<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
"Rule 24f-2 Notice"
Fidelity School Street
(Name of Registrant)
File No. 2-57167
</PAGE>
<PAGE>
FILE NO. 2-57167
Fidelity School Street
: Fidelity Limited Term Municipals Fund
RULE 24F-2 - FILED PURSUANT TO RULE
24f-2(b)(1) OF THE INVESTMENT COMPANY ACT OF 1940
(i) Fiscal Year for Which Notice Filed
Fiscal year ended December 31, 1994
(ii) Number of Securities Which Remained Unsold at Beginning of Fiscal Year
Registered Other Than Pursuant to Rule 24f-2
No shares
(iii) Number of Securities Registered During Fiscal Year Other Than Pursuant
to Rule 24f-2
No shares
(iv) Number of Securities Sold During Fiscal Year
50,769,760 shares
For information relating to the calculation of the filing fee,
see Note (1) below.
(v) Number of Securities Sold During Fiscal Year Pursuant to Rule 24f-2
50,769,760 shares
<TABLE>
<CAPTION>
Number of Shares
Aggregate Price
<S>
<C>
<C>
Sales Pursuant to Rule 24f-2:
50,769,760
$
476,696,639
Redemptions See Note (2) :
(50,769,760)
$
(476,696,639)
Note (2) : The total number of shares redeemed for the total dollar amount of
redemptions for the fiscal period ended December 31, 1994
, aggregated
77,752,097
and $727,906,912
, respectively. An additional filing
pursuant to Rule 24e-2 can be made to register a number of shares
that will include the share redemptions not utilized under Rule 24f-2.
Net Sales Pursuant to Rule 24f-2:
0
$
0
</TABLE>
Note (1) : Pursuant to Rule 24f-2(c), the filing fee, calculated in the
manner specified in Section 6(b) of the Securities Act
of 1933, amounted to: $0
Fidelity School Street
:
Fidelity Limited Term Municipals Fund
By John H. Costello
Assistant Treasurer
</PAGE>
<PAGE>
FILE NO. 2-57167
Fidelity School Street
: Spartan Bond Strategist Fund
RULE 24F-2 - FILED PURSUANT TO RULE
24f-2(b)(1) OF THE INVESTMENT COMPANY ACT OF 1940
(i) Fiscal Year for Which Notice Filed
Fiscal year ended December 31, 1994
(ii) Number of Securities Which Remained Unsold at Beginning of Fiscal Year
Registered Other Than Pursuant to Rule 24f-2
No shares
(iii) Number of Securities Registered During Fiscal Year Other Than Pursuant
to Rule 24f-2
No shares
(iv) Number of Securities Sold During Fiscal Year
1,183,452 shares
For information relating to the calculation of the filing fee,
see Note (1) below.
(v) Number of Securities Sold During Fiscal Year Pursuant to Rule 24f-2
1,183,452 shares
<TABLE>
<CAPTION>
Number of Shares
Aggregate Price
<S>
<C>
<C>
Sales Pursuant to Rule 24f-2:
1,183,452
$
11,393,624
Redemptions See Note (2) :
(1,183,452)
$
(11,393,624)
Note (2) : The total number of shares redeemed for the total dollar amount of
redemptions for the fiscal period ended December 31, 1994
, aggregated
1,376,527
and $12,707,084
, respectively. An additional filing
pursuant to Rule 24e-2 can be made to register a number of shares
that will include the share redemptions not utilized under Rule 24f-2.
Net Sales Pursuant to Rule 24f-2:
0
$
0
</TABLE>
Note (1) : Pursuant to Rule 24f-2(c), the filing fee, calculated in the
manner specified in Section 6(b) of the Securities Act
of 1933, amounted to: $0
Fidelity School Street
:
Spartan Bond Strategist Fund
By John H. Costello
Assistant Treasurer
</PAGE>
February 15, 1995
Mr. John Costello, Assistant Treasurer
Fidelity School Street Trust
82 Devonshire Street
Boston, Massachusetts 02109
Dear Mr. Costello:
Fidelity School Street Trust (the "Trust") is a Massachusetts
business trust created under the name of "Fidelity Municipal Bond
Fund" under a written Declaration of Trust dated, executed, and
delivered in Boston, Massachusetts on September 10, 1976. The
Trust's name was changed to "Fidelity Mid-Term Municipals" by
vote of the Board of Trustees on February 11, 1977, which vote
was approved the Sole Shareholder of the Trust on February 28,
1977. The corresponding amendment to the Declaration of Trust
was filed with the Secretary of the Commonwealth of
Massachusetts (the "Commonwealth") on March 28, 1977. The
Trust's name was changed to "Fidelity Limited Term Municipals" by
vote of the Board of Trustees on April 15, 1977. Having been
approved by a majority of the outstanding voting securities of the
Trust, the corresponding amendment to the Declaration of Trust
was also executed and filed with the Secretary of the
Commonwealth on April 15, 1977. On September 13, 1978,
shareholders of the Trust voted to change the fiscal year end of the
Trust. A supplement to the Declaration of Trust was filed on
September 14, 1978 reflecting this change. An amended and
restated Declaration of Trust was approved at a Special Meeting of
Shareholders on February 24, 1987 and was executed and filed with
the Secretary of the Commonwealth on March 24, 1987. The
Trust's name was further changed to "Fidelity School Street Trust"
by vote of the Board of Trustees on June 17, 1993, which
amendment to the Declaration of Trust was filed with the Secretary
of the Commonwealth on July 1, 1993. Amendments to the
Declaration of Trust were approved at a Special Meeting of
Shareholders on December 14, 1994 and an amended and restated
Declaration of Trust was executed and subsequently filed with the
Secretary of the Commonwealth on February 14, 1995.
I have conducted such legal and factual inquiry as I have deemed
necessary for the purpose of rendering this opinion.
Under Article III, Section 1, of the Declaration of Trust, the
beneficial interest in the Trust shall be divided into separate and
distinct Series or classes as the Trustees shall from time to time
create and establish. The number of Shares is unlimited and each
Share is without par value and shall be fully paid and nonassessable.
The Trustees shall have full power and authority, in their sole
discretion and without obtaining any prior authorization or vote of
the Shareholders of any Series or class of Shareholders of the Trust,
to create and establish (and to change in any manner) Shares or any
Series or classes thereof with such preferences, voting powers,
rights and privileges as the Trustees may from time to time
determine, to divide or combine the Shares or any Series or classes
thereof into a greater or lesser number, to classify or reclassify any
issued Shares into one or more Series of Shares, to abolish any one
or more Series or classes of Shares, and to take such other action
with respect to the Shares as the Trustees may deem desirable.
Under Article III, Section 4, the Trustees shall accept investments
in the Trust from such persons and on such terms as they may from
time to time authorize. Such investments may be in the form of
cash or securities in which the appropriate Series is authorized to
invest valued, as provided in Article X, Section 3. After the date of
the initial contribution of capital, the number of Shares to represent
the initial contribution may in the Trustees' discretion be considered
as outstanding and the amount received by the Trustees on account
of the contribution shall be treated as an asset of the Trust.
Subsequent investments in the Trust shall be credited to each
Shareholder's account in the form of full and fractional Shares at the
Net Asset Value per Share next determined after the investment is
received; provided, however, that the Trustees may, in their sole
discretion, (a) impose a sales charge upon investments in the Trust
and (b) issue fractional Shares.
By a vote adopted on September 10, 1976 and amended on
February 22, 1985, the Board of Trustees authorized the issue and
sale, from time to time, of an unlimited number of shares of the
beneficial interest of the Trust in accordance with the terms
included in the current registration statement and subject to the
limitations of the Declaration of Trust and any amendments thereto.
I understand from you that, pursuant to Rule 24f-2 under the
Investment Company Act of 1940, the Trust has registered an
indefinite number of shares of beneficial interest under the
Securities Act of 1933. I further understand that, pursuant to the
provisions of Rule 24f-2, the Trust intends to file with the
Securities and Exchange Commission making definite the
registration of 51,953,212 shares of the Trust (the "Shares") sold in
reliance upon Rule 24f-2 during the fiscal year ended December 31,
1994.
I am of the opinion that all necessary fund action precedent to the
issue of Shares has been duly taken, and that all the Shares were
legally and validly issued, and are fully paid and nonassessable
except as described in the funds' Statements of Additional
Information under the heading "Shareholder and Trustee Liability."
In rendering this opinion, I rely on the representation by the Trust
that it or its agents received consideration for the Shares in
accordance with the Declaration of Trust and I express no opinion
as to compliance with the Securities Act of 1933, the Investment
Company Act of 1940, or applicable state "Blue Sky" or securities
laws in connection with sales of the Shares.
I hereby consent to the filing of this opinion with the Securities and
Exchange Commission in connection with a Rule 24f-2 Notice
which you are about to file under the 1940 Act with said
Commission.
Very truly yours,
/s/Arthur S. Loring
Arthur S. Loring
Vice President - Legal
Mr. Costello
Fidelity School Street Trust
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