Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. The Municipality of Agoo, Province of La Union, is hereby granted a franchise for an electric light, heat and power system.

SEC. 2. The Municipality of Agoo, Province of La Union, is hereby granted under this franchise the right, privilege and authority to construct, maintain and operate an electric system for the distribution of light, heat and power to the inhabitants, business establishments and industries in the Municipality of Agoo, Province of La Union, and other areas not yet supplied by electric light, heat and power.

SEC. 3.  The Municipality of Agoo may develop hydro-electric power for its own use if it so desires I the live streams provided that said streams, up to the present, have not been considered by the National Power Corporation as feasible of development.

SEC. 4.  In the event that the Municipality of Agoo produces its own power from the streams with the aid of the National Government in any form except the grant of loan, the said Municipality of Agoo shall be allowed to charge only ten centavos for the first ten kilowatts and five centavos per kilowatt in excess thereof.

SEC. 5.  This Act shall take effect upon its approval.

Approved, June 19, 1964.