CUSTODY AGREEMENT by and between EACH FUND LISTED ON THE SIGNATURE PAGE HERETO and THE BANK OF NEW YORK MELLONCustody Agreement • July 25th, 2016 • Aquila Municipal Trust • New York
CUSTODY AGREEMENT, dated as of the latest date set forth on the signature page hereto, between each investment company listed on the signature page hereto (each, a "Fund" and collectively, the "Funds") and THE BANK OF NEW YORK MELLON, a bank organized under the laws of the state of New York (the "Custodian").
AQUILA NARRAGANSETT TAX-FREE INCOME FUND SUB-ADVISORY AGREEMENTSub-Advisory Agreement • July 25th, 2016 • Aquila Municipal Trust
THIS AGREEMENT, made as of December 1, 2015 by and between AQUILA INVESTMENT MANAGEMENT LLC, a Delaware limited liability company (the "Manager"), 120 West 45th Street, Suite 3600, New York, New York 10036 and CITIZENS INVESTMENT ADVISORS, (the "Sub-Adviser"), a department of Citizens Bank, N.A., One Citizens Plaza, Providence, Rhode Island 02903-1339.
AQUILA INVESTMENT MANAGEMENT LLCAquila Municipal Trust • July 25th, 2016
