An extraordinary meeting was held on Thursday afternoon to deal with a rescission motion attempting to reverse council's resolution from the week before.

READ MORE: Attempt made to reverse go-kart track funding decision

Councillors Jess Jennings, John Fry and Monica Morse lodged that rescission motion, but couldn't secure the votes to reverse the decision.

Council will now source a $2.25 million loan to help fund construction, and continue to pursue grant opportunities to fund the remaining $2.25 million needed to complete the project.

Thursday afternoon's meeting was a fiery debate, which at one point saw Cr Jennings tell the mayor to consider resigning.

"This mayoral minute has clearly declared war on Bathurst ratepayers by robbing them blind and treating them like fools - it's not good enough and they deserve better," he said.

"Any councillor who thinks it's acceptable to take this money off ratepayers and then put it on the credit card is not fit to be in this chamber ... and Mr Mayor, the choice you should be making is to reverse this decision or resign."

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His words did not change the minds of Bobby Bourke, Ian North, Warren Aubin, Alex Christian and Graeme Hanger, who defended their original decision.

Cr North said council had sought loans to build community facilities before, and the go-kart track was no different.

He listed a number of recent projects, breaking down how those facilities had been funded.

The list included the Bathurst Rail Museum, for which council took out a $1.9 million loan; the redevelopment of the Scallywags childcare centre, which required an $810,000 loan; and a whopping $5 million in loans for the Hereford Street sporting fields.

Cr North also shot back at the suggestion that council would be wasting ratepayers' money by sourcing a loan, saying it would be a greater waste of money to relocate the go-kart track, as has been suggested.

"Why do the studies? If you're going to say about waste, a number of councillors here that voted against it voted originally for it, voted to go for these studies, which we're at close to $1 million [spent] on site card work and investigations onto that Mount," he said.

"If we're going to talk waste, we've put close to $1 million into this already. If you want to talk about waste to ratepayers, why did you vote for it originally?"

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Cr Aubin made a similar argument, claiming the project would cost more to accommodate it in the second circuit precinct.

"There's no DA, there's no track design, there's got to be extra studies done on this land, the biodiversity laws that got brought in after the 2018 meeting where we passed this approval [for the go-kart track] would put another $1 million at least on top of this project," he said.

"Financial mismanagement would be to move the track, because it's going to cost millions more than what this track is going to cost to build."

Council intends to pay back the loan for the go-kart track over 10 years, with the first repayment to be made in the 2021-22 financial year.

The interest on the loan is estimated to be approximately $266,000.