REPUBLIC ACT NO. 756 - AN ACT TO
GRANT TO LUCAS VICENTE AND DEMETRIO FERNANDEZ A FRANCHISE FOR AN
ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF
MARGOSATUBIG, PROVINCE OF ZAMBOANGA |
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 Lucas Vicente and Demetrio Fernandez,
for a period of twenty-five years after 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 Margosatubig, Province of Zamboanga. Sec. 2. 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 their franchise and will turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation. Sec. 3. This Act shall take effect upon its approval. Approved: June 18, 1952 |