This fund typically commits a minimum of 80% of its total investment capital to municipal debt instruments. The earnings generated from these securities are not subject to federal income tax. For the purpose of this particular guideline, "Assets" refers to the fund's net assets, augmented by any funds borrowed for investment purposes. The fund also has the flexibility to dedicate its entire asset base, up to 100%, to short-maturity municipal obligations, which can include instruments like variable rate demand notes, short-term municipal notes, and tax-exempt commercial paper.