REPUBLIC ACT NO. 2267 - AN ACT TO
GRANT LORENZO P. VARRON A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND
POWER SYSTEM IN THE MUNICIPALITY OF MADRID, PROVINCE OF SURIGAO. |
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 Larena P. Varron,
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 system for the purpose of generating and
distributing electric light, heat and/or power for sale within the
Municipality of Madrid, Province of Surigao. 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 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 its
approval.cralaw |