REPUBLIC ACT NO. 4598 - AN ACT GRANTING THE V-M-C RURAL ELECTRIC SERVICE COOPERATIVE, INC. A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE, MUNICIPALITIES OF MANAPLA, VICTORIAS AND CADIZ, ALL IN THE PROVINCE OF NEGROS OCCIDENTAL.

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 the V-M-C Rural Electric Service Coopera­tive, Inc., 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 to the public in all the barrios and rural areas in the Municipality of Victorias excluding the poblacion or town proper; in the Municipality of Manapla; and in all the barrios and rural areas in the Municipality of Cadiz excluding the poblacion or town proper, all in the Province of Negros Occidental.

SEC. 2. In the event that the grantee shall purchase and secure electric light, heat and power from the National Power Corporation, 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. It is expressly provided that should the Govern­ment desire to maintain and operate for itself the system and enterprise herein authorized, the grantee shall surren­der its franchise and turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation.

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

Approved, June 19, 1965.