Section 1
SECTION 1. Authority is hereby granted for the construction, construction of maintenance, and operation of a dam across the Agno River, in the subprovince of Benguet, Mountain Province, at a point to be approved by the Secretary of Commerce and Police, for the use of the waters of said river for the generation and development of the power necessary for the operation of an electric light, heat, and power system an power supply system in the city of Baguio, and in the subprovince of Benguet, in said Mountain Province, and for the erection, maintenance, and operation of an electric light, heat, and power supply system with all necessary buildings, poles, wires, apparatus, and appurtenances for supplying electric current in and to the city of Baguio and in the subprovinee of Benguet, Mountain Province; and the Governor-General is hereby authorized, on behalf of the Governor-General. Government of the Philippine Islands, to other for public bidding the franchise set forth in this Act, and to grant said franchise to the best bidder, upon such terms as to percentage of gross earnings, lo be paid in lieu of Insular, provincial, and municipal taxes on the franchise or earnings thereof, which shall in no case be less than one and one-half per centum, and under such terms and conditions as in time of advertisement and manner of bidding, as he may deem proper.