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AIM TAX-EXEMPT FUNDS
AIM TAX-EXEMPT CASH FUND
AIM TAX-FREE INTERMEDIATE FUND
AIM TAX-EXEMPT BOND FUND OF CONNECTICUT
AIM HIGH INCOME MUNICIPAL FUND
Supplement dated December 14, 2000
to the Statement of Additional Information dated July 28, 2000,
as supplemented August 4, 2000 and September 29, 2000
This supplement supersedes and replaces in its entirety the supplements dated
August 4, 2000 and September 29, 2000.
The following replaces in its entirety the fourth paragraph appearing under the
heading "INVESTMENT STRATEGIES AND RISKS -- MUNICIPAL SECURITIES" on page 12 of
the Statement of Additional Information:
"Also included in "municipal securities" are municipal lease
obligations, which may take the form of a lease, an installment
purchase or a conditional sales contract. Municipal lease obligations
are issued by state and local governments and authorities to acquire
land, equipment and facilities such as state and municipal vehicles,
telecommunications and computer equipment, and other capital assets.
Interest payments on qualifying municipal leases are exempt from
federal income taxes. AIM HIGH INCOME MUNICIPAL FUND and AIM TAX-EXEMPT
BOND FUND OF CONNECTICUT may purchase these obligations directly, or
they may purchase participation interests in such obligations.
Municipal leases are generally subject to greater risks than general
obligation or revenue bonds. State laws set forth requirements that
states or municipalities must meet in order to issue municipal
obligations, and such obligations may contain a covenant by the issuer
to budget for, appropriate, and make payments due under the obligation.
However, certain municipal lease obligations may contain
"non-appropriation" clauses which provide that the issuer is not
obligated to make payments on the obligation in future years unless
funds have been appropriated for this purpose each year. Accordingly,
such obligations are subject to "non-appropriation" risk. While
municipal leases are secured by the underlying capital asset, it may be
difficult to dispose of such assets in the event of non-appropriation
or other default. All direct investments by the Funds in municipal
lease obligations shall be deemed illiquid and shall be valued
according to each Fund's Procedures for Valuing Securities current at
the time of such valuation."
The following replaces in its entirely the table appearing under the heading
"MANAGEMENT - TRUSTEES AND OFFICERS" on page 28, 29 and 30 of the Statement of
Additional Information:
<TABLE>
<CAPTION>
POSITION HELD PRINCIPAL OCCUPATION DURING AT LEAST
"NAME, ADDRESS AND AGE WITH REGISTRANT THE PAST 5 YEARS
---------------------- --------------- ------------------------------------
<S> <C> <C>
BRUCE L. CROCKETT (56) Trustee Director, ACE Limited (insurance company).
906 Frome Lane Formerly, Director, President and Chief
McLean, VA 22102 Executive Officer, COMSAT Corporation and
Chairman, Board of Governors of INTELSAT
(international communications company).
OWEN DALY II (75) Trustee Formerly, Director, The Cortland Trust
Six Blythewood Road (investment company), CF & I Steel Corp.,
Baltimore, MD 21210 Monumental Life Insurance Company and
Monumental General Insurance Company; and
Chairman of the Board of Equitable
Bancorporation.
</TABLE>
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<TABLE>
<CAPTION>
POSITION HELD PRINCIPAL OCCUPATION DURING AT LEAST
NAME, ADDRESS AND AGE WITH REGISTRANT THE PAST 5 YEARS
--------------------- --------------- ------------------------------------
<S> <C> <C>
ALBERT R. DOWDEN (59) Trustee Chairman of the Board of Directors, The
1815 Central Park Drive Cortland Trust (investment company) and DHJ
P.O. Box 774000-PMB #222 Media, Inc.; and Director, Magellan Insurance
Steamboat Springs, CO 80477 Company. Formerly, Director, President and
Chief Executive Officer, Volvo Group North
America, Inc.; Senior Vice President, AB Volvo;
and Director, The Hertz Corporation, Genmar
Corporation (boat manufacturer), National Media
Corporation and Annuity and Life Re (Holdings),
Ltd.
EDWARD K. DUNN, JR. (65) Trustee Chairman of the Board of Directors, Mercantile
2 Hopkins Plaza, 8th Floor, Suite 805 Mortgage Corp. Formerly, Vice Chairman of the
Baltimore, MD 21201 Board of Directors, President and Chief
Operating Officer, Mercantile - Safe Deposit &
Trust Co.; and President, Mercantile Bankshares.
JACK FIELDS (48) Trustee Chief Executive Officer, Texana Global Inc.
34 New Jersey Avenue, S.E. (foreign trading company) and Twenty First
Washington, D.C. 20003 Century Group, Inc. (governmental affairs
company). Formerly, Member of the U.S. House
of Representatives.
*CARL FRISCHLING (63) Trustee Partner, Kramer Levin Naftalis & Frankel LLP
919 Third Avenue (law firm).
New York, NY 10022
**ROBERT H. GRAHAM (53) Trustee, Chairman Director, President and Chief Executive
and President Officer, A I M Management Group Inc.; Director
and President, A I M Advisors, Inc.; Director
and Senior Vice President, A I M Capital
Management, Inc., A I M Distributors, Inc.,
A I M Fund Services, Inc. and Fund Management
Company; and Director and Chief Executive
Officer, Managed Products, AMVESCAP PLC.
PREMA MATHAI-DAVIS (49) Trustee Formerly, Chief Executive Officer, YWCA
170 East 83rd Street of the USA.
New York, NY 10028
</TABLE>
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* A trustee who is an "interested person" of the Trust as defined in
the 1940 Act.
** A trustee who is an "interested person" of AIM and the Trust as
defined in the 1940 Act.
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<TABLE>
<CAPTION>
POSITION HELD PRINCIPAL OCCUPATION DURING AT LEAST
NAME, ADDRESS AND AGE WITH REGISTRANT THE PAST 5 YEARS
--------------------- --------------- ------------------------------------
<S> <C> <C>
LEWIS F. PENNOCK (57) Trustee Partner, Pennock & Cooper (law firm).
6363 Woodway, Suite 825
Houston, TX 77057
LOUIS S. SKLAR (60) Trustee Executive Vice President, Development and
The Williams Tower, 50th Floor Operations, Hines Interests Limited Partnership
2800 Post Oak Blvd. (real estate development).
Houston, TX 77056
GARY T. CRUM (52) Senior Vice Director and President, A I M Capital
President Management, Inc.; Director and Executive Vice
President, A I M Management Group Inc.;
Director and Senior Vice President,
A I M Advisors, Inc.; and Director, A I M
Distributors, Inc. and AMVESCAP PLC.
CAROL F. RELIHAN (45) Senior Vice Director, Senior Vice President, General
President and Counsel and Secretary, A I M Advisors, Inc.;
Secretary Senior Vice President, General Counsel and
Secretary, A I M Management Group Inc.;
Director, Vice President and General Counsel,
Fund Management Company; Vice President and
General Counsel, A I M Fund Services, Inc. and
Vice President, A I M Capital Management, Inc.
and A I M Distributors, Inc.
DANA R. SUTTON (41) Vice President and Vice President and Fund Controller,
Treasurer A I M Advisors, Inc.; and Assistant Vice
President and Assistant Treasurer, Fund
Management Company.
STUART W. COCO (45) Vice President Senior Vice President, A I M Capital
Management, Inc. and Vice President,
A I M Advisors, Inc.
MELVILLE B. COX (56) Vice President Vice President and Chief Compliance Officer,
A I M Advisors, Inc., A I M Capital Management,
Inc., A I M Distributors, Inc., A I M Fund
Services, Inc. and Fund Management Company.
KAREN DUNN KELLEY (40) Vice President Senior Vice President, A I M Capital
Management, Inc. and Vice President,
A I M Advisors, Inc."
</TABLE>
