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<PAGE> PAGE 2
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<PAGE> PAGE 4
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SIGNATURE JAMES COLANTINO
TITLE SENIOR ADMINISTRATOR
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<NAME> COLORADO DOUBLE TAX EXEMPT BOND FUND
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Independent Auditor's Report
To the Shareholders and Board of Directors
Colorado Double Tax-Exempt Bond Fund, Inc.
In planning and performing our audit of the financial
statements of Colorado Double Tax-Exempt Bond Fund,
Inc. for the year ended December 31, 1998, we
considered its internal control, including control
activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and
to comply with the requirements of Form N-SAR, not to
provide assurance on internal control.
The management of Colorado Double Tax-Exempt Bond
Fund, Inc. is responsible for establishing and
maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management
are required to assess the expected benefits and
related costs of controls. Generally, controls that
are relevant to an audit pertain to the entity's
objective of preparing financial statements for
external purposes that are fairly presented in
conformity with generally accepted accounting
principles. Those controls include the safeguarding of
assets against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal control,
error or fraud may occur and not be detected. Also,
projection of any evaluation of internal control to
future periods is subject to the risk that it may
become inadequate because of changes in conditions or
that the effectiveness of the design and operation may
deteriorate.
Our consideration of internal control would not
necessarily disclose all matters in internal control
that might be material weaknesses under standards
established by the American Institute of Certified
Public Accountants. A material weakness is a condition
in which the design or operation of one or more of the
internal control components does not reduce to a
relatively low level the risk that misstatements caused
by error or fraud in amounts that would be material in
relation to the financial statements being audited may
occur and not be detected within a timely period by
employees in the normal course of performing their
assigned functions. However, we noted no matters
involving internal control and its operation, including
controls for safeguarding securities, that we consider
to be material weaknesses as defined above as of
December 31, 1998.
This report is intended solely for the information and
use of management, the Board of Directors of Colorado
Double Tax-Exempt Bond Fund, Inc., and the Securities
and Exchange Commission and is not intended to be and
should not be used by anyone other than these specified
parties.
BAIRD, KURTZ & DOBSON
Denver, Colorado
February 16, 1999
