9  LONG- TERM DEBT As of December 31, 2002 and 2001, long-term debt outstanding was: Interest Maturity In thousands Series Rate Date 2002 2001 First Mortgage Bonds: J  8.86% 2023 $ 4,000  $ 4,000 K 6.94% 2012 5,000 5,000 P 7.875% 2002 – 2,565 S 8.50% 2003 – 2,580 BB 9.48% 2008 – 11,520 CC 9.86% 2020 18,400 18,500 DD 8.63% 2022 – 19,100 EE 7.90% 2023 19,100 19,200 FF 6.95% 2023 19,100 19,200 GG 6.98% 2023 19,100 19,200 84,700 120,865 Senior Notes: A 7.28% 2025 20,000 20,000 B6.77% 2028 20,000 C 8.15% 2030 20,000 20,000 D 7.13% 2031 20,000 20,000 E 7.11% 2032 20,000 – F 5.90% 2017 20,000 – G 5.29% 2022 20,000 – H 5.29% 2022 20,000 – 160,000 80,000 California Department of 3.0% to Water Resources loans 7.4% 2003-33 2,797 2,886 Other long-term debt 3,868 4,230 Total long-term debt 251,365 207,981 Less current maturities 1,000 5,381 Long-term debt excluding current maturities $250,365 $202,600 47 The first mortgage bonds and unsecured senior notes are obligations of Cal Water. All bonds  are held by institutional investors and secured by substantially all of Cal Water’s utility plant.The senior notes are held by institutional investors and require interest-only payments until maturity, except series G and H which have an annual sinking fund requirement of $1.8 million starting in 2012.The Department of Water Resources (DWR) loans were financed under the California Safe Drinking Water Bond Act. Repayment of principal and interest on the DWR loans is through a surcharge on customer bills. Other long-term debt is primarily equipment and system acquisition financing arrangements with financial institutions. Compensating balances of $227,000 as of December 31, 2002, are required by these institutions. Aggregate maturities and sinking fund requirements for each of the succeeding five years (2003 through 2007) are $1,000,000, $932,000, $909,000, $928,000 and $918,000. CALIFORNIA WATER SERVICE GROUP