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| REPUBLIC ACT NO. 2972 - AN ACT
GRANTING THE MUNICIPALITY OF MAASIN, PROVINCE OF LEYTE, A FRANCHISE FOR
AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE SAID MUNICIPALITY |
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Section
1. Subject to the terms and conditions established in
Act Numbered Thirty-six hundred thirty-six, as amended by Commonwealth
Act Numbered One hundred thirty-two, and to the provisions of the
Constitution, there is granted to the Municipality of Maasin, Province
of Leyte, 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 in the said
municipality, for the purpose of generating and distributing electric
light, heat and/or power for sale therein. 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 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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