Effective upon approval of a new district plan, the court shall do the following:

1. (1) Order the board of each of the merged districts dissolved.
2. (2) Order the two (2) districts to merge into one (1) single district.
3. (3) Order the transfer of all of the assets and obligations, including bonded indebtedness, of the merged districts to the new districts.

4. (4) Designate the time of the annual meeting of the merged district, which must be before March 1 each year.

   [Pre-1995 Recodification Citation: 13-3-3-96.5(i).]

As added by P.L.1-1995, SEC.26.