7(b).(b) The dissolution of a district through the adoption of an ordinance under IC 36-1-8-17.7(b)(7) is effective on the date specified in the ordinance.(c) Upon the dissolution of a district, the following apply:(1) Any legal obligations of the district that were incurred under this article before the district was dissolved, including bond obligations, loan obligations, other contractual liabilities, and civil liabilities, are transferred to the county and become legal obligations of the county, and those legal obligations shall be satisfied from assets of the district as provided in subdivision (2).(2) Any assets of the district that are needed to satisfy the legal obligations described in subdivision (1) shall be:(A) used by the district to satisfy those legal obligations; or(B) transferred to the county and used by the county to satisfy those legal obligations.(3) To the extent there are assets of the district that are not needed to satisfy the legal obligations described in subdivision (1), county and used by the county to satisfy those legal obligations.(3) To the extent there are assets of the district that are not needed to satisfy the legal obligations described in subdivision (1), those assets:(A) shall be transferred to the county and become assets of the county; and(B) shall be used by the county in providing services previously provided by the district.(d) After the county district of a county is dissolved, the county is no longer subject to this article, except for this chapter, and the county is not a county district or a member of a joint district.As added by P.L.189-2016, SEC.4. Amended by P.L.10-2019, SEC.66.
Indiana Legal Code