PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES
REPUBLIC ACTS
| REPUBLIC ACT NO. 499 - AN
ACT GRANTING P. FAGUTAO A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND
POWER SYSTEM IN THE MUNICIPALITIES OF JIMENEZ AND SINACABAN, PROVINCE
OF MISAMIS OCCIDENTAL |
| 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 P. Fagutao 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 municipalities of
Jimenez and Sinacaban, Province of Misamis Occidental: Provided, That
the holder of the franchise herein granted shall start operation
thereof within one and one-half years from the approval of said
franchise if he is not an actual operator; and within six months if he
is already a holder of a municipal franchise. Failure to comply with
this requirement shall ipso facto cancel and void the
franchise. 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 the franchise and will turn over to the Government all serviceable equipment therein, at cost. Sec. 3. This Act shall take effect upon its approval. Approved: June 12, 1950 |