EXHIBIT 99.13 FORM OF PURCHASE AGREEMENT PURCHASE AGREEMENT -South Dakota Tax- Free Fund, Inc. (the "Fund"), a corporation organized under the laws of the State of North Dakota which proposes to register under the Investment Company Act of 1940, and...

 
                                                                   EXHIBIT 99.13



                          FORM OF PURCHASE AGREEMENT

 
                              PURCHASE AGREEMENT

    -South Dakota Tax-Free Fund, Inc. (the "Fund"), a corporation organized
under the laws of the State of North Dakota which proposes to register under the
Investment Company Act of 1940, and ND Capital, Inc. ("Capital"), a corporation
organized under the laws of the State of North Dakota which proposes to act as
the Fund's principal underwriter, hereby agree as follows:

    1.    The Fund offers Capital and Capital hereby purchases 10,000 shares of
the Fund, par value $.001 (the "Shares"), for $10 per Share for the aggregate
purchase price of $100,000.

    2.    Capital represents and warrants to the Fund that the Shares are being
acquired for investment purposes without any present intention of redeeming or
reselling them.

    IN  WITNESS WHEREOF, the parties hereto have executed this Agreement this
26th day of October, 1993.

                                         ND CAPITAL INC.


                              By    Xxxxxx X. Xxxxxxx
                                    President


          ATTEST

          Xxxxx X. Xxxxx
          Secretary

                         SOUTH DAKOTA TAX-FREE FUND, INC.


                         By   Xxxxxx X. Xxxxxxx
                              President

          ATTEST:

          Xxxxx X. Xxxxx
          Secretary