September 22, 1995
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Rule 24f-2 Notice for
Merrill Lynch Multi-State
Municipal Series Trust
File Nos. 33-35442, 33-35441,
33-39555, 33-44734,
33-35987, 33-40480,
33-44500, 33-41311,
33-48692, 33-55576,
33-49873, 33-50051,
33-52303, 33-48693,
33-64502, 33-54341
Dear Sirs:
In accordance with the provisions of
Rule 24f-2 under the Investment
Company Act of 1940, MerrillLynch
Multi-State Municipal Series Trust
(the "Trust") hereby transmits its
Rule 24f-2 Notice (the "Notice") on
behalf of sixteen of its constituent
portfolios: the Merrill Lynch
Pennsylvania, New Jersey, Florida,
Minnesota, Massachusetts, Texas,
Ohio, Arizona, North Carolina,
Michigan, Maryland, Colorado, New
Mexico, Connecticut, Oregon and
Arkansas Municipal Bond Funds,
respectively (collectively referred to
herein as the "Funds"). *
This Notice is being filed for the
fiscal year of each of the above
referenced Funds ended July 31,
1995 (the "Fiscal Year").
*In addition to these Funds, the
Trust has a portfolio, Merrill Lynch
Georgia Municipal Bond Fund,
which was declared effective by
the SEC but has never commenced
operations, and Merrill Lynch
Alabama Municipal Bond Fund,
which has not been declared
effective.
<PAGE>
Set forth below is the information
required by Rule 24f-2 for each
Fund. Included in such information
are the calculations on which the
enclosed filing fee is based.
I. Merrill Lynch Pennsylvania
Municipal Bond Fund
1. No shares of Beneficial Interest
of the Fund which had been
registered under the Securities
Act of 1933 (the "Securities Act")
other than pursuant to Rule 24f-2
remained unsold at the beginning
of the Fiscal Year.
2. No shares of Beneficial Interest
were registered under the
Securities Act during the Fiscal
Year other than pursuant to Rule
24f-2.
3. 2,457,354 shares of Beneficial
Interest were sold during the
Fiscal Year.*
4. 2,457,354 shares of Beneficial
Interest were sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities the
registration of which this Notice
makes definite in number were
legally issued, fully paid and
non-assessable.
5. Since the aggregate sales price
of securities sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2 is less than the aggregate
redemption price of securities
redeemed during the Fiscal
Year, no filing fee is required in
connection with the filing of this
notice. The calculation is as
follows:
(i) Actual aggregate price for
the 2,457,354 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $26,504,749
reduced by
(ii) Aggregate redemption price
for the 3,629,317 shares of
Beneficial Interest redeemed
during the Fiscal Year.** $39,005,822
equal amount on which filing fee
is based $ -0-
____________
*Of this amount 252,327 Class A
shares were sold at an aggregate
price of $2,717,084, 1,773,889
Class B shares were sold at an
aggregate price of $19,140,874,
190,095 Class C shares were sold
at an aggregate price of
$2,057,684 and 241,043 Class D
shares were sold at an aggregate
price of $2,589,107. The
aggregate price of all shares of
Beneficial Interest sold during the
Fiscal Year was $26,504,749. All
of such amount was sold in reliance
upon registration pursuant to Rule
24f-2.
**Of this amount 808,932 Class A
shares were redeemed at an
aggregate price of $8,690,691,
2,786,939 Class B shares were
redeemed at an aggregate price
of $29,948,409, 23,509 Class C
shares were redeemed at an
aggregate price of $258,434 and
9,937 Class D shares were
redeemed at an aggregate price of
$108,288. The aggregate price of
all shares of Beneficial Interest
redeemed during the Fiscal Year
was $39,005,822.
<PAGE>
II. Merrill Lynch New Jersey
Municipal Bond Fund
1. No shares of Beneficial Interest
of the Fund which had been
registered under the Securities
Act of 1933 (the "Securities
Act") other than pursuant to
Rule 24f-2 remained unsold at
the beginning of the Fiscal Year.
2. No shares of Beneficial Interest
were registered under the
Securities Act during the Fiscal
Year other than pursuant to
Rule 24f-2.
3. 3,062,217 shares of Beneficial
Interest were sold during the
Fiscal Year.*
4. 3,062,217 shares of Beneficial
Interest were sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in
number were legally issued,
fully paid and non-assessable.
5. Since the aggregate sales price
of securities sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2 is less than the aggregate
redemption price of securities
redeemed during the Fiscal
Year, no filing fee is required
in connection with the filing of
this notice. The calculation is
as follows:
(i) Actual aggregate price for
the 3,062,217 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $32,032,036
____________
*Of this amount 285,352 Class A
shares were sold at an aggregate
price of $3,018,684, 2,388,253
Class B shares were sold at an
aggregate sale price of
$24,978,371, 133,835 Class C
shares were sold at an aggregate
price of $1,406,245 and 254,777
Class D shares were sold at an
aggregate price of $2,628,736.
The aggregate sale price of all
shares of Beneficial Interest sold
during the Fiscal Year was
$32,032,036.
<PAGE>
reduced by
(ii) Aggregate redemption price
for the 5,421,879 shares of
Beneficial Interest redeemed
during the Fiscal Year.* $56,380,185
equal amount on which filing fee
is based $ -0-
III. Merrill Lynch Florida Municipal
Bond Fund
1. No shares of Beneficial Interest
of the Fund which had been
registered under the Securities
Act of 1933 (the "Securities
Act") other than pursuant to Rule
24f-2 remained unsold at the
beginning of the Fiscal Year.
2. No shares of Beneficial Interest
were registered under the
Securities Act during the Fiscal
year other than pursuant to Rule
24f-2.
3. 6,966,967 shares of Beneficial
Interest were sold during the
Fiscal Year.**
4. 6,966,967 shares of Beneficial
Interest were sold during the
Fiscal year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in number
were legally issued, fully paid
and non-assessable.
_______________
*Of this amount 1,096,857 Class A
shares were redeemed at an
aggregate price of $11,448,312,
4,280,646 Class B shares were
redeemed at an aggregate price of
$44,462,443, 10,493 Class C shares
were redeemed at an aggregate price
of $112,724 and 33,883 Class D
shares were redeemed at an
aggregate price of $356,706. The
aggregate price of all shares of
Beneficial Interest redeemed during
the Fiscal Year was $56,380,185.
**Of this amount 540,960 Class A
shares were sold at an aggregate
price of $5,210,680, 5,042,475
Class B shares were sold at an
aggregate price of $48,506,180,
289,304 Class C shares were sold
at an aggregate price of
$2,806,834 and 1,094,228 Class D
shares were sold at an aggregate
price of $10,325,478. The
aggregate sale price of all shares
of Beneficial Interest sold during
the Fiscal Year was $66,849,172.
<PAGE>
5. Since the aggregate sales price
of securities sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2 is less than the aggregate
redemption price of securities
redeemed during the Fiscal
Year, no filing fee is required
in connection with the filing of
this notice. The calculation is
as follows:
(i) Actual aggregate price for
the 6,966,967 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $66,849,172
reduced by
(ii) Aggregate redemption
price for the 10,086,804
shares of Beneficial
Interest redeemed during
the Fiscal Year.* $96,474,358
equal amount on which filing fee
is based $ -0-
IV. Merrill Lynch Minnesota
Municipal Bond Fund
1. No shares of Beneficial Interest
of the Fund which had been
registered under the Securities
Act of 1933 (the "Securities
Act") other than pursuant to
Rule 24f-2 remained unsold at
the beginning of the Fiscal Year.
2. 144,515 shares of Beneficial
Interest were registered under
the Securities Act during the
Fiscal Year other than pursuant
to Rule 24f-2.
____________
*Of this amount 2,436,216 Class A
shares were redeemed at an
aggregate price of $23,406,816,
7,380,937 Class B shares were
redeemed at an aggregate price
of $70,478,198, 93,079 Class C
shares were redeemed at an
aggregate price of $901,207 and
176,572 Class D shares were
redeemed at an aggregate price
of $1,688,137. The aggregate
price of all shares of Beneficial
Interest redeemed during the
Fiscal Year was $96,474,358.
<PAGE>
3. 664,756 shares of Beneficial
Interest were sold during the
Fiscal Year.*
4. 520,241 shares of Beneficial
Interest were sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the
Trust, indicating that the
securities the registration of
which this Notice makes
definite in number were
legally issued, fully paid and
non-assessable.
5. Since the aggregate sales
price of securities sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2 is
less than the aggregate
redemption price of securities
redeemed during the Fiscal
Year, no filing fee is required
in connection with the filing
of this notice. The calculation
is as follows:
(i) Maximum possible price for
the 520,241 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2.
(based on a maximum
offering price of $11.02) $ 5,733,056
reduced by
(ii) Aggregate redemption price
for the 1,361,542 shares
of Beneficial Interest
redeemed during the Fiscal
Year.** $13,564,251
equal amount on which filing fee
is based $ -0-
_______________
*Of this amount 49,335 Class A
shares were sold at an
aggregate price of $497,580,
500,298 Class B shares were
sold at an aggregate price of
$5,026,448, 38,161 Class C
shares were sold at an
aggregate price of $389,432
and 76,912 Class D shares
were sold at an aggregate price
of $785,165. The aggregate
sale price of all shares of
Beneficial Interest sold during
the Fiscal Year was $6,698,627.
**Of this amount 249,214 Class
A shares were redeemed at an
aggregate price of $2,473,727,
1,109,526 Class B shares were
redeemed at an aggregate price
of $11,061,375, 2,374 Class C
shares were redeemed at an
aggregate price of $24,700 and
428 Class D shares were
redeemed at an aggregate price
of $4,449. The aggregate price
of all shares of Beneficial Interest
redeemed during the Fiscal Year
was $13,564,251.
<PAGE>
V. Merrill Lynch Massachusetts
Municipal Bond Fund
1. No shares of Beneficial Interest
of the Fund which had been
registered under the Securities
Act of 1933 (the "Securities Act")
other than pursuant to Rule
24f-2 remained unsold at the
beginning of the Fiscal Year.
2. No shares of Beneficial Interest
were registered under the
Securities Act during the Fiscal
Year other than pursuant to
Rule 24f-2.
3. 1,221,308 shares of Beneficial
Interest were sold during the
Fiscal Year.*
4. 1,221,308 shares of Beneficial
Interest were sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in
number were legally issued,
fully paid and non-assessable.
5. Since the aggregate sales price
of securities sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2 is less than the aggregate
redemption price of securities
redeemed during the Fiscal
Year, no filing fee is required in
connection with the filing of this
notice. The calculation is as
follows:
(i) Actual aggregate price for the
1,221,308 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon
registration pursuant to
Rule 24f-2. $12,509,497
____________
*Of this amount 117,446 Class A
shares were sold at an aggregate
price of $1,165,246, 958,141
Class B shares were sold at an
aggregate price of $9,838,263,
67,137 Class C shares were sold
at an aggregate price of $696,018
and 78,584 Class D shares were
sold at an aggregate price of
$809,970. The aggregate sale
price of all shares of Beneficial
Interest sold during the Fiscal
Year was $12,509,497.
reduced by
(ii) Aggregate redemption
price for the 2,370,897
shares of Beneficial
Interest redeemed
during the Fiscal Year.* $24,118,534
equal amount on which filing
fee is based $ -0-
VI. Merrill Lynch Texas
Municipal Bond Fund
1. No shares of Beneficial Interest
of the Fund which had been
registered under the Securities
Act of 1933 (the "Securities Act")
other than pursuant to Rule
24f-2 remained unsold at the
beginning of the Fiscal Year.
2. No shares of Beneficial Interest
were registered under the
Securities Act during the Fiscal
Year other than pursuant to
Rule 24f-2.
3. 1,094,302 shares of Beneficial
Interest were sold during the
Fiscal Year.**
4. 1,094,302 shares of Beneficial
Interest were sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in number
were legally issued, fully paid
and non-assessable.
____________
*Of this amount 298,026 Class A
shares were redeemed at an
aggregate price of $3,003,666,
2,039,329 class B shares were
redeemed at an aggregate price
of $20,760,936, 26,353 Class C
shares were redeemed at an
aggregate price of $280,287
and 7,189 Class D shares were
redeemed at an aggregate price
of $73,645. The aggregate price
of all shares of Beneficial Interest
redeemed during the Fiscal Year
was $24,118,534.
**Of this amount 87,162 Class A
shares were sold at an aggregate
price of $894,684, 873,516 Class
B shares were sold at an aggregate
price of $8,972,030, 54,172
Class C shares were sold at an
aggregate price of $564,922 and
79,452 Class D shares were sold at
an aggregate price of $823,820.
The aggregate sale price of all
shares of Beneficial Interest sold
during the Fiscal Year was
$11,255,456.
<PAGE>
5. Since the aggregate sales price
of securities sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2 is less than the aggregate
redemption price of securities
redeemed during the Fiscal
Year, no filing fee is required
in connection with the filing
of this notice. The calculation
is as follows:
(i) Actual aggregate price for
the 1,094,302 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $11,255,456
reduced by
(ii) Aggregate redemption
price for the 2,151,632
shares of Beneficial
Interest redeemed during
the Fiscal Year.* $22,167,586
equal amount on which filing
fee is based $ -0-
VII. Merrill Lynch Ohio Municipal
Bond Fund
1. No shares of Beneficial Interest
of the Fund which had been
registered under the Securities
Act of 1933 (the "Securities
Act") other than pursuant to
Rule 24f-2 remained unsold
at the beginning of the Fiscal
Year.
2. No shares of Beneficial Interest
were registered under the
Securities Act during the Fiscal
Year other than pursuant to
Rule 24f-2.
____________
*Of this amount 311,999 Class A
shares were redeemed at an
aggregate price of $3,202,546,
1,766,969 Class B shares were
redeemed at an aggregate price
of $18,188,989, 7,534 Class C
shares were redeemed at an
aggregate price of $80,283 and
65,130 Class D shares were
redeemed at an aggregate price
of $695,768. The aggregate price
of all shares of Beneficial Interest
redeemed during the Fiscal Year
was $22,167,586.
<PAGE>
3. 1,744,717 shares of Beneficial
Interest were sold during the
Fiscal Year.*
4. 1,744,717 shares of Beneficial
Interest were sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in
number were legally issued,
fully paid and non-assessable.
5. Since the aggregate sales
price of securities sold during
the Fiscal Year in reliance
upon registration pursuant to
Rule 24f-2 is less than the
aggregate redemption of the
securities redeemed during
the Fiscal Year, no filing fee
is required in connection with
the filing of this notice. The
calculation is as follows:
(i) Actual aggregate price for
the 1,744,717 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $17,842,752
reduced by
(ii) Aggregate redemption
price for the 1,935,490
shares of Beneficial
Interest redeemed during
the Fiscal Year.** $19,789,784
equal amount on which filing
fee is based $ -0-
*Of this amount 181,071 Class A
shares were sold at an aggregate
price of $1,872,623, 1,171,885
Class B shares were sold at an
aggregate price of $12,053,962,
88,400 Class C shares were sold
at an aggregate price of
$911,000 and 303,361 Class D
shares were sold at an aggregate
price of $3,005,167. The
aggregate sale price of all shares
of Beneficial Interest sold during
the Fiscal Year was $17,842,752.
**Of this amount 403,178 Class A
shares were redeemed at an
aggregate price of $4,123,436,
1,524,736 Class B shares were
redeemed at an aggregate price
of $15,586,483, 6,809 Class C
shares were redeemed at an
aggregate price of $71,984 and
767 Class D shares were
redeemed at an aggregate price
of $7,881. The aggregate price
of all shares of Beneficial Interest
redeemed during the Fiscal Year
was $19,789,784.
<PAGE>
VIII. Merrill Lynch Arizona
Municipal Bond Fund
1. No shares of Beneficial Interest
of the Fund which had been
registered under the Securities
Act of 1933 (the "Securities
Act") other than pursuant to
Rule 24f-2 remained unsold at
the beginning of the Fiscal
Year.
2. No shares of Beneficial Interest
were registered under the
Securities Act during the Fiscal
Year other than pursuant to
Rule 24f-2.
3. 1,303,433 shares of Beneficial
Interest were sold during the
Fiscal Year.*
4. 1,303,433 shares of Beneficial
Interest were sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in
number were legally issued,
fully paid and non-assessable.
5. Since the aggregate sales price
of securities sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2 is less than the
aggregate redemption price
of securities redeemed during
the Fiscal Year, no filing fee is
required in connection with the
filing of this notice. The
calculation is as follows:
(i) Actual aggregate price for
the 1,303,433 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $13,328,923
____________
*Of this amount 187,774 Class A
shares were sold at an
aggregate price of $1,932,521,
981,663 Class B shares were
sold at an aggregate price of
$10,018,567, 69,910 Class C
shares were sold at an aggregate
price of $729,055 and 64,086
Class D shares were sold at an
aggregate price of $648,780.
The aggregate sale price of all
shares of Beneficial Interest
sold during the Fiscal Year
was $13,328,923.
reduced by
(ii) Aggregate redemption
price for the 2,562,840
shares of Beneficial
Interest redeemed
during the Fiscal Year.* $25,934,842
equal amount on which filing
fee is based $ -0-
IX. Merrill Lynch North Carolina
Municipal Bond Fund
1. No shares of Beneficial Interest
of the Fund which had been
registered under the Securities
Act of 1933 (the "Securities
Act") other than pursuant to
Rule 24f-2 remained unsold
at the beginning of the
Fiscal Year.
2. No shares of Beneficial Interest
were registered under the
Securities Act during the Fiscal
Year other than pursuant to
Rule 24f-2.
3. 1,182,706 shares of Beneficial
Interest were sold during the
Fiscal Year.**
4. 1,182,706 shares of Beneficial
Interest were sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in
number were legally issued,
fully paid and non-assessable.
____________
*Of this amount 573,315 Class A
shares were redeemed at an
aggregate price of $5,830,865,
1,983,196 Class B shares were
redeemed at an aggregate price
of $20,087,313, 727 Class C
shares were redeemed at an
aggregate price of $7,648 and
5,602 Class D shares were
redeemed at an aggregate price
of $59,016. The aggregate price
of all shares of Beneficial Interest
redeemed during the Fiscal Year
was $25,934,842.
**Of this amount 84,037 Class A
shares were sold at an aggregate
price of $853,381, 881,166 Class
B shares were sold at an
aggregate price of $8,833,126,
80,718 Class C shares were sold
at an aggregate price of $831,926
and 136,785 Class D shares were
sold at an aggregate price of
$1,325,823. The aggregate sale
price of all shares of Beneficial
Interest sold during the Fiscal
Year was $11,844,256.
<PAGE>
5. Since the aggregate sales price
of securities sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2 is less than the
aggregate redemption price
of securities redeemed during
the Fiscal Year, no filing fee is
required in connection with the
filing of this notice. The
calculation is as follows:
(i) Actual aggregate price for
the 1,182,706 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $11,844,256
reduced by
(ii) Aggregate redemption
price for the 1,434,384
shares of Beneficial
Interest redeemed during
the Fiscal Year.* $14,236,521
equal amount on which filing
fee is based $ -0-
X. Merrill Lynch Michigan
Municipal Bond Fund
1. No shares of Beneficial Interest
of the Fund which had been
registered under the Securities
Act of 1933 (the "Securities
Act") other than pursuant to
Rule 24f-2 remained unsold at
the beginning of the Fiscal Year.
2. No shares of Beneficial Interest
were registered under the
Securities Act during the Fiscal
Year other than pursuant to
Rule 24f-2.
3. 1,996,154 shares of Beneficial
Interest were sold during the
Fiscal Year.**
____________
*Of this amount 299,936 Class A
shares were redeemed at an
aggregate price of $2,960,930,
1,116,312 Class B shares were
redeemed at an aggregate price
of $11,088,915, 11,992 Class C
shares were redeemed at an
aggregate price of $123,319
and 6,144 Class D shares were
redeemed at an aggregate price
of $63,357. The aggregate price
of all shares of Beneficial Interest
redeemed during the Fiscal Year
was $14,236,521.
**Of this amount 150,627 Class A
shares were sold at an aggregate
price of $1,460,513, 1,624,665
Class B shares were sold at an
aggregate price of $15,578,856,
106,814 Class C shares were sold
at an aggregate price of
$1,035,707 and 114,048 Class D
shares were sold at an aggregate
price of $1,080,934. The
aggregate sale price of all shares
of Beneficial Interest sold during
the Fiscal Year was $19,156,010.
<PAGE>
4. 1,996,154 shares of Beneficial
Interest were sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in
number were legally issued,
fully paid and non-assessable.
5. Since the aggregate sales
price of securities sold during
the Fiscal Year in reliance
upon registration pursuant to
Rule 24f-2 is less than the
aggregate redemption price
of securities redeemed during
the Fiscal Year, no filing fee
is required in connection with
the filing of this notice. The
calculation is as follows:
(i) Actual aggregate price for
the 1,996,154 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $19,156,010
reduced by
(ii) Aggregate redemption
price for the 2,095,857
shares of Beneficial
Interest redeemed during
the Fiscal Year.* $20,108,680
equal amount on which filing
fee is based $ -0-
XI. Merrill Lynch Maryland
Municipal Bond Fund
1. No shares of Beneficial
Interest of the Fund which
had been registered under
the Securities Act of 1933
(the "Securities Act") other
than pursuant to Rule 24f-2
remained unsold at the
beginning of the Fiscal Year.
2. No shares of Beneficial
Interest were registered
under the Securities Act
during the Fiscal Year
other than pursuant to
Rule 24f-2.
____________
*Of this amount 505,645 Class
A shares were redeemed at
an aggregate price of
$4,848,236, 1,559,047
Class B shares were redeemed
at an aggregate price of
$14,954,039, 22,907 Class
C shares were redeemed at
an aggregate price of
$227,063 and 8,258 Class D
shares were redeemed at an
aggregate price of $79,342.
The aggregate price of all
shares of Beneficial Interest
redeemed during the Fiscal
Year was $20,108,680.
<PAGE>
3. 1,057,802 shares of Beneficial
Interest were sold during the
Fiscal Year.*
4. 1,057,802 shares of Beneficial
Interest were sold during the
fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in
number were legally issued,
fully paid and non-assessable.
5. In accordance with Paragraph
(c) of Rule 24f-2, the fee of
$1,632.80 has been wired.
Such fee (which relates to the
1,057,802 shares referred to in
Paragraph (4) is based upon
the actual aggregate sale price
for which such securities were
sold during the Fiscal Year,
reduced by the actual aggregate
repurchase price of shares of
Beneficial Interest redeemed or
repurchased during the Fiscal
Year. The Trust did not apply
the redemption or repurchase
price of any shares of
Beneficial Interest redeemed or
repurchased during the Fiscal
Year pursuant to Rule 24e-2(a)
in filings made pursuant to rule
24(e)(1) of the Investment
Company Act of 1940. The
calculation of the amount on
which the filing fee is based is
as follows:
(i) Actual aggregate price for
the 1,057,802 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $9,501,974
_______________
*Of this amount 42,092 Class
A shares were sold at an
aggregate price of $380,032,
835,712 Class B shares were
sold at an aggregate price
of $7,482,027, 123,204
Class C shares were sold
at an aggregate price of
$1,119,811 and 56,794
Class D shares were sold
at an aggregate price of
$520,104. The aggregate
price of all shares of
Beneficial Interest sold
during the Fiscal Year was
$9,501,974.
<PAGE>
reduced by
(ii) Aggregate redemption
price for the 536,627
shares of Beneficial
Interest redeemed
during the Fiscal Year.* $4,766,854
equal amount on which
filing fee is based $4,735,120
XII. Merrill Lynch Colorado
Municipal Bond Fund
1. No shares of Beneficial
Interest of the Fund which
had been registered under
the Securities Act of 1933
(the "Securities Act") other
than pursuant to Rule
24f-2 remained unsold at
the beginning of the Fiscal
Year.
2. No shares of Beneficial
Interest were registered
under the Securities Act
during the Fiscal Year
other than pursuant to
Rule 24f-2.
3. 1,614,207 shares of Beneficial
Interest were sold during the
Fiscal Year.**
4. 1,614,207 shares of Beneficial
Interest were sold during the
fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in number
were legally issued, fully paid
and non-assessable.
____________
*Of this amount 72,388 Class A
shares were redeemed at an
aggregate price of $638,705,
449,753 Class B shares were
redeemed at an aggregate price
of $3,996,258, 13,606 Class C
shares were redeemed at an
aggregate price of $123,782
and 880 Class D shares were
redeemed at an aggregate price
of $8,109. The aggregate price
of all shares of Beneficial
Interest redeemed during the
Fiscal Year was $4,766,854.
**Of this amount 845,320 Class
A shares were sold at an
aggregate price of $7,354,748,
590,823 Class B shares were
sold at an aggregate price of
$5,418,198, 17,718 Class C
shares were sold at an aggregate
price of $165,714 and 160,346
Class D shares were sold at an
aggregate price of $1,425,820.
The aggregate price of all
shares of Beneficial Interest sold
during the Fiscal Year was
$14,364,480.
5. In accordance with Paragraph
(c) of Rule 24f-2, the fee of
$811.53 has been wired. Such
fee (which relates to the
1,614,207 shares referred to in
Paragraph (4) is based upon the
actual aggregate sale price for
which such securities were sold
during the Fiscal Year, reduced
by the actual aggregate
repurchase price of shares of
Beneficial Interest redeemed or
repurchased during the Fiscal
Year. The Trust did not apply
the redemption or repurchase
price of any shares of Beneficial
Interest redeemed or
repurchased during the Fiscal
Year pursuant to Rule 24e-2(a)
in filings made pursuant to rule
24(e)(1) of the Investment
Company Act of 1940. The
calculation of the amount on
which the filing fee is based
is as follows:
(i) Actual aggregate price for
the 1,614,207 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $14,364,480
reduced by
(ii) Aggregate redemption
price for the 1,336,994
shares of Beneficial
Interest redeemed
during the Fiscal Year.* $12,011,049
equal amount on which
filing fee is based $2,353,431
XIII Merrill Lynch New Mexico
Municipal Bond Fund
1. No shares of Beneficial
Interest of the Fund which
had been registered under
the Securities Act of 1933
(the "Securities Act") other
than pursuant to Rule 24f-2
remained unsold at the
beginning of the Fiscal
Year.
2. No shares of Beneficial
Interest were registered
under the Securities Act
during the Fiscal Year
other than pursuant to
Rule 24f-2.
____________
*Of this amount 958,997 Class
A shares were redeemed at
an aggregate price of
$8,589,491, 349,817 Class B
shares were redeemed at an
aggregate price of
$3,164,237, 581 Class C
shares were redeemed at an
aggregate price of $5,534 and
27,599 Class D shares were
redeemed at an aggregate price
of $251,787. The aggregate
price of all shares of Beneficial
Interest redeemed during the
Fiscal Year was $12,011,049.
<PAGE>
3. 827,785 shares of Beneficial
Interest were sold during the
Fiscal Year.*
4. 827,785 shares of Beneficial
Interest were sold during the
fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in
number were legally issued,
fully paid and non-assessable.
5. In accordance with Paragraph
(c) of Rule 24f-2, the fee of
$1,559.41 has been wired.
Such fee (which relates to the
827,785 shares referred to in
Paragraph (4) is based upon
the actual aggregate sale
price for which such securities
were sold during the Fiscal
Year, reduced by the actual
aggregate repurchase price of
shares of Beneficial Interest
redeemed or repurchased
during the Fiscal Year. The
Trust did not apply the
redemption or repurchase
price of any shares of
Beneficial Interest redeemed
or repurchased during the
Fiscal Year pursuant to Rule
24e-2(a) in filings made
pursuant to rule 24(e)(1) of
the Investment Company Act
of 1940. The calculation of the
amount on which the filing fee
is based is as follows:
(i) Actual aggregate price for
the 827,785 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $8,372,708
______________
*Of this amount 149,880 Class A
shares were sold at an
aggregate price of $1,533,462,
486,365 Class B shares were sold
at an aggregate price of
$4,913,636, 16,143 Class C
shares were sold at an aggregate
price of $165,258 and 175,397
Class D shares were sold at an
aggregate price of $1,760,352.
The aggregate price of all shares
of Beneficial Interest sold during
the Fiscal Year was $8,372,708.
<PAGE>
reduced by
(ii) Aggregate redemption
price for the 384,385
shares of Beneficial
Interest redeemed
during the Fiscal Year.* $3,850,426
equal amount on which
filing fee is based $4,522,282
XIV.Merrill Lynch Connecticut
Municipal Bond Fund
1. No shares of Beneficial
Interest of the Fund which
had been registered under
the Securities Act of 1933
(the "Securities Act") other
than pursuant to Rule 24f-2
remained unsold at the
beginning of the Fiscal
Year.
2. No shares of Beneficial
Interest were registered under
the Securities Act during the
Fiscal Year other than
pursuant to Rule 24f-2.
3. 2,154,429 shares of Beneficial
Interest were sold during the
Fiscal Year.**
4. 2,154,429 shares of Beneficial
Interest were sold during the
fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in number
were legally issued, fully paid
and non-assessable.
_______________
*Of this amount 204,850 Class A
shares were redeemed at an
aggregate price of $2,052,561,
153,689 Class B shares were
redeemed at an aggregate price
of $1,543,514, 375 Class C
shares were redeemed at an
aggregate price of $3,827 and
25,471 Class D shares were
redeemed at an aggregate price
of $250,524. The aggregate
price of all shares of Beneficial
Interest redeemed during the
Fiscal Year was $3,850,426.
**Of this amount 209,452 Class
A shares were sold at an
aggregate price of $2,108,638,
1,748,461 Class B shares were
sold at an aggregate price of
$17,443,829, 86,725 Class C
shares were sold at an aggregate
price of $857,547 and 109,791
Class D shares were sold at an
aggregate price of $1,081,573.
The aggregate sale price of all
shares of Beneficial Interest sold
during the Fiscal Year was
$21,491,587.
<PAGE>
5. In accordance with Paragraph
(c) of Rule 24f-2, the fee of
$5,158.42 has been wired.
Such fee (which relates to the
2,154,429 shares referred to
in Paragraph (4) is based
upon the actual aggregate sale
price for which such securities
were sold during the Fiscal Year,
reduced by the actual aggregate
repurchase price of shares of
Beneficial Interest redeemed or
repurchased during the Fiscal
Year. The Trust did not apply
the redemption or repurchase
price of any shares of Beneficial
Interest redeemed or
repurchased during the Fiscal
Year pursuant to Rule 24e-2(a)
in filings made pursuant to rule
24(e)(1) of the Investment
Company Act of 1940. The
calculation of the amount on
which the filing fee is based
is as follows:
(i) Actual aggregate price for
the 2,154,429 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $21,491,587
reduced by
(ii) Aggregate redemption
price for the 657,065
shares of Beneficial
Interest redeemed
during the Fiscal Year.* $ 6,532,177
equal amount on which
filing fee is based $14,959,410
XV. Merrill Lynch Oregon
Municipal Bond Fund
1. No shares of Beneficial
Interest of the Fund which
had been registered under
the Securities Act of 1933
(the "Securities Act") other
than pursuant to Rule 24f-2
remained unsold at the
beginning of the Fiscal
Year.
2. No shares of Beneficial
Interest were registered
under the Securities Act
during the Fiscal Year
other than pursuant to Rule
24f-2.
_______________
*Of this amount 101,176 Class
A shares were redeemed at
an aggregate price of
$1,024,995, 541,908 Class B
shares were redeemed at an
aggregate price of $5,365,859,
7,537 Class C shares were
redeemed at an aggregate price
of $76,804 and 6,444 Class D
shares were redeemed at an
aggregate price of $64,519. The
aggregate price of all shares of
Beneficial Interest redeemed
during the Fiscal Year was
$6,532,177.
<PAGE>
3. 763,737 shares of Beneficial
Interest were sold during the
Fiscal Year.*
4. 763,737 shares of Beneficial
Interest were sold during the
fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in number
were legally issued, fully paid
and non-assessable.
5. Since the aggregate sales price
of securities sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2 is less than the aggregate
redemption price of securities
redeemed during the Fiscal
Year, no filing fee is required
in connection with the filing of
this notice. The calculation is
as follows:
(i) Actual aggregate price for
the 763,737 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $7,001,810
reduced by
(ii) Aggregate redemption price
for the 1,003,355 shares of
Beneficial Interest redeemed
during the Fiscal Year.** $9,030,763
equal amount on which filing
fee is based $ -0-
____________
*Of this amount 65,606 Class A
shares were sold at an aggregate
price of $597,957, 579,985 Class
B shares were sold at an
aggregate price of $5,316,243,
94,204 Class C shares were sold
at an aggregate price of $863,629
and 23,942 Class D shares were
sold at an aggregate price of
$223,981. The aggregate sale
price of all shares of Beneficial
Interest sold during the Fiscal
Year was $7,001,810.
**Of this amount 336,462 Class
A shares were redeemed at an
aggregate price of $2,993,389,
658,507 Class B shares were
redeemed at an aggregate price
of $5,958,286, 4,347 Class C
shares were redeemed at an
aggregate price of $41,198 and
4,039 Class D shares were
redeemed at an aggregate price
of $37,890. The aggregate price
of all shares of Beneficial Interest
redeemed during the Fiscal Year
was $9,030,763.
<PAGE>
XVI. Merrill Lynch Arkansas
Municipal Bond Fund
1. No shares of Beneficial
Interest of the Fund which
had been registered under
the Securities Act of 1933
(the "Securities Act") other
than pursuant to Rule 24f-2
remained unsold at the
beginning of the Fiscal
Year.
2. No shares of Beneficial
Interest were registered
under the Securities Act
during the Fiscal Year
other than pursuant to
Rule 24f-2.
3. 1,220,455 shares of Beneficial
Interest were sold during the
Fiscal Year.*
4. 1,220,455 shares of Beneficial
Interest were sold during the
Fiscal Year in reliance upon
registration pursuant to Rule
24f-2. Transmitted with this
Notice is an opinion of Brown
& Wood, counsel for the Trust,
indicating that the securities
the registration of which this
Notice makes definite in
number were legally issued,
fully paid and non-assessable.
5. In accordance with Paragraph
(c) of Rule 24f-2, the fee of
$3,870.91 has been wired.
Such fee (which relates to the
1,220,455 shares referred to
in Paragraph (4) is based
upon the actual aggregate
sale price for which such
securities were sold during the
Fiscal Year, reduced by the
actual aggregate repurchase
price of shares of Beneficial
Interest redeemed or
repurchased during the Fiscal
Year. The calculation of the
amount on which the filing fee
is based is as follows:
(i) Actual aggregate price for
the 1,220,455 shares of
Beneficial Interest sold
during the Fiscal Year in
reliance upon registration
pursuant to Rule 24f-2. $12,254,552
____________
*Of this amount 236,456 class A
shares were sold at an
aggregate price of $2,374,451,
855,458 Class B shares were
sold at an aggregate price of
$8,567,269, 54,363 Class C
shares were sold at an aggregate
price of $556,059 and 74,178
Class D shares were sold at an
aggregate price of $756,773.
The aggregate sale price of all
shares of Beneficial Interest
sold during the Fiscal Year
was $12,254,552.
<PAGE>
reduced by
(ii) Aggregate redemption
price for the 103,797
shares of Beneficial
Interest redeemed
during the Fiscal Year.* $1,028,909
equal amount on which
filing fee is based $11,225,643
Please direct any questions relating
to this filing to Jerry Weiss at
Merrill Lynch Asset Management,
P.O. Box 9011, Princeton, N.J.
08543-9011 or to Laurin Blumenthal
Kleiman at Brown & Wood, One
World Trade Center, New York,
New York 10048, (212) 839-5525.
Very truly yours,
Merrill Lynch Multi-State
Municipal Series Trust
By /s/ Jerry Weiss
- - - - - - - - - - -
Jerry Weiss
Secretary
______________
*Of this amount 24,000 Class A shares were
redeemed at an aggregate sale price of $237,008,
74,047 Class B shares were redeemed at an
aggregate price of $736,801, 853 Class C shares
were redeemed at an aggregate price of $8,722 and
4,897 Class D shares were redeemed at an aggregate
price of $46,378. The aggregate price of all
shares of Beneficial Interest redeemed during the
Fiscal Year was $1,028,909.
BROWN & WOOD
One World Trade Center
New York, N.Y. 10048-0557
Telephone: 212-839-5300
Facsimile 212-839-5599
September 21, 1995
Merrill Lynch Multi-State Municipal
Series Trust
P.O. Box 9011
Princeton, New Jersey 08543-9011
Dear Sir or Madam:
This opinion is furnished in
connection with the notice (the
"Notice") to be filed by Merrill Lynch
Multi-State Municipal Series Trust,
a Massachusetts business trust
(the "Trust"), with the Securities and
Exchange Commission pursuant to
Rule 24f-2 under the Investment
Company Act of 1940, as amended.
The Notice is being filed to make
definite the registration under the
Securities Act of 1933, as amended,
of 29,187,814 shares of beneficial
interest, par value $0.10 per share,
of the Trust (the "Shares") which
were sold during the Trust's fiscal
year ended July 31, 1995. The
Shares consist of 2,457,354 shares of
beneficial interest of Merrill Lynch
Pennsylvania Municipal Bond Fund
(the "Pennsylvania Fund"); 3,062,217
shares of beneficial interest of Merrill
Lynch New Jersey Municipal Bond
Fund (the "New Jersey Fund");
6,966,967 shares of beneficial interest
of Merrill Lynch Florida Municipal
<PAGE>
Bond Fund (the "Florida Fund");
520,241 shares of beneficial interest
of Merrill Lynch Minnesota Municipal
Bond Fund (the "Minnesota Fund");
1,221,308 shares of beneficial
interest of Merrill Lynch Massachusetts
Municipal Bond Fund (the
"Massachusetts Fund"); 1,094,302
shares of beneficial interest of Merrill
Lynch Texas Municipal Bond Fund
(the "Texas Fund"); 1,744,717 shares
of beneficial interest of Merrill Lynch
Ohio Municipal Bond Fund (the "Ohio
Fund"); 1,303,433 shares of
beneficial interest of the Merrill Lynch
Arizona Municipal Bond Fund (the
"Arizona Fund"); 1,182,706 shares
of beneficial interest of the Merrill
Lynch North Carolina Municipal Bond
Fund (the "North Carolina Fund");
1,996,154 shares of beneficial
interest of the Merrill Lynch Michigan
Municipal Bond Fund (the "Michigan
Fund"); 763,737 shares of beneficial
interest of the Merrill Lynch Oregon
Municipal Bond Fund (the "Oregon
Fund"); 2,154,429 shares of
beneficial interest of the Merrill Lynch
Connecticut Municipal Bond Fund
(the "Connecticut Fund"); 1,057,802
shares of beneficial interest of the
Merrill Lynch Maryland Municipal
Bond Fund (the "Maryland Fund");
827,785 shares of beneficial
interest of the Merrill Lynch New
Mexico Municipal Bond Fund (the
"New Mexico Fund"); 1,614,207
shares of beneficial interest of the
Merrill Lynch Colorado Municipal
Bond Fund (the "Colorado Fund");
and 1,220,455 shares of beneficial
interest of the Merrill Lynch
Arkansas Municipal Bond Fund
(the "Arkansas Fund"). The
Pennsylvania, New Jersey, Florida,
Minnesota, Massachusetts, Texas,
Ohio, Arizona, North Carolina,
<PAGE>
Michigan, Oregon, Connecticut,
Maryland, New Mexico, Colorado
and Arkansas Funds comprise 16
of the 17 series of the Trust
currently offering their shares to
the public.
As counsel for the Trust, we are
familiar with the proceedings taken
by it in connection with the
authorization, issuance and sale of
the Shares. In addition, we have
examined and are familiar with the
Declaration of Trust of the Trust,
the By-Laws of the Trust and such
other documents as we have
deemed relevant to the matters
referred to in this opinion.
Based upon the foregoing, we
are of the opinion that the Shares
were legally issued, fully paid and
non-assessable.
In rendering this opinion, we
have relied as to matters of
Massachusetts law upon an
opinion of Bingham, Dana & Gould,
dated September 20, 1995,
rendered to the Trust.
We hereby consent to the filing
of this opinion with the Securities
and Exchange Commission as an
attachment to the Notice.
Very truly yours,
