0000791049-17-000052.txt : 20170803 0000791049-17-000052.hdr.sgml : 20170803 20170803134131 ACCESSION NUMBER: 0000791049-17-000052 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20170803 DATE AS OF CHANGE: 20170803 EFFECTIVENESS DATE: 20170803 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: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 033-04382 FILM NUMBER: 171004198 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 0000791049 S000006648 AQUILA TAX-FREE TRUST OF OREGON C000018137 Class A ORTFX C000018138 Class C ORTCX C000018140 Class Y ORTYX C000188797 Class F C000188798 Class T 497K 1 or497k17st1.htm SUPPLEMENT TO THE SUMMARY PROSPECTUS - ATFTO
The Cascades Trust
Aquila Tax-Free Trust of Oregon

Supplement dated July 25, 2017
to the Summary Prospectus, Prospectus and Statement of Additional Information
dated July 25, 2017

Effective September 1, 2017, shareholders who purchase in excess of $250,000 of Class A shares in a single purchase will not pay a front-end sales charge, but may be subject to a contingent deferred sales charge on the redemption of those shares under certain circumstances.  Accordingly, effective September 1, 2017, the following disclosure replaces anything to the contrary in the Summary Prospectus, Prospectus and Statement of Additional Information:

Sales Charges – Class A Shares
Effective September 1, 2017, a “single purchaser” will pay a sales charge based on the value at the time of purchase of his or her aggregate holdings of shares of any class of any of the funds in the Aquila Group of Funds in accordance with the following table:
I
Amount of Purchase Plus Value of All Other
Shares Held By a Single Purchaser
II
Sales Charge as Percentage of Public Offering Price
III
Sales Charge as Approximate Percentage of Net Amount Invested
     
Less than $25,000
4.00%
4.17%
$25,000 but less than $50,000
3.75%
3.90%
$50,000 but less than $100,000
3.50%
3.63%
$100,000 but less than $250,000
3.25%
3.36%
     
Sales Charges for Purchases of $250,000 or More
Effective September 1, 2017, a shareholder will not pay a sales charge at the time of purchase when he or she purchases “CDSC Class A Shares.” CDSC Class A Shares are: (i) Class A Shares issued in a single purchase of $250,000 or more by a single purchaser; and (ii) Class A Shares issued when the value of the purchase, together with the value of shares of the Trust or any other fund in the Aquila Group of Funds that are owned by the purchaser, is $250,000 or more.

Redemption of CDSC Class A Shares
Effective September 1, 2017, the CDSC payable on redemptions of CDSC Class A Shares will be calculated according to the following table:

 
CDSC Rate on Shares Redeemed
 
Value of All Aquila Fund Shares (with the exception of Class T Shares) at Time Shares Being Redeemed were Originally Purchased
 
During First Two Years After Purchase
 
During Third and Fourth Years After Purchase
$250,000 and up to $2.5 million
 
1%
0.50%
Over $2.5 million and up to $5 million
 
0.50% on shares redeemed in year 1
0.25% on shares redeemed in year 2
None
 
Over $5 million
 
None
None

 
 
 
ORPS-0717