IDS TAX EXEMPT BOND FUND INC
485B24E, 1995-01-23
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                  SECURITIES AND EXCHANGE COMMISSION

                         Washington, D.C.  20549

                                Form N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933     

Post-Effective Amendment No.  35  (File Number 2-57328)          X 

                              and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 
Amendment No.  27  (File Number 811-2686)                        X 

IDS TAX-EXEMPT BOND FUND, INC.
IDS Tower 10, Minneapolis, Minnesota  55440-0010

Leslie L. Ogg, 901 Marquette Avenue, Suite 2810,
Minneapolis, Minnesota 55440-0010
(612) 330-9283

Approximate Date of Proposed Public Offering:
It is proposed that this filing will become effective (check
appropriate box)
  X  immediately upon filing pursuant to paragraph (b)
     on (date) pursuant to paragraph (b)
_____60 days after filing pursuant to paragraph (a)(i)
     on (date) pursuant to paragraph (a)(i)
_____75 days after filing pursuant to paragraph (a)(ii)
_____on (date) pursuant to paragraph (a)(ii) of rule 485

If appropriate, check the following box:
_____This post-effective amendment designates a new effective date
     for a previously filed post-effective amendment.
<TABLE><CAPTION>
________________________________________________________________________________
________________________________________________________________________________
                                     Proposed       Proposed
Title of                             Maximum        Maximum
Securities           Amount          Offering       Aggregate      Amount of
Being                Being           Price per      Offering       Registration
Registered           Registered      Unit           Price          Fee
________________________________________________________________________________
<S>                  <C>             <C>             <C>            <C>
Capital Stock
of $.01 par
value per share      Indefinite*     N/A             N/A            N/A

Capital Stock
of $.01 par
value per share      27,474,621      $3.90           $107,151,022   $100
________________________________________________________________________________
</TABLE>
*Registrant has registered an indefinite number or amount of
securities under the Securities Act of 1933 pursuant to Rule 24f-2
under the Investment Company Act of 1940.  The Rule 24f-2 Notice
for Registrant's most recent fiscal year ended November 30, 1994
will be filed on or about January 23, 1995.<PAGE>
PAGE 2

1.   Computed under Rule 457(d) on the basis of the offering price
per share at the close of business on January 17, 1995.

2.   Registrant elects to calculate the maximum aggregate offering
price pursuant to Rule 24e-2.  $237,264,415 of shares were redeemed
during the fiscal year ended November 30, 1994.  $130,403,391 of
shares was used for reductions pursuant to paragraph (c) of Rule
24f-2 during the current year.  $106,861,023 of shares is the
amount of redeemed shares used for reduction in this amendment.
<PAGE>
PAGE 3
                            SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant, IDS Tax-Exempt Bond
Fund, Inc., certifies that it meets all of the requirements for
effectiveness of this Amendment to its Registration Statement
pursuant to Rule 485(b) under the Securities Act of 1933 and has
duly caused this Amendment to its Registration Statement to be
signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Minneapolis and the State of Minnesota on the 23rd
day of January 1995.


IDS TAX-EXEMPT BOND FUND, INC.


By /s/  William R. Pearce**         
        William R. Pearce, President

Pursuant to the requirements of the Securities Act of 1933, this
Amendment to its Registration Statement has been signed below by
the following persons in the capacities indicated on the 23rd day
of January 1995.

Signature                               Capacity

                                        President,
/s/  William R. Pearce**                Principal Executive
     William R. Pearce                  Officer and Director

                                        Treasurer, Principal
/s/  Leslie L. Ogg**                    Financial Officer and
     Leslie L. Ogg                      Principal Accounting
                                        Officer

/s/  Lynne V. Cheney*                   Director
     Lynne V. Cheney


/s/  William H. Dudley*                 Director
     William H. Dudley


/s/  Robert F. Froehlke*                Director
     Robert F. Froehlke


/s/  David R. Hubers*                   Director
     David R. Hubers


/s/  Heinz F. Hutter*                   Director
     Heinz F. Hutter


/s/  Anne P. Jones*                     Director
     Anne P. Jones
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PAGE 4
Signature                               Capacity

/s/  Donald M. Kendall*                 Director
     Donald M. Kendall


/s/  Melvin R. Laird*                   Director
     Melvin R. Laird


/s/  Lewis W. Lehr*                     Director
     Lewis W. Lehr


/s/  Edson W. Spencer*                  Director
     Edson W. Spencer


/s/  John R. Thomas*                    Director
     John R. Thomas


/s/  Wheelock Whitney*                  Director
     Wheelock Whitney


/s/  C. Angus Wurtele*                  Director
     C. Angus Wurtele

*Signed pursuant to Directors' Power of Attorney dated Nov. 10,
1994, filed electronically as Exhibit 18(a) to Registrant's Post-
Effective Amendment No. 34 by:



____________________________
Leslie L. Ogg

**Signed pursuant to Officers' Power of Attorney dated June 1, 1993
filed electronically as Exhibit 17(b) to Registrant's Post-
Effective Amendment No. 31 by:



____________________________
Leslie L. Ogg


EXHIBIT INDEX
(B)(10) OPINION OF COUNSEL


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PAGE 1 






January 23, 1995



IDS Tax-Exempt Bond Fund, Inc.
IDS Tower 10
Minneapolis, MN  55440

I have examined the Articles of Incorporation and the By-Laws of
the Company and all necessary certificates, permits, minute books,
documents and records of the Company and the applicable statutes of
the State of Minnesota, and it is my opinion:

(a)  That the Company is a corporation duly organized and existing
     under the laws of the State of Minnesota with an authorized
     capital stock of 10,000,000,000 shares, all of $.01 par value,
     that such shares may be issued as full or fractional shares
     and that on November 30, 1994, 297,618,426 shares were issued
     and outstanding;

(b)  That all of such authorized shares are, under the laws of the
     State of Minnesota, redeemable as provided in the Articles of
     Incorporation of the Company and upon redemption shall have
     the status of authorized and unissued shares;

(c)  That the Company now proposes to register an additional     
     27,474,621 shares by post-effective amendment, pursuant to
     Rule 24e-2 of the Investment Company Act of 1940, and that
     when sold at not less than their par value and in accordance
     with applicable federal and state securities laws such shares
     will be legally issued, fully paid and non-assessable.

I hereby consent that the foregoing opinion may be used in
connection with the post-effective amendment to your registration
statement to be filed by you pursuant to Section 24(e) of the
Investment Company Act of 1940, as amended for the purpose of
increasing the shares of capital stock, the securities specified
therein, as proposed to be offered.

Very truly yours,



Leslie L. Ogg

Leslie L. Ogg
Attorney at Law
901 S. Marquette Ave., Suite 2810
Minneapolis, Minnesota  55402-3268



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