REPUBLIC ACT NO. 5808 - AN ACT GRANTING MARCELA VDA. DE MARCON A FRANCHISE FOR AN ELECTRIC LIGHT AND POWER SYSTEM IN THE MUNICIPALITY OF BUENAVISTA, PROVINCE OF AGUSAN
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 Marcela Vda. de Marcon, for a period
of twenty-five years from the approval of this Act, the right,
privilege and authority to install, maintain and operate an electric
light and power system for the purpose of generating and distributing
electric light, heat and/or power for sale in the Municipality of
Buenavista, Province of Agusan. |
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. If the grantee shall not commence operation in the Municipality of Buenavista, Province of Agusan, within two years from the approval of this Act, unless prevented by an act of God or force majeure, martial law, riot, civil commotion, usurpation by military power or any other cause beyond the grantee's control, this franchise shall be null and void.
Sec. 4. It is expressly that, in the event the Government should desire to maintain and operate for itself the system and enterprise herein authorized, the grantee shall surrender her franchise and will turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation.
Sec. 5. In consideration of this franchise the grantee shall pay a tax equivalent to five per cent of her gross income.
Sec. 6. This Act shall take effect upon its approval.
Enacted without Executive
approval, June 21, 1969.