<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
076 000400 0.00
SIGNATURE DANA R. SUTTON
TITLE SR VP AND TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information from the AIM Tax-Free
Intermediate Fund March 31, 2000 annual report.
</LEGEND>
<CIK> 0000909466
<NAME> AIM TAX-EXEMPT FUNDS, INC.
<SERIES>
<NUMBER> 1
<NAME> AIM TAX-FREE INTERMEDIATE FUND
<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information from the AIM
Tax-Exempt Bond Fund of Connecticut March 31, 2000 annual report.
</LEGEND>
<CIK> 0000909466
<NAME> AIM TAX-EXEMPT FUNDS, INC.
<SERIES>
<NUMBER> 2
<NAME> AIM TAX-EXEMPT BOND FUND OF CONNECTICUT
<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information from the AIM
Tax-Exempt Cash Fund March 31, 2000 annual report.
</LEGEND>
<CIK> 0000909466
<NAME> AIM TAX-EXEMPT FUNDS, INC.
<SERIES>
<NUMBER> 3
<NAME> AIM TAX EXEMPT CASH FUND
<S> <C>
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<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.80
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information from the AIM High
Income Municipal Fund Class A Shares March 31, 2000 annual report.
</LEGEND>
<CIK> 0000909466
<NAME> AIM TAX-EXEMPT FUNDS, INC.
<SERIES>
<NUMBER> 4
<NAME> AIM HIGH INCOME MUNICIPAL FUND CLASS A SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-END> MAR-31-2000
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<SHARES-COMMON-PRIOR> 6615566
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 63043329
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<INTEREST-INCOME> 4312230
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<EXPENSES-NET> (503911)
<NET-INVESTMENT-INCOME> 3808319
<REALIZED-GAINS-CURRENT> (3732037)
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<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 4846029
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<SHARES-REINVESTED> 228336
<NET-CHANGE-IN-ASSETS> (3393334)
<ACCUMULATED-NII-PRIOR> 42750
<ACCUMULATED-GAINS-PRIOR> (11395)
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 400884
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<GROSS-EXPENSE> 1024403
<AVERAGE-NET-ASSETS> 44793328
<PER-SHARE-NAV-BEGIN> 10.04
<PER-SHARE-NII> 0.56
<PER-SHARE-GAIN-APPREC> (1.32)
<PER-SHARE-DIVIDEND> (0.56)
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<PER-SHARE-NAV-END> 8.72
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information from the AIM High
Income Municipal Fund Class B Shares March 31, 2000 annual report.
</LEGEND>
<CIK> 0000909466
<NAME> AIM TAX-EXEMPT FUNDS, INC.
<SERIES>
<NUMBER> 4
<NAME> AIM HIGH INCOME MUNICIPAL FUND CLASS B SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 68200301
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<ASSETS-OTHER> 42346
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 64186373
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 289458
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 72624428
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<ACCUMULATED-NII-CURRENT> 68799
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3743432)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (5906466)
<NET-ASSETS> 63043329
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4312230
<OTHER-INCOME> 0
<EXPENSES-NET> (503911)
<NET-INVESTMENT-INCOME> 3808319
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3783931)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4846029
<NUMBER-OF-SHARES-REDEEMED> (4462547)
<SHARES-REINVESTED> 228336
<NET-CHANGE-IN-ASSETS> (3393334)
<ACCUMULATED-NII-PRIOR> 42750
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 400884
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1024403
<AVERAGE-NET-ASSETS> 17845864
<PER-SHARE-NAV-BEGIN> 10.04
<PER-SHARE-NII> 0.48
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<EXPENSE-RATIO> 1.26
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information from the AIM High
Income Municipal Fund Class C Shares March 31, 2000 annual report.
</LEGEND>
<CIK> 0000909466
<NAME> AIM TAX-EXEMPT FUNDS, INC.
<SERIES>
<NUMBER> 4
<NAME> AIM HIGH INCOME MUNICIPAL FUND CLASS C SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 68200301
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<RECEIVABLES> 1850192
<ASSETS-OTHER> 42346
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 64186373
<PAYABLE-FOR-SECURITIES> 853586
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 289458
<TOTAL-LIABILITIES> 1143044
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 72624428
<SHARES-COMMON-STOCK> 7227384
<SHARES-COMMON-PRIOR> 6615566
<ACCUMULATED-NII-CURRENT> 68799
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3743432)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (5906466)
<NET-ASSETS> 63043329
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4312230
<OTHER-INCOME> 0
<EXPENSES-NET> (503911)
<NET-INVESTMENT-INCOME> 3808319
<REALIZED-GAINS-CURRENT> (3732037)
<APPREC-INCREASE-CURRENT> (5956529)
<NET-CHANGE-FROM-OPS> (5880247)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3783931)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
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<NUMBER-OF-SHARES-REDEEMED> (4462547)
<SHARES-REINVESTED> 228336
<NET-CHANGE-IN-ASSETS> (3393334)
<ACCUMULATED-NII-PRIOR> 42750
<ACCUMULATED-GAINS-PRIOR> (11395)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 400884
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1024403
<AVERAGE-NET-ASSETS> 4174621
<PER-SHARE-NAV-BEGIN> 10.04
<PER-SHARE-NII> 0.48
<PER-SHARE-GAIN-APPREC> (1.32)
<PER-SHARE-DIVIDEND> (0.48)
<PER-SHARE-DISTRIBUTIONS> 0.00
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</TABLE>
AIM TAX-EXEMPT FUNDS, INC.
ARTICLES SUPPLEMENTARY
AIM TAX-EXEMPT FUNDS, INC., a Maryland corporation (hereinafter
called the "Corporation"), hereby certifies to the State Department of
Assessments and Taxation of Maryland that:
FIRST: The Board of Directors of the Corporation, by resolutions
duly adopted at a meeting duly called and held on December 8, 1999, has:
(a) increased the aggregate number of shares of stock that the
Corporation has authority to issue from Seven Billion
(7,000,000,000) to Eight Billion Seven Hundred Million
(8,700,000,000) shares,
(b) classified and designated such newly authorized shares
(collectively, the "Shares") as follows: Two Hundred
Million (200,000,000) shares as shares of the AIM High
Income Municipal Fund - Class A Shares, Two Hundred
Million (200,000,000) shares as shares of the AIM High
Income Municipal Fund - Class B Shares, Two Hundred
Million (200,000,000) shares as shares of the AIM High
Income Municipal Fund - Class C Shares, Two Hundred
Million (200,000,000) shares as shares of the AIM
Tax-Exempt Cash Fund - Class A Shares, Two Hundred
Million (200,000,000) shares as shares of the AIM
Tax-Exempt Bond Fund of Connecticut - Class A Shares, Two
Hundred Million (200,000,000) shares as shares of the AIM
Tax-Free Intermediate Fund - Class A Shares, and Five
Hundred Million (500,000,000) shares as unclassified,
with the preferences, conversion and other rights, voting
powers, restrictions, limitations as to dividends,
qualifications and terms and conditions of redemption of
shares of stock as set forth in ARTICLE FIFTH, paragraph
(b) of the Charter of the Corporation (the "Charter"), in
any other provisions of the Charter relating to the stock
of the Corporation generally and in ARTICLE EIGHTH of the
Corporation's Articles Supplementary dated September 29,
1997 as filed with the State Department of Assessments
and Taxation of Maryland, and
(c) ratified and confirmed the issuance of shares of Common
Stock of the Corporation, of each class of whatever
portfolio, as reflected in the records of the Corporation,
and further declared and confirmed that each such share,
of whatever class of whatever portfolio, is duly
authorized, validly issued, fully paid and nonassessable.
SECOND: Immediately prior to the filing of these Articles
Supplementary, the Corporation had authority to issue Seven Billion
(7,000,000,000) shares, $.001 par value per share, having an aggregate par
value of $7,000,000, of which:
<PAGE>
(a) One Billion (1,000,000,000) shares are classified as AIM
High Income Municipal Fund - Class A Shares, One Billion
(1,000,000,000) shares are classified as AIM Tax-Exempt
Cash Fund - Class A Shares, One Billion (1,000,000,000)
shares are classified as AIM Tax-Exempt Bond Fund of
Connecticut - Class A Shares, and One Billion
(1,000,000,000) shares are classified as AIM Tax-Free
Intermediate Fund - Class A Shares;
(b) One Billion (1,000,000,000) shares are classified as AIM
High Income Municipal Fund - Class B Shares;
(c) One Billion (1,000,000,000) shares are classified as AIM
High Income Municipal Fund - Class C Shares; and
(d) One Billion (1,000,000,000) shares are unclassified.
THIRD: As of the filing of these Articles Supplementary, the
Corporation shall have authority to issue Eight Billion Seven Hundred Million
(8,700,000,000) shares, $.001 par value per share, having an aggregate par
value of $8,700,000, of which:
(a) One Billion Two Hundred Million (1,200,000,000) shares are
classified as AIM High Income Municipal Fund - Class A
Shares, One Billion Two Hundred Million (1,200,000,000)
shares are classified as AIM Tax-Exempt Cash Fund - Class
A Shares, One Billion Two Hundred Million (1,200,000,000)
shares are classified as AIM Tax-Exempt Bond Fund of
Connecticut - Class A Shares, and One Billion Two Hundred
Million (1,200,000,000) shares are classified as AIM
Tax-Free Intermediate Fund - Class A Shares;
(b) One Billion Two Hundred Million (1,200,000,000) shares are
classified as AIM High Income Municipal Fund - Class B
Shares;
(c) One Billion Two Hundred Million (1,200,000,000) shares are
classified as AIM High Income Municipal Fund - Class C
Shares; and
(d) One Billion Five Hundred Million (1,500,000,000) shares
are unclassified.
FOURTH: The Corporation is registered as an open-end company under
the Investment Company Act of 1940.
FIFTH: The total number of shares of capital stock that the
Corporation had authority to issue immediately prior to the filing of these
Articles Supplementary was increased and such additional shares were classified
by the Board of Directors of the Corporation in accordance with section
2-105(c) of the Maryland General Corporation Law.
SIXTH: The Shares were classified by the Board of Directors of the
Corporation under authority granted to it in ARTICLE FIFTH, paragraph (a) of
the Charter.
2
<PAGE>
The undersigned Vice President acknowledges these Articles
Supplementary to be the corporate act of the Corporation and states that to the
best of his or her knowledge, information and belief, the matters and facts set
forth in these Articles with respect to authorization and approval are true in
all material respects and that this statement is made under the penalties for
perjury.
IN WITNESS WHEREOF, AIM TAX-EXEMPT FUNDS, INC. has caused these
Articles Supplementary to be executed in its name and on its behalf by its Vice
President and witnessed by its Assistant Secretary on December __, 1999.
AIM TAX-EXEMPT FUNDS, INC.
Witness:
_____________________________ By:____________________________
Assistant Secretary Vice President
3
SUB-ITEM 77D(E)
POLICIES WITH RESPECT TO
SECURITY INVESTMENTS
AIM TAX-EXEMPT FUNDS, INC.
Effective as of February 4, 2000, each of the Funds of AIM
Tax-Exempt Funds, Inc. may invest in other investment companies to the
extent permitted by the 1940 Act, and rules and regulations thereunder,
and if applicable, exemptive orders granted by the SEC. The following
restrictions apply to investments in other investment companies other
than Affiliated Money Market Funds: (i) a Fund may not purchase more than
3% of the total outstanding voting stock of another investment company;
(ii) a Fund may not invest more than 5% of its total assets in securities
issued by another investment company; and (iii) a Fund may not invest
more than 10% of its total assets in securities issued by other
investment companies other than Affiliated Money Market Funds. With
respect to a Fund's purchase of shares of another investment company,
including Affiliated Money Market Funds, the Fund will indirectly bear
its proportionate share of the advisory fees and other operating expenses
of such investment company.
