Sec. 10. (a) The Indiana State University board of trustees shall fix, impose, and collect its own fees and charges in an amount sufficient, when added to other funds provided by operation of sections 5(d), 6, 7, and 9 of this chapter and to funds otherwise available, to make the required payments and otherwise meet all requirements on all financial obligations and other liabilities described in section 5 of this chapter.

     (b) Except as otherwise provided by section 5 of this chapter, after the assumption of liabilities described in section 5 of this chapter, the Indiana State University board of trustees shall continue to:

(1) remain liable for the assumed liabilities;

(2) remain obligated to fix, impose, and collect the fees and charges described in subsection (a); and

(3) repay the assumed indebtedness as the indebtedness becomes due;

after the University of Southern Indiana board of trustees assumes the liabilities described in section 5 of this chapter.

As added by P.L.220-2011, SEC.356.