An Act to Grant to the Inabanga Electric Service Company a Franchise for an Electric Light, Heat, and Power System in the Municipality of Inabanga, Province of Bohol

REPUBLIC ACT No. 400

An Act to Grant to the Inabanga Electric Service Company a Franchise for an Electric Light, Heat, and Power System in the Municipality of Inabanga, Province of Bohol

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

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 Inabanga Electric Service Company, 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 limits of the municipality of Inabanga, Province of Bohol.

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.

Section 3. This Act shall take effect upon its approval.

Approved: June 18, 1949.