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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950116-04-002913.txt : 20040929
<SEC-HEADER>0000950116-04-002913.hdr.sgml : 20040929
<ACCEPTANCE-DATETIME>20040929134900
ACCESSION NUMBER:		0000950116-04-002913
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040924
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
FILED AS OF DATE:		20040929
DATE AS OF CHANGE:		20040929

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARTESIAN RESOURCES CORP
		CENTRAL INDEX KEY:			0000863110
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				510002090
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-18516
		FILM NUMBER:		041052201

	BUSINESS ADDRESS:	
		STREET 1:		664 CHURCHMANS RD
		CITY:			NEWARK
		STATE:			DE
		ZIP:			19702
		BUSINESS PHONE:		3024536900

	MAIL ADDRESS:	
		STREET 1:		664 CHURCHMANS RD
		CITY:			NEWARK
		STATE:			DE
		ZIP:			19702
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>eight_k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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Prepared and filed by St Ives Burrups
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<p align="center">
<b><font size=2>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549 </font></b>
</p>
<p align="center">
<b><font size=2>FORM 8-K </font></b>
</p>
<p align="center">
<b><font size=2>CURRENT REPORT </font></b>
</p>
<p align="center">
<b><font size=2>Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 </font></b>
</p>
<p>
<font size=2>Date of Report (Date of earliest event reported) September 24, 2004</font><b><font size=2> </font></b>
</p>
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   <td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><font size=2>ARTESIAN RESOURCES CORPORATION</font></b></td>
</tr>
<tr>
   <td align="center"><hr noshade size=1 width="300"></td>
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<tr>
   <td align="center"><font size=2>(Exact name of registrant as specified in its charter)</font></td>
</tr>
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  <td>&nbsp;</td>
  <td>&nbsp;</td>
  <td>&nbsp;</td>
  <td>&nbsp;</td>
  <td>&nbsp;</td>
</tr>
<tr align="center">
   <td width="30%"><font size=2>Delaware</font></td>
   <td width="5%">&nbsp;</td>
   <td width="30%"><font size=2>0-18516</font></td>
   <td width="5%">&nbsp;</td>
   <td width="30%"><font size=2>51-0002090</font></td>
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   <td><hr noshade size=1 width="200"></td>
   <td>&nbsp;</td>
   <td><hr noshade size=1 width="200"></td>
   <td></td>
   <td><hr noshade size=1 width="200"></td>
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   <td>&nbsp;&nbsp;&nbsp;<font size=2>(State or other jurisdiction of</font></td>
   <td>&nbsp;</td>
   <td><font size=2>(Commission</font></td>
   <td>&nbsp;</td>
   <td><font size=2>(IRS Employer Identification No.)</font></td>
</tr>
<tr align="center">
   <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size=2>incorporation)</font></td>
   <td>&nbsp;</td>
   <td><font size=2>File Number)</font></td>
   <td>&nbsp;</td>
   <td>&nbsp;</td>
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  <td>&nbsp;</td>
  <td>&nbsp;</td>
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   <td width="50%"><font size=2>664 Churchmans Road, Newark, Delaware</font></td>
   <td width="50%"><font size=2>19702</font></td>
</tr>
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   <td><hr noshade size=1 width="250"></td>
   <td><hr noshade size=1 width="200"></td>
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   <td>&nbsp;&nbsp;&nbsp;<font size=2>(Address of principal executive offices)</font></td>
   <td><font size=2>(Zip Code)</font></td>
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</table>
<p>
<font size=2>Registrant&#146;s telephone number, including area code: <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302-453-6900&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font>
</p>
<p><hr noshade size=1 width="100%"><p></p>
<p align="center"><font size=2>(Former name or former address, if changed since last report.) </font>
</p>
<p>
<font size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </font>
</p>
<p>
<font size=2><img src="emptybox.gif">&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font>
</p>
<p>
<font size=2><img src="emptybox.gif">&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font>
</p>
<p>
<font size=2><img src="emptybox.gif">&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font>
</p>
<p>
<font size=2><img src="emptybox.gif">&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font>
</p>

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<page>
<a name="page_2"></a>

<p>
<b><font size=2>Item 2.03&nbsp;&nbsp;&nbsp;Direct Financial Obligation or Obligation under an Off-Balance Sheet Arrangement.</font></b><font size=2> </font>
</p>
<p>
<font size=2>On September 24, 2004, Artesian Water Company, Inc., the principal subsidiary of Artesian Resources Corporation, accepted funds in the amount of $119,273 from Wilmington Trust Corporation (WTC). These funds represent a draw down on the
proceeds of our $15.4 million, 4.75%, 40 year Series Q First Mortgage Bonds issued through the Delaware Economic Development Authority (DEDA) in December 2003 to finance utility construction projects. The bond proceeds, net of bond issuance costs of
$1,181,574, are held in a restricted cash account with WTC and are drawn down upon the completion of specific capital projects, previously approved by DEDA. As of this date, we have drawn down $12,824,884 of the net bond proceeds. </font>
</p>

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<b><font size=2>SIGNATURES </font></b>
</p>
<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size=2>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 hereunto duly authorized. </font>
</p>
<table width="100%" align="center" border=0 cellspacing=0 cellpadding=0>
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   <td width="5%">&nbsp;</td>
   <td width="5%">&nbsp;</td>
   <td width="35%">&nbsp;</td>
   <td width="5%">&nbsp;</td>
   <td width="75%"><font size=2>ARTESIAN RESOURCES CORPORATION</font></td>
</tr>
<tr>
  <td>&nbsp;</td>
  <td>&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td>&nbsp;</td>
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   <td><font size=2>Date:</font></td>
   <td>&nbsp;</td>
   <td align="left"><font size=2>September 29, 2004</font></td>
   <td align="left">&nbsp;</td>
   <td><font size=2>By: /s/ Dian C. Taylor</font></td>
</tr>
<tr>
   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td><hr noshade size=1 width="125" align="left"></td>
   <td>&nbsp;</td>
   <td><hr noshade size=1></td>
</tr>
<tr>
   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td><font size=2>Dian C. Taylor</font></td>
</tr>
<tr>
   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td><font size=2>President, Chief Executive Officer and Chair of the Board</font></td>
</tr>
</table>
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  <td width="5%">&nbsp;</td>
  <td width="5%">&nbsp;</td>
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  <td width="5%" align="left">&nbsp;</td>
  <td width="75%" align="left">&nbsp;</td>
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<tr>
   <td><font size=2>Date:</font></td>
   <td>&nbsp;</td>
   <td align="left"><font size=2>September 29, 2004</font></td>
   <td align="left">&nbsp;</td>
   <td align="left"><font size=2>By: /s/ David B. Spacht</font></td>
</tr>
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   <td>&nbsp;</td>
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   <td><hr noshade size=1 width="125" align="left"></td>
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   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td><font size=2>David B. Spacht</font></td>
</tr>
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   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td>&nbsp;</td>
   <td><font size=2>Vice President, Chief Financial Officer and Treasurer</font></td>
</tr>
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