DEBT (Tables)

12 Months Ended

Dec. 31, 2023

DEBT [Abstract]

Schedule of Long-term debt

Long-term debt consists of:

	December 31,
In thousands	2023		2022
First mortgage bonds
Series R, 5.96%, due December 31, 2028	$	25,000	$	25,000
Series S, 4.45%, due December 31, 2033		6,000		6,600
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		30,000
		156,000		156,600
State revolving fund loans
3.57%, due September 1, 2023		—		102
3.64%, due May 1, 2025		228		373
3.41%, due February 1, 2031		1,415		1,577
3.40%, due July 1, 2032		1,445		1,590
1.187%, due November 1, 2041		588		617
1.187%, due November 1, 2041		690		724
1.187%, due November 1, 2041		1,075		1,128
2.00%, due February 1, 2043		828		846
2.00%, due February 1, 2043		1,143		974
2.00%, due June 1, 2043		1,002		1,044
2.00%, due June 1, 2043		1,022		—
2.00%, due February 1, 2044		2,696		—
2.00%, due January 1, 2043		1,000		—
		13,132		8,975
Notes Payable
Promissory Note, 5.12%, due December 30, 2028	$	10,155	$	10,478
Asset Purchase, 2.00%, due May 26, 2027		1,255		1,569
		11,410		12,047
Sub-total		180,542		177,622
Less: current maturities (principal amount)		2,235		2,003
Total long-term debt	$	178,307	$	175,619

Future Minimum Payments

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

In thousands	2024		2025		2026		2027		2028		Thereafter
First Mortgage bonds	$	600	$	600	$	600	$	600	$	25,600	$	128,000
State revolving fund loans		756		852		794		813		834		9,083
Asset Purchase-Contractual Obligation		314		314		314		313		—		—
Promissory note		565		480		505		532		559		7,514
Total payments	$	2,235	$	2,246	$	2,213	$	2,258	$	26,993	$	144,597

Substantially all of Artesian Water’s utility plant is pledged as security for our First Mortgage Bonds.  As of December 31, 2023, 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.