REPUBLIC ACT NO. 2981 - AN ACT
GRANTING THE GUAGUA ELECTRIC LIGHT PLANT COMPANY, INCORPORATED, A
FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE
MUNICIPALITIES OF GUAGUA AND SEXMOAN, PROVINCE OF PAMPANGA |
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 the Guagua Electric
Light Plant Company, Inc., 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 municipalities of Guagua and Sexmoan,
Province of Pampanga. 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. 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 its franchise and will turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation. Sec. 4. This Act shall take effect upon its approval. Enacted without Executive
approval, June 19, 1960. |