Section 1
SECTION 1. Subject to the terms and conditions established in this Act and in Act Numbered Thirty-six hundred thirty-six, as amended by Commonwealth Act Numbered One hundred thirty-two, and of the provisions of the Constitution, there is granted to the Bambang Electric Company, hereinafter called the grantee, for a period of twenty-five years from the approval of this Act, the right, privilege and authority to construct, operate and maintain an electric light, heat and power system for the purpose of generating and distributing electric light, heat and/or power for sale in the Municipality of Bambang, Province of Nueva Vizcaya, and an ice plant in said municipality for the purpose of manufacturing and distributing ice in the whole Province of Nueva Vizcaya, and to charge and collect a schedule of prices and rates for the electricity and ice so furnished, which schedule of prices and rates hall at all times be subject to regulation by the Public Service Commission.