(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.