Item 1.
Business
Not Applicable
Item 1A.
Item 1A.
Risk Factors
Not Applicable
Item 1B.
Item 1B.
Unresolved Staff Comments
Not Applicable
Item 2.
Item 2.
Properties
Not Applicable
Item 3.
Item 3.
Legal Proceedings
The Registrant is not subject to any material pending legal proceedings.
Item 4.
Item 4.
Submission of Matters To A Vote of Security Holders
None
PART II
Item 5.
Item 5.
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchaser of Equity Securities
The Certificates issued by and representing investors’ interest in the Select Notes Trust LT 2003-1 (the “Trust”) are represented by one or more physical Certificates registered in the name of “Cede & Co., the nominee of The Depository Trust Company.
The following Certificates are listed on the exchange identified below:
Title of Each Class
Name of Each Exchange on Which Registered
Select Notes Trust Long Term Certificates, Series 2003-1
American Stock Exchange
Item 6.
Item 6.
Selected Financial Data
Not Applicable
Item 7.
Item 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
Not Applicable
Item 7A.
Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Not Applicable
Item 8.
Item 8.
Financial Statements and Supplementary Data
None
Item 9.
Item 9.
Changes In and Disagreements With Accountants on Accounting and Financial Disclosure
None
Item 9A.
Item 9A.
Controls and Procedures
Not Applicable
Item 9B.
Item 9B.
Other Information
Not Applicable
PART III
Item 10.
Item 10.
Directors and Executive Officers of the Registrant
None
Item 11.
Item 11.
Executive Compensation
Not Applicable
Item 12.
Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Information required by Item 201(d) of Regulation S-X: Not Applicable
Information required by Item 403 of Regulation S-X: None
Item 13.
Item 13.
Certain Relationships and Related Transactions
None
Item 14.
Item 14.
Principal Accountant Fees and Services
Not Applicable
PART IV
(b) The Form 8-Ks of the Select Notes Trust LT 2003-1 (the “Trust”) which relate to periods covered by this annual report include (i) the Trust’s Current Report on Form 8-K for the distribution date occurring on January 18, 2005 and filed on January 25, 2005, (ii) the Trust’s Current Report on Form 8-K for the distribution date occurring on February 15, 2005 and filed on March 1, 2005, (iii) the Trust’s Current Report on Form 8-K for the distribution date occurring on March 15, 2005 and filed on March 30, 2005, (iv) the Trust’s Current Report on Form 8-K for the distribution date occurring on April 15, 2005 and filed on April 29, 2005, (v) the Trust’s Current Report on Form 8-K for the distribution date occurring on May 16, 2005 and filed on May 25, 2005, (vi) the Trust’s Current Report on Form 8-K for the distribution date occurring on June 15, 2005 and filed on June 29, 2005, (vii) the Trust’s Current Report on Form 8-K for the distribution date occurring on July 15, 2005 and filed on July 27, 2005, (viii) the Trust’s Current Report on Form 8-K for the distribution date occurring on August 15, 2005 and filed on August 30, 2005, (ix) the Trust’s Current Report on Form 8-K for the distribution date occurring on September 15, 2005 and filed on September 29, 2005, (x) the Trust’s Current Report on Form 8-K for the distribution
date occurring on October 17, 2005 and filed on October 27, 2005, (xi) the Trust’s Current Report on Form 8-K for the distribution date occurring on November 15, 2005 and filed on November 29, 2005, and (xii) the Trust’s Current Report on Form 8-K for the distribution date occurring on December 15, 2005 and filed on December 30, 2005.
(c) See Item 15(a) above.
(d) Not Applicable.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
STRUCTURED OBLIGATIONS CORPORATION,
as trustor for the Trust Registrant
By: /s/ Chadwick S. Parson
Name: Chadwick S. Parson
Title: President
Dated: March 30, 2006
Exhibit 31.1
CERTIFICATION
I, Chadwick S. Parson, certify that:
1. I have reviewed this annual report on Form 10-K, and all reports on Form 8-K containing distribution or servicing reports filed in respect of periods included in the year covered by this annual report, of the Select Notes Trust LT 2003-1;
2. Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report;
3. Based on my knowledge, the distribution or servicing information required to be provided to the depositor by the trustee under the pooling and servicing, or similar, agreement, for inclusion in these reports is included in these reports;
4. I am responsible for reviewing the activities performed by the depositor and the trustee under the pooling and servicing, or similar, agreement and based upon my knowledge and the annual compliance review required under that agreement, and except as disclosed in the reports, the depositor and the trustee have each fulfilled its obligations under that agreement.
In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties: U.S. Bank Trust National Association.
By: /s/ Chadwick S. Parson
--------------------------------
Name: Chadwick S. Parson
Title: President
Structured Obligations Corporation
Date: March 30, 2006
Exhibit 99.1
CERTIFICATION
The undersigned, being an officer of U.S. Bank Trust National Association, as trustee (the “Trustee”) of the Select Notes Trust LT 2003-1 (the “Trust”) hereby makes the following certifications for inclusion as an exhibit to the Trust’s annual report on Form 10-K for the fiscal year ended December 31, 2005 (the “Annual Report”):
1.
The Trustee is the trustee under the Trust’s trust agreement.
2.
Based on my knowledge, for the period covered by the Annual Report, the Trustee has fulfilled its obligations under the Trust’s trust agreement.
/s/ Beverly A. Freeney
Name: Beverly A. Freeney
Title: Vice President
Date: March 30, 2006