September 22, 1994
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, 33-49873,
33-48693, 33-52303, 33-50051
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 fifteen of its
constituent portfolios: The Merrill Lynch
Pennsylvania, New Jersey, Florida, Minnesota,
Massachusetts, Texas, Ohio, Arizona, North
Carolina, Michigan, Maryland, Colorado, New
Mexico, Connecticut 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,
1994 (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. 4,016,094 shares of Beneficial Interest were
sold during the Fiscal Year.*
4. 4,016,094 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 $8,106.34 has been wired. Such fee
(which relates to the 4,016,094 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
4,016,094 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$45,977,095
reduced by
(ii) Aggregate redemption price for
the 2,005,607 shares of Beneficial
Interest redeemed during the
Fiscal Year.**
$ 22,468,877
equal amount on which filing fee
is based $23,508,218
____________
*Of this amount 550,023 Class A shares were sold
at an aggregate price of $6,297,702 and 3,466,071
Class B shares were sold at an aggregate price of
$39,679,393. The aggregate price of all shares of
Beneficial Interest sold during the Fiscal Year
was $45,977,095. All of such amount was sold in
reliance upon registration pursuant to
Rule 24f-2.
**Of this amount 489,751 were Class A shares which
were redeemed at an aggregate price of $5,530,577
and 1,515,856 were Class B shares which were redeemed
at an aggregate price of $16,938,300. The
aggregate price of all shares of Beneficial
Interest redeemed during the Fiscal Year was
$22,468,877.
<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. 5,484,430 shares of Beneficial Interest were
sold during the Fiscal Year.*
4. 5,484,430 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 $5,005.54 has been wired. Such fee
(which relates to the 5,484,430 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
5,484,430 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$61,314,100
reduced by
(ii) Aggregate redemption price for
the 4,285,108 shares of Beneficial
Interest redeemed during the
Fiscal Year.**
$46,798,141
equal amount on which filing fee
is based $14,515,959
____________
*Of this amount 1,095,757 Class A shares were sold
at an aggregate price of $12,234,220 and 4,388,673
Class B shares were sold at an aggregate sale
price of $49,079,880. The aggregate sale price of
all shares of Beneficial Interest sold during the
Fiscal Year was $61,314,100.
**Of this amount 1,011,632 were Class A shares
which were redeemed at an aggregate sale price of
$11,085,681 and 3,273,476 were Class B shares which
were redeemed at an aggregate price of
$35,712,460. The aggregate price of all shares of
Beneficial Interest redeemed during the Fiscal
Year was $46,798,141.
<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. 9,474,454 shares of Beneficial Interest
were sold during the Fiscal Year.*
4. 9,474,454 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 $9,319.16 has been wired. Such fee
(which relates to the 9,474,454 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
9,474,454 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$100,775,550
____________
*Of this amount 3,108,779 Class A shares were sold
at an aggregate price of $33,308,938 and 6,365,675
Class B shares were sold at an aggregate price of
$67,466,612. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $100,775,550.
reduced by
(ii) Aggregate redemption price for
the 7,089,113 shares of Beneficial
Interest redeemed during the
Fiscal Year.*
$ 73,750,191
equal amount on which filing fee
is based $ 27,025,359
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. 1,135,415 shares of Beneficial Interest were
sold during the Fiscal Year.**
4. 1,135,415 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. Since the aggregate sales price of securities
sold during the Fiscal Year in reliance upon
registration pursuant to Rule 24f-2 is less
than the aggregate redemption price of
securities redeemed during the Fiscal Year,
no filing fee is required in connection with
the filing of this notice. The calculation
is as follows:
____________
*Of this amount 2,883,654 were Class A shares
which were redeemed at an aggregate price of
$30,309,691 and 4,205,459 were Class B shares which
were redeemed at an aggregate price of
$43,440,500. The aggregate price of all shares of
Beneficial Interest redeemed during the Fiscal
Year was $73,750,191.
**Of this amount 243,419 Class A shares were sold
at an aggregate price of $2,584,540 and 891,996
Class B shares were sold at an aggregate price of
$9,650,171. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $12,234,711.
<PAGE>
(i) Actual aggregate price for the
1,135,415 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$12,234,711
reduced by
(ii) Aggregate redemption price for
the 1,252,126 shares of Beneficial
Interest redeemed during the
Fiscal Year.*
$ 13,452,317
equal amount on which filing fee
is based $ 0
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. 2,117,473 shares of Beneficial Interest were
sold during the Fiscal Year.**
4. 2,117,473 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 $2,828.75 has been wired. Such fee
(which relates to the 2,117,473 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 606,053 were Class A shares which
were redeemed at an aggregate price of $6,559,427
and 646,073 were Class B shares were redeemed at an
aggregate price of $6,892,890. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was $13,452,317.
**Of this amount 307,747 Class A shares were sold
at an aggregate price of $3,438,464 and 1,809,726
Class B shares were sold at an aggregate price of
$19,990,791. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $23,429,255.
<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
2,117,473 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$23,429,255
reduced by
(ii) Aggregate redemption price for
the 1,392,832 shares of Beneficial
Interest redeemed during the
Fiscal Year.*
$ 15,225,957
equal amount on which filing fee
is based $8,203,298
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. 2,157,623 shares of Beneficial Interest were
sold during the Fiscal Year.**
4. 2,157,623 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 169,861 were Class A shares which
were redeemed at an aggregate price of $1,887,059
and 1,222,971 were Class B shares which were redeemed
at an aggregate price of $13,338,898. The
aggregate price of all shares of Beneficial
Interest redeemed during the Fiscal Year was
$15,225,957.
**Of this amount 196,267 Class A shares were sold
at an aggregate price of $2,137,113 and 1,961,356
Class B shares were sold at an aggregate price of
$21,507,864. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $23,644,977.
<PAGE>
5. In accordance with Paragraph (c) of Rule 24f-
2, the fee of $2,515.28 has been wired. Such fee
(which relates to the 2,157,623 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
2,157,623 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$23,644,977
reduced by
(ii) Aggregate redemption price for
the 1,507,656 shares of Beneficial
Interest redeemed during the
Fiscal Year.*
$ 16,350,718
equal amount on which filing fee
is based $7,294,259
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. 2,294,914 shares of Beneficial Interest were
sold during the Fiscal Year.**
4. 2,294,914 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
____________
*Of this amount 273,904 were Class A shares which
were redeemed at an aggregate price of $2,943,253
and 1,233,752 were Class B shares which were redeemed
at an aggregate price of $13,407,465. The
aggregate price of all shares of Beneficial
Interest redeemed during the Fiscal Year was
$16,350,718.
**Of this amount 337,482 Class A shares were sold
at an aggregate price of $3,697,753 and 1,957,432
Class B shares were sold at an aggregate price of
$21,477,219. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $25,174,972.
<PAGE>
definite in number were legally issued, fully
paid and non- assessable.
5. In accordance with Paragraph (c) of Rule 24f-
2, the fee of $5,086.18 has been wired. Such fee
(which relates to the 2,294,914 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
2,294,914 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$25,174,972
reduced by
(ii) Aggregate redemption price for
the 967,080 shares of Beneficial
Interest redeemed during the
Fiscal Year.*
$ 10,425,147
equal amount on which filing fee
is based $ 14,749,825
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. 2,433,494 shares of Beneficial Interest
were sold during the Fiscal Year.**
____________
*Of this amount 237,374 were Class A shares which
were redeemed at an aggregate price of $2,563,654
and 729,706 were Class B shares which were redeemed at
an aggregate price of $7,861,493. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was $10,425,147.
**Of this amount 627,096 Class A shares were sold
at an aggregate price of $6,887,189 and 1,806,398
Class B shares were sold at an aggregate price of
$19,567,507. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $26,454,696.
<PAGE>
4. 2,433,494 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 $1,030.85 has been wired.
Such fee (which relates to the 2,433,494 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
2,433,494 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$26,454,696
reduced by
(ii) Aggregate redemption price for
the 2,206,761 shares of Beneficial
Interest redeemed during the
Fiscal Year.*
$23,465,244
equal amount on which filing fee
is based $ 2,989,452
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. 2,058,295 shares of Beneficial Interest
were sold during the Fiscal Year.**
____________
*Of this amount 562,798 were Class A shares which
were redeemed at an aggregate price of $5,985,598
and 1,643,963 were Class B shares which were redeemed
at an aggregate price of $17,479,646. The
aggregate price of all shares of Beneficial
Interest redeemed during the Fiscal Year was
$23,465,244.
**Of this amount 461,410 Class A shares were sold
at an aggregate price of $4,984,391 and 1,596,885
Class B shares were sold at an aggregate price of
$17,101,455. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $22,085,846.
<PAGE>
4. 2,058,295 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 $4,854.19 has been
wired. Such fee (which relates to the 2,058,295
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
2,058,295 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$22,085,846
reduced by
(ii) Aggregate redemption price for
the 765,416 shares of Beneficial
Interest redeemed during the
Fiscal Year.*
$8,008,797
equal amount on which filing fee
is based $14,077,049
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. 2,776,925 shares of Beneficial Interest were
sold during the Fiscal Year.**
____________
*Of this amount 276,285 were Class A shares which
were redeemed at an aggregate price of $2,887,349
and 489,131were Class B shares which were redeemed at
an aggregate price of $5,121,448. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was $8,008,797.
**Of this amount 557,125 Class A shares were sold
at an aggregate price of $5,810,407 and 2,219,800
Class B shares were sold at an aggregate price of
$22,857,254. The aggregate sale price of all
shares of Beneficial Interest sold during the
Fiscal Year was $28,667,661.
<PAGE>
4. 2,776,925 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 $6,498.14 has been wired.
Such fee (which relates to the 2,776,925 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
2,776,925 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$28,667,661
reduced by
(ii) Aggregate redemption price for
the 980,759 shares of Beneficial
Interest redeemed during the
Fiscal Year.*
$9,823,180
equal amount on which filing fee
is based $18,844,481
____________
*Of this amount 344,338 were Class A shares which
were redeemed at an aggregate price of $3,459,579
and 636,421 were Class B shares which were redeemed at
an aggregate price of $6,363,601. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was $9,823,180.
<PAGE>
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. 3,693,619 shares of Beneficial Interest were
sold during the Fiscal Year.*
4. 3,693,619 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 $11,762.45 has
been wired. Such fee
(which relates to the 3,693,619 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
3,693,619 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$37,055,331
_______________
*Of this amount 798,207 Class A shares were sold
at an aggregate price of $8,076,826 and 2,895,412
were Class B shares were sold at an aggregate price of
$28,978,505. The aggregate price of all shares of
Beneficial Interest sold during the Fiscal Year
was $37,055,331.
<PAGE>
reduced by
(ii) Aggregate redemption price for
the 305,225 shares of Beneficial
Interest redeemed during the
Fiscal Year.*
$2,944,482
equal amount on which filing fee
is based $34,110,849
XII Merrill Lynch Connecticut 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. 2,337,779 shares of Beneficial Interest were
sold
during the Fiscal Year.**
4. 2,337,779 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 $7,893.90 has been
wired. Such fee (which relates to the 2,337,779
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
_______________
*Of this amount 108,407 were Class A shares which
were redeemed at an aggregate price of $1,045,172
and 196,818 were Class B shares which were redeemed at
an aggregate price of $1,899,310. The aggregate
price of all shares of Beneficial Interest
redeemed during the Fiscal Year was $2,944,482.
**Of this amount 635,204 Class A shares were sold
at an aggregate price of $6,435,229 and 1,702,575
Class B shares were sold at an aggregate sale
price of $17,045,224. The aggregate sale price of
all shares of Beneficial Interest sold during the
Fiscal Year was $23,480,453.
<PAGE>
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
2,337,779 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$23,480,453
reduced by
(ii) Aggregate redemption price for
the 58,216 shares of Beneficial
Interest redeemed during the
Fiscal Year.* $588,322
equal amount on which filing fee
is based $22,892,131
XIII.Merrill Lynch Maryland 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. 2,061,173 shares of Beneficial Interest were
sold during the Fiscal Year.**
_______________
*Of this amount none were Class A shares;
58,216 were Class B shares which were redeemed
at an aggregate price of $588,322.
**Of this amount 386,420 Class A shares were sold
at an aggregate price of $3,903,174 and 1,674,753
Class B shares were sold at an aggregate sale
price of $16,422,297. The aggregate sale price of
all shares of Beneficial Interest sold during the
Fiscal Year was $20,325,471.
<PAGE>
4. 2,061,173 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 $5,861.27 has been
wired. Such fee (which relates to the 2,061,173
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
2,061,173 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$20,325,471
reduced by
(ii) Aggregate redemption price for
the 348,296 shares of Beneficial
Interest redeemed during the
Fiscal Year.*
$3,327,911
equal amount on which filing fee
is based $16,997,560
XIV. Merrill Lynch New Mexico 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.
_______________
*Of this amount 222,972 were Class A shares which
were redeemed at an aggregate sale price of
$2,132,507 and 125,324 were Class B shares which were
redeemed at an aggregate price of $1,195,404. The
aggregate price of all shares of Beneficial
Interest redeemed during the Fiscal Year was
$3,327,911.
<PAGE>
3. 1,647,687 shares of Beneficial Interest were
sold during the Fiscal Year.*
4. 1,647,687 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 $5,658.57 has been
wired. Such fee (which relates to the 1,647,687
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 calculation of the amount on
which the filing fee is based as follows:
(i) Actual aggregate price for the
1,647,687 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$16,725,839
reduced by
(ii) Aggregate redemption price for
the 31,377 shares of Beneficial
Interest redeemed during the
Fiscal Year.** $316,102
equal amount on which filing fee
is based $16,409,737
____________
*Of this amount 811,846 Class A shares were sold
at an aggregate price of $8,329,230 and 835,841
Class B shares were sold at an aggregate sale
price of $8,396,609. The aggregate sale price of
all shares of Beneficial Interest sold during the
Fiscal Year was $16,725,839.
**Of this amount 20,059 were Class A shares which
were redeemed at an aggregate sale price of
$201,258 and 11,318 were Class B shares which were
redeemed at an aggregate price of $114,844. The
aggregate price of all shares of Beneficial
Interest redeemed during the Fiscal Year was
$316,102.
<PAGE>
XV. Merrill Lynch Colorado 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. 2,899,284 shares of Beneficial Interest were
sold during the Fiscal Year.*
4. 2,899,284 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 $9,128.05 has been
wired. Such fee (which relates to the 2,899,284
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 calculation of the amount on
which the filing fee is based as follows:
(i) Actual aggregate price for the
2,899,284 shares of Beneficial
Interest sold during the Fiscal
Year in reliance upon registration
pursuant to Rule 24f-2.
$28,942,166
reduced by
(ii) Aggregate redemption price for
the 154,499 shares of Beneficial
Interest redeemed during the
Fiscal Year.** $ 2,471,019
equal amount on which filing fee
is based $26,471,147
____________
*Of this amount 1,233,303 Class A shares were sold
at an aggregate price of $12,378,877 and 1,665,981
Class B shares were sold at an aggregate sale
price of $16,563,289. The aggregate sale price of
all shares of Beneficial Interest sold during the
Fiscal Year was $28,942,166.
**Of this amount 116,612 were Class A shares which
were redeemed at an aggregate sale price of
$1,140,447 and 137,887 were Class B shares which were
redeemed at an aggregate price of $1,330,572. The
aggregate price of all shares of Beneficial
Interest redeemed during the Fiscal Year was
$2,471,019.
<PAGE>
Please direct any questions relating to this
filing to Jerry Weiss at Merrill Lynch Asset
Management, P.O. Box 9011, Princeton, N.J. 08543-
9011 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 20, 1994
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 46,588,659 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, 1994. The
Shares consist of 4,016,094 shares of beneficial
interest of Merrill Lynch Pennsylvania Municipal Bond
Fund (the "Pennsylvania Fund"); 5,484,430 shares
of beneficial interest of Merrill Lynch New Jersey
Municipal Bond Fund (the "New Jersey Fund");
9,474,454 shares of beneficial interest of
Merrill Lynch Florida Municipal Bond Fund
(the "Florida Fund"); 1,135,415 shares of beneficial
interest of Merrill Lynch Minnesota Municipal
Bond Fund (the "Minnesota Fund"); 2,117,473
shares of beneficial interest of Merrill Lynch
Massachusetts Municipal Bond Fund
(the "Massachusetts Fund"); 2,157,623 shares
of beneficial interest of Merrill Lynch Texas
Municipal Bond Fund (the "Texas Fund"); 2,294,914
shares of beneficial interest of Merrill Lynch Ohio
Municipal Bond Fund (the "Ohio Fund"); 2,433,494
shares of beneficial interest of the Merrill Lynch
Arizona Municipal Bond Fund (the "Arizona Fund");
2,058,295 shares of beneficial interest of the
Merrill Lynch North Carolina Municipal Bond Fund
(the "North Carolina Fund"); 2,776,925 shares
of beneficial interest of the Merrill Lynch
Michigan Municipal Bond Fund (the "Michigan Fund");
3,693,619 shares of beneficial interest of the
Merrill Lynch Oregon Municipal Bond Fund (the
"Oregon Fund"); 2,337,779 shares of beneficial
interest of the Merrill Lynch Connecticut Municipal
Bond Fund (the "Connecticut Fund"); 2,061,173
shares of beneficial interest of the Merrill
Lynch Maryland Municipal Bond Fund
(the "Maryland Fund"); 1,647,687 shares of
beneficial interest of the Merrill Lynch New
Mexico Municipal Bond Fund (the "New Mexico
Fund"); and 2,899,284 shares of beneficial
interest of the Merrill Lynch Colorado Municipal
Bond Fund (the "Colorado Fund"). The Pennsylvania,
New Jersey, Florida, Minnesota, Massachusetts,
Texas, Ohio, Arizona, North Carolina, Michigan,
Oregon, Connecticut, Maryland, New Mexico and
Colorado Funds comprise 15 of the 16 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 20, 1994, 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,
