SECTION 4.07   CONTENT OF EMERGENCY ORDINANCES AND RESOLUTIONS.
   Each emergency ordinance or resolution shall determine that said ordinance or resolution is necessary for the immediate preservation of the public peace, health, safety, or welfare, and shall contain a statement of the necessity for such emergency. No ordinance or resolution, or amendment to an existing ordinance or resolution, providing for the levy of taxes, fixing or regulating the rate charged by a public utility, or granting, renewing or extending a franchise shall be passed as an emergency.
   No emergency ordinance or resolution may be passed at the meeting at which it is introduced unless the Clerk of Council shall have caused a copy of such ordinance or resolution and a written notice of the date on which such emergency ordinance or resolution will be introduced to be served personally or left at the usual place of residence of each member of the Council and the Mayor not less than twelve hours preceding the time of the meeting at which it is to be introduced. The person making such personal or residence service shall endorse his action on a copy of such notice and return said endorsed copy to the Clerk of Council who shall preserve such copy for at least thirty days after its return. A failure to make a return, a defect in such return, or failure of the Clerk of Council to preserve such return shall not be subject to attack by any person after a period of thirty days subsequent to the service as hereinabove provided, and after such thirty-day period the validity of any action taken upon an emergency ordinance or resolution passed at a meeting at which it was introduced shall not be affected by such failure to make a return, defect in the return, or failure to preserve the return. If such notice, service, or return thereof is not properly affected and the member or members of Council, or the Mayor, who failed to receive such notice or service or whose return thereof is defective is present at the meeting at which it is introduced and does not object to the consideration of such emergency ordinance or resolution, then such defect in notice, service or the return thereof shall be conclusively waived and the validity of such emergency ordinance or resolution shall not be affected.