IC 20-25.3-5-1: Debt, liability, or obligation of school city, participating school, or corporation

Sec. 1. (a) Any indebtedness, liabilities, and obligations incurred before April 1, 2026, by the school city or any participating school, remain the debt, liability, or obligation of the school city or participating school and do not become the debt, liability, or obligation of and may not be assumed by the corporation. The rights of the bondholders remain unchanged.

(b) Any indebtedness, liabilities, and obligations incurred after March 31, 2026, by the corporation are the debt, liability, or obligation of the corporation.