H. No. 2961 / 58 OG No. 5, 851 (January 29, 1962)

[ REPUBLIC ACT NO. 3184, June 17, 1961 ]

AN ACT GRANTING THE BULAN ELECTRIC AND ICE PLANT, INC., A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF BULAN, PROVINCE OF SORSOGON.

Be it enacted by the Senate and House of Representatives of the Philippines in 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 Bulan Electric and Ice Plant, Inc., 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 system for the purpose of generating and distributing electric light, heat and/or power for sale within the Municipality of Bulan, Province of Sorsogon.

SEC. 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 its franchise and will turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation.

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

Approved, June 17, 1961

Source: Supreme Court E-Library