Section 2-258. Apportionment of property and obligations of a special district of a town upon the incorporation of a part in a village

If the
  territory so incorporated as a village includes  within  its  boundaries
  part  of  a special district established by the town for a sewer, water,
  light, fire, park, health, police or  any  other  special  district  for
  municipal  purposes,  the  proportion of the bonded debt incurred by the
  town and payable  by  a  tax  against  the  property  within  a  special
  district, for whose benefit the bonds were issued which shall be assumed
  by  the  village  and  the  apportionment  of personal and real property
  belonging to the special district shall be determined according  to  the
  relative  assessed  valuation  of the personal and real property in that
  portion of the special district without the  village  and  that  portion
  within  the village, in the following manner: the town board of the town
  when acting as a board for special district exclusive of  a  member  who
  may  reside  in  the  village  or the commissioner or commissioners of a
  special district where the special district is managed by a commissioner
  or commissioners exclusive of a member who may reside in the village and
  the trustees of the village being unable  to  agree  within  six  months
  after  the  incorporation  of  the  village  becomes  complete  upon the
  proportion of the debt and the apportionment of the  personal  and  real
  property,  then  the  supreme  court  shall have power to determine such
  division and to enforce such award, division and determination as  shall
  be made in the premises in a suit in equity to be brought in the name of
  either of the said parties.