XML 25 R14.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Note 6 - Short-term Debt
 9 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Debt Disclosure [Text Block]

6.

Short-Term Debt

 

On March 24, 2023, Roanoke Gas entered into an unsecured Revolving Note in the principal amount of $25 million.  On March 31, 2024, the Revolving Note was amended to extend the maturity date to March 31, 2025.  Other key terms and requirements of the Revolving Note were retained.  The Revolving Note's variable interest rate is based upon Term SOFR plus 110 basis points and provides for multiple tier borrowing limits to accommodate seasonal borrowing demands.  The Company's total available borrowing limits during the term of the Revolving Note currently range from $15 million to $25 million.  As of June 30, 2024, the Company had an outstanding balance of $7,615,825 under the Revolving Note.