CALVERT MUNICIPAL FUND, INC.
CALVERT ARIZONA MUNICIPAL INTERMEDIATE FUND
CALVERT MICHIGAN MUNICIPAL INTERMEDIATE FUND
CALVERT NEW YORK MUNICIPAL INTERMEDIATE FUND
CALVERT PENNSYLVANIA MUNICIPAL INTERMEDIATE FUND
FIRST VARIABLE RATE FUND FOR GOVERNMENT INCOME
CALVERT FLORIDA MUNICIPAL INTERMEDIATE FUND
Prospectus dated April 30, 1997
Date of Supplement: January 7, 1998
The following is added to the cover page of the Prospectus:
The Board of Trustees/Directors have approved a resolution to "merge"
the Calvert Arizona Municipal Intermediate Fund, Calvert Michigan
Municipal Intermediate Fund, Calvert New York Municipal Intermediate
Fund and Calvert Pennsylvania Municipal Intermediate Fund, series of
the Calvert Municipal Fund, Inc. , and the Calvert Florida Municipal
Intermediate Fund, a series of First Variable Rate Fund for
Government Income, (together, the "State Municipal Funds"), into the
Calvert National Municipal Intermediate Fund (the "National Municipal
Fund"), a series of the Calvert Municipal Fund, Inc.
The State Municipal Funds shareholders will be asked to vote on the
proposed merger and must approve the transaction before any change
may take place. If shareholders approve the transaction, your shares
of the respective State Municipal Funds will be exchanged for shares
of the National Municipal Fund. The number of National Municipal Fund
shares you receive will depend on the value of your State Municipal
Funds shares at the time the merger takes place.
A filing is being made with the Securities Exchange Commission
detailing the proposed changes pursuant to the merger. It will be
sent to shareholders further explaining the proposed Agreement and
Plan of Reorganization, which will not be implemented before
shareholder approval. Nonetheless, effective February 6, 1998, the
State Municipal Funds will be closed to new accounts.
