SPARTAN(Registered trademark) NEW YORK MUNICIPAL FUNDS
SUPPLEMENT TO THE PROSPECTUS
DATED MARCH 21, 1993
The following information supplements that found in the section entitled
"Exchange Privilege" on page 16.
FEES. YOU MAY BE CHARGED A FEE OF $5.00 FOR EACH EXCHANGE YOU MAKE
OUT OF THE FUND, unless you place your transaction on Fidelity's
automated
exchange services. If applicable, the exchange fee will be deducted from
your exchange proceeds.
SHAREHOLDER MEETING . On January 19, 1994, a meeting of the
shareholders of Spartan New York Municipal Money Market Portfolio (the
fund) will be held for the purpose of voting on the conversion (the
Conversion) of the fund from a Massachusetts business trust to a
Delaware
business trust (the Delaware Trust). If approved, the Conversion will
become effective at the close of business on, or about, March 20, 1994.
Upon completion of the Conversion, each current fund shareholder will be
the owner of full and fractional Delaware Trust series shares equal in
number and value to his or her current fund shares. Principal
differences
between the Massachusetts business trust and the Delaware business trust
form of organization are discussed in the proxy statement dated November
23, 1993 distributed in connection with the January 19, 1994 fund
shareholder meeting.
Shareholders will also consider proposals to modify certain fundamental
investment policies and limitations. One of these proposals amends the
fund's
current fundamental policy concerning the tax-exempt status of its
distributions. The proposal would require the fund to invest at least
65% of its
total assets in New York State and City tax-free obligations, and to
invest so
that at least 80% of its income distributions would be exempt from
federal
income tax.
A copy of the proxy statement can be obtained free of charge by calling
Fidelity Distributors Corporation at 1-800-544-888.
The following information replaces that found in the 3rd sentence of the
2nd paragraph in the section entitled "Investment Objectives and Policies"
beginning on page 4.
"State tax-free obligations include obligations issued by the State
of New York, or its counties, municipalities, authorities or other
political subdivisions, and municipal obligations issued by
territories and possessions of the U.S., such as Puerto Rico,
Guam, and the Virgin Islands."
SNR-94-1 (page 1 of 2) January 1, 1994
SPARTAN(Registered trademark) NEW YORK MUNICIPAL FUNDS
SUPPLEMENT TO THE PROSPECTUS
DATED MARCH 21, 1993
The following information supplements that found in the section entitled
"Exchange Privilege" on page 16.
FEES. YOU MAY BE CHARGED A FEE OF $5.00 FOR EACH EXCHANGE YOU MAKE
OUT OF THE FUND, unless you place your transaction on Fidelity's
automated
exchange services. If applicable, the exchange fee will be deducted from
your exchange proceeds.
SHAREHOLDER MEETING . On January 19, 1994, a meeting of the
shareholders of Spartan New York Municipal Money Market Portfolio (the
fund) will be held for the purpose of voting on the conversion (the
Conversion) of the fund from a Massachusetts business trust to a
Delaware
business trust (the Delaware Trust). If approved, the Conversion will
become effective at the close of business on, or about, March 20, 1994.
Upon completion of the Conversion, each current fund shareholder will be
the owner of full and fractional Delaware Trust series shares equal in
number and value to his or her current fund shares. Principal
differences
between the Massachusetts business trust and the Delaware business trust
form of organization are discussed in the proxy statement dated November
23, 1993 distributed in connection with the January 19, 1994 fund
shareholder meeting.
Shareholders will also consider proposals to modify certain fundamental
investment policies and limitations. One of these proposals amends the
fund's
current fundamental policy concerning the tax-exempt status of its
distributions. The proposal would require the fund to invest at least
65% of its
total assets in New York State and City tax-free obligations, and to
invest so
that at least 80% of its income distributions would be exempt from
federal
income tax.
A copy of the proxy statement can be obtained free of charge by calling
Fidelity Distributors Corporation at 1-800-544-888.
The following information replaces that found in the 3rd sentence of the
2nd paragraph in the section entitled "Investment Objectives and Policies"
beginning on page 4.
"State tax-free obligations include obligations issued by the State
of New York, or its counties, municipalities, authorities or other
political subdivisions, and municipal obligations issued by
territories and possessions of the U.S., such as Puerto Rico,
Guam, and the Virgin Islands."
SNR-94-1 (page 1 of 2) January 1, 1994
SPARTAN(Registered trademark) NEW YORK MUNICIPAL FUNDS
SUPPLEMENT TO THE PROSPECTUS
DATED MARCH 21, 1993
The following information supplements that found in the section entitled
"Exchange Privilege" on page 16.
FEES. YOU MAY BE CHARGED A FEE OF $5.00 FOR EACH EXCHANGE YOU MAKE
OUT OF THE FUND, unless you place your transaction on Fidelity's
automated
exchange services. If applicable, the exchange fee will be deducted from
your exchange proceeds.
SHAREHOLDER MEETING . On January 19, 1994, a meeting of the
shareholders of Spartan New York Municipal Money Market Portfolio (the
fund) will be held for the purpose of voting on the conversion (the
Conversion) of the fund from a Massachusetts business trust to a
Delaware
business trust (the Delaware Trust). If approved, the Conversion will
become effective at the close of business on, or about, March 20, 1994.
Upon completion of the Conversion, each current fund shareholder will be
the owner of full and fractional Delaware Trust series shares equal in
number and value to his or her current fund shares. Principal
differences
between the Massachusetts business trust and the Delaware business trust
form of organization are discussed in the proxy statement dated November
23, 1993 distributed in connection with the January 19, 1994 fund
shareholder meeting.
Shareholders will also consider proposals to modify certain fundamental
investment policies and limitations. One of these proposals amends the
fund's
current fundamental policy concerning the tax-exempt status of its
distributions. The proposal would require the fund to invest at least
65% of its
total assets in New York State and City tax-free obligations, and to
invest so
that at least 80% of its income distributions would be exempt from
federal
income tax.
A copy of the proxy statement can be obtained free of charge by calling
Fidelity Distributors Corporation at 1-800-544-888.
The following information replaces that found in the 3rd sentence of the
2nd paragraph in the section entitled "Investment Objectives and Policies"
beginning on page 4.
"State tax-free obligations include obligations issued by the State
of New York, or its counties, municipalities, authorities or other
political subdivisions, and municipal obligations issued by
territories and possessions of the U.S., such as Puerto Rico,
Guam, and the Virgin Islands."
SNR-94-1 (page 1 of 2) January 1, 1994
SPARTAN(Registered trademark) NEW YORK MUNICIPAL FUNDS
SUPPLEMENT TO THE PROSPECTUS
DATED MARCH 21, 1993
The following information supplements that found in the section entitled
"Exchange Privilege" on page 16.
FEES. YOU MAY BE CHARGED A FEE OF $5.00 FOR EACH EXCHANGE YOU MAKE
OUT OF THE FUND, unless you place your transaction on Fidelity's
automated
exchange services. If applicable, the exchange fee will be deducted from
your exchange proceeds.
SHAREHOLDER MEETING . On January 19, 1994, a meeting of the
shareholders of Spartan New York Municipal Money Market Portfolio (the
fund) will be held for the purpose of voting on the conversion (the
Conversion) of the fund from a Massachusetts business trust to a
Delaware
business trust (the Delaware Trust). If approved, the Conversion will
become effective at the close of business on, or about, March 20, 1994.
Upon completion of the Conversion, each current fund shareholder will be
the owner of full and fractional Delaware Trust series shares equal in
number and value to his or her current fund shares. Principal
differences
between the Massachusetts business trust and the Delaware business trust
form of organization are discussed in the proxy statement dated November
23, 1993 distributed in connection with the January 19, 1994 fund
shareholder meeting.
Shareholders will also consider proposals to modify certain fundamental
investment policies and limitations. One of these proposals amends the
fund's
current fundamental policy concerning the tax-exempt status of its
distributions. The proposal would require the fund to invest at least
65% of its
total assets in New York State and City tax-free obligations, and to
invest so
that at least 80% of its income distributions would be exempt from
federal
income tax.
A copy of the proxy statement can be obtained free of charge by calling
Fidelity Distributors Corporation at 1-800-544-888.
The following information replaces that found in the 3rd sentence of the
2nd paragraph in the section entitled "Investment Objectives and Policies"
beginning on page 4.
"State tax-free obligations include obligations issued by the State
of New York, or its counties, municipalities, authorities or other
political subdivisions, and municipal obligations issued by
territories and possessions of the U.S., such as Puerto Rico,
Guam, and the Virgin Islands."
SNR-94-1 (page 1 of 2) January 1, 1994
