Exhibit 23(l)
PURCHASE AGREEMENT
The Gabelli Utilities Fund (the "Fund"), a Delaware business trust,
and Gabelli Asset Management Inc. (the "Buyer") hereby agree as follows:
1. The Fund hereby offers the Buyer and the Buyer hereby purchases
10,000 shares of the Fund's Class AAA Shares (the "Shares") at a price of
$10.00 per Share. The Shares are the "initial Class AAA Shares" of the
Fund. The Buyer hereby acknowledges receipt of a purchase confirmation
reflecting the purchase of the Shares, and the Fund hereby acknowledges
receipt from the Buyer of funds in the amount of $100,000 in full payment
for the Shares.
2. The Buyer represents and warrants to the Fund that the Shares
purchased by the Buyer are being acquired for investment purposes and not
for the purpose of distribution.
3. This Agreement has been executed on behalf of the Fund by the
undersigned officer of the Fund in his or her capacity as an officer of the
Fund.
4. This Agreement may be executed in counterparts, each of which
shall be deemed to be an original, but such counterparts shall, together,
constitute only one instrument.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the 3rd day of August, 1999.
Attest: THE GABELLI UTILITES FUND
Xxxxx X. XxXxx By:/s/ Xxxxx Xxxxxx
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Attest: GABELLI ASSET MANAGEMENT INC.
Xxxxx X. XxXxx By:/s/ Xxxxx Xxxxxx
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