(a) Petition.--If the governing bodies of the township and the borough cannot make an amicable adjustment and apportionment of the property and indebtedness within six months after the government of the newly incorporated borough is established, the supervisors or commissioners of the township or the council of the borough may present a petition to the court of common pleas requesting a judicial adjustment.

(b) Appointment.--After receiving a petition under subsection (a), the court shall appoint three disinterested commissioners who meet all of the following requirements:

(c) Report.--The individuals appointed under subsection (b) shall hold a hearing and make a report to the court containing an adjustment and apportionment of all the property and the indebtedness between the township and the borough. Notice shall be made to the township and borough as provided by the court. The report shall state the amount due and payable from the borough or the township to the other entity and the amount of indebtedness that shall be assumed by the borough or the township.