[Federal Register Volume 59, Number 103 (Tuesday, May 31, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-13115]


[[Page Unknown]]

[Federal Register: May 31, 1994]


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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 20311; 811-4093]

 

McDonald Tax Exempt Money Market Fund, Inc.; Notice of 
Application

May 23, 1994.
AGENCY: Securities and Exchange Commission (``SEC'').

ACTION: Notice of Application for Deregistration under the Investment 
Company Act of 1940 (the ``Act'').

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APPLICANT: McDonald Tax Exempt Money Market fund, Inc.

RELEVANT ACT SECTION: Order requested under section 8(f).

SUMMARY OF APPLICATION: Applicant seeks an order declaring it has 
ceased to be an investment company.

FILING DATE: The application was filed on May 2, 1994.

HEARING OR NOTIFICATION OF HEARING: An order granting the application 
will be issued unless the SEC orders a hearing. Interested persons may 
request a hearing by writing to the SEC's Secretary and serving 
applicant with a copy of the request, personally or by mail. Hearing 
requests should be received by the SEC by 5:30 p.m. on June 17, 1994, 
and should be accompanied by proof of service on the applicant, in the 
form of an affidavit or, for lawyers, a certificate of service. Hearing 
requests should state the nature of the writer's interest, the reason 
for the request, and the issues contested. Persons may request 
notification of a hearing by writing to the SEC's Secretary.

ADDRESSES: Secretary, SEC, 450 Fifth Street NW., Washington, DC 20549. 
Applicant, 144 Glenn Curtiss Boulevard, Uniondale, New York 11556-0144.

FOR FURTHER INFORMATION CONTACT:
Deepak Pai, Attorney, at (202) 942-0574, or Robert A. Robertson, Branch 
Chief, at (202) 942-0564 (Division of Investment Management, Office of 
Investment Company Regulation).

SUPPLEMENTARY INFORMATION: The following is a summary of the 
application. The complete application may be obtained for a fee from 
the SEC's Public Reference Branch.

Applicant's Representations

    1. Applicant is registered as an open-end management investment 
company under the Act and organized as a corporation under the laws of 
the State of Maryland. On August 22, 1984, applicant registered under 
the Act as an investment company, and filed a registration statement to 
register its shares under the Securities Act of 1933. The registration 
statement was declared effective on January 4, 1985, and an initial 
public offering of its shares of common stock commenced on August 7, 
1985.
    2. Applicant's board of directors determined that it would be in 
the best interests of applicant's stockholders that applicant be 
dissolved. On June 21, 1993, the board of directors approved the terms 
of the liquidation. The board instructed applicant to pay any of its 
obligations or debts, liquidate and distribute its assets and terminate 
its existence. Stockholders were given the option to purchase shares of 
Municipal Cash Series, a tax exempt money market fund managed by 
Federate Advisers, or to redeem their shares. As a result, all 
outstanding shares of applicant as of the close of business on 
September 24, 1993, were liquidated at the then-current net asset value 
per share and the proceeds of such liquidation were paid to the record 
holders of such shares.
    3. Distributions to all security holders in complete liquidation of 
their interests have been made. No brokerage commissions were incurred.
    4. On September 24, 1993, 134,318,073 shares of common stock, par 
value $.01 per share, were outstanding at a net asset value of $1.00 
per share. At such date, aggregate net assets of applicant were 
$134,300,777.
    5. In connection with its liquidation, applicant incurred 
approximately $4,000 of aggregate expenses, consisting primarily of 
outside legal expenses, all of which were paid by McDonald & Company 
Securities, Inc., applicant's investment adviser.
    6. As of the date of this application, applicant has no debts or 
liabilities and is not a party to any litigation or administrative 
proceeding. Applicant is neither engaged in nor proposes to engage in 
any business activities other than those necessary for the winding-up 
of its affairs.
    7. Applicant is current with respect to all filings required under 
the Act, including N-SAR filings for each semi-annual period for which 
such filing is required.
    8. Applicant intends to file all documents required to terminate 
its existence as a Maryland corporation.

    For the SEC, by the Division of Investment Management, under 
delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-13115 Filed 5-27-94; 8:45 am]
BILLING CODE 8010-01-M