Richard D. Silberman
Lawyer
1061 Eastshore Blvd., #200
Berkeley, California 94710-1011
Telephone (510) 559-6820
Facsimile (510) 559-6822
February 4, 1999
Parnassus Income Trust
One Market - Steuart Tower
Suite 1600
San Francisco, California 94105
Gentlemen:
You have requested my opinion for use in conjunction with a Form 24f-2,
Annual Notice of Securities Sold Pursuant to Rule 24f-2, for the Parnassus
Income Trust (the "Trust") to be filed in respect of shares of the Trust (the
"Shares") sold for the fiscal year ended December 31, 1998 pursuant to the
Trust's registration statement filed with the Securities and Exchange Commission
(the "SEC") under the Securities Act of 1933, File No. 33-36065 (the
"Registration Statement").
In its Registration Statement, the Trust elected to register an indefinite
number of Shares pursuant to the provisions of SEC Rule 24f-2.
I have reviewed the amended Registration Statement of the Trust and such
other documents and records as I have deemed relevant to the expression of an
opinion. On the basis of the foregoing, it is my opinion that the Shares sold
for the fiscal year ended December 31, 1998, registration of which the Form
24f-2 makes definite in number, were legally issued, fully paid and
non-assessable.
I consent to your filing this opinion as an Exhibit to the Form 24f-2
referred to above, the Registration Statement of the Trust and to any
application or registration statement filed under the securities laws of any of
the States of the United States.
Sincerely,
Original signed by
Richard D. Silberman
RDS:mf
<PAGE>
Rule 24f-2 Notice
The Parnassus Income Trust
One Market
Steuart Tower - Suite #1600
San Francisco, CA 94105
1933 Act No. 33-36065
(1) Fiscal period for which notice is filed is year ending
December 31, 1998
(2) The amount of securities sold other than pursuant to
Rule 24f-2, but which remain unsold as of December 31,
1998 -0-
(3) The amount of securities registered during the fiscal
period of this notice other than pursuant to Rule 24f-2 -0-
(4) The amount of securities sold during the fiscal period
of this notice $17,009,210
(5) The amount of securities sold during the fiscal period
of this notice in reliance upon registration pursuant
to Rule 24f-2 (See attached computation of fee) $17,009,210
Witness the due execution hereof this 4th day of February 1999.
ORIGINAL SIGNED BY
----------------------------------
Richard D. Silberman, Secretary
<PAGE>
Rule 24f-2 Notice
The Parnassus Income Trust
One Market
Steuart Tower - Suite #1600
San Francisco, CA 94105
1933 Act No. 33-36065
Computation of Fee
(1) Actual aggregate sales price of Registrant's securities
sold pursuant to Rule 24f-2 during the fiscal period
for which the 24f-2 notice is filed $17,009,210
(2) Reduced by the difference between:
(a) Actual aggregate redemption prices of such
securities redeemed by the issuer during
the fiscal period for which the 24f-2 notice is
filed $11,191,360
(b) Actual aggregate redemption price of such redeemed
securities previously applied by the issuer
pursuant to Section 24e (2) (a) for the fiscal
period for which the 24f-2 notice is
filed $ -0- $0
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Total amount upon which the fee calculation specified in
Section 6(b) of the Securities Act of 1933 is based $5,817,850
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FEE SUBMITTED (1/36 of 1% of Total Amount [.000278]) $1,617.36
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