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DEBT (Tables) | 12 Months Ended
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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.

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