[mccookgazette.com] Fair ~ 56°F  
High: 83°F ~ Low: 52°F
Thursday, May 5, 2016

Local officials retrieve files on defaulted loan

Monday, April 19, 2010

The intellectual properties of Pawnee Aviation Inc. have been retrieved from the man who borrowed $300,000 from Red Willow County and defaulted on the loan.

Rex Nelson of McCook, administrator of the county's revolving loan fund program, drove to Longmont, Colo., Friday and took possession of computers, files, filing cabinets, blueprints and designs for the helicopter kit that Ron Willocks, owner of Pawnee Aviation, was developing with the $200,000 loan and the $100,000 grant that he received from the county in December 2004. In nearly five years, Willocks paid only $7,942 on the loan. On Nov. 30, 2009, Red Willow County District Judge David Urbom ordered Pawnee Aviation Inc. to pay the county $345,304.41, which includes interest and court costs.

Nelson reported to Red Willow County commissioners Monday morning that he saw the prototype helicopter and a trailer in a rental hangar also in Longmont. Nelson said he visited with the hangar owner, "and looked at collateral in his possession. We know where it (the helicopter) is, and we know it's there."

Following a 20-minute closed session Monday morning, commissioners directed deputy county attorney Phil Lyons to further explore options in Colorado, to gain possession of the helicopter and trailer.

Also during their weekly meeting, commissioners discussed the possibility of issuing Recovery Zone bonds to pay for paving two miles of county road from the city limits north on East 11th. A final decision on the bonds will be on the agenda at the board's April 26 weekly meeting.

Fact Check
See inaccurate information in this story?

Respond to this story

Posting a comment requires free registration: