SUPPLEMENT TO THE
SPARTAN(registered trademark) CALIFORNIA
MUNICIPAL FUNDS
PROSPECTUS
DATED APRIL 18, 1994
The following information
replaces the similar
information found in the
"Charter" section beginning
on page 11.
Jonathan D. Short is
manager of Spartan
California Municipal High
Yield and Spartan California
Intermediate Municipal, both
of which he has managed
since March 1995. Mr. Short
also manages California
Tax-Free High Yield and
California Tax-Free Insured.
Previously, he was a
municipal bond analyst and
assistant manager of High
Yield Tax-Free. Mr. Short
joined Fidelity in 1990, after
receiving his MBA from
Northwestern University.
The following information
replaces similar information
found under "Expenses"
beginning on page 4.
EXPENSES
SHAREHOLDER TRANSACTION
EXPENSES are charges you
pay when you buy, sell, or
hold shares of a fund. See
page 27 for more information
about these fees.
Deferred sales charge on
redemptions None
Redemption fee (on shares held
less than 180 days)
for Spartan CA Money Market N
one
for Spartan CA Intermediate No
ne
for Spartan CA High Yield .50%
Exchange and wire transaction
fees $5.00
Checkwriting fee, per check
written
(available for Spartan CA Money
Market
and Spartan CA Intermediate) $
2.00
Account closeout fee $5.00
Annual account maintenance fee
$12.00
(for accounts under $2,500)
SPARTAN CA MONEY MARKET
Management fee (after
reimbursement) .30 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.30 %
SPARTAN CA INTERMEDIATE
Management fee (after
reimbursement) .10 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.10 %
SPARTAN CA MONEY MARKET
Account Accou
nt
open closed
After 1 year $3 $8
After 3 years $10 $15
After 5 years $17 $22
After 10 years $38 $43
SUPPLEMENT TO THE
SPARTAN(registered trademark) CALIFORNIA
MUNICIPAL FUNDS
PROSPECTUS
DATED APRIL 18, 1994
The following information
replaces the similar
information found in the
"Charter" section beginning
on page 11.
Jonathan D. Short is
manager of Spartan
California Municipal High
Yield and Spartan California
Intermediate Municipal, both
of which he has managed
since March 1995. Mr. Short
also manages California
Tax-Free High Yield and
California Tax-Free Insured.
Previously, he was a
municipal bond analyst and
assistant manager of High
Yield Tax-Free. Mr. Short
joined Fidelity in 1990, after
receiving his MBA from
Northwestern University.
The following information
replaces similar information
found under "Expenses"
beginning on page 4.
EXPENSES
SHAREHOLDER TRANSACTION
EXPENSES are charges you
pay when you buy, sell, or
hold shares of a fund. See
page 27 for more information
about these fees.
Deferred sales charge on
redemptions None
Redemption fee (on shares held
less than 180 days)
for Spartan CA Money Market N
one
for Spartan CA Intermediate No
ne
for Spartan CA High Yield .50%
Exchange and wire transaction
fees $5.00
Checkwriting fee, per check
written
(available for Spartan CA Money
Market
and Spartan CA Intermediate) $
2.00
Account closeout fee $5.00
Annual account maintenance fee
$12.00
(for accounts under $2,500)
SPARTAN CA MONEY MARKET
Management fee (after
reimbursement) .30 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.30 %
SPARTAN CA INTERMEDIATE
Management fee (after
reimbursement) .10 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.10 %
SPARTAN CA MONEY MARKET
Account Accou
nt
open closed
After 1 year $3 $8
After 3 years $10 $15
After 5 years $17 $22
After 10 years $38 $43
SCR-9 5-2 (PAGE 1 OF 2) March 27, 1995
SCR-9 5-2 (PAGE 1 OF 2) March 27, 1995
SPARTAN CA INTERMEDIATE
Account Accou
nt
open closed
After 1 year $1 $6
After 3 years $3 $8
After 5 years $6 $11
After 10 years $13 $18
FMR has voluntarily agreed
to temporarily limit Spartan
California Municipal Money
Market's operating expenses
to .30% of its average net
assets, and Spartan
California Intermediate
Municipal's operating
expenses to .10% of its
average net assets. If these
agreements were not in
effect, the management fee,
other expenses, and total
operating expenses would be
.50%, .00%, and .50%,
respectively, for Spartan
California Municipal Money
Market and .55%, .00%, and
.55%, respectively, for
Spartan California
Intermediate Municipal.
Expenses eligible for
reimbursement do not
include interest, taxes,
brokerage commissions, or
extraordinary expenses.
The following paragraph
supplements the information
found in the section entitled
"Transaction Details"
beginning on page 20.
FIDELITY RESERVES THE RIGHT
TO DEDUCT AN ANNUAL
MAINTENANCE FEE of $12.00
from accounts with a value of
less than $2,500, subject to
an annual maximum charge
of $60.00 per shareholder. It
is expected that accounts will
be valued on the second
Friday in November of each
year. Accounts opened after
September 30 will not be
subject to the fee for that
year. The fee, which is
payable to the transfer agent,
is designed to offset in part
the relatively higher costs of
servicing smaller accounts.
The fee will not be deducted
from retirement accounts,
accounts using regular
investment plans, or if total
assets in Fidelity funds
exceed $50,000. Eligibility
for the $50,000 waiver is
determined by aggregating
Fidelity mutual fund accounts
maintained by FSC or FBSI
which are registered under
the same social security
number or which list the
same social security number
for the custodian of a
Uniform Gifts/Transfers to
Minors Act account.
SPARTAN CA INTERMEDIATE
Account Accou
nt
open closed
After 1 year $1 $6
After 3 years $3 $8
After 5 years $6 $11
After 10 years $13 $18
FMR has voluntarily agreed
to temporarily limit Spartan
California Municipal Money
Market's operating expenses
to .30% of its average net
assets, and Spartan
California Intermediate
Municipal's operating
expenses to .10% of its
average net assets. If these
agreements were not in
effect, the management fee,
other expenses, and total
operating expenses would be
.50%, .00%, and .50%,
respectively, for Spartan
California Municipal Money
Market and .55%, .00%, and
.55%, respectively, for
Spartan California
Intermediate Municipal.
Expenses eligible for
reimbursement do not include
interest, taxes, brokerage
commissions, or
extraordinary expenses.
The following paragraph
supplements the information
found in the section entitled
"Transaction Details"
beginning on page 20.
FIDELITY RESERVES THE RIGHT
TO DEDUCT AN ANNUAL
MAINTENANCE FEE of $12.00
from accounts with a value of
less than $2,500, subject to
an annual maximum charge
of $60.00 per shareholder. It
is expected that accounts will
be valued on the second
Friday in November of each
year. Accounts opened after
September 30 will not be
subject to the fee for that
year. The fee, which is
payable to the transfer agent,
is designed to offset in part
the relatively higher costs of
servicing smaller accounts.
The fee will not be deducted
from retirement accounts,
accounts using regular
investment plans, or if total
assets in Fidelity funds
exceed $50,000. Eligibility
for the $50,000 waiver is
determined by aggregating
Fidelity mutual fund accounts
maintained by FSC or FBSI
which are registered under
the same social security
number or which list the
same social security number
for the custodian of a Uniform
Gifts/Transfers to Minors Act
account.
(PAGE 2 OF 2)
(PAGE 2 OF 2)
SUPPLEMENT TO THE
SPARTAN(registered trademark) CALIFORNIA
MUNICIPAL FUNDS
PROSPECTUS
DATED APRIL 18, 1994
The following information
replaces the similar information
found in the "Charter" section
beginning on page 11.
Jonathan D. Short is manager
of Spartan California Municipal
High Yield and Spartan
California Intermediate
Municipal, both of which he has
managed since March 1995.
Mr. Short also manages
California Tax-Free High Yield
and California Tax-Free
Insured. Previously, he was a
municipal bond analyst and
assistant manager of High Yield
Tax-Free. Mr. Short joined
Fidelity in 1990, after receiving
his MBA from Northwestern
University.
The following information
replaces similar information
found under "Expenses"
beginning on page 4.
EXPENSES
SHAREHOLDER TRANSACTION
EXPENSES are charges you pay
when you buy, sell, or hold
shares of a fund. See page 27
for more information about
these fees.
Deferred sales charge on
redemptions None
Redemption fee (on shares held
less than 180 days)
for Spartan CA Money Market Non
e
for Spartan CA Intermediate None
for Spartan CA High Yield .50%
Exchange and wire transaction
fees $5.00
Checkwriting fee, per check written
(available for Spartan CA Money
Market
and Spartan CA Intermediate) $2.
00
Account closeout fee $5.00
Annual account maintenance fee $
12.00
(for accounts under $2,500)
SPARTAN CA MONEY MARKET
Management fee (after
reimbursement) .30 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.30 %
SPARTAN CA INTERMEDIATE
Management fee (after
reimbursement) .10 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.10 %
SPARTAN CA MONEY MARKET
Account Account
open closed
After 1 year $3 $8
After 3 years $10 $15
After 5 years $17 $22
After 10 years $38 $43
SUPPLEMENT TO THE
SPARTAN(registered trademark) CALIFORNIA
MUNICIPAL FUNDS
PROSPECTUS
DATED APRIL 18, 1994
The following information
replaces the similar information
found in the "Charter" section
beginning on page 11.
Jonathan D. Short is manager
of Spartan California Municipal
High Yield and Spartan
California Intermediate
Municipal, both of which he has
managed since March 1995.
Mr. Short also manages
California Tax-Free High Yield
and California Tax-Free
Insured. Previously, he was a
municipal bond analyst and
assistant manager of High Yield
Tax-Free. Mr. Short joined
Fidelity in 1990, after receiving
his MBA from Northwestern
University.
The following information
replaces similar information
found under "Expenses"
beginning on page 4.
EXPENSES
SHAREHOLDER TRANSACTION
EXPENSES are charges you pay
when you buy, sell, or hold
shares of a fund. See page 27
for more information about
these fees.
Deferred sales charge on
redemptions None
Redemption fee (on shares held
less than 180 days)
for Spartan CA Money Market Non
e
for Spartan CA Intermediate None
for Spartan CA High Yield .50%
Exchange and wire transaction
fees $5.00
Checkwriting fee, per check written
(available for Spartan CA Money
Market
and Spartan CA Intermediate) $2.
00
Account closeout fee $5.00
Annual account maintenance fee $
12.00
(for accounts under $2,500)
SPARTAN CA MONEY MARKET
Management fee (after
reimbursement) .30 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.30 %
SPARTAN CA INTERMEDIATE
Management fee (after
reimbursement) .10 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.10 %
SPARTAN CA MONEY MARKET
Account Account
open closed
After 1 year $3 $8
After 3 years $10 $15
After 5 years $17 $22
After 10 years $38 $43
SCR-9 5-2 (PAGE 1 OF 2) March 27, 1995
SCR-9 5-2 (PAGE 1 OF 2) March 27, 1995
