Aquila Management Corp. of New York, adviser to the Tax-Free Fund for Utah, the sole single-state municipal bond fund in Utah, notified shareholders that Zions First National Bank intends to resign as the fund’s sub-adviser sometime before its contract expires in September.

Zions First National Bank is a subsidiary of Zions Bancorporation, both of Salt Lake City. Zions' March 16 resignation was disclosed in a March 28 fund filing.

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