§ 93.34 EFFECT OF DISCONTINUANCE OF BOARD OR DISTRICT ON BOND OBLIGATIONS.
   If a board or district is discontinued under I.C. 36-10-3-3 and a new board or district is not established, the primary obligation on its bonds is not affected, and the unit assumes liability for the payment of the bonds according to their terms.
(I.C. 36-10-3-28)