REPUBLIC ACT NO. 1439 - AN ACT
GRANTING LEONCIO LIMPIADO A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND
POWER SYSTEM IN THE MUNICIPALITY OF NAVAL, PROVINCE OF LEYTE |
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 Leoncio Limpiado, 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 Naval, Province of Leyte. 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.cralaw 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. Approved: June 14, 1956 |