AN ACT TO REHABILITATE THE ORMOC ELECTRIC COMPANY, ORGANIZED UNDER ACT NUMBERED TWENTY-SEVEN HUNDRED AND SEVENTY, BY EXTENDING THE TERM OF ITS FRANCHISE TO TWENTY-FIVE YEARS FROM THE DATE OF ITS EXPIRATION ON MARCH FOUR, NINETEEN HUNDRED AND FIFTY-THREE

AN ACT AUTHORIZING THE SALE, TRANSFER AND CONVEYANCE TO THE ORMOC ELECTRIC COMPANY, INC., OF THE FRANCHISE, AND ALL THE PROPERTIES AND RIGHTS ACQUIRED THEREUNDER, OF THE ORMOC ELECTRIC COMPANY, GRANTED UNDER REPUBLIC ACT NUMBERED SEVEN HUNDRED SIXTY-NINE, AND FIXING THE FRANCHISE TAX TO BE PAID BY THE TRANSFEREE.