If the compensation to be paid for such bridge cannot be agreed upon between the owners thereof and such cities, it shall be lawful for such city, or cities, to tender the bond thereof as security to the person, firm or corporation claiming or entitled to compensation, or to the attorney or agent of any absent person, or to the agent or officers of a corporation, or to the guardian or committee of any one under legal incapacity, the conditions of which shall be that the said city shall pay or cause to be paid such amount of damages or compensation as the person, firm or corporation, as the case may be, shall be entitled to receive after the same shall be agreed upon or assessed in the manner provided in this act; in case the party or parties claiming damages or compensation refuse or do not accept the security so tendered, such city shall then give the party, his or their agent, attorney, guardian or committee, written notice of the time when the same will be presented in the court for approval, and thereafter the said city may present said security to any court of common pleas of the county wherein such bridges are located and used, and when approved, the said security shall be filed in said court for the benefit of those interested, and recovery may be had thereon for the amount of damages or compensation assessed, if the same be not paid, or cannot be made by execution on the judgment in the issue formed to try the question, and upon the approval of said security said city may enter upon, appropriate, take, hold, use and control such bridge or bridges.
53 P.S. § 2582