PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
REPUBLIC ACT NO. 4043 - AN ACT GRANTING A. LUMANLAN AND SONS, INC., A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF SURIGAO, PROVINCE OF SURIGAO DEL NORTE
1. Subject to the provisions of the Constitution and
to the terms and conditions established in Act Numbered Thirty-six
hundred thirty-six, as amended by Commonwealth Act Numbered One hundred
thirty-two, there is granted to A. Lumanlan and Sons, Inc., a
corporation duly organized and existing under the laws of the Republic
of the Philippines, for a period of twenty-five years from the date of
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/or distributing electric light, heat and/or
power for sale within the Municipality of Surigao, Province of Surigao
del Norte. The grantee shall further have the right and privilege to
install, lay and maintain on all streets, public thoroughfares, bridges
and public places within said limits, poles, wires, transformers,
watt-hour meters, capacitors, overhead protective devices, and pole
line hardware, and other equipment necessary for the safe distribution
of electric current to the public.
Sec. 2. In the event that the National Power Corporation shall have established its line in the areas adjacent to or over the territory covered by this franchise, the National Power Corporation may make available its power and heat only after negotiation with and through or with the authority and consent of the grantee.
Sec. 3. The rates for the sale of electric light, heat and/or power shall always be subject to the regulation by the Public Service Commission.
Sec. 4. In consideration of the franchise and rights-hereby granted, the grantee shall pay a franchise tax equal to two per centum of the gross earnings for electric current sold under this franchise: provided, that the said franchise tax of two per centum of the gross earnings shall be in lieu of any and all taxes, imposts, levies and assessments of whatever nature by any authority whatsoever, whether national, provincial or municipal, now in the future upon privileges, earnings, income, franchise, machinery and equipment, poles, wires, transformers, watt-hour meters, and insulators of the grantee, from which taxes, imposts, levies and assessments the grantee is hereby expressly exempted.
Sec. 5. All Acts or parts of Acts inconsistent with the provisions of this Act are hereby repealed.
Sec. 6. This Act shall take effect upon its approval.
Approved: June 18, 1964