An Act Granting Federico Magdañgal a Franchise for an Electric Light, Heat and Power System in the Municipality of Macabebe, Province of Pampanga

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

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 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.

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.