<SEC-DOCUMENT>0000863110-14-000021.txt : 20141006
<SEC-HEADER>0000863110-14-000021.hdr.sgml : 20141006
<ACCEPTANCE-DATETIME>20141006161229
ACCESSION NUMBER:		0000863110-14-000021
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140930
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20141006
DATE AS OF CHANGE:		20141006

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:		141143039

	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
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<DESCRIPTION>ARTESIAN RESOURCES CORP 8K
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 UNITED STATES</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Washington, D.C. 20549</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">FORM 8-K</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">CURRENT REPORT</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: center">Date of Report (Date of earliest event reported): September 30, 2014</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><u>ARTESIAN RESOURCES CORPORATION</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: center">(Exact name of registrant as specified in its charter)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: center">Delaware</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: center">664 Churchmans Road, Newark, Delaware</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: center">19702</div>
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<div style="MARGIN-BOTTOM: 5pt; FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 5pt">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 (see General Instruction A.2. below):</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font> Written communications pursuant to Rule 425 under the Securities Act</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font> Soliciting material pursuant to Rule 14a-12 under the Exchange Act</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Item 8.01&#160; Other Events</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: justify">On September 30, 2014, the United States District Court for the Eastern District of Pennsylvania (the "Court") issued an Order regarding the complaint filed on December 22, 2010 by Artesian Water Company, Inc. ("Artesian Water"), the principal subsidiary of Artesian Resources Corporation ("Artesian Resources"), against Chester Water Authority ("CWA"). The complaint claimed breach of contract, unjust enrichment, and requested declaratory judgment in relation to an interconnection agreement with CWA to supply bulk water supplies to Artesian Water.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: justify">The Order of the Court states that:</div>

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<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: justify">The Addendum to the Interconnection Agreement between Artesian Water and CWA is a valid and enforceable contract by which CWA agreed to supply, and Artesian Water agreed to purchase, bulk water supplies (the "Supplies").</div>
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<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: justify">CWA's calculation of rate increases for the Supplies in 2008, 2009, and 2010 were valid.</div>
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<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: justify">Artesian Water is required to pay CWA amounts withheld related to CWA rate increases from 2008, 2009, and 2010 totaling approximately $3.1 million.</div>
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<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: justify">Artesian Water is not required to pay a 10% late fee totaling approximately $300,000 on the amounts withheld related to CWA rate increases from 2008, 2009, and 2010.</div>
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<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: justify">CWA shall file documentation no later than October 14, 2014 supporting the total amount of its damages in connection with Artesian Water's failure to pay for Supplies purchased beginning on July 1, 2010 at the rate then charged by CWA.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: justify">With regard to the third order above, the approximately $3.1 million withheld from Artesian Water's previous payments to CWA were accrued by Artesian Water when invoiced by CWA and the total is reflected in the accrued expenses on Artesian Resources Consolidated Balance Sheet.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: justify">If awarded by the Court, estimated pre-judgment interest related to amounts withheld would be approximately $400,000 (6% per annum on outstanding amounts withheld by Artesian Water).&#160; Any pre-judgment interest would be expensed.</div>

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<div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-WEIGHT: bold">SIGNATURES<font style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif"><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: left">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.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: left">ARTESIAN RESOURCES CORPORATION</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: left">Date: October 6, 2014</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: left">By:&#160; &#160;&#160;/s/ David B. Spacht</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: left">David B. Spacht</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; TEXT-ALIGN: left">Chief Financial Officer</div>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
