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PAINEWEBBER MUNICIPAL SERIES
CERTIFICATE OF VICE PRESIDENT AND SECRETARY
I, Dianne E. O'Donnell, Vice President and Secretary of
PaineWebber Municipal Series ("Trust"), hereby certify that the
board of trustees of the Trust adopted the following resolutions
which became effective on November 10, 1995;
RESOLVED, that the unlimited number of shares of beneficial
interest previously known as the "Class D shares" of PaineWebber
New York Tax-Free Income Fund be renamed the "Class C" shares of
that Fund; and be it further
RESOLVED, that the unlimited number of shares of beneficial
interest previously known as the "Class C shares" of PaineWebber
New York Tax-Free Income Fund be renamed the "Class Y" shares of
that Fund; and be it further
RESOLVED, that the unlimited number of shares of beneficial
interest previously known as the "Class D shares" of PaineWebber
Municipal High Income Fund be renamed the "Class C" shares of
that Fund; and be it further
RESOLVED, that the unlimited number of shares of beneficial
interest previously known as the "Class C shares" of PaineWebber
Municipal High Income Fund be renamed the "Class Y" shares of
that Fund.
Dated: December 15, 1995 By: Diane E. O'Donnell
Diane E, O'Donnell
Vice President and Secretary
PaineWebber Municipal Series
New York, New York (ss)
Subscribed and sworn to before me this 15th day of December, 1995.
Karyn Freeman
Notary Public
Board of Trustees
PaineWebber Municipal Series
In planning and performing our audit of the financial statements of
PaineWebber Municipal Series (comprising, respectively, PaineWebber
Municipal High Income Fund and PaineWebber New York Tax-Free Income
Fund) for the year ended February 29, 1996, we considered its internal
control structure, including procedures for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing
our opinion on the financial statements and to comply with the requirements
of Form N-SAR, not to provide assurance on the internal control structure.
The management of PaineWebber Municipal Series is responsible for
establishing and maintaining an internal control structure. In fulfilling
this responsibility, estimates and judgments by management are required to
assess the expected benefits and related costs of internal control structure
policies and procedures. Two of the objectives of an internal control
structure are to provide management with reasonable, but not absolute,
assurance that assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance with management's
authorization and recorded properly to permit preparation of financial
statements in conformity with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce
to a relatively low level the risk that errors or irregularities in amounts
that would be material in relation to the financial statements being audited
may occur and not be detected within a timely period by employees in the
normal course of performing their assigned functions. However, we noted no
matters involving the internal control structure, including procedures for
safeguarding securities, that we consider to be material weaknesses as defined
above as of February 29, 1996.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
ERNST & YOUNG LLP
April 12, 1996
