Franchise for Ice Plant in Barotac Nuevo Iloilo

Section 1 grants to Manuel B. Soriano the right, privilege, and authority to construct, maintain, and operate an ice plant and cold storage.
The franchise is for a period of twenty-five years from the approval of Republic Act No. 4608.
The franchise covers operations in the Municipality of Barotac Nuevo, Province of Iloilo.
The franchise is granted for manufacturing ice for distribution and sale, and for supplying cold storage therein.

Section 1 makes the franchise subject to the terms and conditions of Commonwealth Act No. 146, as amended.
Section 1 requires that the grantee’s schedule of prices and rates be subject to regulation by the Public Service Commission or its legal successor.
Section 2 requires the grantee to sell ice at rates determined by the Public Service Commission.
Section 2 requires the grantee to manufacture and supply ice up to a capacity limit to be determined by the Public Service Commission.

Section 1 authorizes the manufacture of ice for distribution and sale.
Section 1 authorizes supplying cold storage within the cold storage facilities.
Section 2 limits the grantee’s production to the plant’s determined capacity.
Section 2 limits sales to rates determined by the Public Service Commission.
Section 1 allows the grantee to charge and collect a schedule of prices and rates, subject to regulatory control.

Section 3 requires all apparatus and appurtenances used by the grantee to be modern, safe, and first class in every respect.
Section 3 requires the grantee to change or alter apparatus and appurtenances at the grantee’s expense when the Public Service Commission determines that public interest reasonably requires it.

Section 4 requires the grantee to commence construction of the ice plant and cold storage within two years from approval of Republic Act No. 4608.
Section 4 provides that the franchise becomes null and void if construction is not commenced within two years.
Section 4 prevents nullity when delay is due to act of God or force majeure, martial law, riot, civil commotion, usurpation by a military power, or any other cause beyond the grantee’s control.

Section 5 states that the franchise is granted subject to amendment, alteration, or repeal by Congress when public interest so requires.

Section 6 requires that the grantee’s books, records, and accounts remain open to inspection by the Auditor General or authorized representatives.
Section 6 requires the grantee to submit to the Auditor General quarterly reports in duplicate showing the gross receipts for the quarter.

Section 7 requires the grantee to pay a franchise tax equal to 5% of gross earnings under the franchise.
Section 7 allocates 3% of the gross earnings as accruing to the National Government.
Section 7 allocates 2% of the gross earnings to the Municipality of Barotac Nuevo, where the franchise is operated.