UNITED STATES
SECURITIES AND EXCHANGE COMMISION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) December 3, 2002 |
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Commission file number 0-18516 |
ARTESIAN RESOURCES CORPORATION |
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(exact name of registrant as specified in its charter) |
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Delaware | 51-0002090 | |
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(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number) | |
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664 Churchmans Road, Newark, Delaware 19702 | ||
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Address of principal executive officers | ||
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(302) 453 - 6900 | ||
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Registrant's telephone number, including area code | ||
ARTESIAN RESOURCES CORPORATION
Item 5. - Other Events
On November 13, 2002, Artesian Water Company, Inc., the principal subsidiary of Artesian Resources Corporation, filed a petition with the Delaware Public Service Commission to implement revised temporary rates to meet a requested increase in revenue of 11.4%, or approximately $3.9 million, on an annualized basis (the "Rate Increase Petition"). These rates provide for an increase of approximately 3.88%, or $1.4 million, on an annualized basis, over the temporary rates currently in effect. While the Rate Increase Petition is pending with the Delaware Public Service Commission, we are permitted to place rate increases into effect on a temporary basis. Artesian Water placed these revised temporary rates into effect on December 3, 2002, which will remain in effect until the level of permanent rates is decided by the Delaware Public Service Commission. If this permitted temporary rate increase is determined to be in excess of rates that t he Delaware Public Service Commission ultimately deems appropriate, Artesian Water will be required to refund the excess portion plus interest to its customers.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
ARTESIAN RESOURCES CORPORATION
12/6/02 Dian C. Taylor /s/
Dian C. Taylor
President, CEO, and Chair of the Board
Artesian Resources Corporation and Subsidiaries
12/6/02 David B. Spacht /s/
David B. Spacht
Vice President, Chief Financial Officer, and Treasurer
Artesian Resources Corporation and Subsidiaries
Form 8K
