PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
REPUBLIC ACTS
REPUBLIC ACT NO. 5993 - AN
ACT GRANTING EUSEBIO G. BERNALES, SR. A FRANCHISE TO INSTALL, OPERATE
AND MAINTAIN AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM, AND AN ICE PLANT
IN THE MUNICIPALITY OF BACOLOD, PROVINCE OF LANAO DEL NORTE
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Section
1. Subject to the provisions of the Constitution and
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, there is granted to Eusebio G. Bernales, Sr., for a period
of twenty-five years from the approval of this Act, the right,
privilege and authority to construct, operate and maintain an electric
light, heat and power system, and an ice plant for the purpose of
generating and distributing electric light, heat and/or power, and for
manufacturing ice for sale within the Municipality of Bacolod, Province
of Lanao del Norte. The grantee shall further have the right and
privilege to install, lay and maintain on all streets, public
thoroughfares, 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 subject to the approval of the Public Service Commission. Sec. 3. The grantee shall be liable to pay the same taxes, unless exempted therefrom, on his business, real estate, buildings, and personal property, exclusive of this franchise, as other persons or corporations are now or hereafter may be required by law to pay. Sec. 4. In consideration of this franchise the grantee shall pay a tax equivalent to five per cent of his gross income. Sec. 5. This Act shall take effect upon its approval. Enacted without Executive
approval, August 4, 1969. |
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