An Act Granting Alfredo L. Noel a Franchise for an Electric Light, Heat and Power System in the Municipality of Compostela, Province of Davao

REPUBLIC ACT No. 1017

An Act Granting Alfredo L. Noel a Franchise for an Electric Light, Heat and Power System in the Municipality of Compostela, Province of Davao

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 distributing electric light, heat and/or power for there is granted to Alfredo L. Noel, for a period of twenty-five years from the approval of this Act, the right, privilege, and thirty-two, and to the provisions of the Constitution, light, heat and power system for the purpose of generating and authority to construct, maintain, and operate an electric sale within the Municipality of Compostela, Province of Davao.

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 12, 1954.