DEBT (Tables)

12 Months Ended

Dec. 31, 2020

DEBT [Abstract]

Schedule of Long-term debt

Long-term debt consists of:

	December 31,
In thousands	2020		2019
First mortgage bonds
Series R, 5.96%, due December 31, 2028	$	25,000	$	25,000
Series S, 4.45%, due December 31, 2033		7,800		8,400
Series T, 4.24%, due December 20, 2036		40,000		40,000
Series U, 4.71%, due January 31, 2038		25,000		25,000
Series V, 4.42%, due October 31, 2049		30,000		30,000
		127,800		128,400
State revolving fund loans
4.48%, due August 1, 2021		318		622
3.57%, due September 1, 2023		294		385
3.64%, due May 1, 2025		648		778
3.41%, due February 1, 2031		1,887		2,034
3.40%, due July 1, 2032		1,864		1,995
		5,011		5,814
Notes Payable
Promissory Note, 5.12%, due December 30, 2028		11,279		11,648
Sub-total		144,090		145,862
Less: current maturities (principal amount)		1,757		1,706
Total long-term debt	$	142,333	$	144,156

Future Minimum Payments

Payments of principal amounts due during the next five years and thereafter:

In thousands	2021		2022		2023		2024		2025		Thereafter
First Mortgage bonds	$	600	$	600	$	600	$	600	$	600	$	124,800
State revolving fund loans		767		533		552		466		404		2,289
Promissory note		390		411		433		454		480		9,111
Total payments	$	1,757	$	1,544	$	1,585	$	1,520	$	1,484	$	136,200

Substantially all of Artesian Water's utility plant is pledged as security for our First Mortgage Bonds.  As of December 31, 2020, no other water utility plant has been pledged as security for loans.  Two parcels of land in Artesian Wastewater are pledged as security for the promissory note.