BARAGA – Baraga Village will try to find a new home for three pieces of equipment left behind after a company defaulted on its revolving loan.

Superior Tool & Fabricating, LLC borrowed $60,000 in revolving loan funds (RLF), making seven payments of $850 each in 2013.

Now the village is selling the 1980s Mazak equipment, but it will not benefit from the sale. The money will be returned to the state, which administered the RLF loans.

Two of the three computer numerical control lathes were used as collateral for the loan, with which the last was purchased.

Used for collateral were a: 1,000-turret bed lathe, model M-4, estimated at the time of the loan to be worth $12,000; and slant turn lathe, model SL-25, estimated at $15,000. A 1,500-turret spindle lathe and tooling were purchased with the loan at an estimated cost of $55,000.

The successful bidder will also pay the village for any storage fees it expects to incur, starting next month unless the items are sold soon.

Anyone interested in buying the equipment can call Village Manager LeAnn LeClaire at 906-353-6237 to arrange a time to see it all.

At its regular meeting last week, the council also accepted two bids: $1,650 from Kahkonen Construction to pave Fifth Street; and the $2,875 low bid from Pelkie’s Johnson Brothers Contracting for road sand.

The council will hear the Teamsters proposed contract at 6 p.m. Oct. 25, after which it will deliberate in closed session whether or not to approve the new contract.

“If we argue, we’ve still got three months,” said Village President Wendell Dompier, regarding the time the council has to deliberate before approving a contract.