Routt County in northwest Colorado reached a deal Monday with Peabody Energy, a coal company in the throes of bankruptcy, over nearly $1.8 million in delayed property taxes.

The payment is good news for the county and its school district, which has been in financial crisis for months. The county treasurer rejected Peabody's earlier attempt to pay the tax bill because it did not include nearly $100,000 in interest and fees. 

A news release announcing the agreement did not say if the issue of interest and fees has been resolved. 

"This agreement reflects our hard, out-of-the-spotlight work with a valued, long-standing community partner," Routt County Treasurer Brita Horn said in the release. 

Peabody employs about 300 workers at the Twentymile Mine near Steamboat Springs.