Sec. 23. (a) Despite the issuance of a certificate of dissolution of a district under section 22 of this chapter, all contracts to which the district is a party remain in force and effect for the period provided in the contracts. (b) The board: (1) is substituted for the district as party to the contracts; (2) is entitled to all benefits and subject to all liabilities under the contracts; and (3) has the same right and obligation under the contracts as the district would have had to: (A) perform; (B) require performance; (C) sue and be sued; and (D) modify or terminate the contracts by mutual consent or otherwise.
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