U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20594
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
Read instructions at end of form before preparing form.
Please print or type.
1. Name and address of issuer:
The American Funds Tax-Exempt Series I
1101 Vermont Avenue, N.W.
Washington, DC 20005
2. Name of each series or class of funds for which this notice is filed:
The Tax-Exempt Fund of Maryland The Tax-Exempt Fund of Virginia
3. Investment Company Act File Number: 811-4653
Securities Act File Number: 33-5270
4. Last day of fiscal year for which this notice is filed:
July 31, 1997
5. Check box if this notice is being filed more than 180 days after the close
of the issuer's fiscal year for purposes of reporting securities sold
after the close of the fiscal year but before termination of the
issuer's 24f-2 declaration:
[ ]
6. Date of termination of issuer's declaration under rule 24f-2(A)(1), if
applicable (see Instruction A.6):
N/A
7. Number and amount of securities of the same class or series which had been
registered under the Securities Act of 1933 other than pursuant to rule
24f-2 in a prior fiscal year, but which remained unsold at the beginning
of the fiscal year:
384,700 $6,303,578
8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2:
N/A
9. Number and aggregate sale price of securities sold during the fiscal year:
1,754,981 $28,117,484
<PAGE>
10. Number and aggregate sale price of securities sold during the fiscal year
in reliance upon registration pursuant to rule 24f-2:
1,370,281 $21,813,906
11. Number and aggregate sale price of securities issued during the fiscal
year in connection with dividend reinvestment plans, if applicable
(see Instruction B.7):
331,811 $5,221,474
12. Calculation or registration fee:
(i) Aggregate sale price of securities sold during the
fiscal year in reliance on rule 24f-2 (from Item 10): $21,813,906
(ii) Aggregate price of shares issued in connection
with dividend reinvestment plans (from Item 11,
if applicable): +5,221,474
(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year (if applicable): -23,149,588
(iv) Aggregate price of shares redeemed or repurchased
and previously applied as a reduction to filing fees
pursuant to rule 24e-2 (if applicable): + N/A
(v) Net aggregate price of securities sold and issued
during the fiscal year in reliance on rule 24f-2
[line (i), plus line (ii), less line (iii), plus line (iv)]
(if applicable) $ 3,885,792
(vi) Multiplier prescribed by Section 6(b) of the Securities
Act of 1933 or other applicable law or regulation
(see Instruction C.6): x 1/3300
(vii) Fee due [line (i) or line (v) multiplied by line (vi)]: $ 1,177.51
Instruction: Issuers should complete lines (ii), (iii), (iv), (iv), and (v)
only if the form is being filed within 60 days after the close
of the issuer's fiscal year. See Instruction C.3.
13. Check box if fees are being remitted to the Commission's lockbox
depository as described in section 3a of the Commission's Rules of
Informal and Other Procedures (17 CFR 202.3a).
[ X ]
Date of mailing or wire transfer of filing fees to the Commission's
lockbox depository:
Date:September 23, 1997
SIGNATURES
This report has been signed below by the following persons on behalf of
the issuer and in the capacities and on the dates indicated.
By (Signature and Title)* Howard L. Kitzmiller
Senior Vice President & Secretary/Treasurer
Date September 25, 1997
* Please print the name and title of the signing officer below the
signature.
September 25, 1997
The American Funds Tax-Exempt Series I
1101 Vermont Avenue, N.W.
Washington, D.C. 20005
Re: Rule 24f-2 Notice
Dear Sirs:
You have asked for our opinion with respect to the issuance
of 2,086,792 shares of The American Funds Tax-Exempt Series I, a
Massachusetts business trust, during its fiscal year ended July
31, 1997. We have examined and considered such information as we
deemed relevant to this matter, including certain provisions of
the Massachusetts statues, the Declaration of Trust, pertinent
resolutions adopted by the Trust's trustees, and the Trust's
prospectus dated November 15, 1996. Assuming the price received
for the shares complies with provisions of the Trust's
prospectus, it is our opinion that the 2,086,792 shares sold
during the Trust's fiscal year ended July 31, 1997, were legally
issued in accordance with Massachusetts law, fully paid and non-assessable.
We hereby consent to the use of this letter by the Trust in
connection with its notice filed pursuant to Rule 24f-2 under the
Investment Company Act of 1940 for its fiscal year ended July 31,
1997.
Very truly yours,
THOMPSON, O'DONNELL, MARKHAM,
NORTON & HANNON
John Jude O'Donnell
JJO:kmr
