Section 1
SECTION 1. Subject to the conditions established in this Act, there is hereby granted to the "San Carlos Electric Light Company" hereinafter known as the grantee, a corporation duly organized under the laws of the Philippine Islands, and domiciled in the municipality of San Carlos, Province of Occidental Negros, Philippine Islands, for a period of fifty years from the approval of this Act, the right, privilege, and authority to construct, maintain, and operate an electric light, heat and power system for the purpose of generating and distributing electric light, heat and power, for sale within the limits of the municipality of San Carlos, Province of Occidental Negros, Philippine Islands. 'The grantee shall further have the right and privilege to install, lay, and maintain in, along, under, and over all public property of the municipality, including the public streets and highways, provincial roads, bridges, and public squares within said municipality all necessary apparatus and appurtenances for the transmission and distribution of electric current, and to supply, sell, and furnish such current to any individual, copartnership, private, public or quasi-public association, corporation, or joint-stock company, within the limits of said municipality for insular, provincial, municipal, domestic, or manufacturing uses, or for any other use to which electricity may be put, and to charge and collect a schedule of prices and rates for the use of electric current so furnished, which schedule of prices and rates shall at all times be subject to regulation by the Public Service Commission or its legal successor.