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Atkinson council approves $50,000 LB840 loan for Olson Repair, LLC
Summary
The Atkinson City Council approved LB840-149, a $50,000 loan to Olson Repair, LLC at 4% interest for 15 years; the motion passed with one abstention from Councilmember Helen Olson.
The Atkinson City Council on Aug. 26 approved LB840-149, a $50,000 loan to Olson Repair, LLC under the city's LB840 program, with a 15-year term at 4% interest.
Jerry Osborne moved to approve the LB840 loan and Scott Shane seconded. The roll-call tally was recorded as Ayes: Osborne, Shane, Asher, Krysl; Abstain: Olson; Absent and not voting: Counts. The motion carried.
The council record lists the loan amount ($50,000), term (15 years) and interest rate (4%), but contains no further details about collateral, repayment schedule, or any individual conflict disclosures beyond Olson’s recorded abstention.
No additional public comment or conditions were recorded in the minutes regarding the loan at this meeting.
