§ 36-1-5-4-40

The following apply in the case of a reorganization under this article:(1) Indebtedness that was incurred by a political subdivision before the reorganization:(A) may not be imposed on taxpayers that were not responsible for payment of the indebtedness before the reorganization; and(B) must be paid by the taxpayers that were responsible for payment of the indebtedness before the reorganization.(2) Pension obligations existing as of the effective date of the reorganization:(A) may not be imposed on taxpayers that were not responsible for payment of the pension obligations before the reorganization; and(B) must be paid by the taxpayers that were responsible for payment of the pension obligations before the reorganization.As added by P.L.186-2006, SEC.4.