PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
REPUBLIC ACTS
REPUBLIC ACT NO. 769 - AN ACT
GRANTING THE ORMOC ELECTRIC COMPANY A FRANCHISE FOR AN ELECTRIC LIGHT,
HEAT AND POWER SYSTEM IN THE CITY OF ORMOC |
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 Ormoc Electric Company, 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
City of Ormoc. Sec. 2. 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. 3. Republic Act Numbered Two hundred seventy-eight is repealed. Sec. 4. This Act shall take effect upon its approval. Approved: June 20, 1952 |
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