1. Any corporation, company or individual proposing to supply with water any city, town or village, shall have the right to take water from any stream that is not navigable and to erect a dam thereon. Any such water corporation shall also have the right to acquire by condemnation sufficient lands to lay pipes for the conveyance of water in, over or through any lands situated beyond the source of water supply, regardless of the nature or kind of such source of supply. Any such water corporation shall also have the right to acquire by condemnation sufficient lands upon which to drill wells to provide an adequate water supply from underground sources. Any such water corporation shall also have the right to acquire by condemnation sufficient lands upon which to build, construct, install and operate facilities for the processing, pumping, storage, distribution and management of water. Any such water corporation may exercise any, some or all of the above granted powers upon complying with the proceedings herein provided for.

2. In case any such corporation, company or individual cannot agree with the owners of such water or lands sought to be obtained, or right-of-way, upon compensation to be paid, or in case the owner is incapable of contracting, be unknown, or be a nonresident of this state, such corporation, company or individual may apply to the circuit court of the county where said land or any part thereof lies, by petition, stating what is desired.