November 28, 1995
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Rule 24f-2 Notice for AARP Tax Free Income Trust (Securities
Act Registration Statement File No.2-91579) for Fiscal Year
Ended September 30, 1995
Dear Sir/Madam:
In accordance with the provisions of Rule 24f-2, AARP Tax Free Income Trust (the
"Trust") hereby files its Rule 24f-2 Notice for the fiscal year ended September
30, 1995.
a) No shares of beneficial interest of the Trust had been registered under
the Securities Act of 1933 (other than pursuant to Rule 24f-2) and
remained unsold at the beginning of the fiscal year.
b) 8,528,000 shares of beneficial interest of the Trust were registered
during the year other than pursuant to Rule 24f-2.
c) 48,612,386 shares of beneficial interest of the Trust were sold during
the fiscal year. (See Schedule A.)
d) 48,612,386 shares of beneficial interest of the Trust were sold during
the fiscal year in reliance upon the Trust's declaration in its
registration statement which became effective November 30, 1984, of the
registration of an indefinite amount of securities under Rule 24f-2.
Attached to the Rule 24f-2 Notice, and made a part hereof, is an
opinion of counsel indicating that the securities, the registration of
which the notice makes definite in number, were legally issued, fully
paid and non-assessable.
In accordance with subsection (c) of Rule 24f-2, no fee is required since the
actual aggregate sale price for which such securities were sold during the
fiscal year was reduced by the difference between:
(1) The actual aggregate redemption price of the shares redeemed
by the Trust during the fiscal year, and
(2) The actual aggregate redemption price of such redeemed shares
previously applied by the Trust pursuant to Rule 24e-2(a) in
filings made pursuant to Section 24(e)(1) of the Investment
Company Act of 1940.
<PAGE>
<TABLE>
<CAPTION>
<C> <C> <C>
Aggregate Sale Price For All Shares Sold During Fiscal Year Pursuant to Rule $169,936,803
24f-2
Reduced by the Difference Between
1) Aggregate Redemption Price of Shares Redeemed during the Fiscal Year $425,690,244
and,
2) Aggregate Redemption Price of Redeemed Shares Previously Applied by -0- $425,690,244
Fund Pursuant to Rule 24e-2(a) in Filings made pursuant to Section ------ ------------
24(e)(1) of Investment Company Act of 1940
$(255,753,441)
=============
</TABLE>
Any questions regarding the matter should be addressed to me at Scudder, Stevens
& Clark, Inc., Two International Place, Boston, MA 02110-4103.
Very truly yours,
/s/Thomas F. McDonough
Thomas F. McDonough
Assistant Secretary
<TABLE>
SCHEDULE A
<CAPTION>
Shares Sold Shares Redeemed
----------- ---------------
Fund* Shares Amount Shares Amount
- ----- ------ ------ ------ ------
<C> <C> <C> <C> <C>
AARP High Quality Tax Free Money 41,129,795 $ 41,129,795 53,717,481 $ 53,717,481
Fund
AARP Insured Tax Free General Bond 7,482,591 $128,807,008 21,937,646 $371,972,763
Fund
TOTAL 48,612,386 $169,936,803 75,655,127 $425,690,244
<FN>
* The above named Funds are series of the Trust.
</FN>
</TABLE>
Law Offices of
DECHERT PRICE & RHOADS
Ten Post Office Square - South
Boston, MA 02109-4603
Telephone: (617) 728-7100
November 27, 1995
AARP Tax Free Income Trust
Two International Place
Boston, MA 02110
Dear Sirs:
As counsel for AARP Tax Free Income Trust (the "Fund") during the fiscal
year ended September 30, 1995, we are familiar with the Fund's registration
under the Investment Company Act of 1940 and with the registration statement
relating to its Shares of Beneficial Interest (the "Shares") under the
Securities Act of 1933 (File No. 2-91579) (the "Registration Statement"). We
have also examined such other corporate records, agreements, documents and
instruments as we deemed appropriate.
Based upon the foregoing, it is our opinion that the Shares sold at the
public offering price and delivered by the Fund against receipt of the net asset
value of the Shares in compliance with the terms of the Registration Statement
and the requirements of applicable law during the Fund's fiscal year ended
September 30, 1995, were, when sold, duly and validly authorized, legally and
validly issued, and fully paid and non-assessable by the Fund.
We consent to the filing of this opinion in connection with the Notice
pursuant to Rule 24f-2 under the Investment Company Act of 1940 for the fiscal
year ended September 30, 1995 to be filed on behalf of the Fund with the
Securities and Exchange Commission.
Very truly yours,
/s/ Dechert Price & Rhoads
