Grant of Franchise to Butuan Sawmill, Inc. (Electric Light, Heat and Power System)

June 12, 1950

REPUBLIC ACT NO. 497

AN ACT GRANTING THE BUTUAN SAWMILL, INCORPORATED, A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF NASIPIT, PROVINCE OF AGUSAN

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 Butuan Sawmill, Incorporated, for a period of fifty 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 municipality of Nasipit, Province of Agusan: 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. cdt

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

SECTION 3. This Act shall take effect upon its approval. aisa dc

Approved: June 12, 1950

Published in the Official Gazette, Vol. 46, No. 8, p. 3550 in August 1950