Republic Acts
Republic Act No. 1982
PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW
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ACT NO. 1982
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REPUBLIC ACTS
| REPUBLIC ACT NO. 1982 - AN
ACT GRANTING CATMON ELECTRIC COMPANY A FRANCHISE FOR AN ELECTRIC LIGHT,
HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF CATMON, PROVINCE OF CEBU |
| Section
1. Subject to the terms and conditions established in
Act Numbered Thirty-six hundred thirty-six, as amended by Commonwealth
Act Numbered One hundred thirty-two, and to the provisions of the
Constitution, there is granted to Catmon Electric Company, for a period
of fifty 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 Municipality of
Catmon, Province of Cebu. 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 its franchise and will turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation.cralaw Sec. 4. This Act shall take effect upon its
approval. Approved: June 22, 1957 |
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