Section 10-1004. Organization of companies

The board of fire commissioners,
  with the approval of the board of trustees, may  organize  and  maintain
  fire,  hose,  protective  and hook and ladder companies, whenever in its
  judgment the public interests require. The board of  fire  commissioners
  may,  by resolution, with the approval of the board of trustees, consent
  to the incorporation of any of the companies so organized  by  them,  or
  may,  by like approval, consent to the incorporation or the organization
  without incorporation of as many companies voluntarily organized in said
  village as may be deemed necessary.