Any ordinance which must be made effective at once in order to meet an emergency in the operation of the municipal government, or which is necessary for the immediate preservation of the public peace, safety, health, morals or welfare, may be passed without the delay provided in Section 3.03, provided the Council shall, in a separate section thereof, declare that such an emergency exists, giving reasons therefor, and adopt such section by a vote of five members of Council. Summaries of emergency ordinances shall be published within one week after their passage. No ordinance granting a franchise or fixing a rate to be charged by a public utility corporation shall be passed as an emergency ordinance.