Grant of Franchise to Leopoldo de la Cruz (Electric Light, Heat and Power System)

June 15, 1954

REPUBLIC ACT NO. 1115

AN ACT GRANTING LEOPOLDO DE LA CRUZ A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF PONTEVEDRA, PROVINCE OF CAPIZ

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 Leopoldo de la Cruz, 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 for the purpose of generating and distributing electric light, heat, and/or power of sale within the municipality of Pontevedra, Province of Capiz.

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 maintain and operate 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 15, 1954 cdt

Published in the Official Gazette, Vol. 50, No. 8, p. 3448 in August 1954