To meet a public emergency affecting the life, health, property, or the public peace or welfare, the Common Council may adopt one or more emergency ordinances, but such ordinances may not levy taxes; grant, renew or extend a franchise; regulate the rate charged by any public utility for its services; or authorize the borrowing of money, except as provided in this Charter. An emergency ordinance shall be introduced in the form and manner prescribed for ordinances generally, except that it shall be designated plainly as an emergency ordinance and shall contain after the enacting clause a declaration stating that an emergency exists and describing it in clear and specific terms An emergency ordinance may be adopted with or without amendment or rejected at the meeting at which it is introduced, but the affirmative vote of the majority of members present shall be required for adoption. After its adoption, the ordinance shall be published and printed as prescribed for other ordinances. It shall become effective upon adoption or at such later time as it may specify.