[ REPUBLIC ACT NO. 1225, May 23, 1955 ]
AN ACT TO GRANT TO THE LA UNION ELECTRIC CO., INC., A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITIES OP SAN FERNANDO, BAUANG AND SAN JUAN, PROVINCE OF LA UNION.
Be it encated by the Senate and House of Representatives of the Philippines in Congress assembled:
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 the La Union Electric Co., Inc., for a period of fifty years from the approval of this Act, the right, privilege and authority to construct, mainly and operate an electric light, heat and power plant the purpose of generating and distributing electric relit, heat and/or power for sale within the limits of the municipalities of San Fernando, Bauang and San Juan, Province of La Union.
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 plant and enterprise herein authorized, the grantee shall surrender its 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.
Approved, May 23, 1955.
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 the La Union Electric Co., Inc., for a period of fifty years from the approval of this Act, the right, privilege and authority to construct, mainly and operate an electric light, heat and power plant the purpose of generating and distributing electric relit, heat and/or power for sale within the limits of the municipalities of San Fernando, Bauang and San Juan, Province of La Union.
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 plant and enterprise herein authorized, the grantee shall surrender its 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.
Approved, May 23, 1955.