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            "text": "KENTUCKY STATE UNIVERSITY",
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            "text": "Notes to the Financial Statements, continued",
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            "text": "7. Long-Term Liabilities, continued",
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            "text": "The principal and interest repayment requirements relating to the outstanding bonds payable at June 30, 2016, are as follows:"
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            "text": "During 2005, the University entered into a capital lease for an energy management project. The lease obligation has an interest rate of 4.29% and requires annual payments of principal and interest through 2021. The lease obligation will be paid with guaranteed energy savings."
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