Said board shall have full power and authority to require payment in advance for the use of water, electricity and gas furnished by them in or upon any building, place or premises, and require meters to be used for measuring all water and electricity, and in case prompt payment for the same shall not be made, they may shut off the water, electricity or gas from such building, place or premises without regard to the purpose for which it is used and shall not be compelled to supply said building, place or premises with water, electricity or gas until such arrears, with interest thereon, together with such penalties, costs, and expenses of turning the water, electricity or gas off and on as may be fixed by the board, shall be fully paid.