Be it further enacted, That the capital improvement budget shall also include a description of projects proposed for the ensuing fiscal year and for the five (5) fiscal years thereafter, the estimated cost of each project, and the recommendations of the city manager for financing the projects proposed for the ensuing fiscal year. The council may accept, revise, or reject the proposed budget, but, except in case of emergency threatening the lives, health, or property of the inhabitants of the city declared by a unanimous vote of all members of the council, the council shall not authorize any capital improvement project on any expenditure therefor unless an appropriation for such project has been made.