OPPENHEIMER MUNICIPAL BOND FUND
NSAR-A, 1997-04-01
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002 A000000 TWO WORLD TRADE CENTER
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002 D020000 0203
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022 A000001 BEAR SECURITIES CORP.
022 B000001 13-3299429
022 C000001     27857
022 D000001      5980
022 A000002 SMITH BARNEY, HARRIS UPHAM & CO., INC.
022 B000002 13-3371860
<PAGE>      PAGE  2
022 C000002     18185
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022 A000003 MORGAN GUARANTY TRUST CO.
022 B000003 13-5123346
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022 A000004 GOLDMAN, SACHS & CO.
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022 A000008 FIRST ALBANY CORP.
022 B000008 14-1391446
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022 A000009 EVEREN SECURITIES, INC.
022 B000009 36-3223831
022 C000009      5865
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022 B000010 13-3217611
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SIGNATURE   GEORGE C. BOWEN                              
TITLE       TREASURER           
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>                                                                   275857
<NAME>           OPPENHEIMER MUNICIPAL BOND  FUND-A
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       JUL-31-1997
<PERIOD-START>                                                          AUG-01-1996
<PERIOD-END>                                                            JAN-31-1997
<INVESTMENTS-AT-COST>                                                                 634,394,056
<INVESTMENTS-AT-VALUE>                                                                657,607,983
<RECEIVABLES>                                                                           8,879,212
<ASSETS-OTHER>                                                                             72,843
<OTHER-ITEMS-ASSETS>                                                                      124,162
<TOTAL-ASSETS>                                                                        666,684,200
<PAYABLE-FOR-SECURITIES>                                                                        0
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                               4,542,368
<TOTAL-LIABILITIES>                                                                     4,542,368
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                              636,775,455
<SHARES-COMMON-STOCK>                                                                  58,676,179
<SHARES-COMMON-PRIOR>                                                                  60,586,867
<ACCUMULATED-NII-CURRENT>                                                               1,359,624
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                                   461,576
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                               23,545,177
<NET-ASSETS>                                                                          580,031,154
<DIVIDEND-INCOME>                                                                               0
<INTEREST-INCOME>                                                                      21,772,718
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                          3,245,096
<NET-INVESTMENT-INCOME>                                                                18,527,622
<REALIZED-GAINS-CURRENT>                                                                  484,679
<APPREC-INCREASE-CURRENT>                                                               8,587,194
<NET-CHANGE-FROM-OPS>                                                                  27,599,495
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                              16,020,877
<DISTRIBUTIONS-OF-GAINS>                                                                        0
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                 2,428,819
<NUMBER-OF-SHARES-REDEEMED>                                                             5,408,806
<SHARES-REINVESTED>                                                                     1,069,299
<NET-CHANGE-IN-ASSETS>                                                                 (6,422,359)
<ACCUMULATED-NII-PRIOR>                                                                   744,031
<ACCUMULATED-GAINS-PRIOR>                                                                 (23,103)
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                   1,768,801
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                         3,245,096
<AVERAGE-NET-ASSETS>                                                                  589,447,000
<PER-SHARE-NAV-BEGIN>                                                                           9.74
<PER-SHARE-NII>                                                                                 0.28
<PER-SHARE-GAIN-APPREC>                                                                         0.14
<PER-SHARE-DIVIDEND>                                                                            0.27
<PER-SHARE-DISTRIBUTIONS>                                                                       0.00
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                             9.89
<EXPENSE-RATIO>                                                                                 0.87
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>                                                                   275857
<NAME>           OPPENHEIMER MUNICIPAL BOND FUND-B
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       JUL-31-1997
<PERIOD-START>                                                          AUG-01-1996
<PERIOD-END>                                                            JAN-31-1997
<INVESTMENTS-AT-COST>                                                                 634,394,056
<INVESTMENTS-AT-VALUE>                                                                657,607,983
<RECEIVABLES>                                                                           8,879,212
<ASSETS-OTHER>                                                                             72,843
<OTHER-ITEMS-ASSETS>                                                                      124,162
<TOTAL-ASSETS>                                                                        666,684,200
<PAYABLE-FOR-SECURITIES>                                                                        0
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                               4,542,368
<TOTAL-LIABILITIES>                                                                     4,542,368
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                              636,775,455
<SHARES-COMMON-STOCK>                                                                   7,828,669
<SHARES-COMMON-PRIOR>                                                                   7,612,017
<ACCUMULATED-NII-CURRENT>                                                               1,359,624
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                                   461,576
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                               23,545,177
<NET-ASSETS>                                                                           77,260,040
<DIVIDEND-INCOME>                                                                               0
<INTEREST-INCOME>                                                                      21,772,718
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                          3,245,096
<NET-INVESTMENT-INCOME>                                                                18,527,622
<REALIZED-GAINS-CURRENT>                                                                  484,679
<APPREC-INCREASE-CURRENT>                                                               8,587,194
<NET-CHANGE-FROM-OPS>                                                                  27,599,495
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                               1,783,088
<DISTRIBUTIONS-OF-GAINS>                                                                        0
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                   639,027
<NUMBER-OF-SHARES-REDEEMED>                                                               539,891
<SHARES-REINVESTED>                                                                       117,516
<NET-CHANGE-IN-ASSETS>                                                                 (6,422,359)
<ACCUMULATED-NII-PRIOR>                                                                   744,031
<ACCUMULATED-GAINS-PRIOR>                                                                 (23,103)
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                   1,768,801
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                         3,245,096
<AVERAGE-NET-ASSETS>                                                                   76,245,000
<PER-SHARE-NAV-BEGIN>                                                                           9.73
<PER-SHARE-NII>                                                                                 0.24
<PER-SHARE-GAIN-APPREC>                                                                         0.13
<PER-SHARE-DIVIDEND>                                                                            0.23
<PER-SHARE-DISTRIBUTIONS>                                                                       0.00
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                             9.87
<EXPENSE-RATIO>                                                                                 1.65
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>                                                                   275857
<NAME>           OPPENHEIMER  MUNICIPAL  BOND  FUND-C
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       JUL-31-1997
<PERIOD-START>                                                          AUG-01-1996
<PERIOD-END>                                                            JAN-31-1997
<INVESTMENTS-AT-COST>                                                                 634,394,056
<INVESTMENTS-AT-VALUE>                                                                657,607,983
<RECEIVABLES>                                                                           8,879,212
<ASSETS-OTHER>                                                                             72,843
<OTHER-ITEMS-ASSETS>                                                                      124,162
<TOTAL-ASSETS>                                                                        666,684,200
<PAYABLE-FOR-SECURITIES>                                                                        0
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                               4,542,368
<TOTAL-LIABILITIES>                                                                     4,542,368
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                              636,775,455
<SHARES-COMMON-STOCK>                                                                     491,560
<SHARES-COMMON-PRIOR>                                                                     432,798
<ACCUMULATED-NII-CURRENT>                                                               1,359,624
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                                   461,576
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                               23,545,177
<NET-ASSETS>                                                                            4,850,638
<DIVIDEND-INCOME>                                                                               0
<INTEREST-INCOME>                                                                      21,772,718
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                          3,245,096
<NET-INVESTMENT-INCOME>                                                                18,527,622
<REALIZED-GAINS-CURRENT>                                                                  484,679
<APPREC-INCREASE-CURRENT>                                                               8,587,194
<NET-CHANGE-FROM-OPS>                                                                  27,599,495
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                                 108,064
<DISTRIBUTIONS-OF-GAINS>                                                                        0
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                    88,251
<NUMBER-OF-SHARES-REDEEMED>                                                                36,245
<SHARES-REINVESTED>                                                                         6,756
<NET-CHANGE-IN-ASSETS>                                                                 (6,422,359)
<ACCUMULATED-NII-PRIOR>                                                                   744,031
<ACCUMULATED-GAINS-PRIOR>                                                                 (23,103)
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                   1,768,801
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                         3,245,096
<AVERAGE-NET-ASSETS>                                                                    4,622,000
<PER-SHARE-NAV-BEGIN>                                                                           9.73
<PER-SHARE-NII>                                                                                 0.24
<PER-SHARE-GAIN-APPREC>                                                                         0.13
<PER-SHARE-DIVIDEND>                                                                            0.23
<PER-SHARE-DISTRIBUTIONS>                                                                       0.00
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                             9.87
<EXPENSE-RATIO>                                                                                 1.65
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>


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