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File No. 2-90971
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549-1004
POST-EFFECTIVE
AMENDMENT NO. 14
TO
FORM S-6
For Registration Under the Securities Act of 1933 of Securities
of Unit Investment Trusts Registered on Form N-8B-2
THE FIRST TRUST OF INSURED MUNICIPAL BONDS-
MULTI STATE, SERIES 3
(Exact Name of Trust)
NIKE SECURITIES L.P.
(Exact Name of Depositor)
1001 Warrenville Road
Lisle, Illinois 60532
(Complete address of Depositors principal executive offices)
NIKE SECURITIES L.P. CHAPMAN AND CUTLER
Attn: James A. Bowen Attn: Eric F. Fess
1001 Warrenville Road 111 West Monroe Street
Lisle, Illinois 60532 Chicago, Illinois 60603
(Name and complete address of agents for service)
It is proposed that this filing will become effective (check
appropriate box)
:____: immediately upon filing pursuant to paragraph (b)
:__X_: May 29, 1998
:____: 60 days after filing pursuant to paragraph (a)
:____: on (date) pursuant to paragraph (a) of rule (485 or
486)
CONTENTS OF POST-EFFECTIVE AMENDMENT
OF REGISTRATION STATEMENT
This Post-Effective Amendment of Registration Statement
comprises the following papers and documents:
The facing sheet
The purpose of the Amendment
The signatures
THE PURPOSE OF THE AMENDMENT
The purpose of this amendment is to terminate the
declaration made pursuant to Rule 24f-2 promulgated under the
Investment Company Act of 1940, as amended, because Units of The
First Trust of Insured Municipal Bonds - Multi State, Series 3
are no longer being offered for sale in the secondary market. A
final Rule 24f-2 Notice with respect to such series has been
filed concurrently with this filing.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933,
the Registrant, The First Trust of Insured Municipal Bonds -
Multi State, Series 3, certifies that it meets all of the
requirements for effectiveness of this Registration Statement
pursuant to Rule 485(b) under the Securities Act of 1933 and has
duly caused this Post-Effective Amendment of its Registration
Statement to be signed on its behalf by the undersigned thereunto
duly authorized in the Village of Lisle and State of Illinois on
May 29, 1998.
THE FIRST TRUST OF INSURED MUNICIPAL
BONDS - MULTI STATE, SERIES 3
(Registrant)
ByNIKE SECURITIES L.P.
(Depositor)
ByRobert M. Porcellino
Vice President
Pursuant to the requirements of the Securities Act of 1933,
this Post-Effective Amendment of Registration Statement has been
signed below by the following person in the capacity and on the
date indicated:
Signature Title* Date
Robert D. Van Kampen Director of )
Nike Securities )
Corporation, the )
General Partner of ) May 29, 1998
Nike Securities L.P. )
)
)
David J. Allen Director of )Robert M. Porcellino
Nike Securities )Attorney-in-Fact**
Corporation, the
General Partner of
Nike Securities L.P.
* The title of the person named herein represents his capacity
in and relationship to Nike Securities L.P., the Depositor.
** An executed copy of the related power of attorney was filed
with the Securities and Exchange Commission in connection
with Amendment No. 1 to Form S-6 of The First Trust Special
Situations Trust, Series 18 (File No. 33-42683) and the same
is hereby incorporated herein by this reference.
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CONSENT OF INDEPENDENT AUDITORS
We consent to the reference to our firm under the caption
"Experts" and to the use of our report dated May 8, 1998 in this
Post-Effective Amendment to the Registration Statement and
related Prospectus of The First Trust of Insured Municipal Bonds
dated May 27, 1998.
ERNST & YOUNG LLP
Chicago, Illinois
May 26, 1998
