PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
REPUBLIC ACT NO. 4474 - AN ACT GRANTING MANAOAG UTILITY COMPANY, INC., A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF MANAOAG, PROVINCE OF PANGASINAN
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 Manaoag Utility Company, Inc. 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 Manaoag, Province of Pangasinan. 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, 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 grantee shall purchase and secure electric heat and power from the National Power Corporation, the latter is hereby authorized to negotiate and transact for the benefit and in behalf of the public consumers with reference to rates.
Sec. 3. The rates for the sale of electric light, heat and/or power shall always be subject to 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 all taxes and assessments of whatever authority now and in the future upon privileges, earnings, income, franchise, machinery and equipment and poles, wires, transformers, and insulators of the grantee, from which taxes and assessments the grantee is hereby expressly exempted.
Sec. 5. Upon approval of this Act, the municipal franchise granted to Manaoag Utility Company, Inc. shall terminate and this franchise shall take its place.
Sec. 6. This Act shall take effect upon its approval.
Approved: June 19, 1965