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<PAGE> PAGE 2
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<PAGE> PAGE 3
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SIGNATURE ROBERT ANDERSON
TITLE COMPLIANCE OFFICER
CHURCHILL TAX-FREE FUND OF KENTUCKY
Shareholder Meeting Results (unaudited)
The Annual Meeting of Shareholders of Churchill Tax-Free
Fund of Kentucky (the "Fund") was held on April 23, 1999.
The holders of shares representing 71% of the total net asset
value of the shares entitled to vote were present in person or
by proxy. At the meeting, the following matters were voted upon
and approved by the shareholders (the resulting votes for each
matter are presented below).
1. To elect Trustees.
Number of Votes:
Trustee For Withheld
Lacy B. Herrmann 174,223,169 2,611,811
Thomas A. Christopher 174,276,660 2,558,320
Douglas Dean 174,276,660 2,558,320
Diana P. Herrmann 174,452,657 2,382,324
Carroll F. Knicely 174,452,657 2,382,324
Theodore T. Mason 174,452,657 2,382,324
Anne J. Mills 174,556,617 2,278,363
William J. Nightingale 174,556,617 2,278,363
James R. Ramsey 174,556,617 2,278,363
2. To ratify the selection of KPMG LLP as the Fund's independent
auditors.
Number of Votes:
For Against Abstain
172,046,876 741,812 4,046,281
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<CIK> 0000812006
<NAME> CHURCHILL TAX-FREE FUND OF KENTUCKY
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<NUMBER> 001
<NAME> CLASS A SHARES
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<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
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<TOTAL-LIABILITIES> 4,952,751
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<PAID-IN-CAPITAL-COMMON> 229,152,586
<SHARES-COMMON-STOCK> 21,072,318
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<OVERDISTRIBUTION-NII> 97,987
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<NET-ASSETS> 221,314,128
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6,788,025
<OTHER-INCOME> 0
<EXPENSES-NET> 861,401
<NET-INVESTMENT-INCOME> 5,926,624
<REALIZED-GAINS-CURRENT> (431,379)
<APPREC-INCREASE-CURRENT> (6,586,669)
<NET-CHANGE-FROM-OPS> (1,091,424)
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0
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<NET-CHANGE-IN-ASSETS> (7,707,713)
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<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-EXPENSE> 870,901
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<PER-SHARE-NAV-BEGIN> 10.81
<PER-SHARE-NII> .26
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<EXPENSE-RATIO> .72
</TABLE>
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<CIK> 0000812006
<NAME> CHURCHILL TAX-FREE FUND OF KENTUCKY
<SERIES>
<NUMBER> 003
<NAME> CLASS C SHARES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 228,912,023
<INVESTMENTS-AT-VALUE> 236,766,765
<RECEIVABLES> 4,392,169
<ASSETS-OTHER> 900
<OTHER-ITEMS-ASSETS> 1,036,294
<TOTAL-ASSETS> 242,196,128
<PAYABLE-FOR-SECURITIES> 4,352,169
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<TOTAL-LIABILITIES> 4,952,751
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<OVERDISTRIBUTION-NII> 97,987
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<OVERDISTRIBUTION-GAINS> 0
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<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> 5,926,624
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<APPREC-INCREASE-CURRENT> (6,586,669)
<NET-CHANGE-FROM-OPS> (1,091,424)
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<DISTRIBUTIONS-OF-INCOME> 23,370
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 79,802
<NUMBER-OF-SHARES-REDEEMED> 2,357
<SHARES-REINVESTED> 1,657
<NET-CHANGE-IN-ASSETS> (7,707,713)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 765,415
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 870,901
<AVERAGE-NET-ASSETS> 1,152,527
<PER-SHARE-NAV-BEGIN> 10.81
<PER-SHARE-NII> .21
<PER-SHARE-GAIN-APPREC> (.30)
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<EXPENSE-RATIO> 1.57
</TABLE>
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<CIK> 0000812006
<NAME> CHURCHILL TAX-FREE FUND OF KENTUCKY
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<PAYABLE-FOR-SECURITIES> 4,352,169
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<TOTAL-LIABILITIES> 4,952,751
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 229,152,586
<SHARES-COMMON-STOCK> 1,349,066
<SHARES-COMMON-PRIOR> 1,324,689
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 97,987
<ACCUMULATED-NET-GAINS> 334,036
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,854,742
<NET-ASSETS> 14,177,027
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6,788,025
<OTHER-INCOME> 0
<EXPENSES-NET> 861,401
<NET-INVESTMENT-INCOME> 5,926,624
<REALIZED-GAINS-CURRENT> (431,379)
<APPREC-INCREASE-CURRENT> (6,586,669)
<NET-CHANGE-FROM-OPS> (1,091,424)
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<DISTRIBUTIONS-OF-INCOME> 393,094
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-REDEEMED> 352,375
<SHARES-REINVESTED> 1,137
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<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 870,901
<AVERAGE-NET-ASSETS> 15,544,742
<PER-SHARE-NAV-BEGIN> 10.82
<PER-SHARE-NII> .27
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<PER-SHARE-DIVIDEND> .27
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.51
<EXPENSE-RATIO> .57
</TABLE>
