R.A. No. 853, AN ACT GRANTING MATEO AUAYAN A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF BUENAVISTA, PROVINCE OF ILOILO
REPUBLIC ACT NO. 853
AN ACT GRANTING MATEO AUAYAN A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF BUENAVISTA, PROVINCE OF ILOILO
Section 1. Subject to the terms and conditions established in Act Numbered Thirty-six hundred and thirty-six, amended by Commonwealth Act Numbered One hundred and thirty-two, and to the provisions of the Constitution, there is granted to Mateo Auayan, 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 for sale within the municipality of Buenavista, Province of Iloilo.
Section 2. 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 3. This Act shall take effect upon its approval.
Approved, May 28, 1953.