Whenever two-thirds (2/3) of the taxable inhabitants of any
town or Village within this State shall present a petition to the
County Commission of the County, setting forth the metes and bounds
of their Village and commons, and praying that they may be incorporated
under a Police established for their local government, and for the
preservation and regulation of any commons appertaining to such town
and Village, and the County Commission shall be satisfied that two-thirds
(2/3) of the taxable inhabitants of such town or Village have signed
such petition, and that the prayer of such petition is reasonable,
the County Commission may declare such town or Village incorporated,
designating in such order the metes and bounds thereof, and thenceforth
the inhabitants within such bounds shall be a body politic and corporate
by the name and style of "The Village of ..." naming it and by that
name they and their successors shall be known in law; have perpetual
succession, unless disincorporated; sue and be sued; plead and be
impleaded; defend and be defended in all courts and in all actions,
pleas and matters whatsoever; may grant, purchase, hold and receive
property, real and personal, within such Village and no other, burial
grounds and cemeteries excepted; and may lease, sell and dispose of
the same for the benefit of the Village; and may have a common seal
and alter the same at pleasure.