Securities and Exchange Commission May 1, 2014 – Federal Register Recent Federal Regulation Documents

Applicant seeks an order declaring that it has ceased to be an investment company. Applicant transferred its assets to Vanguard Long-Term Tax-Exempt Fund, a series of Vanguard Municipal Bond Funds, and on July 26, 2013, made a distribution to its shareholders based on net asset value. Expenses of approximately $28,356 incurred in connection with the reorganization were paid by applicant. Filing Date: The application was filed on March 31, 2014. Applicant's Address: P.O. Box 876, Valley Forge, PA 19482.