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AIM TAX-EXEMPT CASH FUND
AIM TAX-EXEMPT BOND FUND OF CONNECTICUT
AIM TAX-FREE INTERMEDIATE SHARES
(SERIES PORTFOLIOS OF
AIM TAX-EXEMPT FUNDS, INC.)
Supplement dated December 16, 1996
to the Statement of Additional Information dated August 1, 1996
On December 11, 1996, the Board of Directors of AIM Tax-Exempt Funds,
Inc. approved, subject to shareholder approval, the elimination of or changes
to certain fundamental investment policies of each of AIM Tax-Exempt Cash Fund,
AIM Tax-Exempt Bond Fund of Connecticut and AIM Tax-Free Intermediate Shares
(the "Funds"). Shareholders of each Fund will be asked to approve these
changes at an annual meeting of shareholders to be held on February 7, 1997.
If approved, these changes will become effective as of March 1, 1997.
Reference is made to Investment Restriction 9 of each of AIM
Tax-Exempt Cash Fund, the Intermediate Portfolio and AIM Tax-Exempt Bond Fund
of Connecticut, set forth on pages 11 and 12 of the Funds' Statement of
Additional Information. The Board of Directors has approved the elimination of
Investment Restriction 9 of each of the Funds. In the event shareholders
approve the proposed changes, Investment Restriction 9 of each of the Funds
will no longer apply.
