<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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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
076 001700 0.00
080 A001700 ICI MUTUAL INSURANCE
080 C001700 50000
081 A001700 Y
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085 B001700 N
SIGNATURE DOUGLAS MILLER
TITLE VP FUND ADMN
July 19, 1999
To the Board of Trustees and Shareholders of:
Evergreen High Grade Municipal Bond Fund
Evergreen Short Intermediate Municipal Bond Fund
Evergreen Municipal Bond Fund
In planning and performing our audits of the financial statements Evergreen High
Grade Municipal Bond Fund, Evergreen Short Intermediate Municipal Bond Fund, and
Evergreen Municipal Bond Fund (the "Funds") for the year ended May 31, 1999, we
considered their internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on internal control.
The management of the Funds is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
May 31, 1999.
This report is intended solely for the information and use of management, the
Board of Trustees of the Funds and the Securities and Exchange Commission.
PricewaterhouseCoopers LLP
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> EVERGREEN HIGH GRADE MUNICIPAL BOND FUND CLASS A
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-START> JUNE-01-1998
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> "112,993,996 "
<INVESTMENTS-AT-VALUE> "115,712,615 "
<RECEIVABLES> "2,111,125 "
<ASSETS-OTHER> "32,573 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "117,856,313 "
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "485,914 "
<TOTAL-LIABILITIES> "485,914 "
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "57,983,315 "
<SHARES-COMMON-STOCK> "5,725,066 "
<SHARES-COMMON-PRIOR> "5,678,221 "
<ACCUMULATED-NII-CURRENT> "36,273 "
<OVERDISTRIBUTION-NII> "4,675 "
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> "795,453 "
<ACCUM-APPREC-OR-DEPREC> "4,197,953 "
<NET-ASSETS> "63,017,669 "
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "3,471,224 "
<OTHER-INCOME> 0
<EXPENSES-NET> "(630,173)"
<NET-INVESTMENT-INCOME> "2,841,051 "
<REALIZED-GAINS-CURRENT> "1,768,843 "
<APPREC-INCREASE-CURRENT> "(2,193,301)"
<NET-CHANGE-FROM-OPS> "2,416,593 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(2,850,299)"
<DISTRIBUTIONS-OF-GAINS> "(1,616,602)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "829,516 "
<NUMBER-OF-SHARES-REDEEMED> "(1,053,272)"
<SHARES-REINVESTED> "270,601 "
<NET-CHANGE-IN-ASSETS> "(1,529,024)"
<ACCUMULATED-NII-PRIOR> "45,522 "
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> "(2,226,765)"
<GROSS-ADVISORY-FEES> "(333,145)"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "(630,173)"
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 102
<NAME> EVERGREEN HIGH GRADE MUNICIPAL BOND FUND CLASS B
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-START> JUNE-01-1998
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> "112,993,996 "
<INVESTMENTS-AT-VALUE> "115,712,615 "
<RECEIVABLES> "2,111,125 "
<ASSETS-OTHER> "32,573 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "117,856,313 "
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "485,914 "
<TOTAL-LIABILITIES> "485,914 "
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "32,980,050 "
<SHARES-COMMON-STOCK> "2,915,118 "
<SHARES-COMMON-PRIOR> "2,888,261 "
<ACCUMULATED-NII-CURRENT> "25,474 "
<OVERDISTRIBUTION-NII> "2,305 "
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> "576,888 "
<ACCUM-APPREC-OR-DEPREC> "(1,497,059)"
<NET-ASSETS> "32,087,657 "
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "1,712,924 "
<OTHER-INCOME> 0
<EXPENSES-NET> "(557,435)"
<NET-INVESTMENT-INCOME> "1,155,489 "
<REALIZED-GAINS-CURRENT> "873,956 "
<APPREC-INCREASE-CURRENT> "(1,123,781)"
<NET-CHANGE-FROM-OPS> "905,664 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(1,160,127)"
<DISTRIBUTIONS-OF-GAINS> "(780,637)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "412,546 "
<NUMBER-OF-SHARES-REDEEMED> "(492,984)"
<SHARES-REINVESTED> "107,295 "
<NET-CHANGE-IN-ASSETS> "(713,509)"
<ACCUMULATED-NII-PRIOR> "30,111 "
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> "(1,025,346)"
<GROSS-ADVISORY-FEES> "(164,374)"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "(557,435)"
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 103
<NAME> EVERGREEN HIGH GRADE MUNICIPAL BOND FUND CLASS C
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-START> JUNE-01-1998
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> "112,993,996 "
<INVESTMENTS-AT-VALUE> "115,712,615 "
<RECEIVABLES> "2,111,125 "
<ASSETS-OTHER> "32,573 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "117,856,313 "
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "485,914 "
<TOTAL-LIABILITIES> "485,914 "
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "1,004 "
<SHARES-COMMON-STOCK> 90
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (0)
<ACCUM-APPREC-OR-DEPREC> (15)
<NET-ASSETS> 988
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4
<OTHER-INCOME> 0
<EXPENSES-NET> (1)
<NET-INVESTMENT-INCOME> 3
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> (15)
<NET-CHANGE-FROM-OPS> (12)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 90
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 989
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1)
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 104
<NAME> EVERGREEN HIGH GRADE MUNICIPAL BOND FUND CLASS Y
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-START> JUNE-01-1998
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> "112,993,996 "
<INVESTMENTS-AT-VALUE> "115,712,615 "
<RECEIVABLES> "2,111,125 "
<ASSETS-OTHER> "32,573 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "117,856,313 "
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "485,914 "
<TOTAL-LIABILITIES> "485,914 "
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "21,635,638 "
<SHARES-COMMON-STOCK> "2,022,657 "
<SHARES-COMMON-PRIOR> "2,197,899 "
<ACCUMULATED-NII-CURRENT> "20,508 "
<OVERDISTRIBUTION-NII> "1,750 "
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> "514,374 "
<ACCUM-APPREC-OR-DEPREC> "91,814 "
<NET-ASSETS> "22,264,084 "
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "1,300,097 "
<OTHER-INCOME> 0
<EXPENSES-NET> "(173,754)"
<NET-INVESTMENT-INCOME> "1,126,343 "
<REALIZED-GAINS-CURRENT> "656,629 "
<APPREC-INCREASE-CURRENT> "(775,315)"
<NET-CHANGE-FROM-OPS> "1,007,657 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(1,128,808)"
<DISTRIBUTIONS-OF-GAINS> "(641,983)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "547,403 "
<NUMBER-OF-SHARES-REDEEMED> "(824,354)"
<SHARES-REINVESTED> "101,709 "
<NET-CHANGE-IN-ASSETS> "(2,712,200)"
<ACCUMULATED-NII-PRIOR> "22,973 "
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> "(641,983)"
<GROSS-ADVISORY-FEES> "(124,797)"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "(173,754)"
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> EVERGREEN MUNICIPAL BOND FUND CLASS A
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> FEB-28-1999
<INVESTMENTS-AT-COST> "1,146,686,341 "
<INVESTMENTS-AT-VALUE> "1,174,813,403 "
<RECEIVABLES> "27,921,425 "
<ASSETS-OTHER> "252,640 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "1,202,987,468 "
<PAYABLE-FOR-SECURITIES> "12,774,109 "
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "5,425,215 "
<TOTAL-LIABILITIES> "18,199,324 "
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "1,161,563,235 "
<SHARES-COMMON-STOCK> "147,008,498 "
<SHARES-COMMON-PRIOR> "159,872,745 "
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> "(61,379)"
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> "(4,249,529)"
<ACCUM-APPREC-OR-DEPREC> "(57,533,901)"
<NET-ASSETS> "1,099,718,426 "
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "59,870,812 "
<OTHER-INCOME> "2,845,501 "
<EXPENSES-NET> "(9,946,417)"
<NET-INVESTMENT-INCOME> "52,769,896 "
<REALIZED-GAINS-CURRENT> "(62,467)"
<APPREC-INCREASE-CURRENT> "(30,240,445)"
<NET-CHANGE-FROM-OPS> "22,466,984 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(52,828,617)"
<DISTRIBUTIONS-OF-GAINS> "(35,326,187)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "28,166,524 "
<NUMBER-OF-SHARES-REDEEMED> "(47,475,315)"
<SHARES-REINVESTED> "6,444,544 "
<NET-CHANGE-IN-ASSETS> "(164,666,474)"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> "11,247,631 "
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "(4,873,104)"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "(9,946,417)"
<AVERAGE-NET-ASSETS> "1,174,102,420 "
<PER-SHARE-NAV-BEGIN> 7.78
<PER-SHARE-NII> 0.34
<PER-SHARE-GAIN-APPREC> (0.07)
<PER-SHARE-DIVIDEND> (0.34)
<PER-SHARE-DISTRIBUTIONS> (0.23)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.48
<EXPENSE-RATIO> 0.85
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 102
<NAME> EVERGREEN MUNICIPAL BOND FUND CLASS B
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> FEB-28-1999
<INVESTMENTS-AT-COST> "1,146,686,341 "
<INVESTMENTS-AT-VALUE> "1,174,813,403 "
<RECEIVABLES> "27,921,425 "
<ASSETS-OTHER> "252,640 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "1,202,987,468 "
<PAYABLE-FOR-SECURITIES> "12,774,109 "
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "5,425,215 "
<TOTAL-LIABILITIES> "18,199,324 "
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "(19,545,345)"
<SHARES-COMMON-STOCK> "10,449,662 "
<SHARES-COMMON-PRIOR> "16,030,234 "
<ACCUMULATED-NII-CURRENT> "385,848 "
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> "8,783,659 "
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "88,545,235 "
<NET-ASSETS> "78,169,397 "
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "5,440,875 "
<OTHER-INCOME> "258,884 "
<EXPENSES-NET> "(1,703,190)"
<NET-INVESTMENT-INCOME> "3,996,569 "
<REALIZED-GAINS-CURRENT> "(21,725)"
<APPREC-INCREASE-CURRENT> "(2,422,231)"
<NET-CHANGE-FROM-OPS> "1,552,613 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(4,001,229)"
<DISTRIBUTIONS-OF-GAINS> "(3,564,827)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "1,822,072 "
<NUMBER-OF-SHARES-REDEEMED> "(7,959,309)"
<SHARES-REINVESTED> "556,665 "
<NET-CHANGE-IN-ASSETS> "(48,647,556)"
<ACCUMULATED-NII-PRIOR> "385,382 "
<ACCUMULATED-GAINS-PRIOR> "10,573,110 "
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "(443,075)"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "(1,703,190)"
<AVERAGE-NET-ASSETS> "106,752,300 "
<PER-SHARE-NAV-BEGIN> 7.78
<PER-SHARE-NII> 0.29
<PER-SHARE-GAIN-APPREC> (0.07)
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> (0.23)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.48
<EXPENSE-RATIO> 1.60
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 103
<NAME> EVERGREEN MUNICIPAL BOND FUND CLASS C
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> FEB-28-1999
<INVESTMENTS-AT-COST> "1,146,686,341 "
<INVESTMENTS-AT-VALUE> "1,174,813,403 "
<RECEIVABLES> "27,921,425 "
<ASSETS-OTHER> "252,640 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "1,202,987,468 "
<PAYABLE-FOR-SECURITIES> "12,774,109 "
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "5,425,215 "
<TOTAL-LIABILITIES> "18,199,324 "
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "8,604,539 "
<SHARES-COMMON-STOCK> "922,319 "
<SHARES-COMMON-PRIOR> "991,117 "
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (422)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> "(39,939)"
<ACCUM-APPREC-OR-DEPREC> "(1,664,848)"
<NET-ASSETS> "6,899,330 "
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "375,026 "
<OTHER-INCOME> "17,827 "
<EXPENSES-NET> "(117,285)"
<NET-INVESTMENT-INCOME> "275,568 "
<REALIZED-GAINS-CURRENT> (324)
<APPREC-INCREASE-CURRENT> "(190,724)"
<NET-CHANGE-FROM-OPS> "84,520 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(276,027)"
<DISTRIBUTIONS-OF-GAINS> "(220,155)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "109,350 "
<NUMBER-OF-SHARES-REDEEMED> "(224,935)"
<SHARES-REINVESTED> "46,787 "
<NET-CHANGE-IN-ASSETS> "(940,526)"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "(30,544)"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "(117,285)"
<AVERAGE-NET-ASSETS> "7,358,262 "
<PER-SHARE-NAV-BEGIN> 7.78
<PER-SHARE-NII> 0.29
<PER-SHARE-GAIN-APPREC> (0.07)
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> (0.23)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.48
<EXPENSE-RATIO> 1.60
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 104
<NAME> EVERGREEN MUNICIPAL BOND FUND CLASS Y
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> FEB-28-1999
<INVESTMENTS-AT-COST> "1,146,686,341 "
<INVESTMENTS-AT-VALUE> "1,174,813,403 "
<RECEIVABLES> "27,921,425 "
<ASSETS-OTHER> "252,640 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "1,202,987,468 "
<PAYABLE-FOR-SECURITIES> "12,774,109 "
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "5,425,215 "
<TOTAL-LIABILITIES> "18,199,324 "
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "1,004 "
<SHARES-COMMON-STOCK> 132
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (14)
<NET-ASSETS> 990
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 4
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> (14)
<NET-CHANGE-FROM-OPS> (10)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 132
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 990
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 927
<PER-SHARE-NAV-BEGIN> 7.57
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> (0.10)
<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.48
<EXPENSE-RATIO> 0.58
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> EVERGREEN SHORT INTERMEDIATE MUNICIPAL BOND FUND CLASS A
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-START> JUN-01-1998
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> "181,211,079 "
<INVESTMENTS-AT-VALUE> "182,386,531 "
<RECEIVABLES> "2,872,760 "
<ASSETS-OTHER> "20,498 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "185,279,789 "
<PAYABLE-FOR-SECURITIES> "9,519,941 "
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "1,227,519 "
<TOTAL-LIABILITIES> "10,747,460 "
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "7,842,544 "
<SHARES-COMMON-STOCK> "787,826 "
<SHARES-COMMON-PRIOR> "644,684 "
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (456)
<ACCUMULATED-NET-GAINS> "105,434 "
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "27,815 "
<NET-ASSETS> "7,975,337 "
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "327,018 "
<OTHER-INCOME> 0
<EXPENSES-NET> "(51,757)"
<NET-INVESTMENT-INCOME> "275,261 "
<REALIZED-GAINS-CURRENT> "77,275 "
<APPREC-INCREASE-CURRENT> "(75,027)"
<NET-CHANGE-FROM-OPS> "277,509 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(275,716)"
<DISTRIBUTIONS-OF-GAINS> "(56,521)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "1,287,704 "
<NUMBER-OF-SHARES-REDEEMED> "(1,160,473)"
<SHARES-REINVESTED> "15,911 "
<NET-CHANGE-IN-ASSETS> "1,301,291 "
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (456)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "(34,939)"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "(51,757)"
<AVERAGE-NET-ASSETS> "7,005,956 "
<PER-SHARE-NAV-BEGIN> 10.19
<PER-SHARE-NII> 0.40
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> (0.40)
<PER-SHARE-DISTRIBUTIONS> (0.08)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.12
<EXPENSE-RATIO> 0.75
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 102
<NAME> EVERGREEN SHORT INTERMEDIATE MUNICIPAL BOND FUND CLASS B
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-START> JUN-01-1998
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> "181,211,079 "
<INVESTMENTS-AT-VALUE> "182,386,531 "
<RECEIVABLES> "2,872,760 "
<ASSETS-OTHER> "20,498 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "185,279,789 "
<PAYABLE-FOR-SECURITIES> "9,519,941 "
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "1,227,519 "
<TOTAL-LIABILITIES> "10,747,460 "
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "6,225,671 "
<SHARES-COMMON-STOCK> "615,658 "
<SHARES-COMMON-PRIOR> "568,072 "
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (736)
<ACCUMULATED-NET-GAINS> "84,930 "
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "(78,106)"
<NET-ASSETS> "6,231,759 "
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "285,833 "
<OTHER-INCOME> 0
<EXPENSES-NET> "(100,193)"
<NET-INVESTMENT-INCOME> "185,640 "
<REALIZED-GAINS-CURRENT> "68,654 "
<APPREC-INCREASE-CURRENT> "(65,411)"
<NET-CHANGE-FROM-OPS> "188,883 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(186,375)"
<DISTRIBUTIONS-OF-GAINS> "(44,004)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "150,861 "
<NUMBER-OF-SHARES-REDEEMED> "(119,273)"
<SHARES-REINVESTED> "15,998 "
<NET-CHANGE-IN-ASSETS> "557,872 "
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (736)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "(30,539)"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "(100,193)"
<AVERAGE-NET-ASSETS> "6,108,058 "
<PER-SHARE-NAV-BEGIN> 10.19
<PER-SHARE-NII> 0.31
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> (0.31)
<PER-SHARE-DISTRIBUTIONS> (0.08)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.12
<EXPENSE-RATIO> 1.65
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 104
<NAME> EVERGREEN SHORT INTERMEDIATE MUNICIPAL BOND FUND CLASS Y
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-START> JUN-01-1998
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> "181,211,079 "
<INVESTMENTS-AT-VALUE> "182,386,531 "
<RECEIVABLES> "2,872,760 "
<ASSETS-OTHER> "20,498 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "185,279,789 "
<PAYABLE-FOR-SECURITIES> "9,519,941 "
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "1,227,519 "
<TOTAL-LIABILITIES> "10,747,460 "
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "158,199,102 "
<SHARES-COMMON-STOCK> "15,838,905 "
<SHARES-COMMON-PRIOR> "16,472,867 "
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> "(18,365)"
<ACCUMULATED-NET-GAINS> "918,753 "
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "1,225,743 "
<NET-ASSETS> "160,325,233 "
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "7,551,959 "
<OTHER-INCOME> 0
<EXPENSES-NET> "(1,032,722)"
<NET-INVESTMENT-INCOME> "6,519,237 "
<REALIZED-GAINS-CURRENT> "1,778,257 "
<APPREC-INCREASE-CURRENT> "(1,726,820)"
<NET-CHANGE-FROM-OPS> "6,570,674 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(6,537,604)"
<DISTRIBUTIONS-OF-GAINS> "(1,185,596)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "4,363,929 "
<NUMBER-OF-SHARES-REDEEMED> "(5,186,456)"
<SHARES-REINVESTED> "188,565 "
<NET-CHANGE-IN-ASSETS> "(7,590,474)"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> "(18,365)"
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "(806,335)"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "(1,032,722)"
<AVERAGE-NET-ASSETS> "161,248,946 "
<PER-SHARE-NAV-BEGIN> 10.19
<PER-SHARE-NII> 0.41
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> (0.41)
<PER-SHARE-DISTRIBUTIONS> (0.08)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.12
<EXPENSE-RATIO> 0.65
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
