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| REPUBLIC ACT NO. 255 - AN
ACT EXTENDING THE TERM OF THE FRANCHISE IN PURSUANCE TO THE AUTHORITY
GRANTED UNDER LEGISLATIVE ACT NUMBERED THREE THOUSAND TWO HUNDRED AND
FIFTEEN TO GABRIEL T. HERNANDEZ, AND LATER TAKEN OVER BY THE CACHO AND
HIDALGO CO-PARTNERSHIP, TO CONSTRUCT, MAINTAIN, AND OPERATE AN ELECTRIC
LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF DAET, PROVINCE OF
CAMARINES NORTE |
| Section
1. Subject to the provisions of the Constitution of
the Philippines and of the Philippine Trade Agreement of 1946, the term
of the franchise granted in pursuance to the authority under
Legislative Act Numbered Three thousand two hundred and fifteen to
Gabriel T. Hernandez and later assigned to and taken over by the Cacho
and Hidalgo co-partnership, to construct, maintain, and operate an
electric light, heat and power system for the purpose of generating and
distributing for sale electric light, heat and power throughout the
municipality of Daet, Province of Camarines Norte, is hereby extended,
under the same terms and conditions therein provided, for a period of
twenty-five years from the date of its expiration. Section 2. The extension herein granted shall be effective if the grantee, the Cacho and Hidalgo co-partnership, shall file with the Office of the President of the Philippines, the acceptance in writing of the provisions of this Act within three months after the approval of the same. Section 3. This Act shall take effect upon its approval. Approved: June 14, 1948 |
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