PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
|REPUBLIC ACT NO. 627 - AN
ACT GRANTING THE ARGAO, ELECTRIC, ICE AND WATER COMPANY A FRANCHISE FOR
AN ELECTRIC LIGHT, HEAT, AND POWER SYSTEM IN THE MUNICIPALITY OR ARGAO,
PROVINCE OF CEBU
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 Argao Electric, Ice and Water
Company, 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 Argao, Province of Cebu.
Sec. 2. It is expressly provided that in the event the Government should desire to maintain and operate for itself the plant 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. 3. This Act shall take effect upon its approval.
Approved: June 5, 1951