Section 11-1104. Acquisition of existing system

If a resolution be adopted
  for the acquisition of an existing system of water works, the  board  of
  water  commissioners  may purchase the same at a price not exceeding the
  sum specified therein. If the board cannot agree with the owners of  the
  system  for  its  purchase, proceedings may be taken to acquire the same
  pursuant to the provisions of the eminent domain procedure law.