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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 15, 1998
GOVERNMENT TRUST M-1
(Exact name of registrant as specified in its charter or
other governing instrument)
State or other jurisdiction of incorporation:
New York
Commission File Number:
33-31279
IRS Employer Identification No.:
13-6938177
c/o Chase Manhattan Bank
Corporate Trustee Administration Department
450 West 33rd Street
New York, New York 10001
Registrant's telephone number, including area code : (212) 946-8608
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Item 1. Changes in Control of Registrant.
Not Applicable.
Item 2. Acquisition or Disposition of Assets.
None.
Item 3. Bankruptcy or Receivership.
None.
Item 4. Changes in Registrant's Certifying Accountant.
No Change
Item 5. Other Events.
Semiannual Report to Holders pursuant to the Trust's Declaration of Trust
dated as of October 15, 1989. (Attached as Exhibit A) .
No other reportable events.
Item 6. Resignations of Registrant's Directors.
Not Applicable.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
Not Applicable.
Exhibits
Semiannual Report to Holders attached hereto as Exhibit A .
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Government Trust M-1
Date : June 2, 1998
By:_________ Dennis Kildea______
Assistant Vice President
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Exhibit A
CHASE MANHATTAN BANK
(formerly CHEMICAL BANK)
450 West 33rd Street
New York, New York 10001
Trustee's Semiannual Report
To the Holders of:
Government Trust M-1 Zero Coupon Certificates
(Moroccan FMS Refinancing)
and
Defense Security Assistance Agency
The Pentagon
Washington, DC 20301-2800
Attention of the Comptroller, DSAA
i. On May 15, 1998, the aggregate amount distributed to the Holders was
$2,489,000.00. The portions thereof allocable to the principal and interest
payments on the Related Note(s) was $ 2,240,000.00 and to payments from
the Securities Trust was $249,000.00.
ii.The aggregate Initial Amount of the Certificates issued by such Trust and
remaining outstanding after such distribution is $ 6,909,000.00.
iii. The unpaid principal amount of the Related Note(s) following such
distribution is $6,351,327.75.
iv. The sum of the amount referred to in (i) above, plus the amount paid
to the Trustee in respect of the Trustee's fees and expenses was not less
than the sum of 90% of the amount required to have been paid by the Borrower
on the Related Note(s) on the immediately preceding Note Payment Date plus
the payment received from the Securities Trust on the Certificate Payment
Date.
No Payment Default has occurred and is continuing since our previous report.
To the best of my knowledge and belief this Semiannual Report is complete
and accurate.
By: ____Dennis Kildea__
Assistant Vice President
Dated as of May 15, 1998
(Tax ID No. 13-6938177)
