File No. 33-05495
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549-1004
POST-EFFECTIVE
AMENDMENT NO. 10
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, SERIES 151
(Exact Name of Trust)
NIKE SECURITIES L.P.
(Exact Name of Depositor)
1001 Warrenville Road
Lisle, Illinois 60532
(Complete address of Depositor's 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_: June 30, 1997
:____: 60 days after filing pursuant to paragraph (a)
:____: on (date) pursuant to paragraph (a) of rule (485 or
486)
Pursuant to Rule 24f-2 under the Investment Company Act of 1940,
the issuer has registered an indefinite amount of securities. A
24f-2 Notice for the offering was last filed on April 10, 1997.
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 Consent of Independent Auditors
Financial Data Schedule
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, Series 151 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.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the
Registrant, The First Trust of Insured Municipal Bonds, Series
151, 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 June 30, 1997.
THE FIRST TRUST OF INSURED MUNICIPAL BONDS, SERIES 151
(Registrant)
By NIKE SECURITIES L.P.
(Depositor)
By Robert 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 Sole Director of )
Nike Securities )
Corporation, the )
General Partner ) June 30, 1997
of Nike Securities L.P. )
)
)
)Robert M. Porcellino
)Attorney-in-Fact**
*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 wi
th the Securities and Exchange Commission in connection with
Amendment No. 1 to Form S-6 of The First Trust Combined Series
258 (File No. 33-63483) and the same is hereby incorporated
herein by this reference.
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 30, 1997 in this
Post-Effective Amendment to the Registration Statement and
related Prospectus of The First Trust of Insured Municipal Bonds
dated June 24, 1997.
ERNST & YOUNG LLP
Chicago, Illinois
June 23, 1997
