<PAGE> PAGE 1
000 B000000 12/31/97
000 C000000 893565
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 SAFECO TAX-EXEMPT BOND TRUST
001 B000000 811-7300
001 C000000 2065455172
002 A000000 SAFECO PLAZA S-1
002 B000000 SEATTLE
002 C000000 WA
002 D010000 98185
002 D020000 0000
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 5
007 C010100 1
007 C020100 SAFECO MUNICIPAL BOND FUND
007 C030100 N
007 C010200 2
007 C020200 SAFECO CALIFORNIA TAX-FREE INCOME FUND
007 C030200 N
007 C010300 3
007 C020300 SAFECO WASHINGTON MUNICIPAL BOND FUND
007 C030300 N
007 C010400 4
007 C020400 SAFECO INSURED MUNICIPAL BOND FUND
007 C030400 N
007 C010500 5
007 C020500 SAFECO INTERMEDIATE-TERM MUNICIPAL BOND FUND
007 C030500 N
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 SAFECO ASSET MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-8254
008 D01AA01 SEATTLE
008 D02AA01 WA
008 D03AA01 98185
011 A00AA01 SAFECO SECURITIES, INC.
011 B00AA01 8-13470
<PAGE> PAGE 2
011 C01AA01 SEATTLE
011 C02AA01 WA
011 C03AA01 98185
012 A00AA01 SAFECO SERVICES CORPORATION
012 B00AA01 84-00138
012 C01AA01 SEATTLE
012 C02AA01 WA
012 C03AA01 98185
013 A00AA01 ERNST & YOUNG, LLP.
013 B01AA01 SEATTLE
013 B02AA01 WA
013 B03AA01 98104
013 B04AA01 4086
015 A00AA01 STATE STREET BANK
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
015 A00AA02 DELETE
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 25
019 C00AA00 SAFECOFUND
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 FEDERATED TAX-EXEMPT MONEY MARKET FUND, INC.
022 B000001 25-6207710
022 C000001 103797
022 D000001 102756
022 A000002 SEI TAX-EXEMPT TRUST INSTITUTIONAL
022 B000002 93-6021572
022 C000002 20594
022 D000002 21909
022 A000003 MERRILL, LYNCH, PIERCE, FENNER, & SMITH, INC.
022 B000003 13-5674085
022 C000003 28265
022 D000003 13988
022 A000004 A. G. EDWARDS
022 B000004 43-0895447
022 C000004 11905
022 D000004 21931
<PAGE> PAGE 3
022 A000005 PRUDENTIAL BACHE SECURITIES, INC.
022 B000005 13-2308901
022 C000005 6002
022 D000005 14597
022 A000006 PROVIDENT CALIFORNIA MONEY FUND
022 B000006 13-2518466
022 C000006 10088
022 D000006 10124
022 A000007 SMITH BARNEY, HARRIS UPHAM & CO.
022 B000007 13-1912900
022 C000007 14068
022 D000007 3083
022 A000008 LEHMAN BROTHERS, INC.
022 B000008 13-2518466
022 C000008 11139
022 D000008 0
022 A000009 STONE & YOUNGBERG
022 B000009 94-1052545
022 C000009 4478
022 D000009 4946
022 A000010 RAYMOND JAME & ASSOCIATES
022 B000010 59-1237041
022 C000010 4754
022 D000010 3792
023 C000000 227638
023 D000000 215314
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
029 00AA00 Y
030 A00AA00 1
030 B00AA00 4.50
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
<PAGE> PAGE 4
032 00AA00 0
033 00AA00 1
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
042 A00AA00 0
042 B00AA00 0
042 C00AA00 100
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 Y
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 Y
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
066 A00AA00 N
067 00AA00 N
<PAGE> PAGE 5
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 N
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 Y
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 N
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 Y
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
<PAGE> PAGE 6
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
078 000000 Y
080 A00AA00 UNITED PACIFIC INSURANCE CO.
080 C00AA00 3000
081 A00AA00 N
081 B00AA00 0
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 11141
028 A020100 1336
028 A030100 0
028 A040100 8560
028 B010100 6238
028 B020100 1284
028 B030100 0
028 B040100 12321
028 C010100 12025
028 C020100 1247
028 C030100 0
028 C040100 13181
028 D010100 9698
028 D020100 1400
028 D030100 0
028 D040100 8930
028 E010100 7566
028 E020100 1291
028 E030100 0
028 E040100 6770
028 F010100 4100
<PAGE> PAGE 7
028 F020100 6756
028 F030100 0
028 F040100 5933
028 G010100 50768
028 G020100 13314
028 G030100 0
028 G040100 55695
028 H000100 159
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 100000
048 A020100 0.550
048 B010100 150000
048 B020100 0.450
048 C010100 250000
048 C020100 0.350
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 500000
048 K020100 0.250
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 98.1
062 P000100 0.0
062 Q000100 0.0
<PAGE> PAGE 8
062 R000100 0.7
063 A000100 0
063 B000100 23.5
064 A000100 Y
064 B000100 N
071 A000100 64408
071 B000100 72484
071 C000100 476410
071 D000100 14
072 A000100 12
072 B000100 28152
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 2041
072 G000100 0
072 H000100 0
072 I000100 327
072 J000100 23
072 K000100 0
072 L000100 39
072 M000100 6
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 24
072 S000100 0
072 T000100 1
072 U000100 0
072 V000100 1
072 W000100 13
072 X000100 2475
072 Y000100 0
072 Z000100 25677
072AA000100 6639
072BB000100 7
072CC010100 17239
072CC020100 0
072DD010100 25652
072DD020100 25
072EE000100 5353
073 A010100 0.7500
073 A020100 1.2894
073 B000100 0.1560
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 0
074 D000100 497651
074 E000100 0
<PAGE> PAGE 9
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 8568
074 M000100 0
074 N000100 506219
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 2381
074 S000100 0
074 T000100 503838
074 U010100 34641
074 U020100 62
074 V010100 14.52
074 V020100 14.52
074 W000100 0.0000
074 X000100 10095
074 Y000100 0
075 A000100 0
075 B000100 483392
076 000100 0.00
028 A010200 2857
028 A020200 216
028 A030200 0
028 A040200 1545
028 B010200 4053
028 B020200 213
028 B030200 0
028 B040200 2903
028 C010200 4469
028 C020200 199
028 C030200 0
028 C040200 2140
028 D010200 4498
028 D020200 239
028 D030200 0
028 D040200 1857
028 E010200 2879
028 E020200 220
028 E030200 0
028 E040200 1580
028 F010200 2666
028 F020200 759
028 F030200 0
<PAGE> PAGE 10
028 F040200 2152
028 G010200 21422
028 G020200 1846
028 G030200 0
028 G040200 12177
028 H000200 323
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 100000
048 A020200 0.550
048 B010200 150000
048 B020200 0.450
048 C010200 250000
048 C020200 0.350
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 500000
048 K020200 0.250
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 97.4
062 P000200 0.0
062 Q000200 0.0
062 R000200 1.1
063 A000200 0
<PAGE> PAGE 11
063 B000200 24.5
064 A000200 Y
064 B000200 N
071 A000200 19301
071 B000200 7242
071 C000200 73658
071 D000200 10
072 A000200 12
072 B000200 4295
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 424
072 G000200 0
072 H000200 0
072 I000200 60
072 J000200 6
072 K000200 0
072 L000200 7
072 M000200 4
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 25
072 S000200 0
072 T000200 2
072 U000200 0
072 V000200 1
072 W000200 2
072 X000200 531
072 Y000200 0
072 Z000200 3764
072AA000200 367
072BB000200 0
072CC010200 4618
072CC020200 0
072DD010200 3744
072DD020200 20
072EE000200 364
073 A010200 0.6048
073 A020200 1.0600
073 B000200 0.0530
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 0
074 D000200 88029
074 E000200 0
074 F000200 0
074 G000200 0
<PAGE> PAGE 12
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 1565
074 M000200 0
074 N000200 89594
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 254
074 S000200 0
074 T000200 89340
074 U010200 6833
074 U020200 74
074 V010200 12.93
074 V020200 12.93
074 W000200 0.0000
074 X000200 2063
074 Y000200 0
075 A000200 0
075 B000200 77173
076 000200 0.00
028 A010300 364
028 A020300 6
028 A030300 0
028 A040300 439
028 B010300 19
028 B020300 7
028 B030300 0
028 B040300 0
028 C010300 5406
028 C020300 6
028 C030300 0
028 C040300 5385
028 D010300 1
028 D020300 30
028 D030300 0
028 D040300 33
028 E010300 10
028 E020300 -15
028 E030300 0
028 E040300 1
028 F010300 27
028 F020300 14
028 F030300 0
028 F040300 24
028 G010300 5827
<PAGE> PAGE 13
028 G020300 49
028 G030300 0
028 G040300 5882
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 250000
048 A020300 0.650
048 B010300 250000
048 B020300 0.550
048 C010300 250000
048 C020300 0.450
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 750000
048 K020300 0.350
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 101.6
062 P000300 0.0
062 Q000300 0.0
062 R000300 1.6
063 A000300 0
063 B000300 22.0
064 A000300 Y
<PAGE> PAGE 14
064 B000300 N
071 A000300 1575
071 B000300 858
071 C000300 7356
071 D000300 12
072 A000300 12
072 B000300 429
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 49
072 G000300 0
072 H000300 0
072 I000300 3
072 J000300 4
072 K000300 0
072 L000300 0
072 M000300 4
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 15
072 S000300 0
072 T000300 2
072 U000300 2
072 V000300 1
072 W000300 0
072 X000300 80
072 Y000300 0
072 Z000300 349
072AA000300 0
072BB000300 9
072CC010300 321
072CC020300 0
072DD010300 326
072DD020300 23
072EE000300 0
073 A010300 0.4957
073 A020300 0.8453
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 0
074 D000300 8137
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
<PAGE> PAGE 15
074 J000300 0
074 K000300 0
074 L000300 0
074 M000300 121
074 N000300 8258
074 O000300 0
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 371
074 S000300 0
074 T000300 7887
074 U010300 665
074 U020300 55
074 V010300 10.95
074 V020300 10.96
074 W000300 0.0000
074 X000300 92
074 Y000300 0
075 A000300 0
075 B000300 7514
076 000300 0.00
028 A010400 967
028 A020400 19
028 A030400 0
028 A040400 298
028 B010400 852
028 B020400 19
028 B030400 0
028 B040400 459
028 C010400 7260
028 C020400 19
028 C030400 0
028 C040400 7124
028 D010400 672
028 D020400 48
028 D030400 0
028 D040400 160
028 E010400 475
028 E020400 -5
028 E030400 0
028 E040400 301
028 F010400 386
028 F020400 45
028 F030400 0
028 F040400 350
028 G010400 10612
028 G020400 145
028 G030400 0
<PAGE> PAGE 16
028 G040400 8692
028 H000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.000
048 A010400 250000
048 A020400 0.650
048 B010400 250000
048 B020400 0.550
048 C010400 250000
048 C020400 0.450
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 750000
048 K020400 0.350
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
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 90.1
062 P000400 0.0
062 Q000400 0.0
062 R000400 8.7
063 A000400 0
063 B000400 22.0
064 A000400 Y
064 B000400 N
071 A000400 2342
<PAGE> PAGE 17
071 B000400 1792
071 C000400 13762
071 D000400 13
072 A000400 12
072 B000400 799
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 95
072 G000400 0
072 H000400 0
072 I000400 11
072 J000400 5
072 K000400 0
072 L000400 1
072 M000400 4
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 14
072 S000400 0
072 T000400 0
072 U000400 4
072 V000400 0
072 W000400 0
072 X000400 134
072 Y000400 0
072 Z000400 665
072AA000400 70
072BB000400 0
072CC010400 766
072CC020400 0
072DD010400 665
072DD020400 0
072EE000400 0
073 A010400 0.4956
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 0
074 D000400 16318
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
<PAGE> PAGE 18
074 L000400 262
074 M000400 0
074 N000400 16580
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 64
074 S000400 0
074 T000400 16516
074 U010400 1454
074 U020400 0
074 V010400 11.36
074 V020400 0.00
074 W000400 0.0000
074 X000400 391
074 Y000400 0
075 A000400 0
075 B000400 14592
076 000400 0.00
028 A010500 168
028 A020500 27
028 A030500 0
028 A040500 248
028 B010500 -4174
028 B020500 25
028 B030500 0
028 B040500 -4228
028 C010500 4350
028 C020500 24
028 C030500 0
028 C040500 4570
028 D010500 136
028 D020500 44
028 D030500 0
028 D040500 80
028 E010500 142
028 E020500 9
028 E030500 0
028 E040500 105
028 F010500 465
028 F020500 50
028 F030500 0
028 F040500 816
028 G010500 1087
028 G020500 179
028 G030500 0
028 G040500 1591
028 H000500 0
<PAGE> PAGE 19
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.000
048 A010500 250000
048 A020500 0.550
048 B010500 250000
048 B020500 0.450
048 C010500 250000
048 C020500 0.350
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 750000
048 K020500 0.250
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
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 103.2
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 6.9
064 A000500 Y
064 B000500 N
071 A000500 1448
071 B000500 1574
071 C000500 13766
<PAGE> PAGE 20
071 D000500 11
072 A000500 12
072 B000500 725
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 77
072 G000500 0
072 H000500 0
072 I000500 11
072 J000500 4
072 K000500 0
072 L000500 1
072 M000500 4
072 N000500 0
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 14
072 S000500 0
072 T000500 0
072 U000500 4
072 V000500 0
072 W000500 1
072 X000500 116
072 Y000500 0
072 Z000500 609
072AA000500 15
072BB000500 0
072CC010500 388
072CC020500 0
072DD010500 609
072DD020500 0
072EE000500 0
073 A010500 0.4660
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 2
074 B000500 0
074 C000500 0
074 D000500 14222
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 214
074 M000500 0
<PAGE> PAGE 21
074 N000500 14438
074 O000500 0
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 658
074 S000500 0
074 T000500 13780
074 U010500 1262
074 U020500 0
074 V010500 10.92
074 V020500 0.00
074 W000500 0.0000
074 X000500 332
074 Y000500 0
075 A000500 0
075 B000500 13952
076 000500 0.00
SIGNATURE DAVID F HILL
TITLE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893565
<NAME> SAFECO TAX EXEMPT BOND TRUST
<SERIES>
<NUMBER> 2
<NAME> SAFECO CALIFORNIA TAX FREE INCOME FUND NO L
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 77,291
<INVESTMENTS-AT-VALUE> 88,029
<RECEIVABLES> 1,565
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 89,594
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 254
<TOTAL-LIABILITIES> 254
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 78,602
<SHARES-COMMON-STOCK> 6,833
<SHARES-COMMON-PRIOR> 5,897
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10,738
<NET-ASSETS> 89,340
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,295
<OTHER-INCOME> 0
<EXPENSES-NET> 531
<NET-INVESTMENT-INCOME> 3,764
<REALIZED-GAINS-CURRENT> 367
<APPREC-INCREASE-CURRENT> 4,618
<NET-CHANGE-FROM-OPS> 8,749
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,764)
<DISTRIBUTIONS-OF-GAINS> (364)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,478
<NUMBER-OF-SHARES-REDEEMED> (1,773)
<SHARES-REINVESTED> 231
<NET-CHANGE-IN-ASSETS> 17,033
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS/-PRIOR> 0
<OVERDISTRIBUTION-NII-PRIOR> 0
<OVERDISTRIBUTION-NET-GAINS-PRIO 0
<GROSS-ADVISORY-FEES> 424
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 107
<AVERAGE-NET-ASSETS> 77,173
<PER-SHARE-NAV-BEGIN> 12.22
<PER-SHARE-NII> 0.60
<PER-SHARE-GAIN-APPREC> 0.76
<PER-SHARE-DIVIDEND> (0.60)
<PER-SHARE-DISTRIBUTIONS> (0.05)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.93
<EXPENSE-RATIO> 0.68
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893565
<NAME> SAFECO TAX EXEMPT BOND TRUST
<SERIES>
<NUMBER> 2
<NAME> SAFECO CALIFORNIA TAX FREE INCOME FUND CLAS
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 77,291
<INVESTMENTS-AT-VALUE> 88,029
<RECEIVABLES> 1,565
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 89,594
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 254
<TOTAL-LIABILITIES> 254
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 78,602
<SHARES-COMMON-STOCK> 35
<SHARES-COMMON-PRIOR> 10
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10,738
<NET-ASSETS> 89,340
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,295
<OTHER-INCOME> 0
<EXPENSES-NET> 531
<NET-INVESTMENT-INCOME> 3,764
<REALIZED-GAINS-CURRENT> 367
<APPREC-INCREASE-CURRENT> 4,618
<NET-CHANGE-FROM-OPS> 8,749
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,764)
<DISTRIBUTIONS-OF-GAINS> (364)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 25
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 17,033
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS/-PRIOR> 0
<OVERDISTRIBUTION-NII-PRIOR> 0
<OVERDISTRIBUTION-NET-GAINS-PRIO 0
<GROSS-ADVISORY-FEES> 424
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 107
<AVERAGE-NET-ASSETS> 77,173
<PER-SHARE-NAV-BEGIN> 12.23
<PER-SHARE-NII> 0.58
<PER-SHARE-GAIN-APPREC> 0.76
<PER-SHARE-DIVIDEND> (0.58)
<PER-SHARE-DISTRIBUTIONS> (0.05)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.94
<EXPENSE-RATIO> 0.91
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893565
<NAME> SAFECO TAX EXEMPT BOND TRUST
<SERIES>
<NUMBER> 2
<NAME> SAFECO CALIFORNIA TAX FREE INCOME FUND CLAS
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 77,291
<INVESTMENTS-AT-VALUE> 88,029
<RECEIVABLES> 1,565
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 89,594
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 254
<TOTAL-LIABILITIES> 254
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 78,602
<SHARES-COMMON-STOCK> 39
<SHARES-COMMON-PRIOR> 8
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10,738
<NET-ASSETS> 89,340
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,295
<OTHER-INCOME> 0
<EXPENSES-NET> 531
<NET-INVESTMENT-INCOME> 3,764
<REALIZED-GAINS-CURRENT> 367
<APPREC-INCREASE-CURRENT> 4,618
<NET-CHANGE-FROM-OPS> 8,749
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,764)
<DISTRIBUTIONS-OF-GAINS> (364)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 31
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 17,033
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS/-PRIOR> 0
<OVERDISTRIBUTION-NII-PRIOR> 0
<OVERDISTRIBUTION-NET-GAINS-PRIO 0
<GROSS-ADVISORY-FEES> 424
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 107
<AVERAGE-NET-ASSETS> 77,173
<PER-SHARE-NAV-BEGIN> 12.22
<PER-SHARE-NII> 0.48
<PER-SHARE-GAIN-APPREC> 0.76
<PER-SHARE-DIVIDEND> (0.48)
<PER-SHARE-DISTRIBUTIONS> (0.05)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.93
<EXPENSE-RATIO> 1.63
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893565
<NAME> SAFECO TAX EXEMPT BOND TRUST
<SERIES>
<NUMBER> 4
<NAME> SAFECO INSURED MUNICIPAL BOND FUND
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 14,821
<INVESTMENTS-AT-VALUE> 16,318
<RECEIVABLES> 262
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 16,580
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 64
<TOTAL-LIABILITIES> 64
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 15,019
<SHARES-COMMON-STOCK> 1,454
<SHARES-COMMON-PRIOR> 1,227
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS/> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,497
<NET-ASSETS> 16,516
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 799
<OTHER-INCOME> 0
<EXPENSES-NET> 134
<NET-INVESTMENT-INCOME> 665
<REALIZED-GAINS-CURRENT> 70
<APPREC-INCREASE-CURRENT> 766
<NET-CHANGE-FROM-OPS> 1,501
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (665)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,204
<NUMBER-OF-SHARES-REDEEMED> (1,000)
<SHARES-REINVESTED> 23
<NET-CHANGE-IN-ASSETS> 3,329
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS/-PRIOR> (74)
<OVERDISTRIBUTION-NII-PRIOR> 0
<OVERDISTRIBUTION-NET-GAINS/-PRI 0
<GROSS-ADVISORY-FEES> 95
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 39
<AVERAGE-NET-ASSETS> 14,592
<PER-SHARE-NAV-BEGIN> 10.74
<PER-SHARE-NII> 0.50
<PER-SHARE-GAIN-APPREC> 0.62
<PER-SHARE-DIVIDEND> (0.50)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.36
<EXPENSE-RATIO> 0.92
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893565
<NAME> SAFECO TAX EXEMPT BOND TRUST
<SERIES>
<NUMBER> 3
<NAME> SAFECO INTERMEDIATE TERM MUNICIPAL BOND FUN
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 13,451
<INVESTMENTS-AT-VALUE> 14,222
<RECEIVABLES> 216
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14,438
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 658
<TOTAL-LIABILITIES> 658
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,009
<SHARES-COMMON-STOCK> 1,262
<SHARES-COMMON-PRIOR> 1,336
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS/> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 771
<NET-ASSETS> 13,780
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 725
<OTHER-INCOME> 0
<EXPENSES-NET> 116
<NET-INVESTMENT-INCOME> 609
<REALIZED-GAINS-CURRENT> 15
<APPREC-INCREASE-CURRENT> 771
<NET-CHANGE-FROM-OPS> 1,012
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (609)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 204
<NUMBER-OF-SHARES-REDEEMED> (308)
<SHARES-REINVESTED> 29
<NET-CHANGE-IN-ASSETS> (392)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS/-PRIOR> (22)
<OVERDISTRIBUTION-NII-PRIOR> 0
<OVERDISTRIBUTION-NET-GAINS-PRIO 0
<GROSS-ADVISORY-FEES> 77
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 39
<AVERAGE-NET-ASSETS> 13,952
<PER-SHARE-NAV-BEGIN> 10.61
<PER-SHARE-NII> 0.47
<PER-SHARE-GAIN-APPREC> 0.31
<PER-SHARE-DIVIDEND> (0.47)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.92
<EXPENSE-RATIO> 0.83
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893565
<NAME> SAFECO TAX EXEMPT BOND TRUST
<SERIES>
<NUMBER> 1
<NAME> SAFECO MUNICIPAL BOND FUND NO LOAD CLASS
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 430,038
<INVESTMENTS-AT-VALUE> 497,651
<RECEIVABLES> 8,568
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 506,219
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,381
<TOTAL-LIABILITIES> 2,381
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 436,225
<SHARES-COMMON-STOCK> 34,641
<SHARES-COMMON-PRIOR> 34,402
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS/> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 67,613
<NET-ASSETS> 503,838
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 28,152
<OTHER-INCOME> 0
<EXPENSES-NET> 2,475
<NET-INVESTMENT-INCOME> 25,677
<REALIZED-GAINS-CURRENT> 6,632
<APPREC-INCREASE-CURRENT> 17,239
<NET-CHANGE-FROM-OPS> 49,548
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (25,677)
<DISTRIBUTIONS-OF-GAINS> (5,353)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,119
<NUMBER-OF-SHARES-REDEEMED> (7,278)
<SHARES-REINVESTED> 1,399
<NET-CHANGE-IN-ASSETS> 22,445
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS/-PRIOR> (1,285)
<OVERDISTRIBUTION-NII-PRIOR> 0
<OVERDISTRIBUTION-NET-GAINS-PRIO 0
<GROSS-ADVISORY-FEES> 2,041
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 434
<AVERAGE-NET-ASSETS> 483,392
<PER-SHARE-NAV-BEGIN> 13.98
<PER-SHARE-NII> 0.75
<PER-SHARE-GAIN-APPREC> 0.70
<PER-SHARE-DIVIDEND> (0.75)
<PER-SHARE-DISTRIBUTIONS> (0.16)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.52
<EXPENSE-RATIO> 0.51
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893565
<NAME> SAFECO TAX EXEMPT BOND TRUST
<SERIES>
<NUMBER> 1
<NAME> SAFECO MUNICIPAL BOND FUND CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 430,038
<INVESTMENTS-AT-VALUE> 497,651
<RECEIVABLES> 8,568
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 506,219
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,381
<TOTAL-LIABILITIES> 2,381
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 436,225
<SHARES-COMMON-STOCK> 27
<SHARES-COMMON-PRIOR> 22
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS/> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 67,613
<NET-ASSETS> 503,838
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 28,152
<OTHER-INCOME> 0
<EXPENSES-NET> 2,475
<NET-INVESTMENT-INCOME> 25,677
<REALIZED-GAINS-CURRENT> 6,632
<APPREC-INCREASE-CURRENT> 17,239
<NET-CHANGE-FROM-OPS> 49,548
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (25,677)
<DISTRIBUTIONS-OF-GAINS> (5,353)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11
<NUMBER-OF-SHARES-REDEEMED> (8)
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 22,445
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS/-PRIOR> (1,285)
<OVERDISTRIBUTION-NII-PRIOR> 0
<OVERDISTRIBUTION-NET-GAINS-PRIO 0
<GROSS-ADVISORY-FEES> 2,041
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 434
<AVERAGE-NET-ASSETS> 483,392
<PER-SHARE-NAV-BEGIN> 13.99
<PER-SHARE-NII> 0.68
<PER-SHARE-GAIN-APPREC> 0.70
<PER-SHARE-DIVIDEND> (0.68)
<PER-SHARE-DISTRIBUTIONS> (0.16)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.53
<EXPENSE-RATIO> 0.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893565
<NAME> SAFECO TAX EXEMPT BOND TRUST
<SERIES>
<NUMBER> 1
<NAME> SAFECO MUNICIPAL BOND FUND CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 430,038
<INVESTMENTS-AT-VALUE> 497,651
<RECEIVABLES> 8,568
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 506,219
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,381
<TOTAL-LIABILITIES> 2,381
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 436,225
<SHARES-COMMON-STOCK> 35
<SHARES-COMMON-PRIOR> 8
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS/> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 67,613
<NET-ASSETS> 503,838
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 28,152
<OTHER-INCOME> 0
<EXPENSES-NET> 2,475
<NET-INVESTMENT-INCOME> 25,677
<REALIZED-GAINS-CURRENT> 6,632
<APPREC-INCREASE-CURRENT> 17,239
<NET-CHANGE-FROM-OPS> 49,548
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (25,677)
<DISTRIBUTIONS-OF-GAINS> (5,353)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 26
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 22,445
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS/-PRIOR> (1,285)
<OVERDISTRIBUTION-NII-PRIOR> 0
<OVERDISTRIBUTION-NET-GAINS-PRIO 0
<GROSS-ADVISORY-FEES> 2,041
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 434
<AVERAGE-NET-ASSETS> 483,392
<PER-SHARE-NAV-BEGIN> 13.98
<PER-SHARE-NII> 0.60
<PER-SHARE-GAIN-APPREC> 0.68
<PER-SHARE-DIVIDEND> (0.60)
<PER-SHARE-DISTRIBUTIONS> (0.16)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.50
<EXPENSE-RATIO> 1.53
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893565
<NAME> SAFECO TAX EXEMPT BOND TRUST
<SERIES>
<NUMBER> 5
<NAME> SAFECO WASHINGTON STATE MUNICIPAL BOND FUND
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 7,528
<INVESTMENTS-AT-VALUE> 8,137
<RECEIVABLES> 121
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8,258
<PAYABLE-FOR-SECURITIES> 329
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 42
<TOTAL-LIABILITIES> 371
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,278
<SHARES-COMMON-STOCK> 665
<SHARES-COMMON-PRIOR> 623
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 609
<NET-ASSETS> 7,887
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 429
<OTHER-INCOME> 0
<EXPENSES-NET> 80
<NET-INVESTMENT-INCOME> 349
<REALIZED-GAINS-CURRENT> (9)
<APPREC-INCREASE-CURRENT> 321
<NET-CHANGE-FROM-OPS> 661
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (349)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 601
<NUMBER-OF-SHARES-REDEEMED> (563)
<SHARES-REINVESTED> 5
<NET-CHANGE-IN-ASSETS> 782
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS/-PRIOR> 0
<OVERDISTRIBUTION-NII-PRIOR> 0
<OVERDISTRIBUTION-NET-GAINS-PRIO 0
<GROSS-ADVISORY-FEES> 49
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 31
<AVERAGE-NET-ASSETS> 7,356
<PER-SHARE-NAV-BEGIN> 10.53
<PER-SHARE-NII> 0.50
<PER-SHARE-GAIN-APPREC> 0.42
<PER-SHARE-DIVIDEND> (0.50)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.95
<EXPENSE-RATIO> 1.02
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893565
<NAME> SAFECO TAX EXEMPT BOND TRUST
<SERIES>
<NUMBER> 5
<NAME> SAFECO WASHINGTON STATE MUNICIPAL BOND FUND
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 7,528
<INVESTMENTS-AT-VALUE> 8,137
<RECEIVABLES> 121
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8,258
<PAYABLE-FOR-SECURITIES> 329
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 42
<TOTAL-LIABILITIES> 371
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,278
<SHARES-COMMON-STOCK> 33
<SHARES-COMMON-PRIOR> 32
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 609
<NET-ASSETS> 7,887
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 429
<OTHER-INCOME> 0
<EXPENSES-NET> 80
<NET-INVESTMENT-INCOME> 349
<REALIZED-GAINS-CURRENT> (9)
<APPREC-INCREASE-CURRENT> 321
<NET-CHANGE-FROM-OPS> 661
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (349)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 782
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS/-PRIOR> 0
<OVERDISTRIBUTION-NII-PRIOR> 0
<OVERDISTRIBUTION-NET-GAINS-PRIO 0
<GROSS-ADVISORY-FEES> 49
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 31
<AVERAGE-NET-ASSETS> 7,356
<PER-SHARE-NAV-BEGIN> 10.53
<PER-SHARE-NII> 0.46
<PER-SHARE-GAIN-APPREC> 0.42
<PER-SHARE-DIVIDEND> (0.46)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.95
<EXPENSE-RATIO> 1.32
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000893565
<NAME> SAFECO TAX EXEMPT BOND TRUST
<SERIES>
<NUMBER> 5
<NAME> SAFECO WASHINGTON STATE MUNICIPAL BOND FUND
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 7,528
<INVESTMENTS-AT-VALUE> 8,137
<RECEIVABLES> 121
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8,258
<PAYABLE-FOR-SECURITIES> 329
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 42
<TOTAL-LIABILITIES> 371
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,278
<SHARES-COMMON-STOCK> 22
<SHARES-COMMON-PRIOR> 20
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 609
<NET-ASSETS> 7,887
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 429
<OTHER-INCOME> 0
<EXPENSES-NET> 80
<NET-INVESTMENT-INCOME> 349
<REALIZED-GAINS-CURRENT> (9)
<APPREC-INCREASE-CURRENT> 321
<NET-CHANGE-FROM-OPS> 661
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (349)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 782
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS/-PRIOR> 0
<OVERDISTRIBUTION-NII-PRIOR> 0
<OVERDISTRIBUTION-NET-GAINS-PRIO 0
<GROSS-ADVISORY-FEES> 49
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 31
<AVERAGE-NET-ASSETS> 7,356
<PER-SHARE-NAV-BEGIN> 10.55
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> 0.42
<PER-SHARE-DIVIDEND> (0.38)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.97
<EXPENSE-RATIO> 2.13
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
Report of Independent Auditors
To the Shareholders and Board of Trustees of
SAFECO Tax-Exempt Bond Trust
In planning and performing our audit of the financial statements
of SAFECO Tax-Exempt Bond Trust (comprising, respectively, the
SAFECO Insured Municipal Bond Fund, SAFECO Intermediate-Term
Municipal Bond Fund, SAFECO Municipal Bond Fund, SAFECO
California Tax-Free Income Fund, and SAFECO Washington State
Municipal Bond Fund) for the year ended December 31, 1997, we
considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of
Form N-SAR, not to provide assurance on the internal control.
The management of SAFECO Tax-Exempt Bond Trust is responsible for
establishing and maintaining internal control. In fulfilling
this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles. Those
controls include the safeguarding of assets against unauthorized
acquisition, use, or disposition.
Because of inherent limitations in internal control, errors or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to
the risk that it may become inadequate because of changes in
conditions or because the effectiveness of the design and
operation may deteriorate.
Our consideration of the internal control would not necessarily
disclose all matters in the internal control that might be
material weaknesses under standards established by the American
Institute of Certified Public Accountants. A material weakness
is a condition in which the design or operation of one or more of
the internal control components does not reduce to a relatively
low level the risk that errors or fraud in amounts that would be
material in relation to the financial statements being audited
may occur and not be detected within a timely period by employees
in the normal course of performing their assigned functions.
However, at December 31, 1997, we noted no matters involving the
internal control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above.
This report is intended solely for the information and use of the
Board of Directors, management of SAFECO Tax-Exempt Bond Trust,
and the Securities and Exchange Commission.
Seattle, Washington
January 30, 1998
