<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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SIGNATURE DENNIS J MCDONNELL
TITLE PRES, CEO & TRUSTEE
KPMG Peat Marwick LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-9973
The Board of Trustees and Shareholders of
Van Kampen American Capital Insured Tax Free Income Fund:
In planning and performing our audit of the financial statements
of Van Kampen American Capital Insured Tax Free Income Fund (the
"Fund") for the year ended December 31, 1996, we considered its
internal control structure, including procedures 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 the internal control structure.
The management of the Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgements by management are
required to assess the expected benefits and related costs of
internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance
with management's authorization and recorded properly to
permit preparation of financial statements in accordance with
generally accepted accounting principles.
Because of inherent limitations in any system of internal control
structure, errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of the structure 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 the internal control structure would not
necessarily disclose all matters in the internal control
structure 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 the specific internal control structure
elements does not reduce to a relatively low level the risk that
errors or irregularities 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 the internal control structure, including
procedures for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1996.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
KPMG Peat Marwick LLP
January 30, 1997
KPMG Peat Marwick LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-9973
The Board of Trustees and Shareholders of
Van Kampen American Capital Tax Free High Income Fund:
In planning and performing our audit of the financial statements
of Van Kampen American Capital Tax Free High Income Fund (the
"Fund") for the year ended December 31, 1996, we considered its
internal control structure, including procedures 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 the internal control structure.
The management of the Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgements by management are
required to assess the expected benefits and related costs of
internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance
with management's authorization and recorded properly to
permit preparation of financial statements in accordance with
generally accepted accounting principles.
Because of inherent limitations in any system of internal control
structure, errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of the structure 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 the internal control structure would not
necessarily disclose all matters in the internal control
structure 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 the specific internal control structure
elements does not reduce to a relatively low level the risk that
errors or irregularities 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 the internal control structure, including
procedures for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1996.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
KPMG Peat Marwick LLP
January 30, 1997
KPMG Peat Marwick LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-9973
The Board of Trustees and Shareholders of
Van Kampen American Capital California Insured Tax Free Fund:
In planning and performing our audit of the financial statements
of Van Kampen American Capital California Insured Tax Free Fund (the
"Fund") for the year ended December 31, 1996, we considered its
internal control structure, including procedures 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 the internal control structure.
The management of the Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgements by management are
required to assess the expected benefits and related costs of
internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance
with management's authorization and recorded properly to
permit preparation of financial statements in accordance with
generally accepted accounting principles.
Because of inherent limitations in any system of internal control
structure, errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of the structure 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 the internal control structure would not
necessarily disclose all matters in the internal control
structure 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 the specific internal control structure
elements does not reduce to a relatively low level the risk that
errors or irregularities 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 the internal control structure, including
procedures for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1996.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
KPMG Peat Marwick LLP
January 30, 1997
KPMG Peat Marwick LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-9973
The Board of Trustees and Shareholders of
Van Kampen American Capital Municipal Income Fund:
In planning and performing our audit of the financial statements
of Van Kampen American Capital Municipal Income Fund (the
"Fund") for the year ended December 31, 1996, we considered its
internal control structure, including procedures 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 the internal control structure.
The management of the Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgements by management are
required to assess the expected benefits and related costs of
internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance
with management's authorization and recorded properly to
permit preparation of financial statements in accordance with
generally accepted accounting principles.
Because of inherent limitations in any system of internal control
structure, errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of the structure 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 the internal control structure would not
necessarily disclose all matters in the internal control
structure 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 the specific internal control structure
elements does not reduce to a relatively low level the risk that
errors or irregularities 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 the internal control structure, including
procedures for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1996.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
KPMG Peat Marwick LLP
January 30, 1997
KPMG Peat Marwick LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-9973
The Board of Trustees and Shareholders of
Van Kampen American Capital Intermediate Term Municipal Income Fund:
In planning and performing our audit of the financial statements
of Van Kampen American Capital Intermediate Term Municipal Income Fund
(the "Fund") for the year ended December 31, 1996, we considered its
internal control structure, including procedures 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 the internal control structure.
The management of the Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgements by management are
required to assess the expected benefits and related costs of
internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance
with management's authorization and recorded properly to
permit preparation of financial statements in accordance with
generally accepted accounting principles.
Because of inherent limitations in any system of internal control
structure, errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of the structure 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 the internal control structure would not
necessarily disclose all matters in the internal control
structure 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 the specific internal control structure
elements does not reduce to a relatively low level the risk that
errors or irregularities 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 the internal control structure, including
procedures for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1996.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
KPMG Peat Marwick LLP
January 30, 1997
KPMG Peat Marwick LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-9973
The Board of Trustees and Shareholders of
Van Kampen American Capital Florida Insured Tax Free Income Fund:
In planning and performing our audit of the financial statements
of Van Kampen American Capital Florida Insured Tax Free Income Fund
(the "Fund") for the year ended December 31, 1996, we considered its
internal control structure, including procedures 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 the internal control structure.
The management of the Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgements by management are
required to assess the expected benefits and related costs of
internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance
with management's authorization and recorded properly to
permit preparation of financial statements in accordance with
generally accepted accounting principles.
Because of inherent limitations in any system of internal control
structure, errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of the structure 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 the internal control structure would not
necessarily disclose all matters in the internal control
structure 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 the specific internal control structure
elements does not reduce to a relatively low level the risk that
errors or irregularities 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 the internal control structure, including
procedures for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1996.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
KPMG Peat Marwick LLP
January 30, 1997
KPMG Peat Marwick LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-9973
The Board of Trustees and Shareholders of
Van Kampen American Capital New Jersey Tax Free Income Fund:
In planning and performing our audit of the financial statements
of Van Kampen American Capital New Jersey Tax Free Income Fund (the
"Fund") for the year ended December 31, 1996, we considered its
internal control structure, including procedures 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 the internal control structure.
The management of the Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgements by management are
required to assess the expected benefits and related costs of
internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance
with management's authorization and recorded properly to
permit preparation of financial statements in accordance with
generally accepted accounting principles.
Because of inherent limitations in any system of internal control
structure, errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of the structure 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 the internal control structure would not
necessarily disclose all matters in the internal control
structure 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 the specific internal control structure
elements does not reduce to a relatively low level the risk that
errors or irregularities 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 the internal control structure, including
procedures for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1996.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
KPMG Peat Marwick LLP
January 30, 1997
KPMG Peat Marwick LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-9973
The Board of Trustees and Shareholders of
Van Kampen American Capital New York Tax Free Income Fund:
In planning and performing our audit of the financial statements
of Van Kampen American Capital New York Tax Free Income Fund (the
"Fund") for the year ended December 31, 1996, we considered its
internal control structure, including procedures 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 the internal control structure.
The management of the Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgements by management are
required to assess the expected benefits and related costs of
internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance
with management's authorization and recorded properly to
permit preparation of financial statements in accordance with
generally accepted accounting principles.
Because of inherent limitations in any system of internal control
structure, errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of the structure 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 the internal control structure would not
necessarily disclose all matters in the internal control
structure 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 the specific internal control structure
elements does not reduce to a relatively low level the risk that
errors or irregularities 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 the internal control structure, including
procedures for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1996.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
KPMG Peat Marwick LLP
January 30, 1997
NSAR ITEM 77C
Van Kampen American Capital Insured Tax Free Income Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Insured Tax
Free Income Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 46,567,291 Against 1,074,872
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 40,139,352 Against 1,557,838
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 47,455,138 Against 484,750
NSAR ITEM 77C
Van Kampen American Capital Tax Free High Income Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Tax Free High
Income Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 40,876,271 Against 1,113,658
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 31,103,417 Against 1,290,613
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 41,691,705 Against 380,219
NSAR ITEM 77C
Van Kampen American Capital California Insured Tax Free Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital California
Insured Tax Free Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 6,499,824 Against 195,936
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 5,092,326 Against 287,087
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 6,660,309 Against 81,901
NSAR ITEM 77C
Van Kampen American Capital Municipal Income Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Municipal
Income Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 47,094,342 Against 893,263
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 36,367,087 Against 1,458,845
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 47,728,518 Against 448,392
NSAR ITEM 77C
Van Kampen American Capital Intermediate Term Municipal Income Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Intermediate
Term Municipal Income Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 2,546,884 Against 47,774
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 1,665,695 Against 79,607
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 2,587,872 Against 34,231
NSAR ITEM 77C
Van Kampen American Capital Florida Insured Tax Free Income Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Florida
Insured Tax Free Income Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 1,717,181 Against 34,835
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 1,375,524 Against 60,933
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 1,746,421 Against 7,186
NSAR ITEM 77C
Van Kampen American Capital New Jersey Tax Free Income Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital New Jersey
Tax Free Income Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 732,926 Against 44,999
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 555,801 Against 48,782
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 758,225 Against 14,759
NSAR ITEM 77C
Van Kampen American Capital New York Tax Free Income Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital New York Tax
Free Income Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 774,415 Against 7,919
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 586,378 Against 15,595
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 787,081 Against 2,089
77M Form N-SAR
For the Annual Period Ending December 31, 1996:
VAN KAMPEN AMERICAN CAPITAL MUNICIPAL INCOME FUND
1. An Agreement and Plan of Reorganization* dated January 26, 1996 (the
"Plan") between the Van Kampen American Capital Tax Free Trust, on
behalf of its series, the Van Kampen American Capital Municipal Income
Fund ("Municipal Income Fund"), and the Van Kampen American Capital
Texas Tax Free Income Fund ("Texas Tax Free Income Fund"), was approved
by the Board of Trustees of the Municipal Income Fund on January 26,
1996. Following approval of the reorganization by the shareholders of
the Texas Tax Free Income Fund, the assets of the Texas Tax Free Income
Fund were transferred to the Municipal Income Fund equal to the value
of the aggregate net assets of the Texas Tax Free Income Fund
immediately prior to the transfer of assets of the Texas Tax Free
Income Fund to the Municipal Income Fund.
2. The above described reorganization was consummated on October 25, 1996
and the Texas Tax Free Income Fund distributed to its shareholders
shares of the Municipal Income Fund received in the reorganization.
The Texas Tax Free Income Fund had no assets or liabilities after
October 25, 1996 and is being terminated pursuant to Delaware law.
*As filed as part of Registrant's Proxy dated June 21, 1996.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 011
<NAME> VKAC Insured Tax Free Fund - Class A
<MULTIPLIER> 1000
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 1294436<F1>
<INVESTMENTS-AT-VALUE> 1394342<F1>
<RECEIVABLES> 25439<F1>
<ASSETS-OTHER> 41<F1>
<OTHER-ITEMS-ASSETS> 855<F1>
<TOTAL-ASSETS> 1420677<F1>
<PAYABLE-FOR-SECURITIES> 40514<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 19921<F1>
<TOTAL-LIABILITIES> 60435<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 1179723
<SHARES-COMMON-STOCK> 66727
<SHARES-COMMON-PRIOR> 69846
<ACCUMULATED-NII-CURRENT> (89)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 5144<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 99934<F1>
<NET-ASSETS> 1283668
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 84388<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (13804)<F1>
<NET-INVESTMENT-INCOME> 70584<F1>
<REALIZED-GAINS-CURRENT> 10646<F1>
<APPREC-INCREASE-CURRENT> (32869)<F1>
<NET-CHANGE-FROM-OPS> 48361<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (67667)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 29860
<NUMBER-OF-SHARES-REDEEMED> (35425)
<SHARES-REINVESTED> 2446
<NET-CHANGE-IN-ASSETS> (81712)
<ACCUMULATED-NII-PRIOR> (51)<F1>
<ACCUMULATED-GAINS-PRIOR> (5502)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 6928<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 13814<F1>
<AVERAGE-NET-ASSETS> 1315042
<PER-SHARE-NAV-BEGIN> 19.549
<PER-SHARE-NII> .980
<PER-SHARE-GAIN-APPREC> (.304)
<PER-SHARE-DIVIDEND> (.987)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.238
<EXPENSE-RATIO> .95
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> VKAC Insured Tax Free Fund - Class B
<MULTIPLIER> 1000
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 1294436<F1>
<INVESTMENTS-AT-VALUE> 1394342<F1>
<RECEIVABLES> 25439<F1>
<ASSETS-OTHER> 41<F1>
<OTHER-ITEMS-ASSETS> 855<F1>
<TOTAL-ASSETS> 1420677<F1>
<PAYABLE-FOR-SECURITIES> 40514<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 19921<F1>
<TOTAL-LIABILITIES> 60435<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 70393
<SHARES-COMMON-STOCK> 3723
<SHARES-COMMON-PRIOR> 3851
<ACCUMULATED-NII-CURRENT> (89)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 5144<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 99934<F1>
<NET-ASSETS> 71631
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 84388<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (13804)<F1>
<NET-INVESTMENT-INCOME> 70584<F1>
<REALIZED-GAINS-CURRENT> 10646<F1>
<APPREC-INCREASE-CURRENT> (32869)<F1>
<NET-CHANGE-FROM-OPS> 48361<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (3179)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 505
<NUMBER-OF-SHARES-REDEEMED> (719)
<SHARES-REINVESTED> 86
<NET-CHANGE-IN-ASSETS> (3648)
<ACCUMULATED-NII-PRIOR> (51)<F1>
<ACCUMULATED-GAINS-PRIOR> (5502)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 6928<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 13814<F1>
<AVERAGE-NET-ASSETS> 72179
<PER-SHARE-NAV-BEGIN> 19.549
<PER-SHARE-NII> .832
<PER-SHARE-GAIN-APPREC> (.304)
<PER-SHARE-DIVIDEND> (.837)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.240
<EXPENSE-RATIO> 1.74
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 013
<NAME> VKAC Insured Tax Free Fund - Class C
<MULTIPLIER> 1000
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 1294436<F1>
<INVESTMENTS-AT-VALUE> 1394342<F1>
<RECEIVABLES> 25439<F1>
<ASSETS-OTHER> 41<F1>
<OTHER-ITEMS-ASSETS> 855<F1>
<TOTAL-ASSETS> 1420677<F1>
<PAYABLE-FOR-SECURITIES> 40514<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 19921<F1>
<TOTAL-LIABILITIES> 60435<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 5137
<SHARES-COMMON-STOCK> 257
<SHARES-COMMON-PRIOR> 262
<ACCUMULATED-NII-CURRENT> (89)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 5144<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 99934<F1>
<NET-ASSETS> 4943
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 84388<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (13804)<F1>
<NET-INVESTMENT-INCOME> 70584<F1>
<REALIZED-GAINS-CURRENT> 10646<F1>
<APPREC-INCREASE-CURRENT> (32869)<F1>
<NET-CHANGE-FROM-OPS> 48361<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (206)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 89
<NUMBER-OF-SHARES-REDEEMED> (102)
<SHARES-REINVESTED> 8
<NET-CHANGE-IN-ASSETS> (183)
<ACCUMULATED-NII-PRIOR> (51)<F1>
<ACCUMULATED-GAINS-PRIOR> (5502)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 6928<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 13814<F1>
<AVERAGE-NET-ASSETS> 4664
<PER-SHARE-NAV-BEGIN> 19.548
<PER-SHARE-NII> .830
<PER-SHARE-GAIN-APPREC> (.302)
<PER-SHARE-DIVIDEND> (.837)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.239
<EXPENSE-RATIO> 1.74
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 021
<NAME> VKAC Tax Free High Income Fund - Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 833583832<F1>
<INVESTMENTS-AT-VALUE> 860294007<F1>
<RECEIVABLES> 18497547<F1>
<ASSETS-OTHER> 69061<F1>
<OTHER-ITEMS-ASSETS> 42716<F1>
<TOTAL-ASSETS> 878903331<F1>
<PAYABLE-FOR-SECURITIES> 8800000<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 5555450<F1>
<TOTAL-LIABILITIES> 14335450<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 744740084
<SHARES-COMMON-STOCK> 46419769
<SHARES-COMMON-PRIOR> 44433895
<ACCUMULATED-NII-CURRENT> (8821755)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (95128462)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 26675438<F1>
<NET-ASSETS> 671856857
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 62456702<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (9420172)<F1>
<NET-INVESTMENT-INCOME> 53036530<F1>
<REALIZED-GAINS-CURRENT> (15209862)<F1>
<APPREC-INCREASE-CURRENT> (12362837)<F1>
<NET-CHANGE-FROM-OPS> 25463831<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (43633838)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6370895
<NUMBER-OF-SHARES-REDEEMED> (5711728)
<SHARES-REINVESTED> 1326707
<NET-CHANGE-IN-ASSETS> 6034562
<ACCUMULATED-NII-PRIOR> (8760023)<F1>
<ACCUMULATED-GAINS-PRIOR> (79918600)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3953376<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 9430200<F1>
<AVERAGE-NET-ASSETS> 657677646
<PER-SHARE-NAV-BEGIN> 14.984
<PER-SHARE-NII> .963
<PER-SHARE-GAIN-APPREC> (.513)
<PER-SHARE-DIVIDEND> (.960)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.474
<EXPENSE-RATIO> .99
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 022
<NAME> VKAC Tax Free High Income Fund - Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 833583832<F1>
<INVESTMENTS-AT-VALUE> 860294007<F1>
<RECEIVABLES> 18497547<F1>
<ASSETS-OTHER> 69061<F1>
<OTHER-ITEMS-ASSETS> 42716<F1>
<TOTAL-ASSETS> 878903331<F1>
<PAYABLE-FOR-SECURITIES> 8800000<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 5555450<F1>
<TOTAL-LIABILITIES> 14335450<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 177733309
<SHARES-COMMON-STOCK> 12010543
<SHARES-COMMON-PRIOR> 9205700
<ACCUMULATED-NII-CURRENT> (8821755)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (95128462)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 26675438<F1>
<NET-ASSETS> 173844037
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 62456702<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (9420172)<F1>
<NET-INVESTMENT-INCOME> 53036530<F1>
<REALIZED-GAINS-CURRENT> (15209862)<F1>
<APPREC-INCREASE-CURRENT> (12362837)<F1>
<NET-CHANGE-FROM-OPS> 25463831<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (8865546)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4180416
<NUMBER-OF-SHARES-REDEEMED> (1605061)
<SHARES-REINVESTED> 229488
<NET-CHANGE-IN-ASSETS> 35910570
<ACCUMULATED-NII-PRIOR> (8760023)<F1>
<ACCUMULATED-GAINS-PRIOR> (79918600)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3953376<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 9430200<F1>
<AVERAGE-NET-ASSETS> 151720353
<PER-SHARE-NAV-BEGIN> 14.983
<PER-SHARE-NII> .843
<PER-SHARE-GAIN-APPREC> (.506)
<PER-SHARE-DIVIDEND> (.846)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.474
<EXPENSE-RATIO> 1.75
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 023
<NAME> VKAC Tax Free High Income Fund - Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 833583832<F1>
<INVESTMENTS-AT-VALUE> 860294007<F1>
<RECEIVABLES> 18497547<F1>
<ASSETS-OTHER> 69061<F1>
<OTHER-ITEMS-ASSETS> 42716<F1>
<TOTAL-ASSETS> 878903331<F1>
<PAYABLE-FOR-SECURITIES> 8800000<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 5555450<F1>
<TOTAL-LIABILITIES> 14335450<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 19349267
<SHARES-COMMON-STOCK> 1302119
<SHARES-COMMON-PRIOR> 634649
<ACCUMULATED-NII-CURRENT> (8821755)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (95128462)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 26675438<F1>
<NET-ASSETS> 18846987
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 62456702<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (9420172)<F1>
<NET-INVESTMENT-INCOME> 53036530<F1>
<REALIZED-GAINS-CURRENT> (15209862)<F1>
<APPREC-INCREASE-CURRENT> (12362837)<F1>
<NET-CHANGE-FROM-OPS> 25463831<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (766103)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 787103
<NUMBER-OF-SHARES-REDEEMED> (153484)
<SHARES-REINVESTED> 33851
<NET-CHANGE-IN-ASSETS> 9335517
<ACCUMULATED-NII-PRIOR> (8760023)<F1>
<ACCUMULATED-GAINS-PRIOR> (79918600)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 3953376<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 9430200<F1>
<AVERAGE-NET-ASSETS> 13153579
<PER-SHARE-NAV-BEGIN> 14.987
<PER-SHARE-NII> .851
<PER-SHARE-GAIN-APPREC> (.518)
<PER-SHARE-DIVIDEND> (.846)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.474
<EXPENSE-RATIO> 1.75
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 031
<NAME> California Insured Tax Free Fund - A Shares
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 160470573<F1>
<INVESTMENTS-AT-VALUE> 171104039<F1>
<RECEIVABLES> 2859387<F1>
<ASSETS-OTHER> 4765<F1>
<OTHER-ITEMS-ASSETS> 152362<F1>
<TOTAL-ASSETS> 174120353<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 832937<F1>
<TOTAL-LIABILITIES> 832937<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 136025511
<SHARES-COMMON-STOCK> 8091788
<SHARES-COMMON-PRIOR> 8319584
<ACCUMULATED-NII-CURRENT> 209340<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (5070220)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 10633466<F1>
<NET-ASSETS> 142457720
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 10309803<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1989913)<F1>
<NET-INVESTMENT-INCOME> 8319890<F1>
<REALIZED-GAINS-CURRENT> 2275283<F1>
<APPREC-INCREASE-CURRENT> (3715835)<F1>
<NET-CHANGE-FROM-OPS> 6879338<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (7012876)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 968895
<NUMBER-OF-SHARES-REDEEMED> (1457342)
<SHARES-REINVESTED> 242651
<NET-CHANGE-IN-ASSETS> (5098445)
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> (7345503)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 827860<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1999941<F1>
<AVERAGE-NET-ASSETS> 144128059
<PER-SHARE-NAV-BEGIN> 17.736
<PER-SHARE-NII> 0.857
<PER-SHARE-GAIN-APPREC> (0.145)
<PER-SHARE-DIVIDEND> (0.843)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.605
<EXPENSE-RATIO> 1.02
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 032
<NAME> California Insured Tax Free Fund - B Shares
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 160470573<F1>
<INVESTMENTS-AT-VALUE> 171104039<F1>
<RECEIVABLES> 2859387<F1>
<ASSETS-OTHER> 4765<F1>
<OTHER-ITEMS-ASSETS> 152362<F1>
<TOTAL-ASSETS> 174120353<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 832937<F1>
<TOTAL-LIABILITIES> 832937<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 28878801
<SHARES-COMMON-STOCK> 1625341
<SHARES-COMMON-PRIOR> 1387788
<ACCUMULATED-NII-CURRENT> 209340<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (5070220)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 10633466<F1>
<NET-ASSETS> 28611543
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 10309803<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1989913)<F1>
<NET-INVESTMENT-INCOME> 8319890<F1>
<REALIZED-GAINS-CURRENT> 2275283<F1>
<APPREC-INCREASE-CURRENT> (3715835)<F1>
<NET-CHANGE-FROM-OPS> 6879338<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (1094958)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 439621
<NUMBER-OF-SHARES-REDEEMED> (240656)
<SHARES-REINVESTED> 38588
<NET-CHANGE-IN-ASSETS> 3997741
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> (7345503)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 827860<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1999941<F1>
<AVERAGE-NET-ASSETS> 26725777
<PER-SHARE-NAV-BEGIN> 17.736
<PER-SHARE-NII> 0.720
<PER-SHARE-GAIN-APPREC> (0.142)
<PER-SHARE-DIVIDEND> (0.711)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.603
<EXPENSE-RATIO> 1.79
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 033
<NAME> California Insured Tax Free Fund - C Shares
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 160470573<F1>
<INVESTMENTS-AT-VALUE> 171104039<F1>
<RECEIVABLES> 2859387<F1>
<ASSETS-OTHER> 4765<F1>
<OTHER-ITEMS-ASSETS> 152362<F1>
<TOTAL-ASSETS> 174120353<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 832937<F1>
<TOTAL-LIABILITIES> 832937<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 2610718
<SHARES-COMMON-STOCK> 126025
<SHARES-COMMON-PRIOR> 103597
<ACCUMULATED-NII-CURRENT> 209340<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (5070220)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 10633466<F1>
<NET-ASSETS> 2218353
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 10309803<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1989913)<F1>
<NET-INVESTMENT-INCOME> 8319890<F1>
<REALIZED-GAINS-CURRENT> 2275283<F1>
<APPREC-INCREASE-CURRENT> (3715835)<F1>
<NET-CHANGE-FROM-OPS> 6879338<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (79245)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 49675
<NUMBER-OF-SHARES-REDEEMED> (30329)
<SHARES-REINVESTED> 3082
<NET-CHANGE-IN-ASSETS> 380998
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> (7345503)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 827860<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1999941<F1>
<AVERAGE-NET-ASSETS> 1937796
<PER-SHARE-NAV-BEGIN> 17.736
<PER-SHARE-NII> 0.722
<PER-SHARE-GAIN-APPREC> (0.145)
<PER-SHARE-DIVIDEND> (0.711)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.602
<EXPENSE-RATIO> 1.79
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 041
<NAME> VKAC Municipal Income Fund - Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 968698608<F1>
<INVESTMENTS-AT-VALUE> 1029798957<F1>
<RECEIVABLES> 27497639<F1>
<ASSETS-OTHER> 0<F1>
<OTHER-ITEMS-ASSETS> 491345<F1>
<TOTAL-ASSETS> 1057787941<F1>
<PAYABLE-FOR-SECURITIES> 24860688<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 16685301<F1>
<TOTAL-LIABILITIES> 41545989<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 760254848
<SHARES-COMMON-STOCK> 51899523
<SHARES-COMMON-PRIOR> 54003132
<ACCUMULATED-NII-CURRENT> 662245<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (27924222)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 60847273<F1>
<NET-ASSETS> 792340929
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 69853730<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (11254204)<F1>
<NET-INVESTMENT-INCOME> 58599526<F1>
<REALIZED-GAINS-CURRENT> 15529569<F1>
<APPREC-INCREASE-CURRENT> (34930300)<F1>
<NET-CHANGE-FROM-OPS> 39198795<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (46362424)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 27650131
<NUMBER-OF-SHARES-REDEEMED> (31326699)
<SHARES-REINVESTED> 1572959
<NET-CHANGE-IN-ASSETS> (47336354)
<ACCUMULATED-NII-PRIOR> (553439)<F1>
<ACCUMULATED-GAINS-PRIOR> (43453791)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 4825272<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 11264232<F1>
<AVERAGE-NET-ASSETS> 796411827
<PER-SHARE-NAV-BEGIN> 15.549
<PER-SHARE-NII> .898
<PER-SHARE-GAIN-APPREC> (.298)
<PER-SHARE-DIVIDEND> (.882)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.267
<EXPENSE-RATIO> .94
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 042
<NAME> VKAC Municipal Income Fund - Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 968698608<F1>
<INVESTMENTS-AT-VALUE> 1029798957<F1>
<RECEIVABLES> 27497639<F1>
<ASSETS-OTHER> 0<F1>
<OTHER-ITEMS-ASSETS> 491345<F1>
<TOTAL-ASSETS> 1057787941<F1>
<PAYABLE-FOR-SECURITIES> 24860688<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 16685301<F1>
<TOTAL-LIABILITIES> 41545989<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 209639832
<SHARES-COMMON-STOCK> 13819776
<SHARES-COMMON-PRIOR> 13929963
<ACCUMULATED-NII-CURRENT> 662245<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (27924222)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 60847273<F1>
<NET-ASSETS> 210982818
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 69853730<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (11254204)<F1>
<NET-INVESTMENT-INCOME> 58599526<F1>
<REALIZED-GAINS-CURRENT> 15529569<F1>
<APPREC-INCREASE-CURRENT> (34930300)<F1>
<NET-CHANGE-FROM-OPS> 39198795<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (10564184)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1641964
<NUMBER-OF-SHARES-REDEEMED> (2128006)
<SHARES-REINVESTED> 375855
<NET-CHANGE-IN-ASSETS> (5609811)
<ACCUMULATED-NII-PRIOR> (553439)<F1>
<ACCUMULATED-GAINS-PRIOR> (43453791)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 4825272<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 11264232<F1>
<AVERAGE-NET-ASSETS> 208465803
<PER-SHARE-NAV-BEGIN> 15.549
<PER-SHARE-NII> .783
<PER-SHARE-GAIN-APPREC> (.297)
<PER-SHARE-DIVIDEND> (.768)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.267
<EXPENSE-RATIO> 1.70
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 043
<NAME> VKAC Municipal Income Fund - Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 968698608<F1>
<INVESTMENTS-AT-VALUE> 1029798957<F1>
<RECEIVABLES> 27497639<F1>
<ASSETS-OTHER> 0<F1>
<OTHER-ITEMS-ASSETS> 491345<F1>
<TOTAL-ASSETS> 1057787941<F1>
<PAYABLE-FOR-SECURITIES> 24860688<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 16685301<F1>
<TOTAL-LIABILITIES> 41545989<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 12761976
<SHARES-COMMON-STOCK> 846831
<SHARES-COMMON-PRIOR> 721187
<ACCUMULATED-NII-CURRENT> 662245<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (27924222)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 60847273<F1>
<NET-ASSETS> 12918205
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 69853730<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (11254204)<F1>
<NET-INVESTMENT-INCOME> 58599526<F1>
<REALIZED-GAINS-CURRENT> 15529569<F1>
<APPREC-INCREASE-CURRENT> (34930300)<F1>
<NET-CHANGE-FROM-OPS> 39198795<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (607911)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 375923
<NUMBER-OF-SHARES-REDEEMED> (272810)
<SHARES-REINVESTED> 22351
<NET-CHANGE-IN-ASSETS> 1707193
<ACCUMULATED-NII-PRIOR> (553439)<F1>
<ACCUMULATED-GAINS-PRIOR> (43453791)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 4825272<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 11264232<F1>
<AVERAGE-NET-ASSETS> 11984574
<PER-SHARE-NAV-BEGIN> 15.545
<PER-SHARE-NII> .782
<PER-SHARE-GAIN-APPREC> (.305)
<PER-SHARE-DIVIDEND> (.768)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.254
<EXPENSE-RATIO> 1.70
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 051
<NAME> VKAC Interm. Term Muni Income Fund - Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 33831921<F1>
<INVESTMENTS-AT-VALUE> 35614192<F1>
<RECEIVABLES> 832539<F1>
<ASSETS-OTHER> 17223<F1>
<OTHER-ITEMS-ASSETS> 1057405<F1>
<TOTAL-ASSETS> 37521359<F1>
<PAYABLE-FOR-SECURITIES> 2514370<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 326300<F1>
<TOTAL-LIABILITIES> 2840670<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 12027013
<SHARES-COMMON-STOCK> 1220664
<SHARES-COMMON-PRIOR> 1521067
<ACCUMULATED-NII-CURRENT> 27942<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (685887)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 1782271<F1>
<NET-ASSETS> 12466445
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 2127939<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (714764)<F1>
<NET-INVESTMENT-INCOME> 1413175<F1>
<REALIZED-GAINS-CURRENT> 347243<F1>
<APPREC-INCREASE-CURRENT> (454405)<F1>
<NET-CHANGE-FROM-OPS> 1306013<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (656307)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 103746
<NUMBER-OF-SHARES-REDEEMED> (445139)
<SHARES-REINVESTED> 40990
<NET-CHANGE-IN-ASSETS> (3145946)
<ACCUMULATED-NII-PRIOR> 122028<F1>
<ACCUMULATED-GAINS-PRIOR> (1033130)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 176896<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 779102<F1>
<AVERAGE-NET-ASSETS> 13984482
<PER-SHARE-NAV-BEGIN> 10.264
<PER-SHARE-NII> .455
<PER-SHARE-GAIN-APPREC> (.032)
<PER-SHARE-DIVIDEND> (.474)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.213
<EXPENSE-RATIO> 1.56
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 052
<NAME> VKAC Interm. Term Muni Income Fund - Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 33831921<F1>
<INVESTMENTS-AT-VALUE> 35614192<F1>
<RECEIVABLES> 832539<F1>
<ASSETS-OTHER> 17223<F1>
<OTHER-ITEMS-ASSETS> 1057405<F1>
<TOTAL-ASSETS> 37521359<F1>
<PAYABLE-FOR-SECURITIES> 2514370<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 326300<F1>
<TOTAL-LIABILITIES> 2840670<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 15986638
<SHARES-COMMON-STOCK> 1604956
<SHARES-COMMON-PRIOR> 1708127
<ACCUMULATED-NII-CURRENT> 27942<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (685887)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 1782271<F1>
<NET-ASSETS> 16384261
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 2127939<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (714764)<F1>
<NET-INVESTMENT-INCOME> 1413175<F1>
<REALIZED-GAINS-CURRENT> 347243<F1>
<APPREC-INCREASE-CURRENT> (454405)<F1>
<NET-CHANGE-FROM-OPS> 1306013<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (666673)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 139700
<NUMBER-OF-SHARES-REDEEMED> (281671)
<SHARES-REINVESTED> 38800
<NET-CHANGE-IN-ASSETS> (1146441)
<ACCUMULATED-NII-PRIOR> 122028<F1>
<ACCUMULATED-GAINS-PRIOR> (1033130)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 176896<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 779102<F1>
<AVERAGE-NET-ASSETS> 16773427
<PER-SHARE-NAV-BEGIN> 10.263
<PER-SHARE-NII> .375
<PER-SHARE-GAIN-APPREC> (.027)
<PER-SHARE-DIVIDEND> (.402)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.209
<EXPENSE-RATIO> 2.32
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 053
<NAME> VKAC Interm. Term Muni Income Fund - Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 33831921<F1>
<INVESTMENTS-AT-VALUE> 35614192<F1>
<RECEIVABLES> 832539<F1>
<ASSETS-OTHER> 17223<F1>
<OTHER-ITEMS-ASSETS> 1057405<F1>
<TOTAL-ASSETS> 37521359<F1>
<PAYABLE-FOR-SECURITIES> 2514370<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 326300<F1>
<TOTAL-LIABILITIES> 2840670<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 5542712
<SHARES-COMMON-STOCK> 571218
<SHARES-COMMON-PRIOR> 481795
<ACCUMULATED-NII-CURRENT> 27942<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (685887)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 1782271<F1>
<NET-ASSETS> 5829983
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 2127939<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (714764)<F1>
<NET-INVESTMENT-INCOME> 1413175<F1>
<REALIZED-GAINS-CURRENT> 347243<F1>
<APPREC-INCREASE-CURRENT> (454405)<F1>
<NET-CHANGE-FROM-OPS> 1306013<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (184281)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 245967
<NUMBER-OF-SHARES-REDEEMED> (172868)
<SHARES-REINVESTED> 16324
<NET-CHANGE-IN-ASSETS> 886781
<ACCUMULATED-NII-PRIOR> 122028<F1>
<ACCUMULATED-GAINS-PRIOR> (1033130)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 176896<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 779102<F1>
<AVERAGE-NET-ASSETS> 4626904
<PER-SHARE-NAV-BEGIN> 10.260
<PER-SHARE-NII> .374
<PER-SHARE-GAIN-APPREC> (.026)
<PER-SHARE-DIVIDEND> (.402)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.206
<EXPENSE-RATIO> 2.32
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 61
<NAME> VKAC Florida Insured Tax Free - Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 41429793<F1>
<INVESTMENTS-AT-VALUE> 42888801<F1>
<RECEIVABLES> 633261<F1>
<ASSETS-OTHER> 61707<F1>
<OTHER-ITEMS-ASSETS> 3030224<F1>
<TOTAL-ASSETS> 46613993<F1>
<PAYABLE-FOR-SECURITIES> 4474939<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 261915<F1>
<TOTAL-LIABILITIES> 4736854<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 21428427
<SHARES-COMMON-STOCK> 1471084
<SHARES-COMMON-PRIOR> 1065925
<ACCUMULATED-NII-CURRENT> 20971<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 27558<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 1459008<F1>
<NET-ASSETS> 22155203
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 1916154<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (228791)<F1>
<NET-INVESTMENT-INCOME> 1687363<F1>
<REALIZED-GAINS-CURRENT> 287514<F1>
<APPREC-INCREASE-CURRENT> (547665)<F1>
<NET-CHANGE-FROM-OPS> 1427212<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (868212)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 662550
<NUMBER-OF-SHARES-REDEEMED> (282145)
<SHARES-REINVESTED> 24754
<NET-CHANGE-IN-ASSETS> 5949603
<ACCUMULATED-NII-PRIOR> (11977)<F1>
<ACCUMULATED-GAINS-PRIOR> (259956)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 121439<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 504469<F1>
<AVERAGE-NET-ASSETS> 16574867
<PER-SHARE-NAV-BEGIN> 15.203
<PER-SHARE-NII> .784
<PER-SHARE-GAIN-APPREC> (.153)
<PER-SHARE-DIVIDEND> (.774)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.060
<EXPENSE-RATIO> .28
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 62
<NAME> VKAC Florida Insured Tax Free - Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 41429793<F1>
<INVESTMENTS-AT-VALUE> 42888801<F1>
<RECEIVABLES> 633261<F1>
<ASSETS-OTHER> 61707<F1>
<OTHER-ITEMS-ASSETS> 3030224<F1>
<TOTAL-ASSETS> 46613993<F1>
<PAYABLE-FOR-SECURITIES> 4474939<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 261915<F1>
<TOTAL-LIABILITIES> 4736854<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 18098011
<SHARES-COMMON-STOCK> 1252795
<SHARES-COMMON-PRIOR> 1114583
<ACCUMULATED-NII-CURRENT> 20971<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 27558<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 1459008<F1>
<NET-ASSETS> 18872726
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 1916154<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (228791)<F1>
<NET-INVESTMENT-INCOME> 1687363<F1>
<REALIZED-GAINS-CURRENT> 287514<F1>
<APPREC-INCREASE-CURRENT> (547665)<F1>
<NET-CHANGE-FROM-OPS> 1427212<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (768924)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 371733
<NUMBER-OF-SHARES-REDEEMED> (255198)
<SHARES-REINVESTED> 21677
<NET-CHANGE-IN-ASSETS> 1929425
<ACCUMULATED-NII-PRIOR> (11977)<F1>
<ACCUMULATED-GAINS-PRIOR> (259956)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 121439<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 504469<F1>
<AVERAGE-NET-ASSETS> 17288224
<PER-SHARE-NAV-BEGIN> 15.201
<PER-SHARE-NII> .677
<PER-SHARE-GAIN-APPREC> (.154)
<PER-SHARE-DIVIDEND> (.660)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.064
<EXPENSE-RATIO> 1.03
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 63
<NAME> VKAC Florida Insured Tax Free - Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 41429793<F1>
<INVESTMENTS-AT-VALUE> 42888801<F1>
<RECEIVABLES> 633261<F1>
<ASSETS-OTHER> 61707<F1>
<OTHER-ITEMS-ASSETS> 3030224<F1>
<TOTAL-ASSETS> 46613993<F1>
<PAYABLE-FOR-SECURITIES> 4474939<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 261915<F1>
<TOTAL-LIABILITIES> 4736854<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 843164
<SHARES-COMMON-STOCK> 56311
<SHARES-COMMON-PRIOR> 30359
<ACCUMULATED-NII-CURRENT> 20971<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 27558<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 1459008<F1>
<NET-ASSETS> 849210
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 1916154<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (228791)<F1>
<NET-INVESTMENT-INCOME> 1687363<F1>
<REALIZED-GAINS-CURRENT> 287514<F1>
<APPREC-INCREASE-CURRENT> (547665)<F1>
<NET-CHANGE-FROM-OPS> 1427212<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (17279)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 43663
<NUMBER-OF-SHARES-REDEEMED> (18569)
<SHARES-REINVESTED> 858
<NET-CHANGE-IN-ASSETS> 387371
<ACCUMULATED-NII-PRIOR> (11977)<F1>
<ACCUMULATED-GAINS-PRIOR> (259956)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 121439<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 504469<F1>
<AVERAGE-NET-ASSETS> 388413
<PER-SHARE-NAV-BEGIN> 15.213
<PER-SHARE-NII> .668
<PER-SHARE-GAIN-APPREC> (.140)
<PER-SHARE-DIVIDEND> (.660)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.081
<EXPENSE-RATIO> 1.03
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 71
<NAME> VKAC New Jersey Tax Free Income Fund - Class A Shares
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 16236955<F1>
<INVESTMENTS-AT-VALUE> 17064075<F1>
<RECEIVABLES> 339540<F1>
<ASSETS-OTHER> 61706<F1>
<OTHER-ITEMS-ASSETS> 44548<F1>
<TOTAL-ASSETS> 17509869<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 124300<F1>
<TOTAL-LIABILITIES> 124300<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 7411377
<SHARES-COMMON-STOCK> 514981
<SHARES-COMMON-PRIOR> 389565
<ACCUMULATED-NII-CURRENT> 6730<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (253809)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 827120<F1>
<NET-ASSETS> 7641719
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 934883<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> 131608<F1>
<NET-INVESTMENT-INCOME> 803275<F1>
<REALIZED-GAINS-CURRENT> 5297<F1>
<APPREC-INCREASE-CURRENT> (155162)<F1>
<NET-CHANGE-FROM-OPS> 653410<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (368826)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 150230
<NUMBER-OF-SHARES-REDEEMED> (35980)
<SHARES-REINVESTED> 11166
<NET-CHANGE-IN-ASSETS> 1798320
<ACCUMULATED-NII-PRIOR> (4253)<F1>
<ACCUMULATED-GAINS-PRIOR> (259106)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 97956<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 381792<F1>
<AVERAGE-NET-ASSETS> 6996746
<PER-SHARE-NAV-BEGIN> 15.000
<PER-SHARE-NII> 0.786
<PER-SHARE-GAIN-APPREC> (0.173)
<PER-SHARE-DIVIDEND> (0.774)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.839
<EXPENSE-RATIO> 0.38
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 72
<NAME> VKAC New Jersey Tax Free Income Fund - Class B Shares
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 16236955<F1>
<INVESTMENTS-AT-VALUE> 17064075<F1>
<RECEIVABLES> 339540<F1>
<ASSETS-OTHER> 61706<F1>
<OTHER-ITEMS-ASSETS> 44548<F1>
<TOTAL-ASSETS> 17509869<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 124300<F1>
<TOTAL-LIABILITIES> 124300<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 8695663
<SHARES-COMMON-STOCK> 609192
<SHARES-COMMON-PRIOR> 548211
<ACCUMULATED-NII-CURRENT> 6730<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (253809)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 827120<F1>
<NET-ASSETS> 9031918
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 934883<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> 131608<F1>
<NET-INVESTMENT-INCOME> 803275<F1>
<REALIZED-GAINS-CURRENT> 5297<F1>
<APPREC-INCREASE-CURRENT> (155162)<F1>
<NET-CHANGE-FROM-OPS> 653410<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (392001)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 151165
<NUMBER-OF-SHARES-REDEEMED> (102981)
<SHARES-REINVESTED> 12797
<NET-CHANGE-IN-ASSETS> 813522
<ACCUMULATED-NII-PRIOR> (4253)<F1>
<ACCUMULATED-GAINS-PRIOR> (259106)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 97956<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 381792<F1>
<AVERAGE-NET-ASSETS> 8633105
<PER-SHARE-NAV-BEGIN> 14.991
<PER-SHARE-NII> 0.675
<PER-SHARE-GAIN-APPREC> (0.174)
<PER-SHARE-DIVIDEND> (0.666)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.826
<EXPENSE-RATIO> 1.13
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 73
<NAME> VKAC New Jersey Tax Free Income Fund - Class C Shares
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 16236955<F1>
<INVESTMENTS-AT-VALUE> 17064075<F1>
<RECEIVABLES> 339540<F1>
<ASSETS-OTHER> 61706<F1>
<OTHER-ITEMS-ASSETS> 44548<F1>
<TOTAL-ASSETS> 17509869<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 124300<F1>
<TOTAL-LIABILITIES> 124300<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 698488
<SHARES-COMMON-STOCK> 48008
<SHARES-COMMON-PRIOR> 30966
<ACCUMULATED-NII-CURRENT> 6730<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (253809)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 827120<F1>
<NET-ASSETS> 711932
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 934883<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> 131608<F1>
<NET-INVESTMENT-INCOME> 803275<F1>
<REALIZED-GAINS-CURRENT> 5297<F1>
<APPREC-INCREASE-CURRENT> (155162)<F1>
<NET-CHANGE-FROM-OPS> 653410<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (31465)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 22132
<NUMBER-OF-SHARES-REDEEMED> (6957)
<SHARES-REINVESTED> 1867
<NET-CHANGE-IN-ASSETS> 247453
<ACCUMULATED-NII-PRIOR> (4253)<F1>
<ACCUMULATED-GAINS-PRIOR> (259106)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 97956<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 381792<F1>
<AVERAGE-NET-ASSETS> 694891
<PER-SHARE-NAV-BEGIN> 15.000
<PER-SHARE-NII> 0.673
<PER-SHARE-GAIN-APPREC> (0.178)
<PER-SHARE-DIVIDEND> (0.666)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.829
<EXPENSE-RATIO> 1.13
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 81
<NAME> VKAC Tax Free Trust-New York Tax Free Fund - A Shares
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 17005002<F1>
<INVESTMENTS-AT-VALUE> 17972760<F1>
<RECEIVABLES> 4670958<F1>
<ASSETS-OTHER> 61706<F1>
<OTHER-ITEMS-ASSETS> 0<F1>
<TOTAL-ASSETS> 22705424<F1>
<PAYABLE-FOR-SECURITIES> 4219933<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 303885<F1>
<TOTAL-LIABILITIES> 4523818<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 7390967
<SHARES-COMMON-STOCK> 513625
<SHARES-COMMON-PRIOR> 355842
<ACCUMULATED-NII-CURRENT> 10427<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (130324)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 967758<F1>
<NET-ASSETS> 7700094
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 993413<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> 131809<F1>
<NET-INVESTMENT-INCOME> 861604<F1>
<REALIZED-GAINS-CURRENT> 178372<F1>
<APPREC-INCREASE-CURRENT> (185185)<F1>
<NET-CHANGE-FROM-OPS> 854791<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (354322)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 221959
<NUMBER-OF-SHARES-REDEEMED> (78724)
<SHARES-REINVESTED> 14458
<NET-CHANGE-IN-ASSETS> 2345419
<ACCUMULATED-NII-PRIOR> (7788)<F1>
<ACCUMULATED-GAINS-PRIOR> (308696)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 101692<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 389823<F1>
<AVERAGE-NET-ASSETS> 6528955
<PER-SHARE-NAV-BEGIN> 15.048
<PER-SHARE-NII> .816
<PER-SHARE-GAIN-APPREC> (.074)
<PER-SHARE-DIVIDEND> (.798)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.992
<EXPENSE-RATIO> .31
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 82
<NAME> VKAC Tax Free Trust-New York Tax Free Fund - B Shares
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 17005002<F1>
<INVESTMENTS-AT-VALUE> 17972760<F1>
<RECEIVABLES> 4670958<F1>
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<TOTAL-ASSETS> 22705424<F1>
<PAYABLE-FOR-SECURITIES> 4219933<F1>
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<OTHER-ITEMS-LIABILITIES> 303885<F1>
<TOTAL-LIABILITIES> 4523818<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 9602474
<SHARES-COMMON-STOCK> 675612
<SHARES-COMMON-PRIOR> 647820
<ACCUMULATED-NII-CURRENT> 10427<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (130324)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 967758<F1>
<NET-ASSETS> 10128587
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 993413<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> 131809<F1>
<NET-INVESTMENT-INCOME> 861604<F1>
<REALIZED-GAINS-CURRENT> 178372<F1>
<APPREC-INCREASE-CURRENT> (185185)<F1>
<NET-CHANGE-FROM-OPS> 854791<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (471468)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 167902
<NUMBER-OF-SHARES-REDEEMED> (154018)
<SHARES-REINVESTED> 13908
<NET-CHANGE-IN-ASSETS> 381268
<ACCUMULATED-NII-PRIOR> (7788)<F1>
<ACCUMULATED-GAINS-PRIOR> (308696)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 101692<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 389823<F1>
<AVERAGE-NET-ASSETS> 10042535
<PER-SHARE-NAV-BEGIN> 15.046
<PER-SHARE-NII> .704
<PER-SHARE-GAIN-APPREC> (.068)
<PER-SHARE-DIVIDEND> (.690)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.992
<EXPENSE-RATIO> 1.07
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 83
<NAME> VKAC Tax Free Trust-New York Tax Free Fund - C Shares
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 17005002<F1>
<INVESTMENTS-AT-VALUE> 17972760<F1>
<RECEIVABLES> 4670958<F1>
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<TOTAL-ASSETS> 22705424<F1>
<PAYABLE-FOR-SECURITIES> 4219933<F1>
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<OTHER-ITEMS-LIABILITIES> 303885<F1>
<TOTAL-LIABILITIES> 4523818<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 340304
<SHARES-COMMON-STOCK> 23541
<SHARES-COMMON-PRIOR> 27366
<ACCUMULATED-NII-CURRENT> 10427<F1>
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<ACCUMULATED-NET-GAINS> (130324)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 967758<F1>
<NET-ASSETS> 352925
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 993413<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> 131809<F1>
<NET-INVESTMENT-INCOME> 861604<F1>
<REALIZED-GAINS-CURRENT> 178372<F1>
<APPREC-INCREASE-CURRENT> (185185)<F1>
<NET-CHANGE-FROM-OPS> 854791<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (17599)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7482
<NUMBER-OF-SHARES-REDEEMED> (12034)
<SHARES-REINVESTED> 727
<NET-CHANGE-IN-ASSETS> (58695)
<ACCUMULATED-NII-PRIOR> (7788)<F1>
<ACCUMULATED-GAINS-PRIOR> (308696)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 101692<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 389823<F1>
<AVERAGE-NET-ASSETS> 373680
<PER-SHARE-NAV-BEGIN> 15.041
<PER-SHARE-NII> .701
<PER-SHARE-GAIN-APPREC> (.060)
<PER-SHARE-DIVIDEND> (.690)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.992
<EXPENSE-RATIO> 1.08
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
