SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): January 24, 2006
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RGC RESOURCES, INC.
(Exact name of Registrant as specified in its charter)
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Virginia 000-26591 54-1909697
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
519 Kimball Ave., N.E. Roanoke, Virginia 24016
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 540-777-4427
(Former name or former address, if changed since last report)
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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 240.425)
|__| 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 13c-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On January 24, 2006, Roanoke Gas Company, a subsidiary of RGC
Resources, Inc., entered into a Promissory Note in the
principal amount of $21,000,000 in favor of Wachovia Bank,
National Association ("Wachovia"), for the purpose of
providing additional working-capital financing for operations.
This Promissory Note replaced the Promissory Note dated March
29, 2005 in the amount of $20,000,000 by Roanoke Gas Company
in favor of Wachovia. Monthly payments of accrued interest
are due under the Promissory Note until March 31, 2006, when
all outstanding principal and interest is due. The Promissory
Note is in addition to the notes issued by RGC Resources, Inc.
and Bluefield Gas Company on March 29, 2005, and Diversified
Energy Company on September 9, 2005. All notes are due and
payable on March 31, 2006.
After execution of the new Promissory Note, the total of the
available limits under all line-of- credit arrangements of RGC
Resources, Inc., and its subsidiaries with Wachovia is
$30,000,000.
ITEM 9.01. FINANCIAL STATEMENT AND EXHIBITS.
10.1 Promissory Note in the principal amount of $21,000,000 by
Roanoke Gas Company in favor of Wachovia Bank, National
Association, effective January 24, 2006.
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 hereunto duly authorized.
RGC RESOURCES, INC.
Date: January 26, 2006 By: s/Howard T. Lyon
Howard T. Lyon
Vice-President, Treasurer and Controller
(Principal Financial Officer)