The Trust seeks to provide current income that is exempt from regular Federal income tax and to invest in municipal bonds that over time will perfrom better than the braoder municipal bond market. The Trust will invest primarily in municipal bonds that pay interest that is exempt from regular Federal income tax. The Trust will invest at least 80% of its total assets in municipal bonds that at the time of investment are investment grade quality. The Trust intends to invest primarily in long-term bonds and expects bonds in its portfolio to have a dollar weighted average maturity of 15 years or more under current market conditions. The Trust may not attain its investment objectives.