REPUBLIC ACT NO. 4504 - AN ACT TO
AMEND REPUBLIC ACT NUMBERED FORTY HUNDRED TWELVE, ENTITLED "AN ACT
GRANTING POTOTAN ELECTRIC LIGHT AND POWER CORPORATION A FRANCHISE FOR
AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF
POTOTAN, PROVINCE OF ILOILO"
Section 1. Section one of Republic Act Numbered Forty hundred
twelve is hereby amended to read as follows:
"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 thirty-two, and to the
provisions of the Constitution, there is granted to Pototan Electric
Light and Power Corporation in the Municipality of Pototan, Province of
Iloilo, for a period of twenty-five years from the approval of this
Act, the right, privilege and authority to construct, maintain and
operate electric light, heat and power system and an ice plant for the
purpose of generating, distributing electric light, heat and/or power
and manufacturing ice for sale within the limits of the said
municipality."
Sec. 2. The same Act is further amended by
inserting between Section s two and three thereof the following new
sections which shall read as follows:
"Sec. 2-A. The grantee shall manufacture and supply
ice up to the limit of the capacity of its plant, said limit to be
determined by the Public Service Commission.
"Sec. 2-B. All the apparatus and appurtenances to be
used by the grantee shall be modern, safe and first class in every
respect, and the grantee shall, whenever the Public Service Commission
shall determine that public interest reasonably requires it, change or
alter any of its apparatus and appurtenances at grantee's expense.
"Sec. 2-C. If the grantee shall not commence the
manufacture and distribution of ice in the Municipality of Pototan,
Province of Iloilo, within two years from the approval of this Act,
unless prevented by an act of God or force majeure, martial law, riot,
civil commotion, usurpation by a military power or any other cause
beyond the grantee's control, this franchise shall be null and void.
"Sec. 2-D. This franchise is granted subject to the
provisions of the Constitution and Commonwealth Act Numbered One
hundred forty-six, as amended, and with the understanding and upon the
condition that it shall be subject to amendment, alteration, or repeal
by the Congress of the Philippines when public interest so requires.
"Sec. 2-E. The books, records and accounts of the
grantee shall always be open to the inspection of the Auditor General
or his authorized representatives, and it shall be the duty of the
grantee to submit to the Auditor General quarterly reports in duplicate
showing the gross receipts for the quarter past.
"Sec. 2-F. In consideration of the franchise and
rights hereby granted, the grantee shall pay a franchise tax equal to
five per centum of the gross earnings for electric current and ice sold
under this franchise, three per centum of which shall accrue to the
National Government and two per centum to the municipality where the
franchise is in operation."
Sec. 3. The title of the same Act is hereby
amended to read as follows:
"An Act granting the Pototan Electric Light and Power Corporation a
franchise for an electric light, heat and power system and an ice plant
in the Municipality of Pototan, Province of Iloilo, and for the sale
and distribution of electric light, heat, power and ice therein."
Sec. 4. This Act shall take effect upon its
approval.
Approved: June 19, 1965
|