REPUBLIC ACT NO. 3240 - AN ACT GRANTING MR. JOSE A. GARCIA A FRANCHISE TO INSTALL, OPERATE AND MAINTAIN AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF MABINAY, PROVINCE OF NEGROS ORIENTAL.

[ REPUBLIC ACT NO. 3240, June 17, 1961 ]

AN ACT GRANTING MR. JOSE A. GARCIA A FRANCHISE TO INSTALL, OPERATE AND MAINTAIN AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF MABINAY, PROVINCE OF NEGROS ORIENTAL.

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 Mr. Jose A. Garcia, 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 in the Municipality of Mabinay, Province of Negros Oriental, for the purpose of generating and distributing electric light, heat and/or power for sale within the limits of said municipality.

SEC. 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.

SEC. 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 quipment therein, at cost, less reasonable depreciation.

SEC. 4. This Act shall take effect upon its approval.

Approved, June 17, 1961.