Exhibit (13)(d)
PURCHASE AGREEMENT
Purchase Agreement dated April 5, 1993 between IBM Mutual Funds, a
business trust organized under the laws of the Commonwealth of Massachusetts
(the "Trust"), and IBM Credit Corporation, a corporation organized under the
laws of Delaware ("IBM Credit").
WHEREAS, the Trust is an investment company registered under the
Investment Company Act of 1940, as amended (the "1940 Act"); and
WHEREAS, the Trust proposes to issue and sell shares of beneficial
interest, par value $.001 per share (the "Shares"), of its IBM Municipal Bond
Fund (the "Fund") to the public pursuant to a Registration Statement on Form
N-1A filed with the Securities and Exchange Commission.
NOW THEREFORE, the Trust and IBM Credit agree as follows:
1. The Trust offers to sell to IBM Credit, and IBM Credit
agrees to purchase from the Trust, one Share of the Fund at
a price of $10.00 per Share on the date hereof.
2. IBM Credit represents and warrants to the Trust that IBM
Credit is acquiring the Share of the Fund for investment
purposes only and that the Share will be sold only pursuant
to a registration statement under the Securities Act of
1933, as amended, or an applicable exemption from those
registration requirements.
3. IBM Credit's right under this Purchase Agreement to purchase
the Share is not assignable.
IN WITNESS WHEREOF, the Trust and IBM Credit have caused their
duly authorized officers and to execute this Purchase Agreement as of the
date first above written.
IBM MUTUAL FUNDS
By: /s/ Xxxx X. Xxxxxx
----------------------------
Name: Xxxx X. Xxxxxx
Title: Vice President
IBM CREDIT CORPORATION
By: /s/ Xxxxxx X. Xxxxxx
----------------------------
Name: Xxxxxx X. Xxxxxx
Title: Vice President
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