{"data":{"id":"us-in/ic-20-25.3-5-1","jurisdiction":"us-in","citation":"IC 20-25.3-5-1","heading":"Debt, liability, or obligation of school city, participating school, or corporation","body":"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.\n(b) Any indebtedness, liabilities, and obligations incurred after March 31, 2026, by the corporation are the debt, liability, or obligation of the corporation.","path":["TITLE 20. EDUCATION","ARTICLE 25.3. INDIANAPOLIS PUBLIC EDUCATION CORPORATION","Chapter 5. Financial and Administrative Powers and Duties"],"source_url":"https://iga.in.gov/ic/2026/Title_20.html#20-25.3-5-1","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-01T01:34:30Z","sha256":"2a7d0f6117c24a9b0c41a62d328816000debe20f2b688dcbbfcb5ea801ae3b13","source_id":"us-in","stale":false,"prev":"us-in/ic-20-25.3-4-9","next":"us-in/ic-20-25.3-5-2"},"notice":"GroundRules: Original legal text. Not legal advice."}