REPUBLIC ACT NO. 4062 - AN ACT GRANTING A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN CERTAIN MUNICIPALITIES IN THE 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 thirty-six, as amended by Commonwealth Act Numbered One hundred thirty-two, and to the provisions of the Constitution, there is granted to each of the municipalities of Bindoy, Jimalalod and La Libertad, all in the Province of Negros Oriental, for a period of twenty-five years from the approval of this Act, the right, privilege and authority to install maintain and operate an electric light, heat and power system for the purpose of generating and distributing electric light, heat and/or power for sale within each of the said municipalities.

SEC. 2. In the event that any of the municipalities above-mentioned shall purchase and secure from the National Power Corporation electric heat and power, the latter is hereby authorized to negotiate and transact for the benefit and in behalf of the public consumers with reference to rates.

SEC. 3. This Act shall take effect upon its approval.

Approved, June 18, 1964.