Red Willow County Auctioning Items from Company that Defaulted on Loan

MCCOOK, Neb. (AP) -- Red Willow County is using an Internet auction to sell parts, equipment and tools that once belonged to a helicopter kit company that defaulted on a loan from the county's revolving loan program.

The auction will run through Dec. 18 on the Big Iron website.

In August the owner of Pawnee Aviation signed over the tools and equipment to Red Willow County. In return the county released its security interest in the company. Pawnee Aviation had borrowed $300,000 from the program in December 2004 and later defaulted. It made helicopter kits.

Current bids on the Big Iron auction site include $550 for helicopter parts, $525 for a helicopter tail boom fixture jig and $400 for helicopter designs, drawings and a cabin mold.

Copyright 2013 The Associated Press.