REPUBLIC ACT NO. 5846  - AN ACT GRANTING MALASIQUI ELECTRIC PLANT A FRANCHISE TO ESTABLISH, OPERATE AND MAINTAIN AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF MALASIQUI, PROVINCE OF PANGASINAN

Section 1.    Subject to the provisions of the Constitution and to the terms and conditions established in Act Numbered Thirty-six hundred thirty-six, as amended by Commonwealth Act Numbered One hundred thirty-two, there is granted to Malasiqui Electric Plant for a period of twenty-five years from the date of approval of this Act, the right, privilege and authority to establish, operate and maintain an electric light, heat and power system for the purpose of generating and distributing electric light, heat and power for sale within the Municipality of Malasiqui, Province of Pangasinan. The grantee shall further have the right and privilege to install, lay and maintain on all streets, public thoroughfares, bridges and public places within said limits, poles, wires, transformers, capacitors, overhead protection devices, and pole line hardware, and other equipments necessary for the safe distribution of electric current to the public.  

Sec. 2.    In the event that the National Power Corporation shall have established its lines in the areas adjacent to or over the territory covered by the franchise, the National Power Corporation may make available its power and heat only after negotiation with and through or with the authority and consent of the grantee.

Sec. 3.    The rates for the sale of electric light, heat and power shall always be subject to the regulation by the Public Service Commission.

Sec. 4.    In consideration of the franchise and rights hereby granted, the grantee shall pay into Internal Revenue Office municipality in which it is supplying electric current to the public under this franchise, a tax equal to five per centum of the gross receipts from electric current sold or supplied under this franchise.

Sec. 5.    Upon approval of this Act, the municipal franchise granted to the Malasiqui Electric Plant shall terminate and this franchise shall take its  place.  

Sec. 6.    This Act shall take effect upon its approval.

Enacted without Executive approval, June 21, 1969.