[ REPUBLIC ACT NO. 1357, June 18, 1955 ]
AN ACT TO GRANT TO FRANCISCO LUANSING A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF TUDELA, PROVINCE OF MISAMIS OCCIDENTAL.
Be it enacted by the Senate and House of Representative 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 Constitute there is granted to Francisco Luansing, for a period of twenty-five years from the approval of this Act, the right, privilege and authority to construct, maintain and operate 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 the 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 his 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, June 18, 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 Constitute there is granted to Francisco Luansing, for a period of twenty-five years from the approval of this Act, the right, privilege and authority to construct, maintain and operate 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 the 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 his 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, June 18, 1955.