The Council may, by an affirmative vote of not less than four members, pass emergency ordinances to take effect at the time indicated therein, to preserve the public interest, or to provide for special emergencies in the operation of usual Village services. Each emergency ordinance shall set forth the specific reasons necessitating emergency legislation. Ordinances appropriating money may be passed as emergency measures, but no ordinance granting, renewing, or extending a franchise or regulating the rate to be charged for public utility services shall ever be passed as an emergency measure. In lieu of publication before passage, the summary of an emergency ordinance shall be published within one week after its passage.