UNITED STATES
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) September 10, 2008
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SJW Corp.
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(Exact name of registrant as specified in its charter)
California 1-8966 77-0066628
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
110 W. Taylor Street, San Jose, California 95110
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(Address of principal executive offices) (Zip Code)
(408) 279-7800
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Registrant's telephone number, including area code
Not Applicable
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(Former name or former address, if changed since last report)
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:
[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2
(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On September 10, 2008, SJWTX, Inc., a subsidiary of SJW Corp., entered
into (i) a Regional Water Supply and Service Area Transfer Agreement
with the City of Bulverde, Texas (the "City"), and (ii) an Asset Purchase
Agreement with the Guadalupe-Blanco River Authority, a conservation and
reclamation district and political subdivision of the state of Texas("GBRA").
Pursuant to such agreements, (i) SJWTX, Inc. agreed to acquire from the
City and GBRA the right and obligation to provide water service within the
retail water service area of the City, and certain areas outside the City
("Bulverde Service Area"), and substantially all of the retail water service
assets of GBRA associated with GBRA's existing facilities located within such
service area, and (ii) GBRA and the City agreed to terminate three existing
agreements by which GBRA had a long term right to construct and operate a
retail water system within such service area (the "Transactions"). The
purchase price for such assets is approximately $3,200,000 to GBRA and
approximately $900,000 to the City, comprised of both cash and the payoff
of certain existing liabilities of the City. The Transactions are subject
to certain closing conditions, including the approval by the Texas Commission
on Environmental Quality.
SJWTX, Inc. currently provides water service to an area of approximately
152 square miles, adjacent to the Bulverde Service Area. The addition of
the Bulverde Service Area will increase the retail area served by SJWTX,
Inc. to approximately 235 square miles, an increase of more than 54%. At
closing, there will not be an appreciable increase in the number of new
water service connections as part of the Transactions. Given the Bulverde
area's planned development and proximity to San Antonio, expansion of
SJWTX, Inc.'s retail business into this area should improve its annual
growth in new 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.
SJW Corp.
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September 10, 2008 /s/ David A. Green
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David A. Green,
Chief Financial Officer and
Treasurer