REPUBLIC ACT NO. 5862 - AN
ACT AMENDING REPUBLIC ACT NUMBERED FORTY HUNDRED TWENTY-EIGHT BY
CHANGING THE NAME OF THE GRANTEE FROM ANTONIA L. ALISANGCO TO BACNOTAN
DEVELOPMENT CORPORATION
Section 1. The title of Republic Act Numbered Forty hundred
twenty-eight is hereby amended to read as follows:
"An Act granting Bacnotan Development Corporation a franchise of an
electric light, heat and power system in the Municipality of Bacnotan,
Province of La Union."
Sec. 2. Section s one, two and four of the same Act
are amended to read as follows:
"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 Bacnotan
Development Corporation for a period of twenty-five years from the date
of approval of this Act, the right, privilege and authority to
construct, operate and maintain an electric light, heat and power
system for the purpose of generating and/or distributing electric
light, heat and/or power for sale within the Municipality of Bacnotan,
province of La Union. 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 protective devices, and pole
line hardware, and other equipment 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 this franchise, the National Power
Corporation may make available its power and heat only after
negotiation with and through Bacnotan Development Corporation or with
the authority and consent of said grantee.
"Sec. 4. Upon approval of this Act, the municipal
franchise granted to Bacnotan Development Corporation shall terminate
and this franchise shall take its place."
Sec. 3. The same Act is amended by inserting
between Section s three and four thereof a new section to read as
follows:
"Sec. 3-A. In consideration of this franchise the
grantee shall pay a tax equivalent to five per cent of its gross
income."
Sec. 4. This Act shall take effect upon its
approval.
Enacted without Executive
approval, June 21, 1969.
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