The City Council shall make and establish all necessary rules and regulations for the government and operation of the water works, and may draw orders upon the Treasurer of said City for the necessary expenses of the same, may establish rates or rents for the use of the water, and provide for the collection of the same, and may, from time to time, modify, increase, or diminish such rates or rents, and extend them to any description of property or use as said City may see fit and deem proper. Such rates or rents for the use of the water as may be established upon lots, buildings, factories, steam engines, stores, shops, stables, and other property shall be collected from the owner of the property so supplied, unless otherwise provided in the lease of the water; and such rates or rents shall be in the nature of a tax, and be a lien and charge upon such buildings, lots, and other property so supplied, and may be collected in the same manner as any municipal tax. Said water rates or rents may be ordered to be paid in advance, and all necessary provisions and orders may be made by said City Council relating to the supply or stoppage of water as they may deem necessary to insure such payments. Said City Council shall appoint a Collector of Water Rates or Rents, and may remove him or her at pleasure; and said Collector, before he or she enters upon the duties of his or her office, shall execute a bond to the City of Vergennes and file the same with the Clerk of said City, conditioned for a just and true accounting of all money received and disbursed by him or her, and for the faithful performance of the duties of his or her office, in such sum and with such sureties as said City Council shall direct, and, if he or she fails to comply therewith within five days from his or her appointment, said office shall thereby become vacant, and said City Council shall appoint others until one so appointed duly qualifies. During the construction contemplated by this subchapter, the committee provided for in section 64 of this charter shall have the exclusive management and control of the existing water works, and of all matters and things appertaining thereto, and shall have all and the same power and authority now vested in the City Council, with reference thereto, with full power of delegation.