Grant of Electric Light, Heat and Power System Franchise to Federico Magdañgal
Republic Act No. 3243, approved on June 17, 1961, grants Federico Magdagal a 50-year franchise to construct, operate, and maintain an electric light, heat, and power system in Macabebe, Pampanga. The act stipulates that the National Power Corporation may negotiate rates for electricity purchased by the grantee on behalf of consumers. Additionally, if the government decides to take over the operation of the system, Magdagal must surrender the franchise and transfer all serviceable equipment at cost, minus reasonable depreciation. The act took effect upon its approval and was published in the Official Gazette on February 12, 1962.
June 17, 1961
REPUBLIC ACT NO. 3243
AN ACT GRANTING FEDERICO MAGDAÑGAL A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF MACABEBE, PROVINCE OF PAMPANGA
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 Federico Magdañgal, for a period of fifty years from the approval of this Act, the right, privilege and authority to construct, operate and maintain 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 Macabebe, Province of Pampanga. cd
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.
SECTION 3. It is expressly provided that in the event the government should desire to operate and maintain for itself the system 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.
SECTION 4. This Act shall take effect upon its approval.
Approved: June 17, 1961
Published in the Official Gazette, Vol. 58, No. 7, p. 1286 on February 12, 1962