ROCHESTER FUND MUNICIPALS
N-18F1, 1997-03-05
GROCERY STORES
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                                                              Reg. No. 33-3692
                                                              File No. 811-3614




                                  FORM N-18F-1



                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549




                 Notification of Election Pursuant to Rule 18f-1
                    Under the Investment Company Act of 1940






                            ROCHESTER FUND MUNICIPALS
                   350 Linden Oaks, Rochester, New York 14625
                ------------------------------------------------
                         Name and Address of Registrant




<PAGE>




                            NOTIFICATION OF ELECTION
                            ------------------------


The  undersigned  registered  open-end  investment  company hereby  notifies the
Securities  and Exchange  Commission  that it elects to commit  itself to pay in
cash all  redemptions by a shareholder of record as provided by Rule 18f-1 under
the  Investment  Company Act of 1940.  It is  understood  that this  election is
irrevocable  while such Rule is in effect  unless the  Commission  by order upon
application permits the withdrawal of this Notification of Election.




                                    SIGNATURE
                                    ---------

Pursuant to the  requirements of Rule 18f-1 under the Investment  Company Act of
1940,  the  registrant  has caused  this  notification  of  election  to be duly
executed  on its behalf in the City of New York and the State of New York on the
28th day of February, 1997.

                            ROCHESTER FUND MUNICIPALS
                            -----------------------------------
                               Name of Registrant



                                    By:     /s/ Andrew J. Donohue
                                            -----------------------------------
                                            Andrew J. Donohue, Secretary

ATTEST:


/s/ Robert G. Zack
- -----------------------------------
Robert G. Zack, Assistant Secretary




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