PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
REPUBLIC ACT NO. 3204 - AN ACT GRANTING THE MUNICIPALITY OF CORTES, PROVINCE OF SURIGAO, A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM
|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 Municipality of Cortes, Province of Surigao, 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/or power for sale within the limits of the said
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. 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. 4. This Act shall take effect upon its approval.
Approved: June 17, 1961