Rule 497(b)
Registration No. 33-00545
CHANGES IN TRUST PORTFOLIO
MUNICIPAL SECURITIES TRUST HIGH INCOME SERIES #1
COUNTY OF YANKTON, SOUTH DAKOTA ECONOMIC
DEVELOPMENT REVENUE BONDS (RIVERVIEW PROPERTIES,
LTD. PROJECT) SERIES 1979-B 9.70% DUE 6/01/2009
The Sponsor has been informed by the Bond Trustee that the owner,
Riverview Properties, Ltd. has failed to make monthly payments on
its loan and therefore has determined that the June, 1994
interest payment will not be paid to bondholders.
The Sponsor has been advised that the owner is currently
attempting to renegotiate the terms of the mortgage loan with the
Farmers Home Administration (FmHA). The Sponsor cannot predict
the outcome of these negotiations, however; they will keep the
unitholders informed as to any material changes that may occur.
This non-accrual will result in reduced interest distributions
per unit of approximately $79.03 under the monthly plan, $79.54
under the semi-annual plan and $79.71 under the annual plan.
As of the date hereof, these bonds represent 1.8% of the
aggregate amount of bonds in the Trust.
