Commonwealth Act No. 487

 

 

AN ACT

TO GRANT THE COTABATO LIGHT AND POWER COMPANY, INCORPORATED, A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT, AND POWER SYSTEM IN COTABATO, COTABATO

 

Be it enacted by the National Assembly of the Philippines:

 

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 Cotabato Light and Power Company, Incorporated, 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 plant for the purpose of generating and distributing electric light, heat, and/or power for sale within the limits of the municipality of Cotabato, Province of Cotabato.

 

SEC. 2.  It is expressly provided that in the event the Government should desire to maintain and operate for itself the plant and enterprise herein authorized, the grantee should surrender its franchise and will turn over to the Government all serviceable equipments therein, at cost.

 

SEC. 3.  The municipal franchise under which the grantee is now operating an electric light, heat, and power plant in Cotabato, Cotabato, is declared null and void.

 

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

 

Enacted without Executive approval, June 18, 1939

 

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