NUVEEN FLAGSHIP MULTISTATE TRUST III
NSAR-A, 1998-02-09
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<PAGE>      PAGE  1
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<PAGE>      PAGE  2
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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074 S000400        0
074 T000400   194638
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074 V020400     0.00
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076  000400     0.00
028 A010500       236
028 A020500        18
028 A030500         0
028 A040500        75
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028 B020500        24
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028 B040500      1255
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028 C020500        18
028 C030500         0
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028 D020500        57
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028 E020500        23
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028 E040500       322
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028 F020500        25
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028 F040500        43
028 G010500      4139
028 G020500       165
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<PAGE>      PAGE  20
029  000500 Y
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033  000500      0
034  000500 Y
035  000500      0
036 A000500 Y
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037  000500 N
038  000500      0
039  000500 N
040  000500 Y
041  000500 Y
042 A000500   0
042 B000500   0
042 C000500   0
042 D000500 100
042 E000500   0
042 F000500   0
042 G000500   0
042 H000500   0
043  000500     14
044  000500      0
049  000500 N
050  000500 N
051  000500 N
052  000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
055 A000500 Y
055 B000500 N
056  000500 N
057  000500 N
058 A000500 N
059  000500 Y
060 A000500 N
060 B000500 N
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062 A000500 Y
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062 C000500   0.0
062 D000500   0.0
062 E000500   0.0
062 F000500   0.0
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062 H000500   0.0
<PAGE>      PAGE  21
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062 J000500   0.0
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062 L000500   0.0
062 M000500   0.0
062 N000500   0.0
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062 P000500   0.0
062 Q000500   0.0
062 R000500   0.0
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063 B000500 11.9
064 A000500 Y
064 B000500 N
071 A000500      5515
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072 Q000500        0
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072 Y000500       43
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<PAGE>      PAGE  22
073 A010500   0.0000
073 A020500   0.0000
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073 C000500   0.0000
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074 D000500    12391
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074 F000500        0
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028 A010600      3267
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<PAGE>      PAGE  23
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033  000600      0
034  000600 Y
035  000600      4
036 A000600 Y
036 B000600      0
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038  000600      0
039  000600 N
040  000600 Y
041  000600 Y
042 A000600   0
042 B000600   0
042 C000600   0
042 D000600 100
042 E000600   0
042 F000600   0
042 G000600   0
042 H000600   0
043  000600    333
044  000600      0
049  000600 N
050  000600 N
051  000600 N
052  000600 N
053 A000600 Y
053 B000600 Y
053 C000600 N
055 A000600 Y
055 B000600 N
<PAGE>      PAGE  24
056  000600 N
057  000600 N
058 A000600 N
059  000600 Y
060 A000600 Y
060 B000600 Y
061  000600     3000
062 A000600 Y
062 B000600   0.0
062 C000600   0.0
062 D000600   0.0
062 E000600   0.0
062 F000600   0.0
062 G000600   0.0
062 H000600   0.0
062 I000600   0.0
062 J000600   0.0
062 K000600   0.0
062 L000600   0.0
062 M000600   0.0
062 N000600   0.0
062 O000600  98.5
062 P000600   0.0
062 Q000600   0.0
062 R000600   0.0
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063 B000600  9.2
064 A000600 Y
064 B000600 N
071 A000600     19912
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<PAGE>      PAGE  25
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073 A010600   0.0000
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<PAGE>      PAGE  26
076  000600     0.00
SIGNATURE   O. WALTER RENFFTLEN                          
TITLE       V. P. & COMPTROLLER 
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the Financial Statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 011
   <NAME> NUVEEN FLAGSHIP ALABAMA MUNICIPAL BOND FUND- CLASS A
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                             JUN-01-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                             6766
<INVESTMENTS-AT-VALUE>                            7103
<RECEIVABLES>                                      114
<ASSETS-OTHER>                                     324
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                    7541
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-PRIOR>                              439
<ACCUMULATED-NII-CURRENT>                            1
<OVERDISTRIBUTION-NII>                               0
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<NET-ASSETS>                                      7198
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      18
<NET-INVESTMENT-INCOME>                            158
<REALIZED-GAINS-CURRENT>                             6
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<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             89
<NUMBER-OF-SHARES-REDEEMED>                        (51)
<SHARES-REINVESTED>                                  7
<NET-CHANGE-IN-ASSETS>                            1957
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                         (14)
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     76
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<PER-SHARE-NII>                                    .26
<PER-SHARE-GAIN-APPREC>                            .33
<PER-SHARE-DIVIDEND>                             (.26)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.45
<EXPENSE-RATIO>                                    .38
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the Financial Statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 012
   <NAME> NUVEEN FLAGSHIP ALABAMA MUNICIPAL BOND FUND- CLASS B
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                             JUN-01-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                             6766
<INVESTMENTS-AT-VALUE>                            7103
<RECEIVABLES>                                      114
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<OTHER-ITEMS-ASSETS>                                 0
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<NET-CHANGE-IN-ASSETS>                            1957
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                         (14)
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<PER-SHARE-DIVIDEND>                             (.23)
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<PER-SHARE-NAV-END>                              10.46
<EXPENSE-RATIO>                                   1.13
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the Financial Statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 013
   <NAME> NUVEEN FLAGSHIP ALABAMA MUNICIPAL BOND FUND- CLASS C
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                             JUN-01-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                             6766
<INVESTMENTS-AT-VALUE>                            7103
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-PRIOR>                               20
<ACCUMULATED-NII-CURRENT>                            1
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            (9)
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                      7198
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  176
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<NET-INVESTMENT-INCOME>                            158
<REALIZED-GAINS-CURRENT>                             6
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<NET-CHANGE-FROM-OPS>                              354
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           20
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            116
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                            1957
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                         (14)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               18
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     76
<AVERAGE-NET-ASSETS>                               957
<PER-SHARE-NAV-BEGIN>                            10.14
<PER-SHARE-NII>                                    .23
<PER-SHARE-GAIN-APPREC>                            .34
<PER-SHARE-DIVIDEND>                             (.24)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.47
<EXPENSE-RATIO>                                    .94
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the Financial Statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 014
   <NAME> NUVEEN FLAGSHIP ALABAMA MUNICIPAL BOND FUND- CLASS R
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                             JUN-01-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                             6766
<INVESTMENTS-AT-VALUE>                            7103
<RECEIVABLES>                                      114
<ASSETS-OTHER>                                     324
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                    7541
<PAYABLE-FOR-SECURITIES>                           288
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           55
<TOTAL-LIABILITIES>                                343
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                          6869
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            1
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            (9)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           337
<NET-ASSETS>                                      7198
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  176
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      18
<NET-INVESTMENT-INCOME>                            158
<REALIZED-GAINS-CURRENT>                             6
<APPREC-INCREASE-CURRENT>                          190
<NET-CHANGE-FROM-OPS>                              354
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                            1957
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                         (14)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               18
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     76
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                            10.13
<PER-SHARE-NII>                                    .32
<PER-SHARE-GAIN-APPREC>                            .34
<PER-SHARE-DIVIDEND>                             (.28)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.51
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 021
   <NAME> NUVEEN GEORGIA MUNICIPAL BOND FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                           122436
<INVESTMENTS-AT-VALUE>                          133164
<RECEIVABLES>                                     2823
<ASSETS-OTHER>                                     233
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  136220
<PAYABLE-FOR-SECURITIES>                          1037
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          686
<TOTAL-LIABILITIES>                               1723
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        124772
<SHARES-COMMON-STOCK>                            10604
<SHARES-COMMON-PRIOR>                            10551
<ACCUMULATED-NII-CURRENT>                         (12)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (991)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         10728
<NET-ASSETS>                                    134497
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 3812
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     494
<NET-INVESTMENT-INCOME>                           3318
<REALIZED-GAINS-CURRENT>                          1617
<APPREC-INCREASE-CURRENT>                         4390
<NET-CHANGE-FROM-OPS>                             9325
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          299
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            446
<NUMBER-OF-SHARES-REDEEMED>                       (582)
<SHARES-REINVESTED>                                189
<NET-CHANGE-IN-ASSETS>                           11041
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                       (2608)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              359
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    611
<AVERAGE-NET-ASSETS>                            115934
<PER-SHARE-NAV-BEGIN>                            10.57
<PER-SHARE-NII>                                    .28
<PER-SHARE-GAIN-APPREC>                            .51
<PER-SHARE-DIVIDEND>                             (.28)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.08
<EXPENSE-RATIO>                                    .69
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 022
   <NAME> NUVEEN GEORGIA MUNICIPAL BOND FUND CLASS B
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                           122436
<INVESTMENTS-AT-VALUE>                          133164
<RECEIVABLES>                                     2823
<ASSETS-OTHER>                                     233
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  136220
<PAYABLE-FOR-SECURITIES>                          1037
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          686
<TOTAL-LIABILITIES>                               1723
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        124772
<SHARES-COMMON-STOCK>                              122
<SHARES-COMMON-PRIOR>                               11
<ACCUMULATED-NII-CURRENT>                         (12)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (991)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         10728
<NET-ASSETS>                                    134497
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 3812
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     494
<NET-INVESTMENT-INCOME>                           3318
<REALIZED-GAINS-CURRENT>                          1617
<APPREC-INCREASE-CURRENT>                         4390
<NET-CHANGE-FROM-OPS>                             9325
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           13
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            111
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  1
<NET-CHANGE-IN-ASSETS>                           11041
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                       (2608)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              359
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    611
<AVERAGE-NET-ASSETS>                               619
<PER-SHARE-NAV-BEGIN>                            10.57
<PER-SHARE-NII>                                    .24
<PER-SHARE-GAIN-APPREC>                            .52
<PER-SHARE-DIVIDEND>                             (.24)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.09
<EXPENSE-RATIO>                                   1.44
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 023
   <NAME> NUVEEN GEORGIA MUNICIPAL BOND FUND CLASS C
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                           122436
<INVESTMENTS-AT-VALUE>                          133164
<RECEIVABLES>                                     2823
<ASSETS-OTHER>                                     233
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  136220
<PAYABLE-FOR-SECURITIES>                          1037
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          686
<TOTAL-LIABILITIES>                               1723
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        124772
<SHARES-COMMON-STOCK>                             1404 
<SHARES-COMMON-PRIOR>                             1119
<ACCUMULATED-NII-CURRENT>                         (12)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (991)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         10728
<NET-ASSETS>                                    134497
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 3812
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     494
<NET-INVESTMENT-INCOME>                           3318
<REALIZED-GAINS-CURRENT>                          1617
<APPREC-INCREASE-CURRENT>                         4390
<NET-CHANGE-FROM-OPS>                             9325
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          315 
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            358
<NUMBER-OF-SHARES-REDEEMED>                        (94)
<SHARES-REINVESTED>                                 21
<NET-CHANGE-IN-ASSETS>                           11041
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                       (2608)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              359
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    611
<AVERAGE-NET-ASSETS>                             13679  
<PER-SHARE-NAV-BEGIN>                            10.55
<PER-SHARE-NII>                                    .25
<PER-SHARE-GAIN-APPREC>                            .50
<PER-SHARE-DIVIDEND>                             (.25)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.05
<EXPENSE-RATIO>                                   1.24
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 024
   <NAME> NUVEEN GEORGIA MUNICIPAL BOND FUND CLASS R
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                           122436
<INVESTMENTS-AT-VALUE>                          133164
<RECEIVABLES>                                     2823
<ASSETS-OTHER>                                     233
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  136220
<PAYABLE-FOR-SECURITIES>                          1037
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          686
<TOTAL-LIABILITIES>                               1723
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        124772
<SHARES-COMMON-STOCK>                               16 
<SHARES-COMMON-PRIOR>                                2
<ACCUMULATED-NII-CURRENT>                         (12)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (991)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         10728
<NET-ASSETS>                                    134497
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 3812
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     494
<NET-INVESTMENT-INCOME>                           3318
<REALIZED-GAINS-CURRENT>                          1617
<APPREC-INCREASE-CURRENT>                         4390
<NET-CHANGE-FROM-OPS>                             9325
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            3 
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             15
<NUMBER-OF-SHARES-REDEEMED>                        (1)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           11041
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                       (2608)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              359
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    611
<AVERAGE-NET-ASSETS>                               117  
<PER-SHARE-NAV-BEGIN>                            10.57
<PER-SHARE-NII>                                    .29
<PER-SHARE-GAIN-APPREC>                            .47
<PER-SHARE-DIVIDEND>                             (.29)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.04
<EXPENSE-RATIO>                                    .49 
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 031
   <NAME> NUVEEN FLAGSHIP LOUISIANA MUNICIPAL-CLASS A
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                            87375
<INVESTMENTS-AT-VALUE>                           95323
<RECEIVABLES>                                     1702
<ASSETS-OTHER>                                     136
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   97161
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          617
<TOTAL-LIABILITIES>                                617
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         88283
<SHARES-COMMON-STOCK>                             7172
<SHARES-COMMON-PRIOR>                             6853
<ACCUMULATED-NII-CURRENT>                          (10)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            323
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          7948
<NET-ASSETS>                                     96544
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 2713
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     402
<NET-INVESTMENT-INCOME>                           2311
<REALIZED-GAINS-CURRENT>                           204
<APPREC-INCREASE-CURRENT>                         2522
<NET-CHANGE-FROM-OPS>                             5037
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         2059
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            568
<NUMBER-OF-SHARES-REDEEMED>                        370
<SHARES-REINVESTED>                                122
<NET-CHANGE-IN-ASSETS>                           11951
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                          120
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              250
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    435
<AVERAGE-NET-ASSETS>                             79155
<PER-SHARE-NAV-BEGIN>                            11.10
<PER-SHARE-NII>                                    .29
<PER-SHARE-GAIN-APPREC>                            .34
<PER-SHARE-DIVIDEND>                             (.29)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.44
<EXPENSE-RATIO>                                    .81
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 032
   <NAME> NUVEEN FLAGSHIP LOUISIANA MUNICIPAL-CLASS B
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                            87375
<INVESTMENTS-AT-VALUE>                           95323
<RECEIVABLES>                                     1702
<ASSETS-OTHER>                                     136
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   97161
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          617
<TOTAL-LIABILITIES>                                617
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         88283
<SHARES-COMMON-STOCK>                              331
<SHARES-COMMON-PRIOR>                               83
<ACCUMULATED-NII-CURRENT>                          (10)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            323
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          7948
<NET-ASSETS>                                     96544
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 2713
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     402
<NET-INVESTMENT-INCOME>                           2311
<REALIZED-GAINS-CURRENT>                           204
<APPREC-INCREASE-CURRENT>                         2522
<NET-CHANGE-FROM-OPS>                             5037
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           47
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            249
<NUMBER-OF-SHARES-REDEEMED>                        (3)
<SHARES-REINVESTED>                                  2
<NET-CHANGE-IN-ASSETS>                           11951
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                          120
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              250
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    435
<AVERAGE-NET-ASSETS>                              2189
<PER-SHARE-NAV-BEGIN>                            11.09
<PER-SHARE-NII>                                    .25
<PER-SHARE-GAIN-APPREC>                            .34
<PER-SHARE-DIVIDEND>                              (.25)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.43
<EXPENSE-RATIO>                                   1.56
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 033
   <NAME> NUVEEN FLAGSHIP LOUISIANA MUNICIPAL-CLASS C
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                            87375
<INVESTMENTS-AT-VALUE>                           95323
<RECEIVABLES>                                     1702
<ASSETS-OTHER>                                     136
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   97161
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          617
<TOTAL-LIABILITIES>                                617
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         88283
<SHARES-COMMON-STOCK>                              937
<SHARES-COMMON-PRIOR>                              689
<ACCUMULATED-NII-CURRENT>                          (10)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            323
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          7948
<NET-ASSETS>                                     96544
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 2713
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     402
<NET-INVESTMENT-INCOME>                           2311
<REALIZED-GAINS-CURRENT>                           204
<APPREC-INCREASE-CURRENT>                         2522
<NET-CHANGE-FROM-OPS>                             5037
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          215
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            269
<NUMBER-OF-SHARES-REDEEMED>                        (36)
<SHARES-REINVESTED>                                 15
<NET-CHANGE-IN-ASSETS>                           11951
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                          120
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              250
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    435
<AVERAGE-NET-ASSETS>                              9279
<PER-SHARE-NAV-BEGIN>                            11.09
<PER-SHARE-NII>                                    .26
<PER-SHARE-GAIN-APPREC>                            .34
<PER-SHARE-DIVIDEND>                              (.26)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.43
<EXPENSE-RATIO>                                   1.36
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 034
   <NAME> NUVEEN FLAGSHIP LOUISIANA MUNICIPAL-CLASS R
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                            87375
<INVESTMENTS-AT-VALUE>                           95323
<RECEIVABLES>                                     1702
<ASSETS-OTHER>                                     136
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   97161
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          617
<TOTAL-LIABILITIES>                                617
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         88283
<SHARES-COMMON-STOCK>                                2
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                          (10)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            323
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          7948
<NET-ASSETS>                                     96544
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 2713
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     402
<NET-INVESTMENT-INCOME>                           2311
<REALIZED-GAINS-CURRENT>                           204
<APPREC-INCREASE-CURRENT>                         2522
<NET-CHANGE-FROM-OPS>                             5037
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              2
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           11951
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                          120
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              250
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    435
<AVERAGE-NET-ASSETS>                                 8
<PER-SHARE-NAV-BEGIN>                            11.09
<PER-SHARE-NII>                                    .30
<PER-SHARE-GAIN-APPREC>                            .37
<PER-SHARE-DIVIDEND>                              (.31)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.45
<EXPENSE-RATIO>                                    .60
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Form N-SAR and the financial statements and is qualified in its entirety
by references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 041
   <NAME> NUVEEN FLAGSHIP NORTH CAROLINA MUNICIPAL BOND FUND CLASS A
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                           184856
<INVESTMENTS-AT-VALUE>                          196315
<RECEIVABLES>                                     3657
<ASSETS-OTHER>                                    1825
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  201797
<PAYABLE-FOR-SECURITIES>                          5933
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1226
<TOTAL-LIABILITIES>                               7159
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        182692
<SHARES-COMMON-STOCK>                            17636
<SHARES-COMMON-PRIOR>                            17671
<ACCUMULATED-NII-CURRENT>                          152
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            335
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         11459
<NET-ASSETS>                                    194638
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 5846
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     854
<NET-INVESTMENT-INCOME>                           4992
<REALIZED-GAINS-CURRENT>                          1394
<APPREC-INCREASE-CURRENT>                         2947
<NET-CHANGE-FROM-OPS>                             9333
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         4730
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            567
<NUMBER-OF-SHARES-REDEEMED>                       (865)
<SHARES-REINVESTED>                                263
<NET-CHANGE-IN-ASSETS>                            5302
<ACCUMULATED-NII-PRIOR>                             84
<ACCUMULATED-GAINS-PRIOR>                        (1060)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              529
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    854
<AVERAGE-NET-ASSETS>                            184902
<PER-SHARE-NAV-BEGIN>                            10.28
<PER-SHARE-NII>                                    .27
<PER-SHARE-GAIN-APPREC>                            .23
<PER-SHARE-DIVIDEND>                              (.27)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.51
<EXPENSE-RATIO>                                   0.86
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Form N-SAR and the financial statements and is qualified in its entirety
by references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 042
   <NAME> NUVEEN FLAGSHIP NORTH CAROLINA MUNICIPAL BOND FUND CLASS B
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                           184856
<INVESTMENTS-AT-VALUE>                          196315
<RECEIVABLES>                                     3657
<ASSETS-OTHER>                                    1825
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  201797
<PAYABLE-FOR-SECURITIES>                          5933
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1226
<TOTAL-LIABILITIES>                               7159
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        182692
<SHARES-COMMON-STOCK>                               82
<SHARES-COMMON-PRIOR>                               26
<ACCUMULATED-NII-CURRENT>                          152
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            335
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         11459
<NET-ASSETS>                                    194638
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 5846
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     854
<NET-INVESTMENT-INCOME>                           4992
<REALIZED-GAINS-CURRENT>                          1394
<APPREC-INCREASE-CURRENT>                         2947
<NET-CHANGE-FROM-OPS>                             9333
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           13
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             58
<NUMBER-OF-SHARES-REDEEMED>                         (3)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                            5302
<ACCUMULATED-NII-PRIOR>                             84
<ACCUMULATED-GAINS-PRIOR>                        (1060)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              529
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    854
<AVERAGE-NET-ASSETS>                               621
<PER-SHARE-NAV-BEGIN>                            10.28
<PER-SHARE-NII>                                    .23
<PER-SHARE-GAIN-APPREC>                            .24
<PER-SHARE-DIVIDEND>                              (.23)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.52
<EXPENSE-RATIO>                                   1.61
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Form N-SAR and the financial statements and is qualified in its entirety
by references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 043
   <NAME> NUVEEN FLAGSHIP NORTH CAROLINA MUNICIPAL BOND FUND CLASS C
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                           184856
<INVESTMENTS-AT-VALUE>                          196315
<RECEIVABLES>                                     3657
<ASSETS-OTHER>                                    1825
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  201797
<PAYABLE-FOR-SECURITIES>                          5933
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1226
<TOTAL-LIABILITIES>                               7159
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        182692
<SHARES-COMMON-STOCK>                              727
<SHARES-COMMON-PRIOR>                              689
<ACCUMULATED-NII-CURRENT>                          152
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            335
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         11459
<NET-ASSETS>                                    194638
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 5846
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     854
<NET-INVESTMENT-INCOME>                           4992
<REALIZED-GAINS-CURRENT>                          1394
<APPREC-INCREASE-CURRENT>                         2947
<NET-CHANGE-FROM-OPS>                             9333
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          166
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             81
<NUMBER-OF-SHARES-REDEEMED>                        (55)
<SHARES-REINVESTED>                                 13
<NET-CHANGE-IN-ASSETS>                            5302
<ACCUMULATED-NII-PRIOR>                             84
<ACCUMULATED-GAINS-PRIOR>                        (1060)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              529
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    854
<AVERAGE-NET-ASSETS>                              7287
<PER-SHARE-NAV-BEGIN>                            10.26
<PER-SHARE-NII>                                    .24
<PER-SHARE-GAIN-APPREC>                            .24
<PER-SHARE-DIVIDEND>                              (.24)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.50
<EXPENSE-RATIO>                                   1.41
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Form N-SAR and the financial statements and is qualified in its entirety
by references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 044
   <NAME> NUVEEN FLAGSHIP NORTH CAROLINA MUNICIPAL BOND FUND CLASS R
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                           184856
<INVESTMENTS-AT-VALUE>                          196315
<RECEIVABLES>                                     3657
<ASSETS-OTHER>                                    1825
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  201797
<PAYABLE-FOR-SECURITIES>                          5933
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1226
<TOTAL-LIABILITIES>                               7159
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                           152
<SHARES-COMMON-STOCK>                               68
<SHARES-COMMON-PRIOR>                               39
<ACCUMULATED-NII-CURRENT>                       334995
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            335
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         11459
<NET-ASSETS>                                    194638
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 5846
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     854
<NET-INVESTMENT-INCOME>                           4992
<REALIZED-GAINS-CURRENT>                          1394
<APPREC-INCREASE-CURRENT>                         2947
<NET-CHANGE-FROM-OPS>                             9333
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           16
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             28
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  1
<NET-CHANGE-IN-ASSETS>                            5302
<ACCUMULATED-NII-PRIOR>                             84
<ACCUMULATED-GAINS-PRIOR>                        (1060)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              529
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    854
<AVERAGE-NET-ASSETS>                               590
<PER-SHARE-NAV-BEGIN>                            10.28
<PER-SHARE-NII>                                    .28
<PER-SHARE-GAIN-APPREC>                            .22
<PER-SHARE-DIVIDEND>                              (.28)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.50
<EXPENSE-RATIO>                                    .66
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 051
   <NAME> NUVEEN FLAGSHIP SOUTH CAROLINA CLASS A
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                            11753
<INVESTMENTS-AT-VALUE>                           12391
<RECEIVABLES>                                      269
<ASSETS-OTHER>                                      86
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   12746
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           76
<TOTAL-LIABILITIES>                                 76
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         12214
<SHARES-COMMON-STOCK>                             1169
<SHARES-COMMON-PRIOR>                             1011
<ACCUMULATED-NII-CURRENT>                            2
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (184)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           638
<NET-ASSETS>                                     12670
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  315
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      35
<NET-INVESTMENT-INCOME>                            280
<REALIZED-GAINS-CURRENT>                           123
<APPREC-INCREASE-CURRENT>                          213
<NET-CHANGE-FROM-OPS>                              616
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          263
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            360
<NUMBER-OF-SHARES-REDEEMED>                      (218)
<SHARES-REINVESTED>                                 16
<NET-CHANGE-IN-ASSETS>                            2435
<ACCUMULATED-NII-PRIOR>                              2
<ACCUMULATED-GAINS-PRIOR>                        (307)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               31
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     78
<AVERAGE-NET-ASSETS>                             10385
<PER-SHARE-NAV-BEGIN>                             9.53
<PER-SHARE-NII>                                    .24
<PER-SHARE-GAIN-APPREC>                            .30
<PER-SHARE-DIVIDEND>                             (.25)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.82
<EXPENSE-RATIO>                                    .59
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 052
   <NAME> NUVEEN FLAGSHIP SOUTH CAROLINA CLASS B
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                            11753
<INVESTMENTS-AT-VALUE>                           12391
<RECEIVABLES>                                      269
<ASSETS-OTHER>                                      86
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   12746
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           76
<TOTAL-LIABILITIES>                                 76
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         12214
<SHARES-COMMON-STOCK>                               46
<SHARES-COMMON-PRIOR>                               17
<ACCUMULATED-NII-CURRENT>                            2
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (184)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           638
<NET-ASSETS>                                     12670
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  315
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      35
<NET-INVESTMENT-INCOME>                            280
<REALIZED-GAINS-CURRENT>                           123
<APPREC-INCREASE-CURRENT>                          213
<NET-CHANGE-FROM-OPS>                              616
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            5
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             29
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                            2435
<ACCUMULATED-NII-PRIOR>                              2
<ACCUMULATED-GAINS-PRIOR>                        (307)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               31
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     78
<AVERAGE-NET-ASSETS>                               245
<PER-SHARE-NAV-BEGIN>                             9.52
<PER-SHARE-NII>                                    .21
<PER-SHARE-GAIN-APPREC>                            .28
<PER-SHARE-DIVIDEND>                             (.21)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.80
<EXPENSE-RATIO>                                   1.34
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 053
   <NAME> NUVEEN FLAGSHIP SOUTH CAROLINA CLASS C
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                            11753
<INVESTMENTS-AT-VALUE>                           12391
<RECEIVABLES>                                      269
<ASSETS-OTHER>                                      86
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   12746
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           76
<TOTAL-LIABILITIES>                                 76
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         12214
<SHARES-COMMON-STOCK>                               71
<SHARES-COMMON-PRIOR>                               44
<ACCUMULATED-NII-CURRENT>                            2
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (184)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           638
<NET-ASSETS>                                     12670
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  315
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      35
<NET-INVESTMENT-INCOME>                            280
<REALIZED-GAINS-CURRENT>                           123
<APPREC-INCREASE-CURRENT>                          213
<NET-CHANGE-FROM-OPS>                              616
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           12 
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             35
<NUMBER-OF-SHARES-REDEEMED>                        (9)
<SHARES-REINVESTED>                                  1
<NET-CHANGE-IN-ASSETS>                            2435
<ACCUMULATED-NII-PRIOR>                              2
<ACCUMULATED-GAINS-PRIOR>                        (307)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               31
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     78
<AVERAGE-NET-ASSETS>                               522
<PER-SHARE-NAV-BEGIN>                             9.52
<PER-SHARE-NII>                                    .22
<PER-SHARE-GAIN-APPREC>                            .29
<PER-SHARE-DIVIDEND>                             (.22)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.81
<EXPENSE-RATIO>                                   1.14
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 054
   <NAME> NUVEEN FLAGSHIP SOUTH CAROLINA CLASS R
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                            11753
<INVESTMENTS-AT-VALUE>                           12391
<RECEIVABLES>                                      269
<ASSETS-OTHER>                                      86
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   12746
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           76
<TOTAL-LIABILITIES>                                 76
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         12214
<SHARES-COMMON-STOCK>                                5
<SHARES-COMMON-PRIOR>                                3
<ACCUMULATED-NII-CURRENT>                            2
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (184)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           638
<NET-ASSETS>                                     12670
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  315
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      35
<NET-INVESTMENT-INCOME>                            280
<REALIZED-GAINS-CURRENT>                           123
<APPREC-INCREASE-CURRENT>                          213
<NET-CHANGE-FROM-OPS>                              616
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            1 
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              2
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                            2435
<ACCUMULATED-NII-PRIOR>                              2
<ACCUMULATED-GAINS-PRIOR>                        (307)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               31
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     78
<AVERAGE-NET-ASSETS>                                42
<PER-SHARE-NAV-BEGIN>                             9.54
<PER-SHARE-NII>                                    .25
<PER-SHARE-GAIN-APPREC>                            .29
<PER-SHARE-DIVIDEND>                             (.26)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.82
<EXPENSE-RATIO>                                    .39
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Form N-SAR and the financial statements and is qualified in its entirety
by references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 061
   <NAME> TENNESSEE CLASS A
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                           262359
<INVESTMENTS-AT-VALUE>                          283637
<RECEIVABLES>                                     4881
<ASSETS-OTHER>                                    2079
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  290597
<PAYABLE-FOR-SECURITIES>                          1078
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1677
<TOTAL-LIABILITIES>                               2755
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        270300
<SHARES-COMMON-STOCK>                            23593
<SHARES-COMMON-PRIOR>                            23281
<ACCUMULATED-NII-CURRENT>                          (11)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (3724)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         21277
<NET-ASSETS>                                    287842
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 8487
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    1188
<NET-INVESTMENT-INCOME>                           7299
<REALIZED-GAINS-CURRENT>                           273
<APPREC-INCREASE-CURRENT>                         7424
<NET-CHANGE-FROM-OPS>                            14996
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         6901
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            998
<NUMBER-OF-SHARES-REDEEMED>                      (1026)
<SHARES-REINVESTED>                                341
<NET-CHANGE-IN-ASSETS>                           14532
<ACCUMULATED-NII-PRIOR>                              3
<ACCUMULATED-GAINS-PRIOR>                        (3997)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              766
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   1243
<AVERAGE-NET-ASSETS>                            264103
<PER-SHARE-NAV-BEGIN>                            11.06
<PER-SHARE-NII>                                    .29
<PER-SHARE-GAIN-APPREC>                            .31
<PER-SHARE-DIVIDEND>                              (.29)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.37
<EXPENSE-RATIO>                                    .80
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Form N-SAR and the financial statements and is qualified in its entirety
by references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 062
   <NAME> TENNESSEE CLASS B
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                           262359
<INVESTMENTS-AT-VALUE>                          283637
<RECEIVABLES>                                     4881
<ASSETS-OTHER>                                    2079
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  290597
<PAYABLE-FOR-SECURITIES>                          1078
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1677
<TOTAL-LIABILITIES>                               2755
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        270300
<SHARES-COMMON-STOCK>                              182
<SHARES-COMMON-PRIOR>                               49
<ACCUMULATED-NII-CURRENT>                          (11)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (3724)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         21277
<NET-ASSETS>                                    287842
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 8487
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    1188
<NET-INVESTMENT-INCOME>                           7299
<REALIZED-GAINS-CURRENT>                           273
<APPREC-INCREASE-CURRENT>                         7424
<NET-CHANGE-FROM-OPS>                            14996
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           29
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            137
<NUMBER-OF-SHARES-REDEEMED>                         (5)
<SHARES-REINVESTED>                                  1
<NET-CHANGE-IN-ASSETS>                           14532
<ACCUMULATED-NII-PRIOR>                              3
<ACCUMULATED-GAINS-PRIOR>                        (3997)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              766
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   1243
<AVERAGE-NET-ASSETS>                              1356
<PER-SHARE-NAV-BEGIN>                            11.06
<PER-SHARE-NII>                                    .25
<PER-SHARE-GAIN-APPREC>                            .31
<PER-SHARE-DIVIDEND>                              (.25)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.37
<EXPENSE-RATIO>                                   1.56
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Form N-SAR and the financial statements and is qualified in its entirety
by references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 063
   <NAME> TENNESSEE CLASS C
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                           262359
<INVESTMENTS-AT-VALUE>                          283637
<RECEIVABLES>                                     4881
<ASSETS-OTHER>                                    2079
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  290597
<PAYABLE-FOR-SECURITIES>                          1078
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1677
<TOTAL-LIABILITIES>                               2755
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        270300
<SHARES-COMMON-STOCK>                             1518
<SHARES-COMMON-PRIOR>                             1362
<ACCUMULATED-NII-CURRENT>                          (11)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (3724)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         21277
<NET-ASSETS>                                    287842
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 8487
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    1188
<NET-INVESTMENT-INCOME>                           7299
<REALIZED-GAINS-CURRENT>                           273
<APPREC-INCREASE-CURRENT>                         7424
<NET-CHANGE-FROM-OPS>                            14996
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          377
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            202
<NUMBER-OF-SHARES-REDEEMED>                        (75)
<SHARES-REINVESTED>                                 30
<NET-CHANGE-IN-ASSETS>                           14532
<ACCUMULATED-NII-PRIOR>                              3
<ACCUMULATED-GAINS-PRIOR>                        (3997)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              766
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   1243
<AVERAGE-NET-ASSETS>                             16288
<PER-SHARE-NAV-BEGIN>                            11.05
<PER-SHARE-NII>                                    .26
<PER-SHARE-GAIN-APPREC>                            .31
<PER-SHARE-DIVIDEND>                              (.26)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.36
<EXPENSE-RATIO>                                   1.35
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Form N-SAR and the financial statements and is qualified in its entirety
by references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 064
   <NAME> TENNESSEE CLASS R
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                              JUN-1-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                           262359
<INVESTMENTS-AT-VALUE>                          283637
<RECEIVABLES>                                     4881
<ASSETS-OTHER>                                    2079
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  290597
<PAYABLE-FOR-SECURITIES>                          1078
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1677
<TOTAL-LIABILITIES>                               2755
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        270300
<SHARES-COMMON-STOCK>                               30
<SHARES-COMMON-PRIOR>                               22
<ACCUMULATED-NII-CURRENT>                          (11)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (3724)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         21277
<NET-ASSETS>                                    287842
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 8487
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    1188
<NET-INVESTMENT-INCOME>                           7299
<REALIZED-GAINS-CURRENT>                           273
<APPREC-INCREASE-CURRENT>                         7424
<NET-CHANGE-FROM-OPS>                            14996
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            8
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              7
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  1
<NET-CHANGE-IN-ASSETS>                           14532
<ACCUMULATED-NII-PRIOR>                              3
<ACCUMULATED-GAINS-PRIOR>                        (3997)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              766
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   1243
<AVERAGE-NET-ASSETS>                               300
<PER-SHARE-NAV-BEGIN>                            11.04
<PER-SHARE-NII>                                    .30
<PER-SHARE-GAIN-APPREC>                            .31
<PER-SHARE-DIVIDEND>                              (.30)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.35
<EXPENSE-RATIO>                                    .61
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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