[ Act No. 3035, March 09, 1922 ]

AN ACT AUTHORIZING ESTEBAN DE LA RAMA TO TRANSFER HIS FRANCHISE TO INSTALL, MAINTAIN, AND OPERATE AN ELECTRIC LIGHT, HEAT, AND POWER PLANT IN THE MUNICIPALITIES OF LA PAZ, JARO, AND AREVALO, PROVINCE OF ILOILO

Be  it enacted by the Senate and  House of Representatives of the Philippines in Legislature assembled and by the authority of the same:SECTION 1. Subject to the same conditions as established in Act Numbered Twenty-nine hundred  and eighty-three, Esteban de  la Rama is hereby authorized to transfer  all rights and privileges to  install, maintain, and  operate an electric  light, heat, and power plant in the  municipalities of La Paz,  Jaro, and  Arevalo, Province of  Iloilo, to the Panay  Electric  Company,  a  corporation duly  organized under existing law.The new grantee to  whom said franchise  is transferred shall be subject to the terms and conditions prescribed by the said Act Numbered Twenty-nine hundred and eighty-three for the maintenance and operation of the plant and system, for  the  transmission and  distribution  of electric  current, and to such reasonable rules relating thereto as the municipal councils of the municipalities named in the preceding section  may promulgate.SEC. 2. Upon  authorization by the Executive  Bureau, the  Province of Iloilo and the municipalities thereof are hereby authorized to pin-chase shares of stock of the aforesaid corporation and hold the same for the benefit of said province and  municipalities  concerned.SEC. 3. This Act shall take effect on its approval.Approved, March 9, 1922.

Source: Supreme Court E-Library