0000784056-20-000033.txt : 20200330 0000784056-20-000033.hdr.sgml : 20200330 20200330081945 ACCESSION NUMBER: 0000784056-20-000033 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200330 DATE AS OF CHANGE: 20200330 EFFECTIVENESS DATE: 20200330 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AQUILA MUNICIPAL TRUST CENTRAL INDEX KEY: 0000784056 IRS NUMBER: 136864349 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-01857 FILM NUMBER: 20754163 BUSINESS ADDRESS: STREET 1: 120 WEST 45TH STREET STREET 2: STE 3600 CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2126976666 MAIL ADDRESS: STREET 1: 120 WEST 45TH STREET STREET 2: SUITE 3600 CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: TAX-FREE TRUST OF ARIZONA DATE OF NAME CHANGE: 20060126 FORMER COMPANY: FORMER CONFORMED NAME: TAX FREE TRUST OF ARIZONA DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AQUILA FUNDS TRUST CENTRAL INDEX KEY: 0000707800 IRS NUMBER: 136818961 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-79722 FILM NUMBER: 20754160 BUSINESS ADDRESS: STREET 1: 120 WEST 45TH STREET STREET 2: SUITE 3600 CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2126976666 MAIL ADDRESS: STREET 1: 120 WEST 45TH STREET STREET 2: SUITE 3600 CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: AQUILA THREE PEAKS HIGH INCOME FUND DATE OF NAME CHANGE: 20060316 FORMER COMPANY: FORMER CONFORMED NAME: PRIME CASH FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HAWAIIAN TAX FREE TRUST CENTRAL INDEX KEY: 0000750909 IRS NUMBER: 136845048 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-92583 FILM NUMBER: 20754161 BUSINESS ADDRESS: STREET 1: 120 WEST 45TH STREET STREET 2: #3600 CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2126976666 MAIL ADDRESS: STREET 1: 120 WEST 45TH STREET STREET 2: #3600 CITY: NEW YORK STATE: NY ZIP: 10036 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CASCADES TRUST CENTRAL INDEX KEY: 0000791049 IRS NUMBER: 136868231 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-04382 FILM NUMBER: 20754162 BUSINESS ADDRESS: STREET 1: 120 WEST 45TH STREET STREET 2: SUITE 3600 CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2126976666 MAIL ADDRESS: STREET 1: 120 WEST 45TH STREET STREET 2: SUITE 3600 CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: TAX FREE TRUST OF OREGON DATE OF NAME CHANGE: 19890810 0000707800 S000009167 AQUILA THREE PEAKS HIGH INCOME FUND C000024922 Aquila Three Peaks High Income Fund Class A ATPAX C000033899 Aquila Three Peaks High Income Fund Class C ATPCX C000033900 Aquila Three Peaks High Income Fund Class I ATIPX C000033901 Aquila Three Peaks High Income Fund Class Y ATPYX C000180479 Aquila Three Peaks High Income Fund Class F ATPFX 0000707800 S000041644 Aquila Three Peaks Opportunity Growth Fund C000129287 Class A ATGAX C000129288 Class C ATGCX C000129289 Class I ATRIX C000129290 Class Y ATGYX C000180481 Class F ATGFX 0000750909 S000009108 HAWAIIAN TAX-FREE TRUST C000024774 HAWAIIAN TAX-FREE TRUST CLASS A HULAX C000024775 HAWAIIAN TAX-FREE TRUST CLASS C HULCX C000024777 HAWAIIAN TAX-FREE TRUST CLASS Y HULYX C000188793 HAWAIIAN TAX-FREE TRUST CLASS F HULFX 0000784056 S000009132 AQUILA TAX-FREE TRUST OF ARIZONA C000024833 Class A AZTFX C000024834 Class C AZTCX C000024836 Class Y AZTYX C000188809 Class F AZFFX 0000784056 S000041640 Aquila Tax-Free Fund of Colorado C000129271 Class A COTFX C000129272 Class C COTCX C000129274 Class Y COTYX C000188811 Class F COFFX 0000784056 S000041641 Aquila Churchill Tax-Free Fund of Kentucky C000129275 Class A CHTFX C000129276 Class C CHKCX C000129277 Class I CHKIX C000129278 Class Y CHKYX C000188813 Class F CHKFX 0000784056 S000041642 Aquila Narragansett Tax-Free Income Fund C000129279 Class C NITCX C000129280 Class I NITIX C000129281 Class Y NITYX C000129282 Class A NITFX C000188815 Class F NIFFX 0000784056 S000041643 Aquila Tax-Free Fund For Utah C000129283 Class A UTAHX C000129284 Class C UTACX C000129286 Class Y UTAYX C000188818 Class F UTAFX 0000791049 S000006648 AQUILA TAX-FREE TRUST OF OREGON C000018137 Class A ORTFX C000018138 Class C ORTCX C000018140 Class Y ORTYX C000188797 Class F ORFFX 497 1 multireg497-3020.htm SUPPLEMENT TO THE PROSPECTUS AND SUMMARY PROSPECTUS
Aquila Funds Trust
Aquila Three Peaks High Income Fund
Aquila Three Peaks Opportunity Growth Fund


Aquila Municipal Trust
Aquila Tax-Free Trust of Arizona
Aquila Tax-Free Fund of Colorado
Aquila Churchill Tax-Free Fund of Kentucky
Aquila Narragansett Tax-Free Income Fund
Aquila Tax-Free Fund For Utah

Hawaiian Tax-Free Trust

The Cascades Trust
Aquila Tax-Free Trust of Oregon

Supplement Dated March 30, 2020
to each Fund’s Summary Prospectus and Prospectus

The following supplements the information under the heading “Principal Risks” in each Fund’s Summary Prospectus and Prospectus:

Recent events.  The respiratory illness COVID-19 caused by a novel coronavirus has resulted in a global pandemic and major disruption to economies and markets around the world, including the United States.  Global financial markets have experienced extreme volatility and severe losses, and trading in many instruments has been disrupted.  Liquidity for many instruments has been greatly reduced for periods of time.  Some interest rates are very low and in some cases yields are negative.  Some sectors of the economy and individual issuers have experienced particularly large losses.  These circumstances may continue for an extended period of time, and may continue to affect adversely the value and/or liquidity of the Fund’s investments.  The ultimate economic fallout from the pandemic, and the long-term impact on economies, markets, industries and individual issuers, are not known.  Governments and central banks, including the Federal Reserve in the U.S., have taken extraordinary and unprecedented actions to support local and global economies and the financial markets.  The impact of these measures, and whether they will be effective to mitigate the economic and market disruption, will not be known for some time.







AQL-COVIDPS-0320