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MILLINOCKET, Maine

(NEWS CENTER) --- It's been a day of mixed feelings for people who live in Mlillinocket as in order to secure its financial future, the town is now parting with pieces of its past.

Piece by piece parts of the old paper mill in Millinocket were sold at auction on Thursday. Among the items up for bid was the mill's iconic paper machine.

The company that manages the site says the sale is taking place for two reasons: to create space for a new pellet mill and to pay off more than $2 million in back taxes owed to the town. Town officials say they need the money to fend off even more financial hardship.

The auction ended around 5:30 p.m. Thursday. Town officials say they calculated close to $1 million was made from the sale of extraneous equipment. They plan to discuss securing payment of the taxes on Friday.

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