PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
|REPUBLIC ACT NO. 2956 - AN ACT
GRANTING IMELDA CLARIN ZARRAGA A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT
AND POWER SYSTEM IN THE MUNICIPALITY OF LOAY, PROVINCE OF BOHOL
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 Imelda Clarin
Zarraga, 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 Loay, Province of Bohol.
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 her franchise and will turn over to the Government all serviceable equipments therein, at cost, less reasonable depreciation.
Sec. 3. This Act shall take effect upon its approval.
Enacted without Executive
approval, June 19, 1960.