Authority to Esteban De La Rama to Transfer Franchise (Electric Light, Heat and Power Plant)

March 9, 1922

ACT NO. 3035

AN ACT AUTHORIZING ESTEBAN DE LA RAMA TO TRANSFER HIS FRANCHISE TO INSTALL, MAINTAIN, AND OPERATE AN ELECTRIC LIGHT, HEAT, AND POWER PLANT IN THE MUNICIPALITIES OF LA PAZ, JARO, AND AREVALO, PROVINCE OF ILOILO

SECTION 1. Subject to the same conditions as established in Act Numbered Twenty-nine hundred and eighty-three, Esteban de la Rama is hereby authorized to transfer all rights and privileges to install, maintain, and operate an electric light, heat, and power plant in the municipalities of La Paz, Jaro, and Arevalo, Province of Iloilo, to the Panay Electric Company, corporation duly organized under existing law.

The new grantee to whom said franchise is transferred shall be subject to the terms and conditions prescribed by said Act Numbered Twenty-nine hundred and eighty-three for the maintenance and operation of the plant and system, for the transmission and distribution of electric current, and to such reasonable rules relating thereto as the municipal councils of the municipalities named in the preceding section may promulgate.

SECTION 2. Upon authorization by the Executive Bureau, the Province of Iloilo and the municipalities thereof are hereby authorized to purchase shares of stock of the aforesaid corporation and hold the same for the benefit of said province and municipalities concerned.

SECTION 3. This Act shall take effect on its approval.

Approved, March 9, 1922.