AMERICAN CENTURY CALIFORNIA TAX-FREE AND MUNICIPAL FUNDS, INC.
PROSPECTUS SUPPLEMENT
California Tax-Free Money
Market o California Municipal Money
Market o California Limited-Term Tax-Free o
California Intermediate-Term Tax-Free o
California Long-Term Tax-Free o
California High-Yield Municipal o California
Insured Tax-Free
SUPPLEMENT DATED JANUARY 15, 1998
Prospectus dated December 15, 1997
The following disclosure replaces the paragraph under the heading "Cash
Management" found on page 19.
Each of the Funds may invest up to 5% of its total assets in any money
market fund, including those advised by the manager, provided that the
investment is consistent with the fund's investment policies and restrictions.
The following disclosure is added on page 27 of the Prospectus, following the
last paragraph under the heading "When Share Price is Determined."
We have contractual relationships with certain financial intermediaries in
which such intermediaries represent that they have systems to track the time at
which investment orders are received and to segregate orders received at
different times. Based on these representations, the Fund has authorized such
intermediaries and their designees to accept purchase and redemption orders on
the Fund's behalf up to the applicable cut-off time. The Fund will be deemed to
have received such orders upon acceptance by the duly authorized intermediary,
and such orders will be priced at the Fund's net asset value next determined
after acceptance on the fund's behalf by such intermediary.
The following disclosure is added following the last paragraph under the heading
"Transfer and Administrative Services" found on page 32 of the Prospectus.
Pursuant to a Sub-Administration Agreement with the manager, Funds
Distributor, Inc. (FDI) serves as the Co-Administrator for the Funds. FDI is
responsible for (i) providing certain officers of the Funds and (ii) reviewing
and filing marketing and sales literature on behalf of the Funds. The fees and
expenses of FDI are paid by the manager.
The following disclosure replaces the first sentence under the heading
"Distribution of Fund Shares" found on page 32 of the Prospectus.
The funds' shares are distributed by FDI, a registered broker-dealer (the
Distributor). FDI is a wholly-owned indirect subsidiary of Boston Institutional
Group, Inc. FDI's principal business address is 60 State Street, Suite 1300,
Boston, Massachusetts 02109.
The following disclosure should be inserted as the last paragraph under the
heading "Distribution of Fund Shares" on page 32 of the Prospectus.
Investors may open accounts with American Century only through the
Distributor. All purchase transactions in the Funds offered by this Prospectus
are processed by the transfer agent, which is authorized to accept any
instructions relating to fund accounts. All purchase orders must be accepted by
the Distributor.
P.O. Box 419200 [american century logo]
Kansas City, Missouri American
64141-6200 Century(reg.sm)
1-800-345-2021 or 816-531-5575
SH-SPL-11268 9801
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AMERICAN CENTURY CALIFORNIA TAX-FREE AND MUNICIPAL FUNDS, INC.
BROKERAGE PROSPECTUS SUPPLEMENT
California Tax-Free Money Market
SUPPLEMENT DATED JANUARY 15, 1998
Prospectus dated December 15, 1997
The following disclosure should be inserted after the section "Rule 144A
Securities" found on page 9 of the Prospectus.
CASH MANAGEMENT
The fund may invest up to 5% of its total assets in any money market fund,
including those advised by the manager, provided that the investment is
consistent with the fund's investment policies and restrictions.
The following disclosure is added on page 12 of the Prospectus, following the
last paragraph under the heading "When Share Price is Determined."
We have contractual relationships with certain financial intermediaries in
which such intermediaries represent that they have systems to track the time at
which investment orders are received and to segregate orders received at
different times. Based on these representations, the fund has authorized such
intermediaries and their designees to accept purchase and redemption orders on
the fund's behalf up to the applicable cut-off time. The fund will be deemed to
have received such orders upon acceptance by the duly authorized intermediary,
and such orders will be priced at the fund's net asset value next determined
after acceptance on the fund's behalf by such intermediary.
The following disclosure is added following the last paragraph under the heading
"Transfer and Administrative Services" on page 16 of the Prospectus.
Pursuant to a Sub-Administration Agreement with the manager, Funds
Distributor, Inc. (FDI) serves as the Co-Administrator for the fund. FDI is
responsible for (i) providing certain officers of the fund and (ii) reviewing
and filing marketing and sales literature on behalf of the fund. The fees and
expenses of FDI are paid by the manager.
The following disclosure replaces the first sentence under the heading
"Distribution of Fund Shares" on page 17 of the Prospectus.
The fund's shares are distributed by FDI, a registered broker-dealer (the
Distributor). FDI is a wholly-owned indirect subsidiary of Boston Institutional
Group, Inc. FDI's principal business address is 60 State Street, Suite 1300,
Boston, Massachusetts 02109.
The following disclosure should be inserted as the last paragraph under the
heading "Distribution of Fund Shares" on page 17 of the Prospectus.
Investors may open accounts with American Century only through the
Distributor. All purchase transactions in the fund offered by this Prospectus
are processed by the transfer agent, which is authorized to accept any
instructions relating to fund accounts. All purchase orders must be accepted by
the Distributor.
P.O. Box 419146 [american century logo]
Kansas City, Missouri American
64141-6146 Century(reg.sm)
1-888-345-2071 or 816-531-5575 Brokerage
BK-SPL-11422 9801
