Republic Act No. 4556

Subject to the terms and conditions established in this Act and in Act Numbered Thirty-six hundred and thirty-six, as amended by Commonwealth Act Numbered One hundred and thirty-two; Commonwealth Act Numbered One hundred and forty-six, as amended, and to the provisions of the Constitution, there is granted to Louber Enterprises, 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, in the municipalities of San Fernando, Pampanga, Pamplona, and Cabusao, and such other municipalities not presently being served in the Province of Camarines Sur and to charge and collect a schedule of prices and rates for the electricity so furnished, which schedule shall be subject to regulation by the Public Service Commission.

In the event that the grantee shall purchase and secure electric light, 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.

In consideration of the franchise and rights hereby granted, the grantee shall pay a franchise tax equal to five per centum of the gross earnings under this franchise, three per centum of which shall accrue to the National Government and two per centum to the municipality where the franchise is being operated.

This Act shall take effect upon its approval.