ANNUAL NOTICE OF SECURITIES SOLD PURSUANT TO RULE 24F-2
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 24 F-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:
First Pacific Mutual Fund, Inc.
2756 Woodlawn Dr. #6-201
Honolulu, HI 96822
2. Name of each series or class of funds for which this notice is filed:
First Hawaii Municipal Bond Fund
First Hawaii Intermediate Municipal Fund
First Idaho Tax-Free Fund
3. Investment Company Act File Number:
33-23452
Securities Act File Number:
4. Last day of fiscal year for which this notice is filed:
September 30, 1996
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
<PAGE>
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:
NONE
8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2:
NONE
9. Number and aggregate sale price of securities sold during the fiscal
year:
1,682,288 $14,340,089
10. Number and aggregate sale price of securities sold during the fiscal
year in reliance upon registration pursuant to rule 24f-2:
1,682,288 $14,340,089
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):
217,512 $ 2,117,013
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal year
in reliance on rule 24f-2 (from Item 10):
$14,340,089
(ii) Aggregate price of shares issued in connection with dividend
reinvestment plans (from item 11, if applicable):
$ 2,117,013
(iii) Aggregate price of shares redeemed or repurchased during the
fiscal year (if applicable):
$11,652,712
(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees pursuant to rule
24c-2 (if applicable):
0
<PAGE>
(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)]:
$4,804,390
(vi) Multiplier prescribed by Section 6(b) of the Securities Act of
1933 or other applicable law or regulation (see Instruction C,6):
1/3300
(vii) Fee Due [line (i) or line (v) multiplied by line (vi)]:
$ 1,455.87
Instructions: Issuers should complete lines (ii), (iii), (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:
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)*___\s\____Terrence K. H. Lee______________________
__________President_______________________________
Terrence K. H. Lee
STRADLEY, RONON, STEVENS & YOUNG, LLP
2600 ONE COMMERCE SQUARE
PHILADELPHIA, PENNSYLVANIA 19103-7098
(215) 564-8000
Direct Dial:
(215) 564-8101
November 26, 1996
First Pacific Mutual Fund, Inc.
2756 Woodlawn Drive
Suite 6-201
Honolulu, HA 96822-1856
Re: First Pacific Mutual Fund, Inc.
Gentlemen:
You have requested our opinion with respect to the shares of
common stock sold by First Pacific Mutual Fund, Inc. (the "Fund") during its
fiscal year ended September 30, 1996, in connection with the Notice being filed
by the Fund pursuant to Rule 24f-2 under the Investment Company Act of 1940. You
have represented that a total of 1,682,288 shares were sold by the Fund during
said fiscal year, all of which were sold in reliance upon Rule 24f-2.
Based upon our review of such records, documents, and
representations as we have deemed relevant, it is our opinion that the shares of
common stock of the Fund sold and issued by the Fund during its fiscal year
ended September 30, 1996, in reliance upon the registration under the Securities
Act of 1933 pursuant to Rule 24f-2 under the Investment Company Act of 1940, as
amended were legally issued, fully paid and non-assessable.
We hereby consent to the filing of this opinion as an exhibit
to the "Rule 24f-2 Notice" being filed by the Fund, covering the registration of
the said shares under the Securities Act and we further consent to reference in
the Prospectus of the Fund to the fact that this opinion concerning the legality
of the issue has been rendered by us.
Very truly yours,
STRADLEY, RONON, STEVENS & YOUNG, LLP
By: \s\ Audrey C. Talley
Audrey C. Talley
ACT/pj
