FORM 10-K

 UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 FORM 10-K

 (Mark One)

 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

 EXCHANGE ACT OF 1934

 For the fiscal year ended December 31, 2024

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

 SECURITIES EXCHANGE ACT OF 1934

 For the transition period from __________________________ to __________________________

 Commission
File Number of issuing entity: 333-274815-01

 Central Index Key Number
of issuing entity: 0001994341

 EMPIRE
DISTRICT BONDCO, LLC

 (Exact name of issuing entity as specified in its charter)

 THE
EMPIRE DISTRICT ELECTRIC COMPANY

 (Exact name of depositor and sponsor as specified in its charter)

 Commission File Number of
depositor and sponsor: 333-274815

 Central Index Key Number
of depositor and sponsor: 0000032689

 Delaware

 93-3459519

 (State or other jurisdiction of

 incorporation or organization)

 (I.R.S. Employer

 Identification No.)

 c/o The Empire District Electric Company,

 602 S. Joplin Avenue

 Joplin, Missouri

 64801

 (Address of principal executive offices)

 (Zip Code)

 Registrant's telephone number, including
area code: 417 625-5100

 Securities registered pursuant to Section 12(b) of the Act: none

 Securities registered pursuant to Section 12(g) of the Act: none

 Indicate by check mark if the registrant is a well-known seasoned issuer
 as defined in Rule 405 of the Securities Act.

 Indicate by check mark if the registrant is not required to file reports
 pursuant to Section 13 or Section 15(d) of the Act.

 Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements
for the past 90 days.

 Indicate by check mark whether
the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T
(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit
such files).

 Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging
growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting
company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

 Large accelerated filer

 Accelerated filer

 Non-accelerated filer

 Smaller reporting company

 Emerging growth company

 If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 Indicate by check mark whether the registrant has filed a report on
and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of
the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.

 If securities are registered pursuant to Section 12(b) of
the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an
error to previously issued financial statements.

 Indicate by check mark whether any of those error corrections are
restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers
during the relevant recovery period pursuant to §240.10D-1(b).

 Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act).

 Documents incorporated by reference: none

 Item 1. Business.

 Item 1A. Risk Factors.

 Item 1B. Unresolved Staff Comments.

None.

 Item 1C. Cybersecurity.

 Item 2. Properties.

 Item 3. Legal Proceedings.

 Item 4. Mine Safety Disclosures.

 None.

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

 Item 6. [Reserved].

 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.

 Item 7A. Quantitative and Qualitative Disclosures
about Market Risk.

 Item 8. Financial Statements and Supplementary
Data.

 Item 9. Changes in and Disagreements with Accountants
on Accounting and Financial Disclosures.

 Item 9A. Controls and Procedures.

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 Item 9B. Other Information.

 None.

 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent
Inspections.

 None.

 Item 10. Directors, Executive Officers, and Corporate Governance.

 The following is a list of the managers of Empire District
Bondco, LLC (the "Issuing Entity") as of the date of this report:

 Name

 Age

 Title

 Background

 Tim Wilson

 Manager and President

 Tim Wilson was appointed Manager and President of Empire District Bondco, LLC effective as of January 17, 2025. Since July 2023, Mr. Wilson, 46, served as President of the Central Region – Electric for Liberty Utilities Service Corp., an affiliate of The Empire District Electric Company ("Empire"), for which the Company is a wholly-owned subsidiary. Prior to that, Mr. Wilson served as Vice President of Electric Operations from 2020 to 2023, Vice President of Strategic Projects and Energy Supply from 2019 to 2020, and Central Region Director of Electric Operations – Services from 2017 to 2019.

 Jennifer Shewmake

 Manager, Treasurer, and Secretary

 Jennifer Shewmake was appointed Vice President, Finance and Administration of Liberty (Central Region), encompassing Empire in July 2023. Prior to that, Ms. Shewmake was the Sr. Director, Finance and Administration starting in July 2022, moving from Sr. Manager when rejoining the company in 2019. Ms. Shewmake joined Empire in 2014 in Internal Audit where she served as Sr. IT Auditor until 2018.

 Jennifer A. Schwartz

 Independent Manager

 With 25 years' U.S. and global capital markets experience, Ms. Schwartz currently serves as Vice President, Assistant Manager and Independent Director/Manager and is responsible for serving as the independent director/ manager, springing and/or special member of companies since 2004. Ms. Schwartz is currently appointed to more than 6,000 special purpose entity boards. She is familiar with bankruptcy remote transactions and corporate structures, Delaware statutory trusts, and is experienced in setting up initial appointments, reviewing and execution of corporate documents, attending annual board meetings, price negotiations, invoicing and collections and terminations of services.

 Code of Ethics

 The Issuing Entity is a wholly-owned subsidiary of Empire, which in
turn is an indirect wholly-owned subsidiary of Algonquin Power & Utilities Corp. ("Algonquin"). Algonquin, a Canadian
company, is a foreign private issuer reporting pursuant to Exchange Act rules for foreign registrants. Algonquin indirectly owns
Liberty Utilities Co. ("LU"), which in turn indirectly owns a portfolio of electrical distribution utility systems (including
Empire) and related generation assets, water distribution and wastewater collection utility systems, and natural gas distribution utility
systems. Algonquin has adopted a Code of Business Conduct and Ethics which applies to all of its subsidiary entities. The Code of Business
Conduct and Ethics is available at Algonquin's website at

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 Item 11. Executive Compensation

 Other than an annual independent manager fee of $2,760 paid to C T Corporation Staffing, Inc., the Issuing Entity does not pay any
compensation to its managers or executive officers.

 Item 12. Security Ownership of Certain Beneficial
Owners and Management and Related Stockholder Matters.

 None.

 Item 13. Certain Relationships and Related Transactions,
and Director Independence

 Information responding to Item 13 is included under Item 10. (Directors,
Executive Officers, and Corporate Governance) above.

 Item 14. Principal Accountant Fees and Services.

 Item 15. Exhibits, Financial Statement Schedules.

 (a)(1) and (a)(2) Omitted
pursuant to General Instruction J of Form 10-K.

 (a)(3) and (b) See Exhibit Index
included below, which is incorporated herein by reference.

 Item 16. Form 10-K Summary.

 None.

 EXHIBIT INDEX

 Exhibit No.

 Description

 3.1

 Certificate
 of Formation of Empire District Bondco, LLC (incorporated by reference to the Registration Statement on Form SF-1 of The Empire
 District Electric Company and Empire District Bondco, LLC (File Nos. 333-274815 and 333-274815-01) filed on September 29, 2023,
 Exhibit 3.1)

 3.2

 Amended
 and Restated Limited Liability Company Agreement of Empire District Bondco, LLC (incorporated by reference to a Current Report on
 Form 8-K of The Empire District Electric Company and Empire District Bondco, LLC (File Nos. 333-274815 and 333-274815-01) filed
 January 22, 2024, Exhibit 3.2)

 4.1

 Indenture
 between Empire District Bondco, LLC and The Bank of New York Mellon Trust Company, N.A. dated January 30, 2024 (including forms
 of Securitized Utility Tariff Bonds) (incorporated by reference to a Current Report on Form 8-K of The Empire District Electric
 Company and Empire District Bondco, LLC (File Nos. 333-274815 and 333-274815-01) filed January 30, 2024, Exhibit 4.1)

 4.2

 Series Supplement
 between Empire District Bondco, LLC and The Bank of New York Mellon Trust Company, N.A. dated as of January 30, 2024 (incorporated
 by reference to a Current Report on Form 8-K of The Empire District Electric Company and Empire District Bondco, LLC (File Nos.
 333-274815 and 333-274815-01) filed January 30, 2024, Exhibit 4.2)

 10.1

 Securitized
 Utility Tariff Property Servicing Agreement between Empire District Bondco, LLC and The Empire District Electric Company d/b/a Liberty,
 as Servicer, dated January 30, 2024 (incorporated by reference to a Current Report on Form 8-K of The Empire District Electric
 Company and Empire District Bondco, LLC (File Nos. 333-274815 and 333-274815-01) filed January 30, 2024, Exhibit 10.1)

 10.2

 Securitized
 Utility Tariff Property Purchase and Sale Agreement between Empire District Bondco, LLC and The Empire District Electric Company
 d/b/a Liberty, as Seller, dated January 30, 2024 (incorporated by reference to a Current Report on Form 8-K of The Empire
 District Electric Company and Empire District Bondco, LLC (File Nos. 333-274815 and 333-274815-01) filed January 30, 2024, Exhibit 10.2)

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 10.3

 Administration
 Agreement between Empire District Bondco, LLC and The Empire District Electric Company d/b/a Liberty, as Administrator, dated January 30,
 2024 (incorporated by reference to a Current Report on Form 8-K of The Empire District Electric Company and Empire District
 Bondco, LLC (File Nos. 333-274815 and 333-274815-01) filed January 30, 2024, Exhibit 10.3)

 31.1

 Certification pursuant
 to Rule 13a-14(d)/15d-14(d)

 33.1

 Report on assessment of compliance with servicing criteria
 for asset-backed securities of The Empire District Electric Company d/b/a Liberty, as servicer

 33.2

 Report on assessment
 of compliance with servicing criteria for asset-backed securities of The Bank of New York Mellon Trust Company, N.A., as indenture
 trustee

 34.1

 Attestation report on assessment of compliance with servicing
 criteria for asset backed securities of Ernst & Young LLP on behalf of The Empire District Electric Company d/b/a Liberty,
 as servicer

 34.2

 Attestation report on
 assessment of compliance with servicing criteria for asset backed securities of KPMG LLP on behalf of The Bank of New York Mellon
 Trust Company, N.A., as indenture trustee

 35.1

 Servicer compliance statement
 of The Empire District Electric Company d/b/a Liberty, as servicer

 Cover Page Integrative Data File – the cover

 Item 1112(b). Significant Obligors
of Pool Assets.

 None.

 Item 1114(b)(2). Credit Enhancement
and Other Support, Except for Certain Derivatives Instruments.

 None.

 Item 1115(b). Certain Derivatives
Instruments.

 None.

 Item 1117. Legal Proceedings.

 No material legal proceedings to be reported.

 Item 1119. Affiliations and Certain
Relationships and Related Transactions.

 Empire District Bondco, LLC is a wholly-owned
subsidiary of The Empire District Electric Company d/b/a Liberty.

 Item 1122. Compliance with Applicable Servicing
Criteria.

 The following exhibits are attached to this report:

 33.1 – Report on assessment of compliance
with servicing criteria for asset-backed securities of The Empire District Electric Company d/b/a Liberty, as servicer;

 33.2 – Report on assessment of compliance
with servicing criteria for asset-backed securities of The Bank of New York Mellon Trust Company, N.A., as indenture trustee;

 34.1 – Attestation report on assessment
of compliance with servicing criteria for asset backed securities of Ernst & Young LLP (PCAOB ID No. 42, New York, NY) on
behalf of The Empire District Electric Company d/b/a Liberty, as servicer;

 34.2 – Attestation report on assessment
of compliance with servicing criteria for asset backed securities of KPMG LLP (PCAOB ID No. 185, New York, NY) on behalf of The Bank
of New York Mellon Trust Company, N.A., as indenture trustee.

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 The Bank of New York Mellon Trust Company, N.A.
(the "Indenture Trustee") has completed a report on an assessment of compliance with applicable servicing criteria set forth
in Item 1122(d) of Regulation AB (Exhibit 33.2 of this Form 10-K). In addition, the Indenture Trustee has provided an attestation
report by an independent registered public accounting firm (Exhibit 34.2 of this Form 10-K). These reports have identified and
disclosed a material instance of noncompliance with the Indenture Trustee in its capacity as indenture trustee for another series of similar
securities sponsored by a different sponsor that occurred with respect to the servicing criterion set forth in Item 1122(d)(3)(ii) as
follows: amounts due to investors were not remitted in accordance with timeframes set forth in the transaction agreements.

 According to Schedule B of Exhibit 33.2 of
this Form 10-K, the Indenture Trustee has enhanced controls aimed at preventing missed payments.

 The Indenture Trustee has represented to Empire
District Bondco, LLC that the material instance of noncompliance did not apply to the servicing functions performed for Empire District
Bondco, LLC.

 Item 1123. Servicer Compliance Statement.

 35.1 – Servicer compliance statement of
The Empire District Electric Company, as servicer.

 Supplemental
Information to be Furnished With Reports Filed Pursuant to Section 15(d) of the Act by Registrants Which Have Not Registered
Securities Pursuant to Section 12 of the Act

 No such annual report, proxy statement, form of
proxy or other proxy soliciting material has been sent to the registrant's security holders. The registrant will not be sending
an annual report or proxy material to its security holders subsequent to the filing of this form.

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 SIGNATURES

 Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.

 Date: March 31, 2025

 Empire District Bondco, LLC

 (Issuing Entity)

 By: The Empire District Electric Company d/b/a Liberty, as Servicer

 By:

 /s/ TIM WILSON

 Tim Wilson

 President

 By:

 /s/ JENNIFER SHEWMAKE

 Jennifer Shewmake

 Treasurer and Secretary

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