-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GINmn+O9vgRlycfLxC73u0Xbvtzo6DYATIv3KDfGTzVIfJh83DrLNWTo+t/Y1woY 028KNhyrNXv2EePRoKb4AA== 0000717316-10-000052.txt : 20100416 0000717316-10-000052.hdr.sgml : 20100416 20100416104205 ACCESSION NUMBER: 0000717316-10-000052 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100416 DATE AS OF CHANGE: 20100416 EFFECTIVENESS DATE: 20100416 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY CALIFORNIA TAX FREE & MUNICIPAL FUNDS CENTRAL INDEX KEY: 0000717316 IRS NUMBER: 946562826 STATE OF INCORPORATION: MA FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-03706 FILM NUMBER: 10753736 BUSINESS ADDRESS: STREET 1: 1665 CHARLESTON RD CITY: MOUNTAIN VIEW STATE: CA ZIP: 94043 BUSINESS PHONE: 8003218321 MAIL ADDRESS: STREET 1: 1665 CHARLESTON RD CITY: MOUNTAIN VIEW STATE: CA ZIP: 94043 FORMER COMPANY: FORMER CONFORMED NAME: BENHAM CALIFORNIA TAX FREE TRUST / DATE OF NAME CHANGE: 19960815 FORMER COMPANY: FORMER CONFORMED NAME: BENHAM CALIFORNIA TAX FREE & MUNICIPAL FUNDS DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: BENHAM CALIFORNIA TAX FREE TRUST DATE OF NAME CHANGE: 19910218 0000717316 S000005667 CALIFORNIA HIGH-YIELD MUNICIPAL FUND C000015521 INVESTOR CLASS BCHYX C000015522 A CLASS CAYAX C000015523 B CLASS CAYBX C000015524 C CLASS CAYCX C000087984 INSTITUTIONAL CLASS BCHIX 0000717316 S000005668 CALIFORNIA TAX-FREE BOND FUND C000015525 INVESTOR CLASS BCITX C000087985 INSTITUTIONAL CLASS BCTIX C000087986 A CLASS BCIAX C000087987 C CLASS BCIYX 0000717316 S000005670 CALIFORNIA LONG-TERM TAX-FREE FUND C000015527 INVESTOR CLASS BCLTX C000055489 A CLASS ALTAX C000055490 B CLASS ALQBX C000055491 C CLASS ALTCX C000087988 INSTITUTIONAL CLASS BCLIX 0000717316 S000005671 CALIFORNIA TAX-FREE MONEY MARKET FUND C000015528 INVESTOR CLASS BCTXX DEFA14A 1 defa14a-16apr10.htm DEFINITIVE ADDITIONAL MATERIALS defa14a-16apr10.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No.          )

Filed by the Registrant
T
Filed by a Party other than the Registrant
£

Check the appropriate box:

£
Preliminary Proxy Statement
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
£
Definitive Proxy Statement
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Definitive Additional Materials
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Soliciting Materials Pursuant to §240.14a-12


AMERICAN CENTURY CALIFORNIA TAX-FREE AND MUNICIPAL FUNDS
(Name of Registrant as Specified In Its Charter)

 
(Name of Person(s) Filing Proxy Statement, if other than the Registrant

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Title of each class of securities to which transaction applies:
   
   
 
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Fee paid previously with preliminary materials.
   
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Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously.  Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
   
 
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Connect Article
(sidebar)

Vote your shares
We encourage employees, who are shareholders, to read their proxy statement for more details and vote early. Simply vote online <link 1>. All you need is your control number, sent via postal service or email, to cast your vote. Voting early helps us avoid the cost of reminder mailings.

Important proposals need your vote
Earlier this year, as part of a long-established succession plan, company Founder Jim Stowers Jr. passed the reins of trusteeship to Richard W. Brown, co-chairman of American Century Investments and Mr. Stowers’ long-time confidant. This change in trustee automatically terminated our investment management agreements and requires a proxy vote to put new investment management contracts in place.

What to expect
If you owned shares in any American Century Investments fund on March 19, 2010, you will receive proxy voting materials seeking approval on several items. Almost 3 million proxies will be sent to investors in all channels. Most of the mailing will be completed by April 17. Shareholders have until the shareholder meeting, June 16, 2010, to cast their vote. However, voting early helps us avoid costly reminders.

Understand the proposals

Depending on what funds they hold, investors may be asked to vote on:

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New investment management agreements
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New subadvisory agreements for subadvised funds
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The election of John R. Whitten to the Kansas City Board of Directors
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The election of Frederick L.A. Grauer to the Mountain View Board
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An amendment to corporate charter documents for certain funds to increase consistency across the fund complex

“It’s important to understand that we’re asking shareholders to approve new agreements that are substantially identical to the terminated agreements,” explains Associate General Counsel Brian Brogan.

“Herculean” effort
The proxy process began in mid-February and has involved multiple areas of the company. One area that’s been critically involved is our Legal department. Under Brian’s direction, a team has worked ‘round-the-clock to get the proxies ready for shareholder voting.

“The Legal team accomplished a herculean feat in getting the proxies on file with the SEC in a very compressed time frame,” Brian says. “They contributed many a late night researching the legal requirements; compiling and checking data; drafting, reviewing, revising and filing the proxies and related materials; resolving SEC comments; and securing the required fund board approvals. At this point, they could probably use a hug,” he quipped.

Client Communications Program Manager Beth Allwood leads the overall project along with managing the communications. In addition, the Vendor Systems & Support team, under the direction of Jim Newman, has played a critical role. They’ve been involved with validating the integrity of the shareholder data, monitoring the mailing and partnering with our IT department to track votes.

On another front, Beth worked with Direct’s Kathleen Ehrlich to make sure investment consultants were armed with necessary talking points <link to pdf> during a time when reps deal with an already heavy call-volume due to tax season.

“As was the case in our last company-wide proxy, working as a team is key to the success of the campaign. The team has overcome the shortened lead time by focusing their efforts and compressing tasks – this proxy has become job No. 1 for many around the company,” Beth remarks.

Link 1: https://www.americancentury.com/funds/american_century_proxy_2010.jsp
Link 2:
http://sharepoint/team/cps/NPTF/Shared%20Documents/Mgmt%20Agmt_Director%20Election%20Proxy_2010_Talking%20Points_04.5.10.pdf
 
 
 
 
 
 
Investor Perspective Article
 
An unwavering focus and vision

Our founder, James E. Stowers, Jr. believes “The Best is Yet to Be.” This philosophy shines through in the cover story Investment Strategies for Challenging Times where we look at ways to help you protect your assets for the years ahead.

Another example of Mr. Stowers’ focus on the future is evident in his carefully crafted plans for the business he began in 1958. Earlier this year, as part of a long-established succession plan, Mr. Stowers, who is 86, passed the reins of trusteeship to Richard W. Brown, co-chairman of American Century Investments® and long-time confidant.

Although the transition triggers a shareholder vote, Mr. Brown has made it clear the shift in control will continue the vision, values and plans that Mr. Stowers put into motion.

For clients invested on March 19, 2010, you should have already received your voting materials. Please review the proposals and vote. Call our proxy consultant (Broadridge) at 1-866-450-8467 if you have any questions. Your vote counts!
 
 
 
 
 

American Century Draft Proxy Lite Script
 
Reminder Sample  4/26/2010
 
Announcement Number: 10807
 

 

 
Hello.  This is a quick reminder that the American Century Investments Special Meeting of Shareholders will be held on June 16th, 2010 and we have not yet received your proxy vote.
 
 
We have sent you another proxy card and encourage you to vote as soon as you receive it.
 
 
You can vote by mail, by phone or on the internet. Your proxy card has instructions for each method. If you would like to cast your vote by phone, or if you have any questions, please call 1-866-450-8467, to speak with a Proxy Voting Specialist. They are available Monday through Friday, 9:30 AM to 9:00 PM and Saturday 10:00 AM to 6:00 PM Eastern Time. Voting takes just a few moments and will benefit all shareholders.
 
Your vote is extremely important, no matter how large or small your holdings. Thank you for your prompt attention to this matter and for investing with American Century Investments.



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