PRINCOR TAX EXEMPT BOND FUND INC
NSAR-A, 1997-06-17
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<PAGE>      PAGE  1
000 A000000 04/30/97
000 C000000 0000780267
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 PRINCOR TAX-EXEMPT BOND FUND, INC.
001 B000000 811-04449
001 C000000 5152475476
002 A000000 THE PRINCIPAL FINANCIAL GROUP
002 B000000 DES MOINES
002 C000000 IA
002 D010000 50392
002 D020000 0200
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
021  000000        0
022 A000001 MERRILL LYNCH MONEY MARKET SECURITIES
022 B000001 13-2761776
022 C000001     12400
022 D000001     15000
022 A000002 PROVIDENT
022 B000002 13-2518466
022 C000002      4400
022 D000002      4400
022 A000003 SMITH BARNEY SHEARSON
022 B000003 13-3869611
022 C000003      4406
022 D000003      1716
022 A000004 MESIROW FINANCIAL
022 B000004 36-3194849
022 C000004      2915
022 D000004      1030
022 A000005 RAYMOND JAMES & ASSOCIATES
022 B000005 59-1237041
022 C000005         0
022 D000005      3016
022 A000006 OPPENHEIMER & CO.
022 B000006 13-2798343
022 C000006      1599
022 D000006      1092
022 A000007 GIBRALTAR SECURITIES INC.
022 B000007 22-1843724
022 C000007      2074
<PAGE>      PAGE  2
022 D000007         0
022 A000008 CRAIGIE, INC.
022 B000008 54-0294670
022 C000008      1469
022 D000008         0
022 A000009 FIRST ALBANY CORP.
022 B000009 14-1391446
022 C000009      1022
022 D000009         0
022 A000010 STIFEL, NICOLAUS & COMPANY
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<PAGE>      PAGE  6
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SIGNATURE   ARTHUR S. FILEAN                             
TITLE       V.P. & SECRETARY    
 

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

<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1997
<PERIOD-END>                               APR-30-1997
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<INVESTMENTS-AT-VALUE>                     190,886,229
<RECEIVABLES>                                4,006,215
<ASSETS-OTHER>                                   9,709
<OTHER-ITEMS-ASSETS>                             2,126
<TOTAL-ASSETS>                             194,904,279
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      678,016
<TOTAL-LIABILITIES>                            678,016
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   189,379,484
<SHARES-COMMON-STOCK>                       15,651,864
<SHARES-COMMON-PRIOR>                       15,552,762
<ACCUMULATED-NII-CURRENT>                       29,572
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (1,067,531)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     5,884,738
<NET-ASSETS>                               194,226,263
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            5,845,007
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (835,414)
<NET-INVESTMENT-INCOME>                      5,009,593
<REALIZED-GAINS-CURRENT>                       585,219
<APPREC-INCREASE-CURRENT>                    (481,633)
<NET-CHANGE-FROM-OPS>                        5,113,179
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (5,771,744)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        964,417
<NUMBER-OF-SHARES-REDEEMED>                (1,190,968)
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<NET-CHANGE-IN-ASSETS>                       1,252,608
<ACCUMULATED-NII-PRIOR>                        947,865
<ACCUMULATED-GAINS-PRIOR>                  (1,652,750)
<OVERDISTRIB-NII-PRIOR>                              0
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<GROSS-EXPENSE>                                835,414
<AVERAGE-NET-ASSETS>                       194,654,966
<PER-SHARE-NAV-BEGIN>                            12.04
<PER-SHARE-NII>                                    .31
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                             (.37)
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.98
<EXPENSE-RATIO>                                    .84
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1997
<PERIOD-END>                               APR-30-1997
<INVESTMENTS-AT-COST>                      185,001,491
<INVESTMENTS-AT-VALUE>                     190,886,229
<RECEIVABLES>                                4,006,215
<ASSETS-OTHER>                                   9,709
<OTHER-ITEMS-ASSETS>                             2,126
<TOTAL-ASSETS>                             194,904,279
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      678,016
<TOTAL-LIABILITIES>                            678,016
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   189,379,484
<SHARES-COMMON-STOCK>                          554,224
<SHARES-COMMON-PRIOR>                          482,072
<ACCUMULATED-NII-CURRENT>                       29,572
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (1,067,531)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     5,884,738
<NET-ASSETS>                               194,226,263
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            5,845,007
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (835,414)
<NET-INVESTMENT-INCOME>                      5,009,593
<REALIZED-GAINS-CURRENT>                       585,219
<APPREC-INCREASE-CURRENT>                    (481,633)
<NET-CHANGE-FROM-OPS>                        5,113,179
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (156,142)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         98,369
<NUMBER-OF-SHARES-REDEEMED>                   (35,090)
<SHARES-REINVESTED>                              8,873
<NET-CHANGE-IN-ASSETS>                       1,252,608
<ACCUMULATED-NII-PRIOR>                        947,865
<ACCUMULATED-GAINS-PRIOR>                  (1,652,750)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          458,372
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                835,414
<AVERAGE-NET-ASSETS>                       194,654,966
<PER-SHARE-NAV-BEGIN>                            12.02
<PER-SHARE-NII>                                    .27
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                             (.31)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.98
<EXPENSE-RATIO>                                   1.58
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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