[9536]
December 22, 1997
TO: MONEY MARKET FUNDS ADVISORY COMMITTEE No. 7-97
MUNICIPAL BANKRUPTCY TASK FORCE
RE: NOTICE OF FEBRUARY 3 MEETING
______________________________________________________________________________
A meeting has been scheduled for February 3, 1998 to discuss: (1) the technical
amendments to Rule 2a-7 recently adopted by the SEC, and any issues arising thereunder; (2)
possible amendments to the provisions of the Bankruptcy Code governing municipal
bankruptcies; and (3) general issues regarding municipal securities. With respect to municipal
securities, the meeting is intended to provide members a forum to discuss issues and
developments in the municipal securities market, such as the increased complexity of the
structure of VRDNs and concerns regarding the tax-exempt status of their underlying bonds.
In this regard, please provide me with any specific items that you would like to discuss at the
meeting. Because these issues, as well as those regarding the amendments to Rule 2a-7 and
municipal bankruptcies, are likely to be of interest to a number of different persons in your
firms (e.g., attorneys, analysts), we encourage you to invite them to the meeting.
The February 3rd meeting will be held at the Institutes offices in the David Silver
Conference Room and will begin at 10:00 am. Please contact Liane Walker (at 202/326-5816)
by January 16, 1997 to let her know whether you or other persons from your firm will be
attending the meeting.
Amy B.R. Lancellotta
Associate Counsel