Republic Act No. 5915

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

Section 1

Subject to the conditions imposed by this Act, there is hereby granted to T. P. Marcelo & Co., Inc. hereinafter referred to as the grantee, a franchise to construct, operate and maintain an ice plant and cold storage and increase their capacity in the Municipality of Navotas, Province of Rizal, and to sell ice and to supply cold storage within the Province of Rizal and the City of Manila and suburbs, and to charge and collect a schedule of prices and rates for the ice and cold storage so furnished, which schedule of prices and rates shall at all times be subject to regulations by the Public Service Commission.

Section 2

The grantee shall manufacture and supply ice up to the limit of the capacity of its plant and cold storage service.

Section 3

All the apparatus and appurtenances to be used by the grantee shall be modern, safe and first class m every respect, and the grantee shall whenever the Public Service Commission shall determine that public interest reasonably requires it, change or alter any of its apparatus and appurtenances at grantee's expense.

Section 4

This franchise shall continue for a period of twenty-five years from the date said plant and cold storage shall be placed in operation or shall commence the manufacture and distribution of ice in the Province of Rizal and the City of Manila and suburbs and is made subject to the express condition that the same shall be null and void unless the construction of said plant and cold storage be begun within four years from the date of the approval of this Act and completed within six years from said date, except when prevented by an act of God, or force majeure, martial law, riot, civil commotion, usurpation by military power or any other cause beyond the grantee's control.

Section 5

The books, records and accounts of the grantee shall always be open to the inspection of the provincial treasurer or his authorized representatives, and it shall be the duty of the grantee to submit to the provincial treasurer quarterly reports in duplicate, showing the gross receipts for the quarter past, one of which shall be forwarded by the provincial treasurer to the Auditor General, who shall keep the same on file.

Section 6

This franchise is granted subject to the provisions of Commonwealth Act Numbered One hundred forty-six, as amended, only with respect to the fixing of rates and with the understanding and upon condition that it shall be subject to amendment, alteration or repeal by the Congress of the Philippines when public interest so requires. The grantee is authorized to mortgage this franchise to any bank or financing institution, whether privately-owned or owned or controlled by the Government.

Section 7

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 hereby operated.

Section 8

This Act shall take effect upon its approval.

Enacted without Executive approval, June 21, 1969.