UPDATE: Hamilton County Commissioners rejected a resolution designed to correct a costly mistake. This is a nearly half-million-dollar loan to the city of Red Bank that will make up for some of the funds lost after a miscalculation by the Hamilton County Property Assessor of a new tax rate.

Red Bank's City Manager says the loan would be a lifeline.

"This short-term, no-interest loan from Hamilton County would be a godsend. It would allow us to continue all of our operations, across all our departments, relatively uninterrupted,” Martin Granum, Red Bank City Manager, says.

Granum says the loan would help the city avoid a hiring freeze and allow the continuation of road and park projects.

Although this is not for sure, Granum says it's fair to anticipate a tax increase to make up for l

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