PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES
REPUBLIC ACTS
REPUBLIC ACT NO. 1550 - AN ACT TO
GRANT TO DOMINGO VELOSO OF TABANGO, LEYTE, A FRANCHISE FOR AN ELECTRIC
LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF TABANGO, PROVINCE
OF LEYTE |
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 Domingo Veloso of Tabango, Leyte, 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 plant for the purpose of generating and
distributing electric light, heat and/or power for sale within the
limits of the Municipality of Tabango, Province of Leyte. 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 plant and enterprise herein authorized, the grantee shall surrender his 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 it
approval. Approved: June 16, 1956 |