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| REPUBLIC ACT NO. 1432 - AN ACT
GRANTING TO THE FARMERS' COOPERATIVE MARKETING ASSOCIATION A FRANCHISE
TO INSTALL, OPERATE, AND MAINTAIN AN ELECTRIC LIGHT, HEAT, AND POWER
SYSTEM IN THE MUNICIPALITY OF SOLANO, PROVINCE OF NUEVA VIZCAYA |
| Section 1.
Subject to the terms and conditions established in Act Numbered
Thirty-six hundred and thirty-six, as amended by Commonwealth Act
Numbered One hundred and thirty-two, and to the provisions of the
Constitution, there is granted to the Farmers' Cooperative Marketing
Association, for a period of twenty-five years from the approval of
this Act, the right, privilege and authority to construct, maintain and
operate an electric light, heat and power system for the purpose of
generating and distributing electric light, heat, and/or power for sale
within the Municipality of Solano, Province of Nueva Vizcaya. Section 2. In the event that the grantee shall purchase and secure from the National Power Corporation electric heat and power, the National Power Corporation is hereby authorized to negotiate and transact for the benefit and in behalf of the public consumers with reference to rates. Section 3. It is expressly provided that, in the event the Government should desire to maintain and operate for itself the system and enterprise herein authorized, the grantee shall surrender its franchise and will turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation. Section 4. This Act shall take effect upon its approval. Approved: June 14, 1956 |
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