Said Village may at any legally warned meeting, enact and adopt such bylaws and regulations concerning the management and use of such aqueduct, reservoirs, and appurtenances, not inconsistent with law, as it may deem expedient, including the fixing and collecting of water rates and the exaction of bonds from the Collector of said rates for the faithful discharge of the Collector's duty, and said trustees are hereby empowered to carry such bylaws and regulations into effect. (Added 1892, No. 114, § 31; amended 1933, No. 193, § 2.)