REPUBLIC ACT NO. 3202 - AN ACT GRANTING THE TALIBON BUSINESS ENTERPRISES IN THE MUNICIPALITY OF TALIBON, PROVINCE OF BOHOL, A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM
|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 Talibon Business Enterprises, 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 in the Municipality of Talibon, Province of Bohol, for the
purpose of generating and distributing electric light, heat and power
for sale within the limits of the said municipality.
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 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