(a)   Upon the determination that a civil emergency exists, the Mayor shall forthwith issue notice of a special meeting of Council to be held within twenty-four hours of the time of the proclamation of emergency as set forth in Section 507.03. Council may, by vote of a majority of the members elected thereto, terminate the emergency proclaimed by the Mayor and/or limit the regulations imposed by the Mayor pursuant to Section 507.02. Upon termination of the emergency by Council, the Mayor shall forthwith proclaim that emergency has ended and any regulation issued pursuant to this chapter shall then become void.
   (b)   A majority of Council, at a regular or special meeting called by any member thereof, and upon notice in writing served upon each member present in the Municipality, may initiate the declaration of an emergency and direct the Mayor to act in accordance with the provisions of this chapter.