That when any such irrigation works shall have been built or purchased by any such irrigation district, as hereinbefore provided, the same shall be under the exclusive charge and control of said board of irrigation commissioners; and said board shall make all proper and necessary rules and regulations for the operation of the same and the distribution of the waters therein to those entitled to the use thereof, and shall have the power to dispose of the waters in said ditches to all persons in said irrigation district, and charge therefor such rates as such board may fix from time to time, subject to the provisions of this act respecting the fixing by the board of county commissioners of maximum rates for the use of water; and the money so received for the sale of water shall go into the hands of the treasurer of said irrigation board and shall be used for the purpose of defraying the necessary expenses incurred in the operation of said works and keeping the same in repair, and paying interest on bonds issued and creating a sinking fund for the redemption of the said bonds.