About 150 people gathered in Kings Parade on Thursday afternoon to express their objection to the loan as councillors met for an extraordinary meeting inside the council chambers.

They were also calling on council to find a new site to build the track to preserve McPhillamy Park "for everyone", and to respect the wishes of Wiradyuri elders who say the earmarked site has cultural significance to local indigenous communities.

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This afternoon's meeting was called after councillors Jess Jennings, John Fry and Monica Morse lodged a rescission motion against council's decision last Wednesday to pursue the loan after earlier agreeing that the go kart track should be funded wholly from state and federal government grants.

The motion was put to last Wednesday's meeting as a mayoral minute tabled by mayor Bobby Bourke, with councillors given just a few minutes to digest the contents before being asked to vote.

But even after a week of discussion and debate on the matter, this afternoon's vote returned the same result as last Wednesday's with a 5-4 majority of councillors confirming the loan.

Mayor Bobby Bourke, deputy mayor Ian North and councillors Warren Aubin, Graeme Hanger and Alex Christian again voted in support of the loan while councillors Morse, Jennings, Fry and Jacqui Rudge again voted against it.

Council will seek a 10-year loan of $2.25 million at an expected interest rate or around 2.09 per cent.

Council's finance department estimates council will be liable for repayments of about $251,666 a year, with interest repayments totalling around $266,000 over the 10-year loan period.