REPUBLIC ACT NO. 4638 - AN ACT GRANTING FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM TO PEDRO S. LIMJOCO IN THE MUNICIPALITIES OF CANDABA, SAN LUIS AND SAN SIMON, ALL IN THE PROVINCE OF PAMPANGA
1. Subject to the provisions of the Constitution and
to the terms and conditions established in Act Numbered Thirty-six
hundred thirty-six, as amended by Commonwealth Act Numbered One hundred
thirty-two, there is granted to Pedro S. Limjoco, for a period of
twenty-five years from the date of approval of this Act, the right,
privilege and authority to construct, maintain and operate and electric
light, heat and power system for the purpose of generating and/or
distributing electric light, heat and/or power for sale within the
municipalities of Candaba, San Luis and San Simon, all in the Province
of Pampanga. The grantee shall further have the right and privilege to
install, lay and maintain on all streets, public thoroughfares, bridges
and public places within said limits, poles, wires, transformers,
capacitors, overhead protective devices, and pole line hardware, and
other equipment necessary for the safe distribution of electric current
to the public. |
Sec. 2. In the event that the grantee shall purchase and secure electric heat and power from the National Power Corporation, the latter is hereby authorized to negotiate and transact for the benefit and in behalf of the public consumers with reference to rates.
Sec. 3. The rates for the sale of electric light, heat and/or power shall always be subject to regulation by the Public Service Commission.
Sec. 4. In consideration of the franchise and rights hereby granted, the grantee shall pay a franchise tax equal to five per centum of the gross earnings under this franchise, three per centum of which shall accrue to the National Government and two per centum to the municipality where the franchise is being operated.
Sec. 5. Upon approval of this Act the municipal franchises granted Pedro S. Limjoco shall terminate and this franchise shall take their place.
Sec. 6. This Act shall take effect upon its approval.
Approved: June 19, 1965