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SIGNATURE THEODORE W. HOWARD
TITLE V.P. & TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764842
<NAME> UNITED GOLD & GOVERNMENT FUND, INC.
<S> <C>
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</TABLE>
EX-99.B-77C
UNITED GOLD & GOVERNMENT FUND, INC.
SUB-ITEM 77C: Submission of matters to a vote of security
holders:
(a) A Special Meeting of Shareholders was held June 22, 1999.
(b) Auditors were approved.
(c) Matters voted upon at the Special Meeting:
Item 1. To elect the Board of Directors:
Broker
For Withhold Non-Votes*
J. Concannon 973,757 63,309 0
J. Dillingham 970,382 66,684 0
D. Gardner 968,575 68,491 0
L. Graves 967,331 69,735 0
J. Harroz Jr. 671,489 65,577 0
J. Hayes 964,071 72,995 0
R. Hechler 972,998 64,068 0
H. Herrmann 972,209 64,857 0
G. Johnson 966,828 70,238 0
W. Morgan 673,807 63,259 0
R. Reimer 964,124 72,942 0
F. Ross 970,652 66,414 0
E. Schwartz 974,553 62,513 0
K. Tucker 974,170 62,896 0
F. Vogel 975,161 61,905 0
Item 2. To ratify the selection of Deloitte & Touche LLP as the Fund's
independent accountants for its current fiscal year:
Broker
For Against Abstain Non-Votes*
980,169 10,145 46,752 0
Item 3. To approve or disapprove the amendment to the Fund's investment
management agreement with Waddell & Reed Investment Management Company:
Broker
For Against Abstain Non-Votes*
839,319 140,624 57,123 0
Item 4. To approve or disapprove amendment of the Fund's policy regarding
securities lending:
Broker
For Against Abstain Non-Votes*
878,319 86,126 71,844 777
Item 5. To approve or disapprove the Fund's Articles of Incorporation to
change the par value of Fund shares to $0.001:
For Against Abstain
891,643 68,649 76,774
*Broker non-votes are proxies received by the Fund from brokers or nominees when
the broker or nominee neither has received instructions from the beneficial
owner or other persons entitled to vote nor has discretionary power to vote on a
particular matter.
(d) Not applicable
EX-99.B-77C
UNITED GOLD & GOVERNMENT FUND, INC.
SUB-ITEM 77C: Submission of matters to a vote of security
holders:
(a) A Special Meeting of Shareholders was held June 28, 1999.
(b) Auditors were approved.
(c) Matters voted upon at the Special Meeting:
Item 1. To approve or disapprove an Agreement and Plan
of Reorganization and Termination:
For Against Abstain
1,015,920 125,006 51,563
(d) Not applicable
Exhibit 77M
(a) United Asset Strategy Fund, Inc.
(b) On April 6, 1999 the Boards of Directors of United Asset Strategy Fund,
Inc. ("Asset Strategy") and United Gold & Government Fund, Inc. ("Gold &
Government") respectfully determined the proposed Agreement and Plan of
Reorganization and Termination ("Agreement") between United Gold & Government
Fund, Inc. and United Asset Strategy Fund, Inc. to be in the best interests of
each of the Funds as well as the shareholders of each of the Funds.
The Gold & Government Board of Directors established April 12, 1999 as the
record date and approved submission of the proposed merger to Gold & Government
shareholders to be voted on at a special meeting to be held June 22, 1999. The
meeting was adjourned on June 22, 1999 to June 28, 1999. On June 28, 1999 a
majority of the outstanding shares of Gold & Government voted in favor of the
Agreement, to become effective June 30, 1999.
The terms of the Agreement are such that Asset Strategy acquired all of the
assets of Gold & Government in exchange solely for shares of Asset Strategy and
the assumption by Asset Strategy of all of Gold & Government's liabilities,
followed by the distribution of those shares to the shareholders of Gold &
Government.
Articles of Dissolution, dated August 11, 1999, have been filed, on behalf
of Gold & Government, with the state of Maryland. Form N-8F for Gold &
Government has been prepared and, if not filed by the date of this filing, will
be filed shortly thereafter.
EX-99.B-77Q1(a)
UNITED GOLD & GOVERNMENT FUND, INC.
SUB-ITEM 77Q1(a) Changes to the registrant's bylaws:
AMENDMENT TO BYLAWS
RESOLVED, That the Bylaws of each of United Funds, Inc., United Asset
Strategy Fund, Inc., United Cash Management, Inc., United Continental Income
Fund, Inc., United Gold & Government Fund, Inc., United Government Securities
Fund, Inc., United High Income Fund, Inc., United High Income Fund II, Inc.,
United International Growth Fund, Inc., United Municipal Bond Fund, Inc., United
Municipal High Income Fund, Inc., United New Concepts Fund, Inc., United
Retirement Shares, Inc., United Vanguard Fund, Inc., Target/United Funds, Inc.
and Waddell & Reed Funds, Inc. are amended by substitution of the following for
the initial paragraph of Article I, Section 7, regarding voting and inspectors;
and, with respect to United Asset Strategy Fund, Inc., United Retirement Shares,
Inc. and Waddell & Reed Funds, Inc., for Article II, Section 2, regarding voting
and proxies:
At all meetings of the stockholders, every stockholder of record
entitled to vote thereat shall be entitled to vote either in person or
by proxy, which term shall include proxies provided by such
stockholder, or his duly authorized attorney, through written,
electronic, telephonic, computerized, facsimile, telecommunications,
telex or oral communication or by any other form of communication,
each pursuant to such voting procedures and through such systems as
are authorized by the Board of Directors or one or more executive
officers of the Corporation. No proxy which is dated or, if otherwise
provided as permitted by these Bylaws and applicable Maryland law,
provided more than three months before the meeting at which it is
offered shall be accepted, unless such proxy shall, on its face, name
or, if otherwise provided as permitted by these Bylaws and applicable
Maryland law, provide a longer period for which it is to remain in
force.
I certify that I am Assistant Secretary of each of the following
Corporations, and as such officer, have custody of the minute books of the
Corporations, and that the foregoing resolutions are true and correct
resolutions duly passed by the Board of Directors of each of the following
Corporations at a meeting held on February 10, 1999.
United Funds, Inc.
United Asset Strategy Fund, Inc.
United Cash Management, Inc.
United Continental Income Fund, Inc.
United Gold & Government Fund, Inc.
United Government Securities Fund, Inc.
United High Income Fund, Inc.
United High Income Fund II, Inc.
United International Growth Fund, Inc.
United Municipal Bond Fund, Inc.
United Municipal High Income Fund, Inc.
United New Concepts Fund, Inc.
United Retirement Shares, Inc.
United Vanguard Fund, Inc.
Target/United Funds, Inc.
Waddell & Reed Funds, Inc.
/s/Kristen A. Richards
-----------------------------------------
Kristen A. Richards, Assistant Secretary
Dated this 10th day of February, 1999.
