Section 1
SECTION 1. Subject to the conditions established in this Act and the provisions of Act Numbered Thirty-one hundred and eight and its amendments, applicable thereto, there is hereby granted to the company known as Ilagan Electric and Ice Plant, Incorporated, for a period of fifty years from the approval of this Act, the right, privilege, and authority to construct, maintain, and operate on all the streets, public thoroughfares, and public places within the limits of the municipality of Ilagan, Isabela, poles, wires, and all other necessary apparatus and appurtenances for the transmission and distribution of electric current for electric power, heat, and light and any other use to which electricity may be put, and to furnish electric power, heat, and light within said municipality of Ilagan, Province of Isabela, for municipal, domestic, or manufacturing uses and for any other use to which electricity may be put, and to charge and collect a schedule of prices and conventional rates for the use of same: Provided, That said prices shall always be subject to rules provided by act of the Philippine Legislature or by the entities or authorities authorized by law, and shall in no case exceed thirty centavos per kilowatt.