The district council is considering borrowing around £ 5 million to buy the other half of a business he founded.
Pothole filling and repair work on the streets of the district is currently being carried out by the private company Via East Midlands.
The Nottinghamshire County Council currently owns 49 percent of the company, while the Cornwall Council owns 51 percent.
Now, the conservative-run Nottinghamshire County Council plans to buy the Cornish share.
The move is said to be "good news" for the county, but opposition councils have criticized the proposal.
Council member Kay Cutts is the council chairman and represents the Radcliffe on Trent department for the Conservatives.
She said, "Our proposal to buy Via East Midlands is good news for Nottinghamshire.
"It will mean that our highways and fleet management services are fully owned and controlled by the Nottinghamshire County Council, and that all profits generated by Via will be invested in the streets and highways of Nottinghamshire.
"We also see that Via is growing and diversifying its post-Brexit business in the East Midlands, with future revenues flowing back into our county."
Corserv, a privately owned wholly owned corporation owned by the Cornwall Council, currently owns 51 percent on behalf of the Cornwall Council and confirms that the sale of the Highways company is "in talks".
The exact price is commercially sensitive and not yet publicly known, but is estimated at around 5 million pounds.
Via East Midlands was founded in 2015 between Corserv and Nottinghamshire County Council when Labor headed the County Council.
Corserv says that since its inception, it has generated substantial financial returns for both parties, along with improvements in service delivery, and this has resulted in the Nottinghamshire County Council acquiring 100 percent of the ownership of the company.
Alan Rhodes is the leader of the Labor Group on the Council and represents the North North Worksop Division.
He said, "It is extraordinary when we are told that the Council is in such dire financial straits that it must abolish our district and county councils, and now we are told that we should make £ 5 million in debt. They could not invent it.
"The answers we need include:
- Where do the 5 million pounds come from?
- What will be the impact on the district council finances, especially as the leader says we are skint?
- What are the benefits to the inhabitants of Notts?
- Are the inhabitants of Notts financing another pet project? "
Jason Zadrozny is the leader of the Ashfield Independent group and represents the Ashfields division.
He said, "In a minute, the county council will tell us that it's Skint and we'll have to scrape out our district and county councils, and in the near future, they want to make a huge spending spree buying up the Via East Midlands.
"I've never used taxpayer outsourcing, so I'm using services.
"Like hundreds of residents in the Ashfield district, I have serious concerns about the performance of the Via East Midlands – especially when using & # 39; Viafix & # 39; to fill our potholes.
"I think this money will save us money in the long term, give us full governance and accountability, and enable the improvement of a service that is currently severe."
Elaine Holt, President of the Corserv Group of Companies, said: "We are proud of what we have accomplished in the realization of Via and the role we have played in achieving it. We wish Nottinghamshire and Via for the future. They have a strong foundation to build a very successful business. "
A meeting of the Council's Policy Committee on Wednesday, 14 November, will decide on the matter.