November 20, 1995
Rule 24f-2 Notice for Seligman Tax-Exempt Series Trust
Securities and Exchange Commission
Division of Investment Management
450 Fifth Street, N.W.
Washington, D.C. 20549
Attention: Division of Investment Management
File No. 2-92569
Dear Sirs:
Seligman Tax-Exempt Series Trust hereby provides the following information
with respect to sales of its capital stock pursuant to Rule 24f-2 under the
Investment Company Act of 1940:
1. Fiscal year for which notice is filed: September 30, 1995
2. Number of shares registered under the Securities Act of 1933 other
than pursuant to Rule 24f-2 which remained unsold at the beginning of such
fiscal year: -0-
3. Number of shares registered during such fiscal year other than pursuant
to Rule 24f-2: -0-
4. Number of shares sold during such fiscal year:
Shares (a)
California High-Yield Series 1,596,520
California Quality Series 915,576
Florida Series 651,598
North Carolina Series 741,111
----------
Total 3,904,805
<PAGE>
Securities and Exchange Commission November 20, 1995
Division Of Investment Management
- 2 -
5. Number of shares sold during such fiscal year in reliance upon
registration pursuant to Rule 24f-2: Same as item 4.
A filing fee of $666.23 is enclosed as calculated on the following page as
is the opinion of counsel required by Rule 24f-2.
Very truly yours,
Seligman Tax-Exempt Series Trust
Thomas G. Rose
By ____________________
Thomas G. Rose
Treasurer
Enclosure
_________________________
<PAGE>
Securities and Exchange Commission November 20, 1995
Division of Investment Management
<TABLE>
<CAPTION>
(a) The following is a calculation of the fee payable pursuant to paragraph
(c) of Rule 24f-2:
Fiscal Year Ended 9/30/95
California High-Yield California Quality Florida Series North Carolina Series Total
Series Series Fees
Class A Class D Class A Class D Class A Class D Class A Class D
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Aggregate sales price of shares
sold pursuant to Rule 24f-2 $9,601,182 $717,330 $5,603,721 $373,422 $4,219,380 $797,338 $4,456,478 $1,097,575 N/A
Aggregate redemption or repurchase
price of shares redeemed or
purchased during previous fiscal year(8,576,154) (141,123) (16,234,363) (380,342)(8,403,934)(467,448)(9,214,553)(1,240,944) N/A
Aggregate redemption or repurchase
price of shares previously applied
pursuant to Rule 24e-2(a) - - - - - - - - -
Total $1,025,028 $576,207 ($10,630,642)($6,920)($4,184,554)$329,890($4,758,075)($143,369) N/A
--------- -------- ----------- ------- ----------- ------- ----------- --------- ------
Fee (Total X .000345) $353.63 $198.79 $0.00 $0.00 $0.00 $113.81 $0.00 $0.00 $666.23
</TABLE>
<PAGE>
SELIGMAN TAX-EXEMPT SERIES TRUST
The undersigned, Treasurer of Seligman Tax-Exempt Series Trust, an
un-incorporated business trust under the laws of Massachusetts (the "Company"),
does hereby certify as follows:
1. From October 1, 1994 through September 30, 1995, the Company issued an
aggregate of 3,904,805 shares of Beneficial Interest, $0.001 par value as
follows:
Shares
California High-Yield Series 1,596,520
California Quality Series 915,576
Florida Series 651,598
North Carolina Series 741,111
2. In respect of the issuance of such 3,904,805 shares, the Company
received aggregate cash consideration (net of any sales commissions) of
$26,388,842 as follows.
California High-Yield Series $10,214,687
California Quality Series 5,840,154
Florida Series 4,910,558
North Carolina Series 5,423,443
3. With respect to each share issued, the Company received cash
consideration not less than its net asset value per share on the date issued and
not less than $0.001.
4. The Declaration of Trust permits the Trustees to issue unlimited number
of full and fractional shares of Beneficial Interest, $.001 par value, in
separate series.
In Witness Thereof, I have hereunto signed my name as Treasurer of the
Company.
Date: October 11, 1995
Thomas G. Rose
________________________
Thomas G. Rose
Treasurer
SULLIVAN & CROMWELL
NEW YORK TELEPHONE: (212) 558-4000
TELEX: 62694 (INTERNATIONAL) 127816 (DOMESTIC)
125 Broad Street, New York 10004-2498
CABLE ADDRESS: LADYCOURT, NEW YORK
FACSIMILE: (212) 558-3588 (125 Broad Street)
250 PARK AVENUE, NEW YORK 10177-0021
(212) 558-3792 (250 Park Avenue)
1701 PENNSYLVANIA AVE, N.W. WASHINGTON, D.C. 20006-5805
444 SOUTH FLOWER STREET, LOS ANGELES 90071-2901
8, PLACE VENDOME, 75001 PARIS
ST. OLAVE'S HOUSE, 9a IRONMONGER LANE, LONDON EC2V 8EY
101 COLLINS STREET, MELBOURNE 3000
2-1, MARUNOUCHI I-CHOME, CHIYODA-KU, TOKYO 100
GLOUCESTER TOWER, 11 PEDDER STREET, HONG KONG
November 20, 1995
Seligman Tax-Exempt Series Trust,
100 Park Avenue,
New York, New York 10017.
Dear Sirs:
You have requested our opinion in connection with the notice which you
propose to file pursuant to Rule 24f-2 under the Investment Company Act of 1940
with respect to your shares of beneficial interest, $0.001 par value, as
follows: 915,576 shares of beneficial interest of your California Quality Series
(the "Quality Shares"), 1,596,520 shares of beneficial interest of your
California High-Yield Series (the "High-Yield Shares"), 651,598 shares of
beneficial interest of your Florida series (the "Florida Shares") and 741,111
shares of beneficial interest of your North Carolina series (the "North Carolina
Shares").
As your counsel, we are familiar with your organization and corporate
status and validity of your shares of beneficial interest.
We advise you that, in our opinion, the Quality Shares, the High-Yield
Shares, the Florida Shares, and the North Carolina Shares are legally and
validly issued, fully paid and nonassessable.
The foregoing opinion is limited to the laws of the Commonwealth of
Massachusetts, and we are expressing no opinion as to the effect of the laws of
any other jurisdiction. With respect to all matters of Massachusetts law, we
have relied upon the opinion of Ropes & Gray, dated Novem 25, 1992, and our
opinion is subject to the same qualifications and limitations with respect to
such matters as are contained in such opinion of Ropes & Gray. We consent to the
filing of this opinion with the Securities and Exchange Commission in connection
with the notice referred to above. In giving such consent, we do not thereby
admit that we come within the category of persons whose consent is required
under Section 7 of the Securities Act of 1933.
Very truly yours,
SULLIVAN & CROMWELL
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SULLIVAN & CROMWELL
