REPUBLIC ACT NO. 3999 - AN ACT GRANTING RENE T. HAMOY A FRANCHISE TO INSTALL, OPERATE AND MAINTAIN AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF PINAN, PROVINCE OF ZAMBOANGA DEL NORTE

Section 1.    Subject to the terms and conditions established in this Act and 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 Rene T. Hamoy, hereinafter called the grantee, for a period of twenty-five years from the approval of this Act, the right, privilege and authority to install, maintain and operate an electric light, heat and power system in the Municipality Pinan, Province of Zamboanga del Norte, and to sell and distribute electric heat and power within the said municipality.  

Sec. 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.

Sec. 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 shall turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation.

Sec. 4.    This Act shall take effect upon its approval.

Approved: June 18, 1964