Section 54. Ordinances passed as emergency measures shall be subject to referendum in like manner as other ordinances except that they shall go into effect at the time indicated in such ordinances. If when submitted to a vote of the electors, an emergency measure be not approved by the majority of those voting it shall be considered repealed as regards any further action thereunder; but such measure so repealed shall be deemed sufficient authority for payment in accordance with the ordinance of any expense incurred previous to the referendum vote thereon.