REPUBLIC ACT NO. 3186 - AN ACT GRANTING ROQUE PLASOS A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF LOON, PROVINCE OF BOHOL
|Section 1. Subject to
the terms and conditions established in Act Numbered Thirty-six hundred
thirty-six, as amended by Commonwealth Act Numbered One hundred
thirty-two, and to the provisions of the Constitution, there is granted
to Roque Plasos, for a period of fifty 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 Loon, Province of Bohol. |
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 his 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.
Approved: June 17, 1961