A borough may enter upon any land lying near a watercourse and secure the material as may be necessary for the purpose of making and repairing the embankments along the watercourse when the material cannot be obtained by contract at a reasonable price. The borough shall cause no unnecessary damage to the owners of the land, shall repair any fences, structures or damage to the land that is caused by the borough and shall compensate the owner, either by agreement or in accordance with 26 Pa.C.S. (relating to eminent domain), for any materials obtained under this section.