Grant of Electric Light, Heat and Power System Franchise to Francisco Borromeo
Republic Act No. 5842, enacted on June 21, 1969, grants Francisco Borromeo a 25-year franchise to install and operate an electric light, heat, and power system in Pioduran, Albay. The Act stipulates that Borromeo must pay a franchise tax of 5% on gross earnings, with portions allocated to the National Government and the local municipality. It also allows the National Power Corporation to negotiate rates on behalf of consumers if Borromeo purchases power from them. Furthermore, the government reserves the right to take over the franchise and equipment, provided Borromeo is compensated for the costs, less depreciation. The Act became effective upon approval.
Quick Answers
- What is Grant of Electric Light, Heat and Power System Franchise to Francisco Borromeo about?
- Republic Act No. 5842, enacted on June 21, 1969, grants Francisco Borromeo a 25-year franchise to install and operate an electric light, heat, and power system in Pioduran, Albay. The Act stipulates that Borromeo must pay a franchise tax of 5% on gross earnings, with portions allocated to the National Government and the local municipality. It also allows the National Power Corporation to negotiate rates on behalf of consumers if Borromeo purchases power from them. Furthermore, the government reserves the right to take over the franchise and equipment, provided Borromeo is compensated for the costs, less depreciation. The Act became effective upon approval.
- What type of law is Republic Act No. 5842?
- Grant of Electric Light, Heat and Power System Franchise to Francisco Borromeo (Republic Act No. 5842) is a Philippine Statutes enacted by the Congress of the Philippines.
- When was Grant of Electric Light, Heat and Power System Franchise to Francisco Borromeo enacted?
- Grant of Electric Light, Heat and Power System Franchise to Francisco Borromeo (Republic Act No. 5842) was enacted on Jun 21, 1969.
- What is the citation for Grant of Electric Light, Heat and Power System Franchise to Francisco Borromeo?
- Grant of Electric Light, Heat and Power System Franchise to Francisco Borromeo, Republic Act No. 5842, Jun 21, 1969 (Philippines)
Law Information
- Reference Number
- Republic Act No. 5842
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 21, 1969
REPUBLIC ACT NO. 5842
AN ACT GRANTING FRANCISCO BORROMEO A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF PIODURAN, PROVINCE OF ALBAY
SECTION 1. Subject to the provisions of the Constitution and 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, there is granted to Francisco Borromeo, for a period of twenty-five years from the approval of this Act, the right, privilege and authority to install, 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 Pioduran, Province of Albay. cd i
SECTION 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.
SECTION 3. In consideration of the franchise and rights hereby granted, the grantee shall pay a franchise tax equal to five per centum of the gross earnings for electric current sold or supplied under this franchise of which the two per centum shall accrue to the National Government and the other three per centum to the municipality where the franchise is being operated.
SECTION 4. It is expressly provided that in the event the Government should desire to maintain and operate for itself the system and enterprise herein authorized, the grantee shall surrender his franchise and turn over to the Government all serviceable equipment therein, after the grantee herein shall have been paid fully by the Government, at cost, less reasonable depreciation. aisa dc
SECTION 5. This Act shall take effect upon its approval.
Enacted without Executive approval, June 21, 1969.
Published in the Official Gazette, Vol. 66, No. 6, p. 1271 on February 9, 1970
Cite This Law
Grant of Electric Light, Heat and Power System Franchise to Francisco Borromeo, Republic Act No. 5842, Jun 21, 1969 (Philippines)
Grant of Electric Light, Heat and Power System Franchise to Francisco Borromeo, Republic Act No. 5842 (Phil. 1969)
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- Grant of Electric Light, Heat and Power System Franchise to V.B. Flores Electric Light, Inc.Republic Act No. 3803 • Jun 22, 1963 • Statutes
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