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January 23, 1995
Securities and Exchange Commission
Attention: Document Control - EDGAR
450 Fifth Street, N.W.
Washington, D.C. 20549-1004
Re: Rule 24(f)-2 Notice for
IDS High Yield Tax-Exempt Fund, Inc.
SEC File No. 2-63552/811-2901
Commissioners:
[i] In accordance with the provisions of Rule 24f-2, IDS High
Yield Tax-Exempt Fund, Inc. hereby files its Rule 24f-2
Notice for the fiscal year ended November 30, 1994 ("Fiscal
Year").
[ii] Amount of securities registered other than under
24f-2 which were unsold at the beginning of the
fiscal year.* $0
[iii]Amount of securities registered during the fiscal
year other than under 24f-2** $0
[iv] Amount of securities sold during the fiscal
year*** ($442,374,079)
[v] Amount of securities sold pursuant to 24f-2 $0
[vi] Fee $0.00 x 0.00034483 $0.00
* 0 shares x $4.53 on January 17, 1995
** 0 shares x $4.53 on January 17, 1995
*** Sales of $1,026,750,631 minus redemptions of $1,469,124,710
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Enclosed please find an opinion of counsel.
If there are any questions, please contact the undersigned.
Very truly yours,
IDS High Yield Tax-Exempt Fund, Inc.
Leslie L. Ogg
Vice President, General Counsel & Treasurer
LLO/CW/lje
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EXHIBIT INDEX
(b)(10) OPINION OF COUNSEL
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January 23, 1995
IDS High Yield Tax-Exempt Fund, Inc.
IDS Tower 10
Minneapolis, Minnesota 55440-0010
Gentlemen:
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 States 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, 1,380,760,792 shares were issued and outstanding;
(b) That all 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 shares
and unissued shares;
(c) That the Company registered on April 24, 1979 an
indefinite number of shares pursuant to Rule 24f-2 and
is herewith filing a Rule 24f-2 Notice covering the
shares during its Fiscal Period ended November 30,
1994; and
(d) That shares which were sold at not less than their par
value and in accordance with applicable federal and
state securities laws were legally issued, fully paid
and nonassessable.
I hereby consent that the foregoing opinion may be used in
connection with the Rule 24f-2 Notice.
Very truly yours,
Leslie L. Ogg
Attorney at Law
901 S. Marquette Ave., Suite 2810
Minneapolis, Minnesota 55402-3268
