SECTION 4.07.   EMERGENCY MEASURES.
   The Council may, by a majority vote of its members present, pass emergency measure to take effect at the time indicated therein.
   Emergency measures shall contain a section in which the emergency is set forth and defined. Ordinances appropriating money may be passed as emergency measures, but no measure making a grant, renewal or extension of a franchise or other special privilege, or regulating the rate to be charged for its services by any public utility, shall be so passed.