REPUBLIC ACT NO. 5785 - AN ACT
APPROVING ANY ASSIGNMENT, SALE AND TRANSFER OF THE FRANCHISE GRANTED TO
JUAN R. ALCASID BY REPUBLIC ACT NUMBERED FORTY-FIVE HUNDRED SIX, AND OF
THE FRANCHISE GRANTED TO FELICIANA S. BERMUDEZ UNDER THE REPUBLIC ACT
NUMBERED EIGHTEEN HUNDRED FORTY WHICH WAS LATER ASSIGNED, SOLD AND
TRANSFERRED TO JUAN R. ALCASID DULY APPROVED BY CONGRESS UNDER REPUBLIC
ACT NUMBERED FORTY-FIVE HUNDRED FIFTY-THREE, IN FAVOR OF RURAL
ELECTRIC, INC. |
Section
1. Subject to the provisions of Republic Act Numbered
Forty-five hundred six, entitled "An Act granting to Juan R. Alcasid a
franchise to install, maintain and operate an electric light, heat and
power system in the Municipality of Polomolok, Province of Cotabato,"
and Republic Act Numbered Eighteen hundred forty, entitled "An Act to
grant to Feliciana S. Bermudez a franchise for an electric light, heat
and power system in the Municipality of Tupi, Province of Cotabato,"
which was later assigned, sold and transferred to Juan R. Alcasid duly
approved by Congress under Republic Act Numbered Forty-five hundred
fifty-three, approval is hereby given to any assignment, sale and
transfer of the franchise granted to Juan R. Alcasid under the said
Acts, together with all the properties and improvements acquired
thereunder, in favor of Jural Electric, Inc. Sec. 2. The grantee shall be liable to pay the same taxes, unless exempted therefrom, on its business, real estate, buildings and personal property, exclusive of this franchise, as other persons or corporation are not or hereinafter may be required by law to pay. Sec. 3. This Act shall take effect upon its approval. Enacted without Executive
approval, June 21, 1969. |