[Amended 8-15-2000]
At the time and place appointed and notified as aforesaid, the Municipal Council shall meet and hear all parties interested and, if requested, shall view the premises. If the Municipal Council shall adjudge that the public convenience and necessity require such street or way to be laid out, altered or discontinued, it shall, as soon as may be practical, proceed to lay out, alter or discontinue the same; shall fix the boundaries and measurements of the street or way so laid out or altered; shall determine the grade thereof with a plan and profile of the same, and the names of the various owners of land interested designated thereon; and shall determine the damages, if any, sustained by any persons on their property by the laying out, altering or discontinuing of such street or way, the amount of compensation which such person shall receive, and the time allowed the owners of land through which the street or way passes to take off trees, fences and other property which may obstruct the building of such street or way.