The commissioners shall appoint a time and place for hearing and shall give at least 12 days' notice thereof to the clerk of the municipality and to all persons and municipalities owning or interested in the highways or lands. When they have completed their inquiries, they shall make report to the court. Upon hearing, the court may accept or reject the report in whole or in part, and, by its order, may establish, alter, or discontinue such water mains, drains, sewers, or sewer outlets, in whole or in part, may render judgment for such damages as may be sustained, may tax costs as appears just, and may issue execution for such damages and costs.