UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                         ______________________________
                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported): October 17, 2005



                       Structured Obligations Corporation

             (Exact name of registrant as specified in its charter)


Delaware                                 001-32013              13-3741177
(State or other jurisdiction of          (Commission File     (IRS Employer
incorporation or organization)           Number)              Identification Number)

           270 Park Avenue, New York, New York                   10013
           (Address of principal executive offices)               (Zip Code)
           Registrant's telephone number including area code (212) 834-6000.

         Check the appropriate box below if the Form 8-K filing is intended to
         simultaneously satisfy the filing obligation of the registrant under
         any of the following provisions:

          []   Written communications pursuant to Rule 425 under the Securities
               Act (17CFR 230.425)

          []   Soliciting material pursuant to Rule 14a-12 under the Exchange
               Act (17CFR 240.14a-12)

          []   Pre-commencement communications pursuant to Rule 14d-2(b) under
               the Exchange Act (17CFR 240.14d-2(b))

          []   Pre-commencement communications pursuant to Rule 13e-4(c) under
               the Exchange Act (17CFR 240.13e-4(c))

Section 8 -  Other Events

Item 8.01 Other Events.

         This current report on Form 8-K relates to a distribution made to
         holders of the Certificates issued by the Select Notes Trust LT 2003-3.

         Each issuer of an underlying security, or guarantor thereof, or
         successor thereto, as applicable, which represents ten percent (10%) or
         more of the aggregate principal amount of all securities held by the
         trust is subject to the information reporting requirements of the
         Securities Exchange Act of 1934, as amended (the "Exchange Act").
         Periodic reports and other information required to be filed pursuant to
         the Exchange Act, by an issuer of an underlying security, or guarantor
         thereof, or successor thereto, as applicable, may be inspected and
         copied at the public reference facilities maintained by the Securities
         and Exchange Commission (the "Commission") at 450 Fifth Street, N.W.,
         Washington, D.C. 20549. The Commission also maintains a site on the
         World Wide Web at "http://www.sec.gov" at which users can view and
         download copies of reports, proxy and information statements and other
         information filed electronically through the Electronic Data Gathering,
         Analysis and Retrieval system. Neither Structured Obligations
         Corporation nor the trustee has participated in the preparation of such
         reporting documents, or made any due diligence investigation with
         respect to the information provided therein. Neither Structured
         Obligations Corporation nor the trustee has verified the accuracy or
         completeness of such documents or reports. There can be no assurance
         that events affecting an issuer of an underlying security, or guarantor
         thereof, or successor thereto, as applicable, or an underlying security
         have not occurred or have not yet been publicly disclosed which would
         affect the accuracy or completeness of the publicly available documents
         described above.



Section 9- Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

     (c)  Exhibits:

          1.   Trustee's Report with respect to the October 17, 2005
               Distribution Date for the Select Notes Trust LT 2003-3



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                                   SIGNATURES




     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.





                                      By:  /s/ Chadwick S. Parson               
                                           Name:   Chadwick S. Parson
                                           Title:  Authorized Signatory





















October 25, 2005



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EXHIBIT INDEX


Exhibit                                                                     Page

   1        Trustee's Report with respect to the October 17, 2005             5
            Distribution Date for the Select Notes Trust LT 2003-3





















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                                    Exhibit 1

To the Holders of:
Select Notes Trust LT 2003-3
Long Term Certificates  Series 2003-3
*CUSIP:  81619PAC1

U.S. Bank Trust National Association, as Trustee for the Select Notes Trust LT
2003-3 (the "Trust"), hereby gives notice with respect to Interest Period
commencing on the day after September 15, 2005 to and including the October 17,
2005 (the "Interest Period") in respect of the October 17, 2005 Interest
Distribution Date (the "Interest Distribution Date") as follows:

1.   The amount of interest received by the Trust during the Interest Period is
     as set forth below (each Certificate holder's pro rata portion of this
     amount is the amount to be included in such Certificate holder's Form
     1099).

                                      $0.00

     a.   Per certificate held amount of interest income to be included in Form
          1099 for the year ending December 31, 2005 is set forth below.

                                     $ 0.00

2.   The total of all interest distributed to Certificate holders during the
     Interest Period is set forth below.

                                   $169,020.00

3.   Total amount of advances made to the Trustee on the Interest Distribution
     Date is

                                  $ 169,021.00


4.   The total amount of advances repaid to the Advancing Party during the
     Interest Period is

                                     $ 0.00

5.   The net total of advances made during the Interest Period is

                                  $ 169,021.00

     a.   The net amount owed by the Trust to the Advancing Party as of the
          Close of business on the Interest Distribution Date is set forth
          below.

                                  $ 479,039.00

6.   The total amount of interest expense paid to the Advancing Party on the
     Interest Distribution Date is set forth below (each Certificate holders pro
     rata portion of this amount should be included in a footnote to such
     Certificate holder's Form 1099 indicating that such amount should
     constitute investment indebtedness interest, which can be deducted by
     non-corporate taxpayers to the extent of such net investment income).

                                   $ 12.500.00

     a.   Per certificate held amount of interest expense to be included in Form
          1099 for the year ending December 31, 2005 is set forth below.

                                   $ 0.3516174

7.   At the close of business on the Interest Distribution Date, there were
     35,550 Certificates outstanding.

8.   Payments made on Underlying Securities during the Interest period are as
     set forth below.

                                      None

U.S. Bank Trust National Association, as Trustee

*The Trustee shall not be held responsible for the selection or use of the CUSIP
number nor is any representation made as to its correctness. It is included
solely for the convenience of the Holders.




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