"The issues that need to be worked out are whether the bondholders get more stock or bonds and how much."
In 1974 a special election was held to get bonds for the construction and equipment for a new physical education facility.
In exchange, the banks would get new bonds for their old loans.
They can now get bonds at 8 percent.
Under the auction process, bidders can agree to pay the average rate and be sure of getting bonds.
In return, the investors would get bonds that could be converted into common stock and a nice interest rate.
"There isn't much but I've got some stocks, bonds, and such in a safety deposit box."
Big companies have gone out and got equity and bonds away.
A. In certain sectors, like real estate investment trusts, you can get bonds with yields of close to 7 percent.
"And you've probably got stocks and bonds, just like I do," he said.