September 22, 1993
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, 33-64502
Dear Sirs:
In accordance with the provisions of Rule 24f-2
under the Investment Company Act of 1940,
Merrill Lynch Multi-State Municipal Series
Trust (the "Trust") hereby transmits its Rule
24f-2 Notice (the "Notice") on behalf of eleven
of its constituent portfolios: The Merrill Lynch
Pennsylvania, New Jersey, Florida, Minnesota,
Massachusetts, Texas, Ohio, Arizona, North
Carolina, Michigan and Oregon 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, 1993 (the "Fiscal Year").
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. 5,173,049 shares of Beneficial Interest were
sold during the Fiscal Year.*
4. 5,173,049 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 $14,840.23 has been wired. Such fee
(which relates to the 5,173,049 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 as follows:
(i) Actual aggregate price for the
5,173,049 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$57,394,428
reduced by
(ii) Aggregate redemption price for
the 893,923 shares of Beneficial
Interest redeemed during the
Fiscal Year.** $9,905,692
equal amount on which filing fee
is based $47,488,736
____________
*Of this amount 979,613 Class A shares were sold
at an aggregate price of $11,039,286 and 4,193,436
Class B shares were sold at an aggregate price of
$46,355,142. The aggregate price of all shares of
Beneficial Interest sold during the Fiscal Year
was $57,394,428. All of such amount was sold in
reliance upon registration pursuant to Rule 24f-2.
**Of this amount 161,016 were Class A shares which
were redeemed at an aggregate price of $1,774,961
and 732,907 Class B shares which were redeemed at
an aggregate price of $8,130,731. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was 9,905,692.
<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. 6,933,550 shares of Beneficial Interest were
sold during the Fiscal Year.*
4. 6,933,550 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 $13,689.10 has been wired. Such fee
(which relates to the 6,933,550 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 as follows:
(i) Actual aggregate price for the
6,933,550 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$76,368,383
reduced by
(ii) Aggregate redemption price for
the 2,971,069 shares of Beneficial
Interest redeemed during the
Fiscal Year.** $32,563,270
equal amount on which filing fee
is based
$43,805,113
____________
*Of this amount 1,665,944 Class A shares were sold
at an aggregate price of $18,449,237 and 5,267,606
Class B shares were sold at an aggregate sale
price of $57,919,146. The aggregate sale price of
all shares of Beneficial Interest sold during the
Fiscal Year was $76,368,383.
**Of this amount 760,681 were Class A shares which
were redeemed at an aggregate sale price of
$8,310,908 and 2,210,388 Class B shares which were
redeemed at an aggregate price of $24,252,362.
The aggregate price of all shares of Beneficial
Interest redeemed during the Fiscal Year was
$32,563,270.
<PAGE>
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. 10,738,916 shares of Beneficial Interest
were sold during the Fiscal Year.*
4. 10,738,916 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 $24,207.44 has been wired. Such
fee (which relates to the 10,738,916 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 as follows:
(i) Actual aggregate price for the
10,738,916 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$113,707,666
____________
*Of this amount 2,894,021 Class A shares were sold
at an aggregate price of $30,814,746 and 7,844,895
Class B shares were sold at an aggregate price of
$82,892,920. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $113,707,666.
<PAGE>
reduced by
(ii) Aggregate redemption price for
the 3,418,530 shares of Beneficial
Interest redeemed during the
Fiscal Year.* $36,243,868
equal amount on which filing fee
is based $ 77,463,798
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. No shares of Beneficial Interest were
registered under the Securities Act
during the Fiscal Year other than
pursuant to Rule 24f-2.
3. 2,569,346 shares of Beneficial Interest were
sold during the Fiscal Year.**
4. 2,569,346 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 $6,942.75 has been wired. Such fee
(which relates to the 2,569,346 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 as follows:
____________
*Of this amount 1,175,062 were Class A shares
which were redeemed at an aggregate price of
$12,411,646 and 2,243,468 Class B shares which
were redeemed at an aggregate price of
$23,832,222. The aggregate price of all shares of
Beneficial Interest redeemed during the Fiscal
Year was $36,243,868.
**Of this amount 449,628 Class A shares were sold
at an aggregate price of $4,805,804 and 2,119,718
Class B shares were sold at an aggregate price of
$22,234,514. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $27,040,318.
<PAGE>
(i) Actual aggregate price for the
2,569,346 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$27,040,318
reduced by
(ii) Aggregate redemption price for
the 454,903 shares of Beneficial
Interest redeemed during the
Fiscal Year.* $4,823,522
equal amount on which filing fee
is based $22,216,796
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. 3,481,741 shares of Beneficial Interest
were sold during the Fiscal Year.**
4. 3,481,741 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 $9,411.66 has been wired. Such fee
(which relates to the 3,481,741 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
____________
*Of this amount 182,088 were Class A shares which
were redeemed at an aggregate price of $1,944,283
and 272,815 Class B shares were redeemed at an
aggregate price of $2,879,239. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was $4,823,522.
**Of this amount 354,701 Class A shares were sold
at an aggregate price of $3,881,723 and 3,127,040
Class B shares were sold at an aggregate price of
$33,253,505. The aggregate price of all shares of
Beneficial Interest sold during the Fiscal Year
was $37,135,228.
<PAGE>
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 as follows:
(i) Actual aggregate price for the
3,481,741 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$37,135,228
reduced by
(ii) Aggregate redemption price for
the 660,273 shares of Beneficial
Interest redeemed during the
Fiscal Year.* $ 7,017,929
equal amount on which filing fee
is based $30,117,299
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. 2,715,337 shares of Beneficial Interest were
sold during the Fiscal Year.**
4. 2,715,337 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 179,030 were Class A shares which
were redeemed at an aggregate price of $1,881,614
and 481,243 Class B shares which were redeemed at
an aggregate price of $5,136,315. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was $7,017,929.
**Of this amount 276,160 Class A shares were sold
at an aggregate price of $3,048,702 and 2,439,177
Class B shares were sold at an aggregate price of
$26,296,192. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $29,344,894.
<PAGE>
5. In accordance with Paragraph (c) of Rule 24f-2,
the fee of $6,400.64 has been wired. Such fee
(which relates to the 2,715,337 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 as follows:
(i) Actual aggregate price for the
2,715,337 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$29,344,894
reduced by
(ii) Aggregate redemption price for
the 818,810 shares of Beneficial
Interest redeemed during the
Fiscal Year.* $8,862,834
equal amount on which filing fee
is based $20,482,060
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.
3. 2,945,998 shares of Beneficial Interest
were sold during the Fiscal Year.**
4. 2,945,998 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
____________
*Of this amount 86,918 were Class A shares which
were redeemed at an aggregate price of $934,980
and 731,892 Class B shares which were redeemed at
an aggregate price of $7,927,854. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was $8,862,834.
**Of this amount 391,700 Class A shares were sold
at an aggregate price of $4,240,356 and 2,554,298
Class B shares were sold at an aggregate price of
$27,098,873. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $31,339,229.
<PAGE>
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 $8,653.85 has been wired. Such fee
(which relates to the 2,945,998 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 as follows:
(i) Actual aggregate price for the
2,945,998 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$31,339,229
reduced by
(ii) Aggregate redemption price for
the 344,276 shares of Beneficial
Interest redeemed during the
Fiscal Year.* $3,646,915
equal amount on which filing fee
is based $27,692,314
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. 3,016,771 shares of Beneficial Interest
were sold during the Fiscal Year.**
____________
*Of this amount 42,747 were Class A shares which
were redeemed at an aggregate price of $457,176
and 301,529 Class B shares which were redeemed at
an aggregate price of $3,189,739. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was $3,646,915.
**Of this amount 584,723 Class A shares were sold
at an aggregate price of $6,338,405 and 2,432,048
Class B shares were sold at an aggregate price of
$25,974,673. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $32,313,078.
<PAGE>
4. 3,016,771 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 $6,216.36 has been wired.
Such fee (which relates to the 3,016,771
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 as follows:
(i) Actual aggregate price for the
3,016,771 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$32,313,078
reduced by
(ii) Aggregate redemption price for
the 1,161,085 shares of Beneficial
Interest redeemed during the
Fiscal Year.*
$12,420,727
equal amount on which filing fee
is based $19,892,351
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. 4,937,635 shares of Beneficial Interest
were sold during the Fiscal Year.**
____________
*Of this amount 354,895 were Class A shares which
were redeemed at an aggregate price of $3,778,384
and 806,190 Class B shares which were redeemed at
an aggregate price of $8,642,343. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was $12,420,727.
**Of this amount 1,069,200 Class A shares were
sold at an aggregate price of $11,189,976 and
3,868,435 Class B shares were sold at an aggregate
price of $39,508,786. The aggregate sale price of
all shares of Beneficial Interest sold during the
Fiscal Year was $50,698,762.
<PAGE>
4. 4,937,635 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 $14,615.50 has been wired.
Such fee (which relates to the 4,937,635
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 as follows:
(i) Actual aggregate price for the
4,937,635 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$50,698,762
reduced by
(ii) Aggregate redemption price for
the 379,119 shares of Beneficial
Interest redeemed during the
Fiscal Year.* $3,929,150
equal amount on which filing fee
is based $46,769,612
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. 5,700,440 shares of Beneficial Interest
were sold during the Fiscal Year.**
____________
*Of this amount 209,729 were Class A shares which
were redeemed at an aggregate price of $2,167,397
and 169,390 Class B shares which were redeemed at
an aggregate price of $1,761,753. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was $3,929,150.
**Of this amount 1,318,905 Class A shares were
sold at an aggregate price of $13,546,644 and
4,381,535 Class B shares were sold at an aggregate
price of $44,258,981. The aggregate sale price of
all shares of Beneficial Interest sold during the
Fiscal Year was $57,805,625.
<PAGE>
4. 5,700,440 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 $17,631.08 has been wired. Such fee
(which relates to the 5,700,440 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 as follows:
(i) Actual aggregate price for the
5,700,440 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$57,805,625
reduced by
(ii) Aggregate redemption price for
the 136,545 shares of Beneficial
Interest redeemed during the
Fiscal Year.* $1,386,175
equal amount on which filing fee
is based
$56,419,450
XI. 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.
3. No shares of Beneficial Interest were sold
during the Fiscal Year, as this Fund had not
yet commenced operations at its year-end.
____________
*Of this amount 47,348 were Class A shares which
were redeemed at an aggregate price of $481,138
and 89,197 Class B shares which were redeemed at
an aggregate price of $905,037. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was $1,386,175.
<PAGE>
4. No shares of Beneficial Interest were sold
during the Fiscal Year in reliance upon
registration pursuant to Rule 24f-2. Since
no shares were sold during the Fiscal Year
in reliance upon Rule 24f-2, no filing fee or
opinion of counsel relating to this Fund
accompanies this Notice.
Please direct any questions relating to this
filing to Jerry Weiss at the above address or to
Laurin Blumenthal Kleiman at Brown & Wood, One
World Trade Center, New York, New York 10048,
(212) 839-8525.
Very truly yours,
Merrill Lynch Multi-State Municipal Series Trust
By /s/ Jerry Weiss
- - - - - - - - - - -
Jerry Weiss
Secretary
BROWN & WOOD
One World Trade Center
New York, N.Y. 10048-0557
Telephone: 212-839-5300
Facsimile 212-839-5599
September 22, 1993
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 100,212,783 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, 1993. The Shares consist of 5,173,049 shares of
beneficial interest of Merrill Lynch Pennsylvania Municipal Bond
Fund (the "Pennsylvania Fund"); 6,933,550 shares of beneficial
interest of Merrill Lynch New Jersey Municipal Bond Fund (the
"New Jersey Fund"); 10,738,916 shares of beneficial interest of
Merrill Lynch Florida Municipal Bond Fund (the "Florida Fund");
2,569,346 shares of beneficial interest of Merrill Lynch
Minnesota Municipal Bond Fund (the "Minnesota Fund"); 3,481,741
shares of beneficial interest of Merrill Lynch Massachusetts
Municipal Bond Fund (the "Massachusetts Fund"); 2,715,337 shares
of beneficial interest of Merrill Lynch Texas Municipal Bond Fund
(the "Texas Fund"); 2,945,998 shares of beneficial interest of
Merrill Lynch Ohio Municipal Bond Fund (the "Ohio Fund");
3,016,771 shares of beneficial interest of the Merrill Lynch
Arizona Municipal Bond Fund (the "Arizona Fund"); 4,937,635
shares of beneficial interest of the Merrill Lynch North Carolina
Municipal Bond Fund (the "North Carolina Fund"); and 57,700,440
shares of beneficial interest of the Merrill Lynch Michigan
Municipal Bond Fund (the "Michigan Fund"). The Pennsylvania, New
Jersey, Florida, Minnesota, Massachusetts, Texas, Ohio, Arizona,
North Carolina and Michigan Funds comprise ten of the eleven
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 15, 1993, 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,
