secwatch.observer — SEC 8-K summary
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Issuer:     ARTESIAN RESOURCES CORP (ARTNA)
CIK:        0000863110
Form:       8-K
Filed at:   2022-12-12T23:59:59+00:00
Accession:  0000863110-22-000073
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Artesian Resources subsidiary enters $2.99M in loans at 2% for water main replacements
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- Total loan amounts of $901,170, $1,042,695, and $1,050,000 (aggregate ~$2.99M) from Delaware Drinking Water State Revolving Fund.
- Interest rate of 1.0% plus 1.0% admin fee (2.0% total); semiannual Fee payments begin June 1, 2023; principal payment deferred until project completion.
- Two notes mature June 1, 2043; one note matures December 1, 2043.
- Proceeds finance costs of replacing water transmission mains in New Castle County, Delaware.
- Subsidiary issued General Obligation Notes under customary covenants; events of default include nonpayment, bankruptcy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/863110/000086311022000073/0000863110-22-000073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/863110/000086311022000073/srf.htm
  HTML page:      https://secwatch.observer/filing/0000863110-22-000073

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