TAX-FREE TRUST OF ARIZONA
TAX-FREE FUND OF COLORADO
HAWAIIAN TAX-FREE TRUST
CHURCHILL TAX-FREE FUND OF KENTUCKY
TAX-FREE TRUST OF OREGON
AQUILA NARRAGANSETT TAX-FREE INCOME FUND
TAX-FREE FUND FOR UTAH
AQUILA THREE PEAKS HIGH INCOME FUND
THREE PEAKS OPPORTUNITY GROWTH FUND
PACIFIC CAPITAL CASH ASSETS TRUST
PACIFIC CAPITAL TAX-FREE CASH ASSETS TRUST
PACIFIC CAPITAL U.S. GOVERNMENT SECURITIES CASH ASSETS TRUST
AQUILA INVESTMENT MANAGEMENT LLC
In providing services to you as an individual who owns or is considering
investing in shares of the Aquila Group of Funds, we collect
certain non-public personal information about you. Our policy is to keep
this information strictly safeguarded and confidential, and to use or
disclose it only as necessary to provide services to you or as otherwise
and persons who inquire about a fund.
Collect. "Non-public personal information" is personally
identifiable financial information about you as an individual or your
family. The kinds of non-public personal information we have about you
may include the information you provide us on your share purchase application
or in telephone calls or correspondence with us, and information about
your fund transactions and holdings, how you voted your shares and the
account where your shares are held.
Disclose. We disclose non-public personal information about you to
companies that provide necessary services to us, such as a fund's transfer
agent, distributor, investment adviser or sub-adviser, if any, as permitted or
required by law, or as authorized by you. Any other use is strictly prohibited.
We do not sell information about you or any of our fund shareholders to
Non-California Residents: We also may disclose some of this information to another fund in the
Aquila Group of Funds (or its service providers) under joint marketing agreements that permit the
funds to use the information only to provide you with information about other funds in the Aquila
Group of Funds or new services we are offering that may be of interest to you.
California Residents Only: In addition, unless you “opt-out” of the following disclosures using
the form that was mailed to you under separate cover, we may disclose some of this information to another fund in the Aquila Group of Funds (or its service providers) under joint marketing agreements that permit the funds to use the information only to provide you with information
about other funds in the Aquila Group of Funds or new services we are offering that may be of interest to you.
How We Safeguard
Your Information. We restrict access to non-public personal information
about you to only those persons who need it to provide services to you
or who are permitted by law to receive it. We maintain physical, electronic
and procedural safeguards to protect the confidentiality of all non-public
personal information we have about you.
If you have any