Under normal circumstances, the Fund seeks to achieve its objective by investing at least 80 percent of its assets in municipal bonds. This policy is a fundamental policy of the Fund and may not be changed without the approval of a majority of the Funds outstanding voting securities, as defined in the Investment Company Act of 1940, as amended (the 1940 Act). Municipal bonds include debt obligations issued by or on behalf of a governmental entity or other qualifying issuer that pay interest that is, in the opinion of bond counsel to the issuer, generally excludable from gross income for federal income tax purposes (except that the interest may be includable in taxable income for purposes of the federal alternative minimum tax (AMT)). Municipal bonds may be obligations of a variety of issuers, including governmental entities or other qualifying issuers.