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REPUBLIC ACTS
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| REPUBLIC ACT NO. 2959 - AN ACT
GRANTING PEDRO BANGUG A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER
SYSTEM IN THE MUNICIPALITY OF CABAGAN, PROVINCE OF ISABELA |
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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 Pedro Bangug, for a
period of fifty years from the approval of this Act, the rights,
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 Cabagan, Province of Isabela. 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 his franchise and turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation. Section 4. This Act shall take effect upon its approval. Enacted without Executive
approval, June 19, 1960. |
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