Red Willow County Gets Equipment Instead of Cash to Repay Debt

red-willow-county(AP) — The owner of a company that borrowed money from a county loan program has signed over tools and equipment to Red Willow County.

The county, in turn, has released the county’s security interest in Pawnee Aviation.

The company borrowed $300,000 from the program in December 2004 and defaulted. It made helicopter kits.

The tools and equipment that now belong to the county include prototype parts for the single-seat helicopter, a paint booth, a floor hoist, drill press and forklift.