Sub-Item 77L: Changes in Accounting Principles and Practices

Changes in Method of Accounting For Bond Premium and Discount Amortization

Effective November 1, 2004, the Fund began amortizing discounts and premiums on
all debt securities.  Prior to November 1, 2004, the Fund amortized discounts on
original issue discount debt securities.  The new method of amortization was
adopted in accordance with the provisions of the AICPA Audit and Accounting
Guide, Audits of Investment Companies and the financial highlights and statement
of changes in net assets presented in the April 30, 2005 semi-annual reports to
shareholders have been restated to reflect the new method retroactive to
November 1, 2001.

The effect of this accounting change is included in the financial highlights for
the years ended October 31, 2002, 2003 and 2004, and in the statement of
changes in net assets for the year ended October 31, 2004.  The cumulative
effect of this accounting change had no impact on the total net assets of the
Fund or on distributions for tax purposes, but resulted in a $103,986 increase
in the cost of securities held and a corresponding $103,986 reduction in the net
unrealized gains based on the securities held on November 1, 2001.  The impact
of this change during the six months ended April 30, 2005 was to reduce net
investment income by $41,542, increase unrealized losses by $73,950 and increase
realized gains by $115,492.  These changes had no effect on previously reported
total net assets or total returns.