<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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015 C010407 NEW YORK
015 C020407 NY
015 C030407 10015
015 E010407 X
028 A010400 2104
028 A020400 0
028 A030400 0
028 A040400 2012
028 B010400 4841
028 B020400 82
028 B030400 0
028 B040400 464
028 C010400 3134
028 C020400 88
028 C030400 0
028 C040400 417
028 D010400 3532
028 D020400 94
028 D030400 0
<PAGE> PAGE 21
028 D040400 704
028 E010400 5339
028 E020400 102
028 E030400 0
028 E040400 642
028 F010400 3915
028 F020400 104
028 F030400 0
028 F040400 2908
028 G010400 22865
028 G020400 470
028 G030400 0
028 G040400 7147
028 H000400 21286
029 000400 Y
030 A000400 1000
030 B000400 4.50
030 C000400 0.00
031 A000400 14
031 B000400 0
032 000400 986
033 000400 0
034 000400 Y
035 000400 15
036 A000400 Y
036 B000400 0
037 000400 N
038 000400 0
039 000400 N
040 000400 Y
041 000400 Y
042 A000400 0
042 B000400 0
042 C000400 100
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 102
044 000400 0
055 A000400 N
055 B000400 N
056 000400 N
057 000400 N
058 A000400 N
059 000400 Y
060 A000400 N
060 B000400 N
061 000400 1500
062 A000400 Y
<PAGE> PAGE 22
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.7
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 99.6
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
063 A000400 0
063 B000400 13.9
064 A000400 Y
064 B000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 Y
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 N
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 N
070 N020400 N
070 O010400 Y
070 O020400 N
<PAGE> PAGE 23
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 20028
071 B000400 1637
071 C000400 43985
071 D000400 4
072 A000400 6
072 B000400 1202
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 92
072 G000400 77
072 H000400 0
072 I000400 20
072 J000400 1
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072 L000400 6
072 M000400 2
072 N000400 12
072 O000400 0
072 P000400 0
072 Q000400 32
072 R000400 7
072 S000400 1
072 T000400 159
072 U000400 0
072 V000400 0
072 W000400 2
072 X000400 411
072 Y000400 229
072 Z000400 1020
072AA000400 0
072BB000400 8
072CC010400 0
072CC020400 166
072DD010400 663
072DD020400 357
072EE000400 0
073 A010400 0.2700
073 A020400 0.2300
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 400
074 D000400 54584
<PAGE> PAGE 24
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 1011
074 M000400 22
074 N000400 56017
074 O000400 997
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 195
074 S000400 0
074 T000400 54825
074 U010400 2525
074 U020400 2413
074 V010400 11.10
074 V020400 11.10
074 W000400 0.0000
074 X000400 698
074 Y000400 0
075 A000400 0
075 B000400 46129
076 000400 0.00
015 A000501 STATE STREET BANK AND TRUST COMPANY
015 B000501 C
015 C010501 BOSTON
015 C020501 MA
015 C030501 02266
015 C040501 8600
015 E010501 X
015 A000502 PNC BANK, NA
015 B000502 S
015 C010502 PITTSBURGH
015 C020502 PA
015 C030502 15265
015 E010502 X
015 A000503 NATIONSBANK OF NORTH CAROLINA
015 B000503 S
015 C010503 CHARLOTTE
015 C020503 NC
015 C030503 28255
015 E010503 X
015 A000504 MORGAN GUARANTY BANK & TRUST CO.
015 B000504 S
015 C010504 NEW YORK
<PAGE> PAGE 25
015 C020504 NY
015 C030504 10015
015 E010504 X
015 A000505 THE CHASE MANHATTAN CORPORATION
015 B000505 S
015 C010505 NEW YORK
015 C020505 NY
015 C030505 10006
015 E010505 X
015 A000506 BANK OF NEW YORK
015 B000506 S
015 C010506 NEW YORK
015 C020506 NY
015 C030506 10006
015 E010506 X
015 A000507 BANKERS TRUST CO.
015 B000507 S
015 C010507 NEW YORK
015 C020507 NY
015 C030507 10015
015 E010507 X
028 A010500 504
028 A020500 43
028 A030500 0
028 A040500 517
028 B010500 332
028 B020500 43
028 B030500 0
028 B040500 212
028 C010500 790
028 C020500 43
028 C030500 0
028 C040500 194
028 D010500 1039
028 D020500 45
028 D030500 0
028 D040500 366
028 E010500 216
028 E020500 46
028 E030500 0
028 E040500 648
028 F010500 534
028 F020500 4
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028 F040500 281
028 G010500 3415
028 G020500 224
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028 G040500 2218
028 H000500 3328
029 000500 Y
<PAGE> PAGE 26
030 A000500 53
030 B000500 1.00
030 C000500 0.00
031 A000500 7
031 B000500 0
032 000500 46
033 000500 0
034 000500 Y
035 000500 1
036 A000500 N
036 B000500 0
037 000500 N
038 000500 0
039 000500 N
040 000500 Y
041 000500 Y
042 A000500 0
042 B000500 0
042 C000500 100
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 62
044 000500 0
055 A000500 Y
055 B000500 N
056 000500 N
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 N
060 B000500 N
061 000500 1500
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.4
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 97.7
062 P000500 0.0
<PAGE> PAGE 27
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 10.1
064 A000500 Y
064 B000500 N
070 A010500 N
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 4682
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071 C000500 24594
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<PAGE> PAGE 28
072 F000500 50
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<PAGE> PAGE 29
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SIGNATURE STEVE KEANE
TITLE GENERAL COUNSEL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000866700
<NAME> Municipal Securities Income Trust
<SERIES>
<NUMBER> 041
<NAME> Federated California Municipal Income Fund -A Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "53,047,965"
<INVESTMENTS-AT-VALUE> "54,984,297"
<RECEIVABLES> "1,010,731"
<ASSETS-OTHER> "22,253"
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "56,017,281"
<PAYABLE-FOR-SECURITIES> "997,198"
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "195,002"
<TOTAL-LIABILITIES> "1,192,200"
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "53,633,379"
<SHARES-COMMON-STOCK> "2,524,652"
<SHARES-COMMON-PRIOR> "2,586,583"
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> "(744,630)"
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "1,936,332"
<NET-ASSETS> "28,033,920"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "1,202,011"
<OTHER-INCOME> 0
<EXPENSES-NET> "(181,887)"
<NET-INVESTMENT-INCOME> "1,020,124"
<REALIZED-GAINS-CURRENT> "(7,667)"
<APPREC-INCREASE-CURRENT> "(166,413)"
<NET-CHANGE-FROM-OPS> "846,044"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(662,792)"
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "447,895"
<NUMBER-OF-SHARES-REDEEMED> "(537,225)"
<SHARES-REINVESTED> "27,399"
<NET-CHANGE-IN-ASSETS> "16,013,436"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> "(736,963)"
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "91,500"
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<GROSS-EXPENSE> "411,031"
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<PER-SHARE-NAV-BEGIN> 11.130
<PER-SHARE-NII> 0.270
<PER-SHARE-GAIN-APPREC> (0.030)
<PER-SHARE-DIVIDEND> (0.270)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.100
<EXPENSE-RATIO> 0.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000866700
<NAME> Municipal Securities Income Trust
<SERIES>
<NUMBER> 042
<NAME> Federated California Municipal Income Fund -B Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "53,047,965"
<INVESTMENTS-AT-VALUE> "54,984,297"
<RECEIVABLES> "1,010,731"
<ASSETS-OTHER> "22,253"
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "56,017,281"
<PAYABLE-FOR-SECURITIES> "997,198"
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "195,002"
<TOTAL-LIABILITIES> "1,192,200"
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "53,633,379"
<SHARES-COMMON-STOCK> "2,412,784"
<SHARES-COMMON-PRIOR> "900,146"
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> "(744,630)"
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "1,936,332"
<NET-ASSETS> "26,791,161"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "1,202,011"
<OTHER-INCOME> 0
<EXPENSES-NET> "(181,887)"
<NET-INVESTMENT-INCOME> "1,020,124"
<REALIZED-GAINS-CURRENT> "(7,667)"
<APPREC-INCREASE-CURRENT> "(166,413)"
<NET-CHANGE-FROM-OPS> "846,044"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(357,332)"
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "1,601,535"
<NUMBER-OF-SHARES-REDEEMED> "(103,457)"
<SHARES-REINVESTED> "14,560"
<NET-CHANGE-IN-ASSETS> "16,013,436"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> "(736,963)"
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "91,500"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "411,031"
<AVERAGE-NET-ASSETS> "17,882,053"
<PER-SHARE-NAV-BEGIN> 11.130
<PER-SHARE-NII> 0.230
<PER-SHARE-GAIN-APPREC> (0.040)
<PER-SHARE-DIVIDEND> (0.220)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.100
<EXPENSE-RATIO> 1.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000866700
<NAME> Municipal Securities Income Trust
<SERIES>
<NUMBER> 03
<NAME> Federated Michigan Intermediate Municipal Trust
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "78,890,892"
<INVESTMENTS-AT-VALUE> "83,060,940"
<RECEIVABLES> "1,270,318"
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "84,331,258"
<PAYABLE-FOR-SECURITIES> "2,444,326"
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "343,221"
<TOTAL-LIABILITIES> "2,787,547"
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "78,061,786"
<SHARES-COMMON-STOCK> "7,365,294"
<SHARES-COMMON-PRIOR> "7,007,520"
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> "(688,123)"
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "4,170,048"
<NET-ASSETS> "81,543,711"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "2,097,083"
<OTHER-INCOME> 0
<EXPENSES-NET> "(199,638)"
<NET-INVESTMENT-INCOME> "1,897,445"
<REALIZED-GAINS-CURRENT> "78,533"
<APPREC-INCREASE-CURRENT> "(238,806)"
<NET-CHANGE-FROM-OPS> "1,737,172"
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<DISTRIBUTIONS-OF-INCOME> "(1,897,445)"
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "953,814"
<NUMBER-OF-SHARES-REDEEMED> "(628,019)"
<SHARES-REINVESTED> "31,979"
<NET-CHANGE-IN-ASSETS> "3,812,594"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> "(766,656)"
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "158,307"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "392,465"
<AVERAGE-NET-ASSETS> "79,809,675"
<PER-SHARE-NAV-BEGIN> 11.090
<PER-SHARE-NII> 0.260
<PER-SHARE-GAIN-APPREC> (0.020)
<PER-SHARE-DIVIDEND> (0.260)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.070
<EXPENSE-RATIO> 0.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000866700
<NAME> Municipal Securities Income Trust
<SERIES>
<NUMBER> 05
<NAME> Federated New York Municipal Income Fund
<S> <C>
<PERIOD-TYPE> 6-month
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "23,563,755"
<INVESTMENTS-AT-VALUE> "25,204,685"
<RECEIVABLES> "460,457"
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> "120,233"
<TOTAL-ASSETS> "25,785,375"
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "103,512"
<TOTAL-LIABILITIES> "103,512"
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "24,914,592"
<SHARES-COMMON-STOCK> "2,342,916"
<SHARES-COMMON-PRIOR> "2,213,722"
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> "(873,659)"
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "1,640,930"
<NET-ASSETS> "25,681,863"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "696,468"
<OTHER-INCOME> 0
<EXPENSES-NET> "(87,735)"
<NET-INVESTMENT-INCOME> "(608,733)"
<REALIZED-GAINS-CURRENT> "113,681"
<APPREC-INCREASE-CURRENT> "(203,467)"
<NET-CHANGE-FROM-OPS> "518,947"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(608,733)"
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "310,321"
<NUMBER-OF-SHARES-REDEEMED> "(201,432)"
<SHARES-REINVESTED> "20,305"
<NET-CHANGE-IN-ASSETS> "1,330,443"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> "(987,340)"
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "49,821"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "269,241"
<AVERAGE-NET-ASSETS> "25,117,125"
<PER-SHARE-NAV-BEGIN> 11.000
<PER-SHARE-NII> 0.270
<PER-SHARE-GAIN-APPREC> (0.040)
<PER-SHARE-DIVIDEND> (0.270)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.960
<EXPENSE-RATIO> 0.70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000866700
<NAME> Municipal Securities Income Trust
<SERIES>
<NUMBER> 02
<NAME> Federated Ohio Municipal Income Fund-F Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "75,442,468"
<INVESTMENTS-AT-VALUE> "80,826,261"
<RECEIVABLES> "1,862,458"
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "82,688,719"
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "458,983"
<TOTAL-LIABILITIES> "458,983"
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "76,935,168"
<SHARES-COMMON-STOCK> "7,011,679"
<SHARES-COMMON-PRIOR> "6,740,781"
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> "(24,468)"
<ACCUMULATED-NET-GAINS> "(64,757)"
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "5,383,793"
<NET-ASSETS> "82,229,736"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "2,300,404"
<OTHER-INCOME> 0
<EXPENSES-NET> "(369,815)"
<NET-INVESTMENT-INCOME> "1,930,589"
<REALIZED-GAINS-CURRENT> "299,756"
<APPREC-INCREASE-CURRENT> "(680,396)"
<NET-CHANGE-FROM-OPS> "1,549,949"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(1,960,367)"
<DISTRIBUTIONS-OF-GAINS> "(848,733)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "578,329"
<NUMBER-OF-SHARES-REDEEMED> "(452,547)"
<SHARES-REINVESTED> "145,116"
<NET-CHANGE-IN-ASSETS> "1,955,331"
<ACCUMULATED-NII-PRIOR> "5,310"
<ACCUMULATED-GAINS-PRIOR> "484,220"
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "163,563"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "572,428"
<AVERAGE-NET-ASSETS> "82,459,055"
<PER-SHARE-NAV-BEGIN> 11.910
<PER-SHARE-NII> 0.280
<PER-SHARE-GAIN-APPREC> (0.060)
<PER-SHARE-DIVIDEND> (0.280)
<PER-SHARE-DISTRIBUTIONS> (0.120)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.730
<EXPENSE-RATIO> 0.90
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000866700
<NAME> Municipal Securities Income Trust
<SERIES>
<NUMBER> 011
<NAME> Federated Pennsylvania Municipal Income Fund-A Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "262,467,456"
<INVESTMENTS-AT-VALUE> "276,250,984"
<RECEIVABLES> "4,808,058"
<ASSETS-OTHER> "8,828"
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "281,067,870"
<PAYABLE-FOR-SECURITIES> "2,920,856"
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "561,806"
<TOTAL-LIABILITIES> "3,482,662"
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "264,143,431"
<SHARES-COMMON-STOCK> "20,013,550"
<SHARES-COMMON-PRIOR> "19,681,350"
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> "(286,310)"
<ACCUMULATED-NET-GAINS> "(55,441)"
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "13,783,528"
<NET-ASSETS> "237,503,544"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "7,537,590"
<OTHER-INCOME> 0
<EXPENSES-NET> "(1,161,227)"
<NET-INVESTMENT-INCOME> "6,376,363"
<REALIZED-GAINS-CURRENT> "155,789"
<APPREC-INCREASE-CURRENT> "(2,871,021)"
<NET-CHANGE-FROM-OPS> "3,661,131"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(5,601,812)"
<DISTRIBUTIONS-OF-GAINS> "(1,929,442)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "1,302,843"
<NUMBER-OF-SHARES-REDEEMED> "(1,334,681)"
<SHARES-REINVESTED> "364,038"
<NET-CHANGE-IN-ASSETS> "9,251,188"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> "1,998,590"
<OVERDISTRIB-NII-PRIOR> "(358,125)"
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "544,158"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "1,281,722"
<AVERAGE-NET-ASSETS> "238,992,569"
<PER-SHARE-NAV-BEGIN> 12.080
<PER-SHARE-NII> 0.290
<PER-SHARE-GAIN-APPREC> (0.120)
<PER-SHARE-DIVIDEND> (0.280)
<PER-SHARE-DISTRIBUTIONS> (0.100)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.870
<EXPENSE-RATIO> 0.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000866700
<NAME> Municipal Securities Income Trust
<SERIES>
<NUMBER> 012
<NAME> Federated Pennsylvania Municipal Income Fund-B Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "262,467,456"
<INVESTMENTS-AT-VALUE> "276,250,984"
<RECEIVABLES> "4,808,058"
<ASSETS-OTHER> "8,828"
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "281,067,870"
<PAYABLE-FOR-SECURITIES> "2,920,856"
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "561,806"
<TOTAL-LIABILITIES> "3,482,662"
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "264,143,431"
<SHARES-COMMON-STOCK> "3,377,159"
<SHARES-COMMON-PRIOR> "2,535,845"
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> "(286,310)"
<ACCUMULATED-NET-GAINS> "(55,441)"
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "13,783,528"
<NET-ASSETS> "40,081,664"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "7,537,590"
<OTHER-INCOME> 0
<EXPENSES-NET> "(1,161,227)"
<NET-INVESTMENT-INCOME> "6,376,363"
<REALIZED-GAINS-CURRENT> "155,789"
<APPREC-INCREASE-CURRENT> "(2,871,021)"
<NET-CHANGE-FROM-OPS> "3,661,131"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(702,736)"
<DISTRIBUTIONS-OF-GAINS> "(280,378)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "938,534"
<NUMBER-OF-SHARES-REDEEMED> "(151,887)"
<SHARES-REINVESTED> "54,667"
<NET-CHANGE-IN-ASSETS> "9,251,188"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> "1,998,590"
<OVERDISTRIB-NII-PRIOR> "(358,125)"
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "544,158"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "1,281,722"
<AVERAGE-NET-ASSETS> "35,341,122"
<PER-SHARE-NAV-BEGIN> 12.080
<PER-SHARE-NII> 0.240
<PER-SHARE-GAIN-APPREC> (0.110)
<PER-SHARE-DIVIDEND> (0.240)
<PER-SHARE-DISTRIBUTIONS> (0.100)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.870
<EXPENSE-RATIO> 1.53
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
Item 77Q1: Exhibit
MUNICIPAL SECURITIES INCOME TRUST
Amendment No. 15
DECLARATION OF TRUST
As dated August 6, 1990
This Declaration of Trust is amended as follows:
Strike the first paragraph of Section 5 of Article III from the
Declaration of Trust and substitute in its place the following:
"Section 5. Establishment and Designation of Series or Class. Without
limiting the authority of the Trustees set forth in Article XII, Section
8, inter alia, to establish and designate any additional Series of Class
or to modify the rights and preferences of any existing Series or Class,
the Series and Classes of the Trust are established and designated as:
Federated California Municipal Income Fund
Class A Shares
Class B Shares
Federated Michigan Intermediate Municipal Trust
Federated New York Municipal Income Fund
Class A Shares
Federated Ohio Municipal Income Fund
Class F Shares
Federated Pennsylvania Municipal Income Fund
Class A Shares
Class B Shares"
The undersigned hereby certify that the above stated Amendment is a true
and correct Amendment to the Declaration of trust, as adopted by the Board of
Trustees on the 21st day of August, 1998.
WITNESS the due execution hereof this 21st day of August, 1998.
/s/ John F. Donahue /s/ Edward L. Flaherty
John F. Donahue Edward L. Flaherty, Jr.
/s/ Thomas G. Bigley /s/ Glen R. Johnson
Thomas G. Bigley Glen R. Johnson
/s/ Nicholas P. Constantakis /s/ Peter E. Madden
Nicholas P. Constantakis Peter E. Madden
/s/ John T. Conroy, Jr. /s/ John E. Murray, Jr.
John T. Conroy, Jr. John E. Murray, Jr.
/s/ William J. Copeland /s/ Wesley W. Posvar
William J. Copeland Wesley W. Posvar
/s/ James E. Dowd /s/ Marjorie P. Smuts
James E. Dowd Marjorie P. Smuts
