The council shall provide by ordinance for the collection of all public utility rates and charges of the city. Such ordinance shall provide at least:
(a) The terms and conditions under which utility services may be discontinued in case of delinquency in paying such rates or charges.
(b) That suit may be instituted by the city before a competent tribunal for the collection of such rates or charges.
With respect to the collection of rates charged for water the city shall have all the powers granted to cities by Act 178 of the Public Acts of 1939, as now or hereafter amended.