Exhibit 17



KNOW ALL PERSONS BY THESE  PRESENTS  that the  undersigned  shareholders  of the
Riggs Short Term Tax Free Bond Fund (the  "Fund"),  a  portfolio  of Riggs Funds
(the  "Trust"),  hereby  appoint C. Grant  Anderson,  Amy M.  Bredl,  Maureen A.
Ferguson,  Ann M.  Faust and  William  Haas or any one of them,  true and lawful
attorneys,  with the power of  substitution  of each,  to vote all shares of the
Fund  which the  undersigned  is  entitled  to vote at the  Special  Meeting  of
Shareholders  (the "Special  Meeting") to be held on September 24, 2003, at 5800
Corporate Drive, Pittsburgh,  Pennsylvania, at 2:00 p.m., and at any adjournment
thereof.

The attorneys named will vote the shares represented by this proxy in accordance
with the choices made on this ballot.  If no choice is indicated as to the item,
this proxy will be voted affirmatively on the matter. Discretionary authority is
hereby conferred as to all other matters as may properly come before the Special
Meeting or any adjournment thereof.

THIS PROXY IS  SOLICITED  ON BEHALF OF THE BOARD OF TRUSTEES OF THE TRUST.  THIS
PROXY,  WHEN  PROPERLY  EXECUTED,  WILL BE VOTED IN THE MANNER  DIRECTED  BY THE
UNDERSIGNED SHAREHOLDER. IF NO DIRECTION IS MADE, THIS PROXY WILL BE VOTED "FOR"
THE PROPOSAL.

PROPOSAL:   To  approve  or   disapprove  a  proposed   agreement  and  plan  of
reorganization  pursuant to which  Federated  Short-Term  Municipal  Trust would
acquire all of the assets of Riggs Short Term Tax Free Bond Fund in exchange for
Institutional  Service  Shares of  Federated  Short-Term  Municipal  Trust to be
distributed pro rata by Riggs Short Term Tax Free Bond Fund.



   FOR            [   ]

   AGAINST        [   ]

   ABSTAIN        [   ]




                             YOUR VOTE IS IMPORTANT

              Please complete, sign and return this card as soon as
                        possible.



                                                Dated



                                                Signature




Please sign this proxy  exactly as your name  appears on the books of the Trust.
Joint owners should each sign personally.  Trustees and other fiduciaries should
indicate the capacity in which they sign,  and where more than one name appears,
a majority  must sign. If a  corporation,  this  signature  should be that of an
authorized officer who should state his or her title.