U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer:
T. Rowe Price California Tax-Free Income Trust
100 East Pratt Street
Baltimore, MD 21202
2. Name of each series or class of funds for which this notice is
filed:
California Tax-Free Bond Fund
California Tax-Free Money Fund
3. Investment Company Act File Number: 811-4525
Securities Act File Number: 33-08093
4. Last day of fiscal year for which this notice is filed:
February 28, 1997
5. Check box if this notice is being filed more than 180 days after
the close of the issuer's fiscal year for purposes of reporting
securities sold after the close of the fiscal year but before
termination of the issuer's 24f-2 declaration: [ ]
6. Date of termination of issuer's declaration under rule
24f-2(a)(1), if applicable (see instruction A.6):
Not applicable
7. Number and amount of securities of the same class or series which
had been registered under the Securities Act of 1933 other than
pursuant to rule 24f-2 in a prior fiscal year, but which remained
unsold at the beginning of the fiscal year:
22,186,660 shares of the California Tax-Free Money Fund
1,948,381 shares of the California Tax-Free Bond Fund
8. Number and amount of securities registered during the fiscal year
other than pursuant to rule 24f-2:
3,889,329 shares of the California Tax-Free Money Fund
9. Number and aggregate sale price of securities sold during the
fiscal year:
81,750,123 shares aggregating $111,314,237
10. Number and aggregate sale price of securities sold during the
fiscal year in reliance upon registration pursuant to rule 24f-2:
71,624,397 shares aggregating $94,925,147
11. Number and aggregate sale price of securities issued during the
fiscal year in connection with dividend reinvestment plans, if
applicable (see Instruction B.7):
2,529,801 shares aggregating $7,518,338
12. Calculation of registration fee:
(i) Aggregate sale price of securities
sold during the fiscal year in reliance
on rule 24f-2 (from Item 10): $ 94,925,147
(ii) Aggregate price of shares issued in
connection with dividend reinvestment
plans (from Item 11, if applicable): + 7,518,338
(iii) Aggregate price of shares redeemed
or repurchased during the fiscal year
(if applicable): - 95,118,292
(iv) Aggregate price of shares redeemed or
repurchased and previously applied as
a reduction to filing fees pursuant
to rule 24e-2 (if applicable): + -0-
(v) Net aggregate price of securities sold
and issued during the fiscal year in
reliance on rule 24f-2 [line (i), plus
line (ii), less line (iii), plus line
(iv)] (if applicable): = $ 7,325,193
(vi) Multiplier prescribed by Section 6(b)
of the Securities Act of 1933 or other
applicable law or regulation (see
Instruction C.6): x 1/3300
(vii) Fee due [line (i) or line (v)
multiplied by line (vi)]: = $ 2,219.76
Instruction: Issuers should complete lines (ii), (iii), (iv), and (v)
only if the form is being filed within 60 days after the
close of the issuer's fiscal year. See instruction C.3.
13. Check box if fees are being remitted to the Commission's
lockbox depository as described in section 3a of the
Commissions's Rules of Informal and Other Procedures
(17 CFR 202.3a). [X]
Date of mailing or wire transfer of filing fees to the
Commission's lockbox depository:
SIGNATURES
This report has been signed below by the following persons on behalf of
the issuer and in the capacities and on the dates indicated.
Carmen F. Deyesu, Treasurer
By (Signature and Title)*
April 22, 1997
SHEREFF, FRIEDMAN, HOFFMAN & GOODMAN, LLP
919 THIRD AVENUE
NEW YORK, NEW YORK 10022-9998
(212) 758-9500
April 23, 1997
T. Rowe Price California Tax-Free Income Trust
100 East Pratt Street
Baltimore, Maryland 21202
Dear Sirs:
T. Rowe Price California Tax-Free Income Trust
(the "Trust"), an unincorporated business trust organized
under the laws of the Commonwealth of Massachusetts, is filing
with the Securities and Exchange Commission (the "Commission")
a Rule 24f-2 Notice (the "24f-2 Notice"), on behalf of
California Tax-Free Bond Fund and California Tax-Free Money
Fund, containing the information contained in paragraph (b)(1)
of Rule 24f-2 under the Investment Company Act of 1940, as
amended (the "Rule"). The effect of the Rule 24f-2 Notice,
when accompanied by the filing fee, if any, payable as
prescribed by paragraph (c) of the Rule and by this opinion,
will be to make definite in number the number of shares sold
by the Trust during the fiscal year ended February 28, 1997 in
reliance upon the Rule (the "Rule 24f-2 Shares").
We have, as counsel to the Trust, participated in
various proceedings relating to the Trust and to the Rule 24f-2 Shares.
We have examined copies, either certified or
otherwise proved to our satisfaction to be genuine, of its
Master Trust Agreement and By-laws, as currently in effect,
and a certificate dated April 2, 1997 issued by the Secretary
of the Commonwealth of the Commonwealth of Massachusetts,
certifying the existence and good standing of the Trust. We
have also reviewed the form of the Rule 24f-2 Notice being
filed by the Trust. We are generally familiar with the
business affairs of the Trust.
The Trust has advised us that the Rule 24f-2
Shares were sold in the manner contemplated by the prospectus
of the Trust that was current and effective under the
Securities Act of 1933 at the time of the sale, and that the
Rule 24f-2 Shares were sold for a consideration not less than
the net asset value thereof as required by the Investment
Company Act of 1940, as amended.
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 and unlimited
number of shares.
3. The Rule 24f-2 Shares were legally issued and are
fully paid and non-assessable. However, we note
that as set forth in the Registration Statement,
the Trust's shareholders might, under certain
circumstances, be liable for transactions
effected by the Trust.
We hereby consent to the filing of this opinion
with the Commission together with the Rule 24f-2 Notice of the
Trust, and to the filing of this opinion under the securities
laws 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 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 and regulations of regulatory bodies of
that Commonwealth.
Very truly yours,
/s/ Shereff, Friedman, Hoffman & Goodman, LLP
Shereff, Friedman, Hoffman & Goodman, LLP
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