The Johnson County Commissioners voted Tuesday to loan the Town of Kaycee money to purchase a compactor trailer and a “tub” to complete their garbage transfer station that will serve the town and southern Johnson County.
Commissioner Delbert Eitel brought the request before the commission after he attended a Kaycee Town Council meeting and heard they were looking into acquiring a loan for the two pieces of equipment.
The loan would have been for $143,000 for 20 years with an annual percentage rate of 16 percent.
The commissioners agreed that 16 percent interest on the loan for Kaycee was too much, and after some discussion, they voted to loan the money to the Town of Kaycee over 20 years, interest free.
Kaycee City Attorney Barry Crago will draft the loan agreement and County Attorney Ken DeCock will review the agreement before presenting it to Commission Chair Smokey Wildeman for his signature.