DEBT (Tables)

12 Months Ended

Dec. 31, 2024

DEBT [Abstract]

Schedule of Long-term debt

Long-term debt consists of:

	December 31,
In thousands	2024		2023
First mortgage bonds
Series R, 5.96%, due December 31, 2028	$	25,000	$	25,000
Series S, 4.45%, due December 31, 2033		5,400		6,000
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
		155,400		156,000
State revolving fund loans
3.57%, due September 1, 2023		—		—
3.64%, due May 1, 2025		77		228
3.41%, due February 1, 2031		1,246		1,415
3.40%, due July 1, 2032		1,296		1,445
1.187%, due November 1, 2041		559		588
1.187%, due November 1, 2041		655		690
1.187%, due November 1, 2041		1,021		1,075
2.00%, due February 1, 2043		793		828
2.00%, due February 1, 2043		1,095		1,143
2.00%, due June 1, 2043		960		1,002
2.00%, due June 1, 2043		978		1,022
2.00%, due February 1, 2044		3,086		2,696
2.00%, due January 1, 2043		978		1,000
		12,744		13,132
Notes Payable
Promissory Note, 5.12%, due December 30, 2028	$	9,590	$	10,155
Asset Purchase, 2.00%, due May 26, 2027		942		1,255
		10,532		11,410
Sub-total		178,676		180,542
Less: current maturities (principal amount)		2,167		2,235
Total long-term debt	$	176,509	$	178,307

Future Minimum Payments

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

In thousands	2025		2026		2027		2028		2029		Thereafter
First Mortgage bonds	$	600	$	600	$	600	$	25,600	$	600	$	127,400
State revolving fund loans		773		816		836		857		878		8,584
Asset Purchase-Contractual Obligation		314		314		314		—		—		—
Promissory note		480		505		532		559		590		6,924
Total payments	$	2,167	$	2,235	$	2,282	$	27,016	$	2,068	$	142,908

Substantially all of Artesian Water’s utility plant is pledged as security for our First Mortgage Bonds.  As of December 31, 2024, 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.