The investment seeks to provide the investors as high a level of current income exempt from Kentucky state and regular Federal income taxes as is consistent with preservation of capital.
Under normal circumstances, at least 80% of the fund's net assets will be invested in municipal obligations that pay interest exempt, in the opinion of bond counsel, from Kentucky income and regular Federal income taxes, the income paid upon which will not be subject to the Federal alternative minimum tax on individuals. These obligations can be of any maturity, but the fund's average portfolio maturity has traditionally been between 10 and 15 years. It is non-diversified.
Links:  http://www.globalfunddata.com/funds/new/performance/management?variant=Aquila
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 http://www.globalfunddata.com/funds/new/performance/fund_administrator?variant=Aquila Investment Management LLC
 http://www.globalfunddata.com/funds/new/performance/strategy?variant=Muni Single State Interm
 http://www.globalfunddata.com/funds/new/performance/structure?variant=Open Ended Investment Company
 http://www.globalfunddata.com/funds/new/performance/city?variant=New York___United States
 http://www.globalfunddata.com/funds/new/performance/country?variant=United States
 http://www.globalfunddata.com/funds/new/performance/custodian?variant=J. P. Morgan Chase Bank, N.A.
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