SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Post-Effective Amendment No. 15
*
T. ROWE PRICE CALIFORNIA TAX-FREE INCOME TRUST
on behalf of its
California Tax-Free Bond Fund
(Exact Name of Registrant as Specified in Charter)
100 East Pratt Street, Baltimore, Maryland 21202
(Address of Principal Executive Offices)
Telephone Number: 410-547-2000
Henry H. Hopkins
100 East Pratt Street
Baltimore, Maryland 21202
(Name and Address of Agent for Service)
<PAGE>
Approximate Date of Proposed Public Offering
It is proposed that this filing will become effective:
X immediately upon filing pursuant to paragraph (b)
on (date) pursuant to paragraph (b)
60 days after filing pursuant to paragraph (a)
on (date) pursuant to paragraph (a) of Rule 485
Pursuant to Section 24f-2 of the Securities Act of 1933, the
Registrant has registered an indefinite number of securities and
intends to file a 24f-2 Notice by April 28, 1995.
*
CALCULATION OF REGISTRATION FEE UNDER THE SECURITIES ACT OF 1933
Proposed Proposed
Maximum Maximum
Amount Offering Aggregate Amount of
Title of Securities Being Price Offering Registration
Being Registered Registered Per Unit Price Fee
Shares of Beneficial
Interest, no par Varying prices calculated
value per share 1,919,640 as set forth in prospectus None
*
Shares of Beneficial
Interest, no par Varying prices calculated
value per share 28,741 as set forth in prospectus $100
*
*The calculation of the registration fee was made pursuant to Rule 24e-2 and
was based upon an offering price of $10.09 per share, equal to the net asset
*
value as of the close of business on April 12, 1995 pursuant to Rule
*
457(c). The total number of shares redeemed during this fiscal year ended
February 28, 1995 amounted to 4,498,037 shares. Of this number of
*
shares, -0- shares have been used for reduction pursuant to paragraph (a) of
Rule 24e-2 in all previous filings of post-effective amendments during the
current year, and 2,578,397 shares have been used for reduction pursuant
*
to paragraph (c) of Rule 24f-2 in all previous filings during the current
year. 1,919,640 shares of the redeemed shares for the fiscal year ended
*
February 28, 1995 are being used for the reduction in the post-effective
*
amendment being filed herein.
<PAGE>
PAGE 3
Pursuant to the requirements of the Securities Act of 1933 (the "Act"),
as amended, the Registrant, California Tax-Free Bond Fund, hereby
submits this Post-Effective Amendment No. 15 to its Registration Statement,
*
Form N-1A (SEC File Number 33-08093), pursuant to paragraph (b) of Rule 485
under the Act. The purpose of this Amendment is to register an additional
1,948,381 shares of beneficial interest of the Fund to be offered under
*
the currently effective Prospectus dated July 1, 1994 and to furnish the
*
following:
EXHIBIT A: Opinion of Shereff, Friedman, Hoffman & Goodman
as to the legality of the securities being registered.
EXHIBIT B: Representation of Henry H. Hopkins (Counsel for the
Registrant, as required under Rule 485(b)(3) and (e).
It is respectfully requested that this Post-Effective Amendment No. 15
*
become effective immediately upon filing pursuant to paragraph (b) of Rule
485 under the Act.
<PAGE>
Pursuant to the requirements of the Securities Act of 1933, as amended,
and the Investment Company Act of 1940, as amended, the Registrant certifies
that it meets all of the requirements for effectiveness of this Registration
Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has
duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Baltimore, State of
Maryland, this 27th day of April, 1995.
*
CALIFORNIA TAX-FREE BOND FUND
/s/ MARY J. MILLER, President
Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed below by the following persons in
the capacities and on the dates indicated:
SIGNATURE TITLE DATE
/s/ MARY J. MILLER President April 27, 1995
*
/s/ GEORGE J. COLLINS Chairman of the Board April 27, 1995
*
and Director
/s/ CARMEN F. DEYESU Treasurer (Chief
Financial Officer) April 27, 1995
*
/s/ ROBERT P. BLACK Director April 27, 1995
*
/s/ CALVIN W. BURNETT Director April 27, 1995
*
/s/ ANTHONY W. DEERING Director April 27, 1995
*
/s/ F. PIERCE LINAWEAVER Director April 27, 1995
*
/s/ WILLIAM T. REYNOLDS V.P. and Director April 27, 1995
*
/s/ JAMES S. RIEPE V.P. & Director April 27, 1995
*
/s/ JOHN G. SCHREIBER Director April 27, 1995
*
/s/ ANNE MARIE WHITTEMORE Director April 27, 1995
*
EXHIBIT A
April 27, 1995
California Tax-Free Bond Fund
100 East Pratt Street
Baltimore, Maryland 21202
Dear Sirs:
T. Rowe Price California Tax-Free Income Trust, an unincorporated
business trust organized under the laws of the Commonwealth of
Massachusetts (the "Trust"), on behalf of its Sub-Trust, California
Tax-Free Bond Fund, is filing with the Securities and Exchange
Commission (the "Commission") Post-Effective Amendment No. 15 to its
Registration Statement under the Securities Act of 1933 (the "Act") on
Form N-1A (Securities Act File No. 33-08093) relating, among other
things, to the registration under the Act of 1,919,640 additional shares
of beneficial interest (the "additional shares"), which are to be
offered and sold by the Trust in the manner and on the terms set forth
in the prospectus current and effective under the Act at the time of
sale. 28,741 of the additional shares are previously outstanding
shares of beneficial interest of the Trust which were redeemed by the
Trust during the fiscal year ended February 28, 1995 but have not
previously been used by the Trust for reduction pursuant to paragraph
(a) of Rule 24e-2 under the Investment Company Act of 1940 (the "1940
Act") in all previous filing of post-effective amendments during the
current year or pursuant to paragraph (c) of Rule 24f-2 under the 1940
Act during its current fiscal year, to reduce the registration fee
payable by the Trust for the registration of shares for sale under the
Act.
We have, as counsel, participated in various proceedings relating
to the Trust and to the proposed issuance of the addition shares. We
have examined
copies, either certified or otherwise proven to our satisfaction to be
genuine, of its Master Trust Agreement, as currently in effect, and a
certificate dated April 7, 1995 issued by the Secretary of State of the
Commonwealth of Massachusetts, certifying to the existence and good
standing of the Trust. We are generally familiar with the business
affairs of the Trust.
<PAGE>
Based upon the foregoing, it is our opinion that:
1. The Trust has been duly organized and is legally existing
under the
laws of the Commonwealth of Massachusetts.
2. The Trust is authorized to issue an unlimited number of
shares.
3. Subject to the effectiveness under the Act of the
above-mentioned
Post-Effective Amendment No. 15, upon the issuance of the additional
shares for
a consideration not less than the net asset value thereof, the
additional shares
will be legally issued and fully paid and non-assessable. However, we
note that,
as set forth in the Registration statement shareholders of the Trust
might, under
certain circumstances, be liable for transactions effected by the Trust.
We hereby consent to the filing of this Opinion with the Securities
and
Exchange Commission as part of the above-mentioned Post-Effective
Amendment to
the Registration Statement, the reference to our firm as counsel in the
prospectus of the Trust, and to the filing of this Opinion as part of an
application for registration under the Trust, its shares of beneficial
interest,
or both, under the securities law of any state.
We are members of the Bar of the State of New York and do not hold
ourselves out as being conversant with the laws of any jurisdiction
other than
those of the United States of America and the State of New York. We
note that
we are not licensed to practice law in the Commonwealth of
Massachusetts, and to
the extent that any opinion expressed herein involves the law of
Massachusetts,
such opinion should be understood to be based solely upon our review of
the
documents referred to above, the published statutes of that Commonwealth
and,
where applicable, published cases, rules or regulations of regulatory
bodies of
that Commonwealth.
Very truly yours,
Shereff, Friedman, Hoffman & Goodman
Exhibit B
April 27, 1995
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: File Number 33-08093
California Tax-Free Bond Fund
Gentlemen:
As Legal Counsel for T. Rowe Price Associates, Inc., I work on
various
matters involving the California Tax-Free Bond Fund ("Registrant") and,
in this
connection, have read and reviewed Post-Effective Amendment No. 15 to
the
Registrant's Registration Statement, Form N-1A (SEC File Number
33-08093). In
accordance with the provisions of paragraphs (b)(3) and (e) of Rule 485
under the
Securities Act of 1933, as amended, I hereby represent that (i) no
material event
requiring disclosure in the Registrant's Prospectus, other than the one
listed
in paragraph (b)(1) of Rule 485, has occurred since the effective date
of the
Registrant's most recent Post-Effective Amendment No. 14 and (ii)
Post-Effective
Amendment No. 15 does not contain any disclosures which would render
such
Amendment ineligible to become effective pursuant to paragraph (b) of
Rule 485.
Sincerely,
/s/ HENRY H. HOPKINS
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<CIK> 0000798086
<NAME> T. ROWE PRICE CALIFORNIA TAX-FREE INCOME TRUST
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<NAME> CALIFORNIA TAX-FREE BOND FUND
<S> <C>
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<PERIOD-END> FEB-28-1995
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</TABLE>
