At any time during the budget year, Council may make an appropriation to meet emergency needs for the protection of the public health, safety, morals or welfare of the inhabitants of the City, even though such appropriation is in excess of available revenues. Such appropriation may be made only by the affirmative vote of at least five (5) Council members, after consultation with the City Manager. The ordinance making the appropriation shall set forth explicitly the character of the emergency and shall indicate clearly the source of the funds from which the expenditure is to be financed.