Section 1
SECTION 1. Subject to the conditions imposed by this Act, there is hereby granted to Central Mindanao Enterprise, hereinafter referred to as the grantee, a franchise to construct, and maintain ice plants and cold storage in the City of Butuan and the municipalities of Cabadbaran, Bunawan, Bayugan and Prosperidad, all in the Province of Agusan, for the purpose of manufacturing and distributing ice and supplying cold storage within said city and municipalities and to charge and collect a schedule of prices and rates for the ice and cold storage so furnished, which schedule of prices and rates shall at all times, be subject to the regulation by the Public Service Commission: Provided, That the price of ice so sold shall not exceed seven centavos a kilo.