Republic Act No. 1347

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REPUBLIC ACTS




REPUBLIC ACT NO. 1347
REPUBLIC ACT NO. 1347 - AN ACT TO GRANT TO DOMINGO FORTUNA A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF CANDON, PROVINCE OF ILOCOS SUR
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 Domingo Fortuna 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 Municipality of Candon, Province of Ilocos Sur.

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.cralaw

Sec. 3. It is expressly provided that, in the event the Government should desire to maintain and operate for itself the plant 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 18, 1955

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