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EXHIBIT 13(F)
PURCHASE AGREEMENT
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Pacific Horizon Tax-Exempt Money Market Fund, Inc. (the "Fund"), a Maryland
corporation, and The Dreyfus Corporation ("Dreyfus"), a New York corporation,
hereby agree with each other as follows:
1. The Fund hereby offers Dreyfus and Dreyfus hereby purchases 99,999
shares of Class A Common Stock (par value $.001 per share) of the Fund.
Dreyfus hereby acknowledges receipt of one certificate representing 99,999
shares of the Fund's Class A Common Stock, and the Fund hereby acknowledges
receipt from Dreyfus of funds in the amount of $99,999 in full payment for the
shares purchased hereunder.
2. Dreyfus represents and warrants to the Fund that the shares purchased
hereunder are being acquired for investment purposes and not with a view to the
distribution thereof and acknowledges that the certificates for the shares
purchased hereunder will be legended to so reflect.
3. Dreyfus agrees that if any of the shares purchased hereunder or the one
(1) share of the Fund's Common Stock acquired by Pacific Horizon Tax-Exempt
Funds, Inc. (collectively, "Initial Shares") are redeemed by any holder thereof
prior to the end of the period over which the costs incurred by the Fund in
connection with its organization, registration and the initial public offering
of its shares are being amortized, Dreyfus will pay to the Fund an amount equal
to the number resulting from multiplying the total unamortized organizational
expenses by a fraction, the numerator of which is equal to the number of
Initial Shares redeemed and the denominator of which is equal to the aggregate
number of Initial Shares outstanding at the time of such redemption, to the
extent that the Fund has not otherwise been paid such amount and for so long as
it is the administrative position of the Staff of the Securities and Exchange
Commission to require such reimbursement.
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the 27th day of September, 1984.
(SEAL)
ATTEST: PACIFIC HORIZON TAX-EXEMPT
MONEY MARKET FUND, INC.
/s/ Xxxxxx X. Xxxxxx BY:/s/ W. Xxxxx XxXxxxxx, III
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Xxxxxx X. Xxxxxx W. Xxxxx XxXxxxxx, III
Assistant Secretary Secretary
(SEAL)
ATTEST: THE DREYFUS CORPORATION
/s/ Xxxxxxxxx Xxxxxxx BY:/s/ Xxxxxx X. Xxxxxxx
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Xxxxxxxxx Xxxxxxx Xxxxxx X. Xxxxxxx
Assistant Secretary Vice President and
General Counsel
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