Section 1Sec./Art. 1

Nature and Scope of Franchise. - Subject to the provisions of the Constitution and applicable laws, rules and regulations, there is hereby granted to the V.G. Sinco Educational Corporation (Foundation University), hereunder referred to as the grantee, its successors or assigns, a franchise to construct, install, establish, operate and maintain for educational, cultural as well as commercial purposes and in the public interest, radio broadcasting station in Dumaguete City, with the corresponding technological auxiliaries or facilities, special broadcast and other program and distribution services and relay stations.