FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending: / / (a)
or fiscal year ending: 12 / 31 /99 (b)
Is this an amendment to a previous filing? (Y/N): Y
Those items or sub-items with a box "/" after the item number should be
completed only
if the answer has changed from the previous filing on this form.
1. A. Registrant Name: American Tax-Exempt Bond Trust, Series 1
B. File Number: 811-2457
C. Telephone Number: (414) 334-5521
2. A. Street: 215 North Main Street
B. City: West Bend C. State: WI D. Zip Code: 53095
E. Foreign Country Foreign Postal Code:
3. Is this the first filing on this form by Registrant? (Y/N) N
4. Is this the last filing on this form by Registrant? (Y/N) N
5. Is Registrant a small business investment company (SBIC)? (Y/N) N
(If answer is "Y" (Yes), complete only items 89 through 110.)
6. Is Registrant a unit investment trust (UIT)? (Y/N) Y
(If answer is "Y" (Yes), complete only items 111 through 132.)
118. State the number of series existing at the end of the period that had
securities registered under the Securities Act of 1933 11
Number of Total Assets Total Income
Series ($000's Distributions
Investing omitted) ($000's omitted)
C. State and municipal tax-free 11 9,570 679
K. Other securities (Cash) 4 57 -0-
L. Total assets of all series of
series of Registrant $ 9,627
131. Total expenses incurred by all series of Registrant during the current
reporting period ($000's omitted) $66
