REPUBLIC ACT NO. 4459 - AN ACT GRANTING CASIMIRO S. SISON, JR. A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF POZORRUBIO, PROVINCE OF PANGASINAN.

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. Subject to the provisions of the Constitution and to the terms and conditions established in Act Numbered Thirty-six hundred thirty-six, as amended by Commonwealth Act Numbered One hundred thirty-two, there is granted to Casimiro S. Sison, Jr., for a period of twenty-five years from the date of approval of this Act, the right, privilege and authority to construct, maintain and operate an electric light, heat and power system for the purpose of generating and/or distributing electric light, heat and/or power for sale within the Municipality of Pozorrubio, Province of Pangasinan. The grantee shall further have the right and privilege to install, lay and maintain on all streets, public thoroughfares, bridges and public places within said limits, poles, wires, transformers, capacitors overhead protective devices, and pole line hardware, and other equipment necessary for the safe distribution of electric current to the public.

SEC. 2. In the event that the National Power Corporation shall have established its lines in the areas adjacent to or over the territory covered by this franchise the National Power Corporation may make available its power and heat only after negotiation with and through or with the authority and consent of the grantee.

SEC. 3. In consideration of the franchise and rights hereby granted, the grantee shall pay a franchise tax equal to two per centum of the gross earnings for electric current sold under this franchise: Provided, That the said franchise tax of two per centum of the gross earnings shall be in lieu of all taxes and assessments of whatever authority now and in the future upon privileges, earnings, income, franchise, machinery and equipment, poles, transformers and insulators of the grantee from which taxes and assessments the grantee is hereby expressly exempted.

SEC. 4. Upon approval of this Act, the municipal franchise granted to Casimiro S. Sison, Jr. shall terminate and this franchise shall take its place.

SEC. 5. This Act shall take effect upon its approval.

Approved, June 19, 1965.