DEBT (Tables)

12 Months Ended

Dec. 31, 2022

DEBT [Abstract]

Schedule of Long-term debt

Long-term debt consists of:

	December 31,
In thousands	2022		2021
First mortgage bonds
Series R, 5.96%, due December 31, 2028	$	25,000	$	25,000
Series S, 4.45%, due December 31, 2033		6,600		7,200
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
Series W, 4.43%, due April 30, 2047		30,000		—
		156,600		127,200
State revolving fund loans
3.57%, due September 1, 2023		102		200
3.64%, due May 1, 2025		373		513
3.41%, due February 1, 2031		1,577		1,735
3.40%, due July 1, 2032		1,590		1,729
1.187%, due November 1, 2041		617		646
1.187%, due November 1, 2041		724		758
1.187%, due November 1, 2041		1,128		1,181
2.00%, due February 1, 2043		846		—
2.00%, due February 1, 2043		974		—
2.00%, due June 1, 2043		1,044		—
		8,975		6,762
Notes Payable
Promissory Note, 5.12%, due December 30, 2028	$	10,478	$	10,888
Asset Purchase, 2.00%, due May 26, 2027		1,569		—
		12,047		10,888
Sub-total		177,622		144,850
Less: current maturities (principal amount)		2,003		1,591
Total long-term debt	$	175,619	$	143,259

Future Minimum Payments

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

In thousands	2023		2024		2025		2026		2027		Thereafter
First Mortgage bonds	$	600	$	600	$	600	$	600	$	600	$	153,600
State revolving fund loans		656		702		643		581		597		5,796
Asset Purchase-Contractual Obligation		314		314		314		314		313		—
Promissory note		433		454		480		505		532		8,074
Total payments	$	2,003	$	2,070	$	2,037	$	2,000	$	2,042	$	167,470

Substantially all of Artesian Water’s utility plant is pledged as security for our First Mortgage Bonds.  As of December 31, 2022, 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.