SECURITIES AND EXCHANGE COMMISSION
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) February 25, 2000
BIRMINGHAM UTILITIES, INC.
(Exact name of registrant as specified in its charter)
Connecticut 0-6028 06-0878647
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
Incorporation)
230 Beaver Street, Ansonia, CT 06401-0426
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 735-1888
(Former name or former address, if changed since last report)
PAGE 2
Item 5. Other Events.
On February 25, 2000, Birmingham Utilities, Inc. (the "Company")
announced it has received a draft approval from the Department of
PublicUtility Control ("DPUC"), on the Company's application to sell
570 acres in the City of Ansonia and Town of Seymour for $6,050,000 to
The Trust for Public Land ("TPL"). Not less than 85% of this property
will be utilized for open space.
A second draft approval from the DPUC has also been received by
the Company on its application to sell a 42.5 acre parcel, adjacent to
the Ansonia Nature Center, for $200,000 to TPL who, in turn, will
convey it to the City of Ansonia as the ultimate Buyer. This property
also will be used for open space.
Birmingham Utilities, Inc. is gratified to have been privileged
to work with TPL to bring these sales to fruition. They will provide
an additional 622 acres toward the State of Connecticut's established
goal of 21% open space by the year 2023. Both sales are expected to
close during the second quarter of this year.
The Company also announced net earnings of $919,897 for 1999.
The Company's net income in 1999 was derived entirely from utility
operations and represented a 43% increase over net income derived from
utility operations in 1998. Strong water sales due to an extended dry
period in 1999, together with the Company's ability to maintain
operating expenses approximately at 1998 levels, allowed the Company
to achieve these improved results. The Company's net income in 1998,
however, had also included $3,354,240 derived from the sale of
approximately 889 acres of excess land to the City of Derby and the
Towns of Seymour and Oxford. The Company had no land sales in 1999.
Accordingly, the Company's overall 1999 net income of $919,897 was
substantially less than its 1998 net income of $3,910,793.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has caused the report to be signed on its behalf
by the undersigned hereunto duly authorized.
BIRMINGHAM UTILITIES, INC.
(Registrant)
Date: March 9, 2000 By /s/ John S. Tomac, President
John S. Tomac, President
