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| REPUBLIC ACT NO. 2931 - AN ACT TO
GRANT MARIA D. TAN A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER
SYSTEM IN THE MUNICIPALITY OF TANGUB, PROVINCE OF MISAMIS OCCIDENTAL |
|
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 and thirty-two, and to the provisions of the
Constitution, there is granted to Maria D. Tan, 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 for the purpose of generating and distributing
electric light, heat and/or power for sale within the limits of the
Municipality of Tangub, Province of Misamis Occidental.
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 her franchise and will turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation. Sec. 4. This Act shall take effect upon its
approval. Enacted without Executive
approval, June 19, 1960. |
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