1. (a) The governing body of each school corporation shall establish a levy in every calendar year sufficient to pay all obligations.

2. (b) This subsection applies to a school corporation that consolidates under IC 20-23-6-12.5 . The governing body shall establish a levy for each subunit (as defined in IC 20-23-6-0.5 ) in each calendar year sufficient to pay the debts and obligations that the particular subunit incurred before consolidating with one (1) or more school corporations under IC 20-23-6-12.5 .

   [Pre-2006 Recodification Citation: 21-2-4-3 part.]

As added by P.L.2-2006, SEC.169. Amended by P.L.169-2017, SEC.9.