Grant of Electric Light, Heat and Power System Franchise to Talibon Business Enterprises

June 17, 1961

REPUBLIC ACT NO. 3202

AN ACT GRANTING THE TALIBON BUSINESS ENTERPRISES IN THE MUNICIPALITY OF TALIBON, PROVINCE OF BOHOL, A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM

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 the Talibon Business Enterprises, 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 in the Municipality of Talibon, Province of Bohol, for the purpose of generating and distributing electric light, heat and/or power for sale within the limits of the said municipality.

SECTION 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. aisa dc

SECTION 3. 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 its franchise and will turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation.

SECTION 4. This Act shall take effect upon its approval. aisa dc

Approved: June 17, 1961

Published in the Official Gazette, Vol. 58, No. 6, p. 1058 on February 5, 1962