SPARTAN(REGISTERED TRADEMARK) CALIFORNIA MUNICIPAL FUNDS
SUPPLEMENT TO THE PROSPECTUS DATED APRIL 16, 1993
SHAREHOLDER MEETING. On February16, 1994, a meeting of the shareholders
of Spartan California Municipal Money Market Portfolio (the fund) was 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). The Conversion will become effective at the close of
business on, or about, April 18, 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.
Shareholders also considered proposals to modify certain fundamental
investment policies and limitations. One of these proposals amended the
fund's current fundamental policy concerning the tax-exempt status of its
distributions. The fund is now required to invest at least 65% of its
total assets in California State tax-free obligations, and to invest so
that at least 80% of its income distributions are exempt from federal
income tax.
SCR-94-1R February 16, 1994
