REPUBLIC ACT NO. 420 - AN ACT TO GRANT THE "OPON ELECTRIC SERVICE COMPANY" A FRANCHISE TO OPERATE AN ELECTRIC LIGHT, HEAT, AND POWER SYSTEM IN THE MUNICIPALITY OF OPON, PROVINCE OF CEBU.

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, there is granted to the "Opon Electric Service Company," for a period of twenty-five years from the date of the approval of this Act, the right, privilege and authority to construct, maintain and operate an electric light, heat, and power plant, for the purpose of generating and distributing electric light, heat, and power for sale within the limits of the municipality of Opon, Province of Cebu.

SEC. 2. It is expressly provided that in the event the Government should desire to maintain and operate for itself the plant and the enterprise herein authorized, the grantee shall surrender the franchise issued in its favor and shall turn over to the Government all serviceable equipment then existing upon payment of its fair cost at the time it is turned over to such Government.

SEC. 3. The municipal franchise under which the grantee is now operating an electric light, heat, and power system in the municipality of Opon, Province of Cebu, is declared null and void.

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

Approved, June 18, 1949.