REPUBLIC ACT NO. 5934 - AN ACT GRANTING FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM TO THE NAGUILIAN ELECTRIC CO., INC., IN THE MUNICIPALITY OF NAGUILIAN, PROVINCE OF LA UNION
1. Subject to the provisions of the Constitution and
to the terms and conditions established in Act Numbered Thirty-six
hundred thirty-six, as amended by Commonwealth Act Numbered One hundred
thirty-two, there is granted to Naguilian Electric Co., Inc., a
corporation duly organized and existing under the laws of the Republic
of the Philippines, for a period of twenty-five years from the date of
approval of this Act, the right, privilege and authority to construct,
operate and maintain an electric light, heat and power system for the
purpose of generating and distributing electric light, heat and power
for sale within the Municipality of Naguilian, Province of La Union.
The grantee shall further have the right and privilege to install, lay
and maintain on all streets, public thoroughfares, bridges and public
places within said limits, poles, wires, transformers, capacitors,
overhead protective devices, and pole line hardware, and other
equipment necessary for the distribution of electric current to the
Sec. 2. In the event that the National Power Corporation shall have established its lines in the areas adjacent to or over the territory covered by this franchise, said corporation may make available its power and heat only after negotiation with and through or with the authority and consent of the grantee.
Sec. 3. The rates for the sale of electric light, heat and power shall always be subject to regulation by the Public Service Commission.
Sec. 4. In consideration of this franchise the grantee shall pay a tax equivalent to five percent of its gross income.
Sec. 5. This Act shall take effect upon the expiration of the municipal franchise granted to the Naguilian Electric Co., Inc.
Enacted without Executive
approval, June 21, 1969.