701—230.6 (423) Sale of electricity to water companies. The sales price from the sale of electricity to water companies assessed for property tax pursuant to Iowa Code sections 428.24, 428.26, and 428.28, which is used solely for the purpose of pumping water from a river or well is exempt from sales tax. For the purposes of this rule, “river” means a natural body of water or waterway that is commonly known as a river. “Well,” for the purposes of this rule, means an issue of water from the earth; a mineral spring; a pit or hole sunk into the earth to reach a water supply; a shaft or hole sunk to obtain oil, water, gas, etc.; or a shaft or excavation in the earth, in mining, from which run branches. Pacific Gas and Electric Company v.	Hufford, 319 P.2d 1033, 1040 (Calif.	1957), citing Webster’s New International Dictionary, 2nd ed., unabridged.
This rule is intended to implement Iowa Code section 423.3(52).