system.
(3) The contracts or agreements with municipalities.
(b) Report.--The civil engineers shall file their report in the court within three months after their appointment unless the time is extended by the court.
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