<SEC-DOCUMENT>0001752724-19-004398.txt : 20190212
<SEC-HEADER>0001752724-19-004398.hdr.sgml : 20190212
<ACCEPTANCE-DATETIME>20190212162427
ACCESSION NUMBER:		0001752724-19-004398
CONFORMED SUBMISSION TYPE:	N-CEN
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20181130
FILED AS OF DATE:		20190212
DATE AS OF CHANGE:		20190212
EFFECTIVENESS DATE:		20190212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MFS HIGH YIELD MUNICIPAL TRUST
		CENTRAL INDEX KEY:			0000809844
		IRS NUMBER:				042950868
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		N-CEN
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04992
		FILM NUMBER:		19591183

	BUSINESS ADDRESS:	
		STREET 1:		111 HUNTINGTON AVENUE
		STREET 2:		24TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199
		BUSINESS PHONE:		617-954-5000

	MAIL ADDRESS:	
		STREET 1:		111 HUNTINGTON AVENUE
		STREET 2:		24TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COLONIAL MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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          <principalTransaction>
            <principalName>BB&amp;T Securities, LLC</principalName>
            <principalFileNo>8-67486</principalFileNo>
            <principalCrdNo>000142785</principalCrdNo>
            <principalLei>2549000IB2PRJ20M2Q93</principalLei>
            <principalStateCountry principalState="US-VA" principalCountry="US"/>
            <principalTotalPurchaseSale>1298918.10000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>50775014.67000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>135354632.84000000</mnthlyAvgNetAssets>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <closedEndManagementInvestment>
      <securityRelatedItems>
        <securityRelatedItem>
          <description>Preferred stock</description>
          <securityClassTitle>Variable Rate Municipal Term Preferred Shares</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="N/A" commonStockTickerSymbol="N/A"/>
          </commonStocks>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>MFS High Yield Municipal Trust</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="CMU"/>
          </commonStocks>
        </securityRelatedItem>
      </securityRelatedItems>
      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <isRepurchaseSecurity>N</isRepurchaseSecurity>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>Y</isSecuritiesModified>
      <managementFee>1.01000000</managementFee>
      <netOperatingExpenses>2.69000000</netOperatingExpenses>
      <marketPricePerShare>4.22000000</marketPricePerShare>
      <netAssetValuePerShare>4.67000000</netAssetValuePerShare>
    </closedEndManagementInvestment>
    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isMaterialAmendments>true</isMaterialAmendments>
      <isInstDefiningRights>true</isInstDefiningRights>
    </attachmentsTab>
    <signature registrantSignedName="MFS HIGH YIELD MUNICIPAL TRUST" signedDate="2019-02-11" signature="Kasey Phillips" title="Assistant Treasurer"/>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>MATERIAL AMENDMENTS
<SEQUENCE>2
<FILENAME>NCEN_6866787140367715.txt
<TEXT>

 Please see amendment to Variable Rate Municipal
Term Preferred Shares for the Trust attached hereto as
EX-99.G.1.b.ii.






</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>3
<FILENAME>NCEN_7393682176079689.txt
<TEXT>
Report of Independent Registered Public Accounting
Firm

To the Shareholders and
Board of Trustees of MFS High Yield Municipal Trust

In planning and performing our audit of the financial
statements of MFS High Yield Municipal Trust (the
"Fund") as of and for the year ended November 30,
2018, in accordance with the standards of the Public
Company Accounting Oversight Board (United States),
we considered the Fund's internal control over financial
reporting, including controls over safeguarding
securities, as a basis for designing our auditing
procedures for the purpose of expressing our opinion
on the financial statements and to comply with the
requirements of Form N-CEN, but not for the purpose of
expressing an opinion on the effectiveness of the Fund's
internal control over financial reporting. Accordingly,
we express no such opinion.
The management of the Fund is responsible for
establishing and maintaining effective internal control
over financial reporting. In fulfilling this responsibility,
estimates and judgments by management are required
to assess the expected benefits and related costs of
controls. A company's internal control over financial
reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting
and the preparation of financial statements for external
purposes in accordance with U.S. generally accepted
accounting principles. A company's internal control over
financial reporting includes those policies and
procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of
the company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit
preparation of financial statements in accordance with
U.S. generally accepted accounting principles, and that
receipts and expenditures of the company are being
made only in accordance with authorizations of
management and directors of the company; and (3)
provide reasonable assurance regarding prevention or
timely detection of unauthorized acquisition, use or
disposition of a company's assets that could have a
material effect on the financial statements.
Because of its inherent limitations, internal control over
financial reporting may not prevent or detect
misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk
that controls may become inadequate because of
changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.
A deficiency in internal control over financial reporting
exists when the design or operation of a control does
not allow management or employees, in the normal
course of performing their assigned functions, to
prevent or detect misstatements on a timely basis. A
material weakness is a deficiency, or a combination of
deficiencies, in internal control over financial reporting,
such that there is a reasonable possibility that a
material misstatement of the company's annual or
interim financial statements will not be prevented or
detected on a timely basis.
Our consideration of the Fund's internal control over
financial reporting was for the limited purpose
described in the first paragraph and would not
necessarily disclose all deficiencies in internal control
that might be material weaknesses under standards
established by the Public Company Accounting
Oversight Board (United States). However, we noted no
deficiencies in the Fund's internal control over financial
reporting and its operation, including controls over
safeguarding securities, that we consider to be a
material weakness as defined above as of November 30,
2018.
This report is intended solely for the information and
use of management and the Board of Trustees of MFS
High Yield Municipal Trust and the Securities and
Exchange Commission and is not intended to be and
should not be used by anyone other than these
specified parties.

       /
s
/

E
r
n
s
t

&

Y
o
u
n
g

L
L
P
Boston, Massachusetts
January 17, 2019





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INST DEFINING RIGHTS
<SEQUENCE>4
<FILENAME>NCEN_6867190839170641.txt
<TEXT>

The Statement Establishing and Fixing the Rights and
Preferences of Variable Rate Municipal Term Preferred
Shares for the Trust, initially dated as of September 12,
2012 as amended and restated as of March 24, 2016,
together with an Appendix B thereto dated March 24,
2016, has been amended by First Amendment to
Statement Establishing and Fixing the Rights and
Preferences of Variable Rate Municipal Term Preferred
Shares, dated October 9, 2018, to extend the term
redemption date of April 1, 2019 to October 31, 2021
and to make certain other changes. The amendment is
attached hereto as EX-99.G.1.b.ii.




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INST DEFINING RIGHTS
<SEQUENCE>5
<FILENAME>NCEN_6849944867664874.txt
<TEXT>
EX-99.G.1.b.ii
MFS HIGH YIELD MUNICIPAL TRUST
FIRST AMENDMENT TO STATEMENT ESTABLISHING AND
FIXING THE RIGHTS AND PREFERENCES OF VARIABLE
RATE MUNICIPAL TERM PREFERRED SHARES
WHEREAS, MFS High Yield Municipal Trust (the "Trust")
established a Series of Variable Rate Municipal Term
Preferred Shares designated as the "Variable Rate
Municipal Term Preferred Shares, Series 2019/3" (the
"Series 2019/3 VMTP Shares") pursuant to the
Statement Establishing and Fixing the Rights and
Preferences of Variable Rate Municipal Term Preferred
Shares, initially dated as of September 12, 2012 and
amended and restated as of March 24, 2016 (the
"VMTP Statement"), together with that certain
Appendix B thereto dated March 24, 2016 (the
"Appendix");
WHEREAS, the Series 2019/3 VMTP Shares have a Term
Redemption Date of April 1, 2019; and
WHEREAS, the Board of Trustees of the Trust has
approved, and the sole Designated Owner of the Series
2019/3 VMTP Shares has consented to, the amendment
of the Appendix to extend the term of the Series 2019/3
VMTP Shares and the amendment of the VMTP
Statement, each as provided herein.
Capitalized terms used but not defined herein have the
respective meanings therefor set forth in the VMTP
Statement.
Section 1. Amendments.
Section 2.11(b) of the VMTP Statement is hereby
amended by deleting such section in its entirety and
replacing it with the following new Section 2.11(b):
(b) The Market Value of the Deposit Securities held in
the Term Redemption Liquidity Account for a Series of
VMTP Shares, from and after the day (or, if such day is
not a Business Day, the next succeeding Business Day)
that is the number of calendar days preceding the Term
Redemption Date for such Series, in each case as
specified in the table set forth below, shall not be less
than the percentage of the Term Redemption Amount
for such Series set forth below opposite such number of
days (the "Liquidity Requirement"), but in all cases
subject to the provisions of Section 2.11(c) below:
Number of Calendar Days Preceding the Term
Redemption Date
Market Value of Deposit Securities as a Percentage of
Term Redemption Amount
45
33%
30
66%
15
100%
NAI-1504312732v2
Section 5 of the Appendix is hereby amended by
deleting such section in its entirety and replacing it with
the following new Section 5:
"Section 5. Term Redemption Date Applicable to Series.
The Term Redemption Date is October 31, 2021, subject
to extension pursuant to Section 2.5(a) of the VMTP
Statement."
Section 7 of the Appendix is hereby amended by
deleting such section in its entirety and replacing it with
the following new Section 7:
"Section 7. Liquidity Account Initial Date Applicable to
Series.
The Liquidity Account Initial Date is August 31, 2021 or,
if applicable, the date that is two months prior to the
Term Redemption Date as extended pursuant to Section
2.5(a) of the VMTP Statement or, if such date is not a
Business Day, the Business Day immediately preceding
such date."
Section 2. Additional Provisions.
Except as specifically set forth in Section 1 hereof, the
Appendix and the VMTP Statement remain unmodified
and continue in full force and effect.
This Amendment shall be effective as of October 9,
2018.
IN WITNESS WHEREOF, MFS High Yield Municipal Trust
has caused this Amendment to be signed on October 9,
2018 in its name and on its behalf by a duly authorized
officer. The Declaration of Trust of the Trust is on file
with the Secretary of the Commonwealth of
Massachusetts, and the said officer of the Trust has
executed this Amendment as an officer and not
individually, and the obligations and rights set forth in
this Amendment are not binding upon any such officer,
or the trustees of the Trust or any shareholder of the
Trust, individually, but are binding only upon the assets
and property of the Trust.
MFS HIGH YIELD MUNICIPAL TRUST
By: /s/James Yost
Name: James Yost
Title: Treasurer





</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
