REPUBLIC ACT NO. 1555 - AN ACT TO
GRANT TO LABASON ELECTRIC LIGHT COMPANY A FRANCHISE FOR AN ELECTRIC
LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF LABASON, PROVINCE
OF ZAMBOANGA DEL NORTE |
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 Labason Electric Light Company, 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 plant for the purpose of generating and
distributing electric light, heat and/or power for sale within the
limits of the Municipality of Labason, Province of Zamboanga del
Norte. 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 plant 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.cralaw Sec. 4. This Act shall take effect upon it
approval.cralaw Approved: June 16, 1956 |