Rule 17g-1 Filing for Registered Investment Companies

/s/ Thomas C. Mandia

Thomas C. Mandia

/s/ R. Jay Gerken

R. Jay Gerken

President, each of the Funds listed on Schedule II

Jennifer L. Whitman

INSURED

Legg Mason Growth Trust

February 26, 2010

July 1, 2009 to July 1, 2010

              /S/ Matthew Link

INSURED

Legg Mason Growth Trust

March 1, 2010

July 1, 2009 to July 1, 2010

              /S/ Matthew Link

Legg Mason Partners Money Market Trust

Legg Mason Partners Money Market Trust

Legg Mason Partners Equity Trust

Legg Mason Partners Equity Trust

Legg Mason Partners Variable Equity Trust

Legg Mason Partners Variable Equity Trust

INSURED

Legg Mason Growth Trust

July 1, 2009 to July 1, 2010

              /S/ Matthew Link

FUND NAME

EFFECTIVE DATE

ClearBridge Energy MLP Fund, Inc

May 26, 2010

Western Asset Premium Tax Free Reserves, a series of:

May 31, 2010

•   Legg Mason Partners Premium Money Market Trust

•   Legg Mason Capital Management Research Fund, a series of:

June 30, 2010

Legg Mason Global Asset Management Trust

INSURED

BOND NUMBER

Legg Mason Growth Trust

April 30, 2010

July 1, 2009 to July 1, 2010

              /S/ Matthew Link

Legg Mason Partners Variable Equity Trust

INSURED

Legg Mason Growth Trust

July 1, 2009 to July 1, 2010

              /S/ Matthew Link

Legg Mason ClearBridge Investors Value Fund, a series of:

Legg Mason ClearBridge Large Cap Value Fund a series of:

•   Legg Mason Partners Equity Trust

•   Legg Mason Partners Equity Trust

Legg Mason ClearBridge Variable Fundamental Value Portfolio, a series of:

Legg Mason ClearBridge Variable Fundamental All Cap Value Portfolio, a series of:

•   Legg Mason Partners Variable Equity Trust

•   Legg Mason Partners Variable Equity Trust

Legg Mason Global Opportunities Bond Fund, a series of:

Legg Mason BW Global Opportunities Bond Fund, a series of:

•   Legg Mason Charles Street Trust, Inc.

•   Legg Mason Charles Street Trust, Inc.

Legg Mason International Opportunities Bond Fund, a series of:

Legg Mason BW International Opportunities Bond Fund, a series of:

•   Legg Mason Global Asset Management Trust

•   Legg Mason Charles Street Trust, Inc.

Western Asset Institutional Municipal Money Market Fund, a series of:

Western Asset Institutional AMT Tax Free Municipal Money Market Fund, a series of:

•   Legg Mason Partners Institutional Trust

•   Legg Mason Partners Institutional Trust

Legg Mason Partners Institutional Trust, a series fund consisting of:

Legg Mason Partners Institutional Trust, a series fund consisting of:

•   Western Asset/Citi Institutional Liquid Reserves

•   Western Asset Institutional Liquid Reserves

•   Western Asset/Citi Institutional U.S. Treasury Reserves

•   Western Asset Institutional U.S. Treasury Reserves

•   Western Asset/Citi Institutional Cash Reserves

•   Western Asset Institutional Cash Reserves

•   Western Asset/Citi Institutional Tax Free Reserves

•   Western Asset Institutional Tax Free Reserves

Legg Mason Partners Money Market Trust, a series fund consisting of:

Legg Mason Partners Money Market Trust, a series fund consisting of:

•   Western Asset/Citi California Tax Free Reserves

•   Western Asset California Tax Free Money Market Fund

•   Western Asset/Citi Cash Reserves

•   Western Asset Liquid Reserves

•   Western Asset/Citi Tax Free Reserves

•   Western Asset Tax Free Reserves

•   Western Asset/Citi New York Tax Free Reserves

•   Western Asset New York Tax Free Money Market Fund

•   Western Asset/Citi U.S. Treasury Reserves

•   Western Asset U.S. Treasury Reserves

•   Western Asset/Citi Connecticut Tax Free Reserves

•   Western Asset Connecticut Municipal Money Market Fund

Legg Mason Partners Premium Money Market Trust, a series fund consisting of:

Legg Mason Partners Premium Money Market Trust, a series fund consisting of:

•   Western Asset/Citi Premium Liquid Reserves

•   Western Asset Premium Liquid Reserves

•   Western Asset/Citi Premium U.S. Treasury Reserves

•   Western Asset Premium U.S. Treasury Reserves

Legg Mason Barrett Financial Services Fund, a series of:

Legg Mason Investment Counsel Financial Services Fund, a series of:

•   Legg Mason Partners Equity Trust

•   Legg Mason Partners Equity Trust

Legg Mason Growth Trust

March 30, 2010

Barrett Growth Fund

RESOLVED:

That the appropriate officers of the Fund be, and each hereby is, authorized and directed to take and/or ratify all necessary action for the Fund to become a member of ICI Mutual Insurance Company (“ICI Mutual”) and, in conjunction with other investment companies for which affiliates of Legg Mason Partners Fund Advisor, LLC (“LMPFA”) serve as investment adviser and/or administrator, to purchase from ICI Mutual fidelity bond coverage (“Joint Fidelity Bond”) and a Directors and Officers/Errors and Omissions (“D&O/E&O”) liability insurance policy to which the investment adviser, sub-adviser, principal underwriter, administrator, directors and/or officers of such investment companies may also be parties; and further

RESOLVED:

That it is the finding of the Board that the Joint Fidelity Bond covering, among others, officers and employees of the Fund in accordance with the requirements of Rule 17g-1 under the 1940 Act is reasonable in form and amount, after having given due consideration to, among other things, the value of the aggregate assets of the Fund to which any person covered under the Joint Fidelity Bond may have access, the type and terms of the arrangements made for the custody and safekeeping of the Fund’s assets and the nature of the securities in the Fund’s portfolio; and further

RESOLVED:

That the portion of the total premium for the Joint Fidelity Bond to be allocated to the Fund based on its net assets (following the public offering of its Common Stock) be, and hereby is, approved by a vote of a majority of the Board of Directors of the Fund (all Directors voting) and separately by a majority of the “non-interested” Directors, after having given due consideration to, among other things, the number of the other parties named as insureds, the nature of the business activities of such other parties, the amount of the Joint Fidelity Bond, the amount of the premiums for the Fidelity Bond, the ratable allocation of the premiums among all parties named as insureds, and the extent to which the share of the premium allocated to the Fund is less than the premium the Fund would have had to pay if it had provided and maintained a fidelity bond which covers only the Fund as the insured; and further

RESOLVED:

That the Joint Fidelity Bond be, and hereby is, approved by a vote of the Board of Directors (all Directors voting) and separately by the “non-interested” Directors; and further

RESOLVED:

That the appropriate officers of the Fund be, and each of them hereby is, authorized and directed to enter into an agreement, in substantially the form used for the Closed-end Funds, as required by paragraph (f) of Rule 17g-1 under the 1940 Act with the other named insureds under the Joint Fidelity Bond providing that in the event any recovery is received under the Bond as a result of a loss sustained by the Fund and also by one or more of the other named insureds, the Fund shall receive an equitable and proportionate share of the recovery, but in no event less than the amount it would have received had it obtained and maintained a single insured bond with the minimum coverage required by paragraph (d) (1) of such Rule 17g-1; and further

RESOLVED:

That the appropriate officers of the Fund be, and each of them hereby is, authorized and directed to prepare, execute and file such amendments and supplements to the aforesaid agreement, and to take such other action as may be necessary or appropriate in order to conform to the provisions of the 1940 Act and the rules and regulations thereunder; and further

RESOLVED:

That the Secretary of the Fund shall file the Joint Fidelity Bond with the Securities and Exchange Commission and give the notices required under paragraph (g) of Rule 17g-1 under the 1940 Act; and further

RESOLVED:

That the Fund’s purchase of the D&O/E&O policy to which the Directors, officers and employees of the Fund are parties, and which provides coverage to those parties against liabilities and expenses (with certain exceptions) arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities for the Fund is determined to be in the best interest of the Fund; and further

RESOLVED:

That pursuant to Rule 17d-1(d)(7) under the 1940 Act, the Board of Directors (all Directors voting) finds, and, separately, all of the “non-interested” Directors find, that the Fund’s participation in the D&O/E&O policy is in the best interest of the Fund, and that the portion of the total premium for the D&O/E&O policy to be allocated to the Fund based on its net assets is fair and reasonable when compared to the premiums that would have been paid if the insurance coverage of the policy had been purchased separately by the insured parties; and further

RESOLVED:

That the Directors and the appropriate officers of the Fund, or any of them, are authorized to make any and all payments and to do any and all other acts, in the name of the Fund and on its behalf, as they, or any of them, may determine to be necessary or desirable and proper in connection with or in furtherance of the foregoing resolutions.

RESOLVED:

That it is the finding of the Board that the fidelity bond written by ICI Mutual Insurance Company (the “Bond”) in the aggregate amount of $100 million plus such additional minimum amount relating to Tax Free Reserves as is required by the 1940 Act, upon effectiveness of the Post-Effective Amendment to the Trust’s Registration Statement on Form N-1A with respect to Tax Free Reserves, covering, among others, officers and employees of the Trust, in accordance with the requirements of Rule 17g-1 promulgated by the Securities and Exchange Commission under Section 17(g) of the 1940 Act, is reasonable in form and amount, after having given due consideration to, among other things, the value of the aggregate assets of Tax Free Reserves to which any person covered under the Bond may have access, the type and terms of the arrangements made for the custody and safekeeping of Tax Free Reserves’ assets, the nature of the securities in Tax Free Reserves’ portfolio, the number of other parties named as insured parties under the Bond and the nature of the business activities of the other parties; and be it further

RESOLVED:

That the premium to be paid by Tax Free Reserves under the Bond be and hereby is approved by the Board, after having given due consideration to, among other things, the number of other parties insured under the Bond, the nature of business activities of those other parties, the amount of the Bond, the amount of the premium for such bond, the ratable allocation of the premium among all parties named as insureds and the extent to which the share of the premium allocated to the Fund under the Bond is less than the premium that Tax Free Reserves would have had to pay had it maintained a single insured bond; and be it further

RESOLVED:

That the Bond be and hereby is approved by the Board; and be it further

RESOLVED:

That the officers of Tax Free Reserves be, and each hereby is, authorized and directed to enter into an agreement, as required by paragraph (f) of Rule 17g-1 under the 1940 Act, with the other named insureds under the Bond providing that in the event any recovery is received under the Bond as a result of a loss sustained by Tax Free Reserves and also by one or more of the other named insureds, Tax Free Reserves shall receive an equitable and proportionate share of the recovery, but in no event less than the amount it would have received had they provided and maintained a single insured bond with the minimum coverage required by paragraph (d)(1) of Rule 17g-1; and be it further

RESOLVED:

That the officers of the Trust be, and they hereby are, authorized and directed to prepare, execute, and file such amendments and supplements to the aforesaid agreement, and to take such other action as may be necessary or appropriate in order to conform to the provisions of the 1940 Act, and the rules and regulations thereunder; and be it further

RESOLVED:

That the Secretary of the Trust shall file or cause to be filed the Bond with the Commission and give notices required under paragraph (g) of Rule 17g-1; and be it further

RESOLVED:

That pursuant to Rule 17d-1(d)(7) under the 1040 Act, the Board hereby finds that Tax Free Reserves’ participation in the joint liability insurance policies is in the best interest of the Fund; and be it further

RESOLVED:

That Tax Free Reserves be included as an insured party under a Trustees and Officers/Errors and Omissions Liability Insurance Policy (the “Policy”) issued by ICI Mutual Insurance Company to certain investment companies in the Legg Mason Partners Funds complex, Legg Mason Funds complex, Western Asset Funds complex, Western Asset Claymore Funds complex and Barrett Opportunity Fund, Inc., to which the investment adviser, affiliated principal underwriters, Trustees and officers of such investment companies are parties, and which provides coverage to such parties against liabilities and expenses (with certain exceptions) arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities for the investment companies; and be it further

RESOLVED:

That Tax Free Reserves, on behalf of its current and future Trustees who are not “interested persons” of the Fund as defined in the 1940 Act or who are otherwise covered by a joint Independent Directors Liability Insurance Policy underwritten by each of the commercial carriers (collectively referred to as the “IDL Policies”) has agreed to participate in the IDL Policies, which provide coverage to such parties against liabilities and expenses (with certain exceptions) arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities for the investment companies; and be it further

RESOLVED:

That the portion of the aggregate premium for the Policy and the IDL Policies to be allocated to Tax Free Reserves is fair and reasonable to Tax Free Reserves in a manner consistent with Rule 17d-1(d)(7); and be it further

RESOLVED:

That the officers of the Trust are authorized to make any and all payments and to do any and all other acts, in the name of Tax Free Reserves and on its behalf, as they, or any of them, may determine to be necessary or desirable and proper in connection with or in furtherance of the foregoing resolutions.

RESOLVED:

That the Fund and its Board Members be included as insured parties under a Directors and Officers/Errors and Omissions Liability Insurance Policy (the “Policy”) issued by ICI Mutual Insurance Company to certain investment companies in the Legg Mason Partners Funds complex, Legg Mason Funds complex, Western Asset Funds complex, Western Asset Claymore Funds complex and to Barrett Opportunity Fund Inc. to which the investment advisers, administrators, affiliated principal underwriter, Board Members and officers of such investment companies are parties, and which provides coverage to such parties against liabilities and expenses (with certain exceptions) arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities for the investment companies; and further

RESOLVED:

That the portion of the aggregate premium for the Policy of $6,033,708 to be allocated to the Fund for the period February 24, 2010 through June 30, 2010, is fair and reasonable to the Fund; and further

RESOLVED:

That the Fund, on behalf of its current and future Board Members who are not “interested persons” of the Fund as defined in the 1940 Act, or who will otherwise be covered by joint Independent Directors Liability Insurance Policies (“IDL Policies”), (such as a non-management director who is classified as an interested director), has agreed to participate in the IDL Policies, which provide coverage to such parties against liabilities and expenses (with certain exceptions) arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities for the investment companies; and further

RESOLVED:

That the portion of the aggregate premium for the IDL Policies of $547,500 to be allocated to the Fund for the period February 24, 2010 through June 30, 2010, is fair and reasonable to the Fund; and further

RESOLVED:

That pursuant to Rule 17d-1(d)(7) under the Investment Company Act of 1940, as amended (the “1940 Act”), the Board hereby finds that the Fund’s participation in the Policy and the IDL Policies described to this meeting is in the best interest of the Fund; and further

RESOLVED:

That the purchase of the fidelity bond coverage with ICI Mutual Insurance Company for the period February 24, 2010 through June 30, 2010, which coverage is maintained jointly on behalf of the Fund and the other parties named as insureds therein, including investment companies in the Legg Mason Partners Funds complex, Legg Mason Funds complex, Western Asset Funds complex, Western Asset Claymore Funds complex and to Barrett Opportunity Fund Inc. and Barrett Growth Fund Inc., and which provides coverage in the aggregate amount of $75 million is approved; and further

RESOLVED:

That it is the finding of the Board that the fidelity bond coverage with ICI Mutual Insurance Company for the July 1, 2009 through June 30, 2010 policy period in the aggregate amount of $75 million covering among others, officers and employees of the Fund in accordance with the requirements of Rule 17g-1 under the 1940 Act, is reasonable in form and amount, after having given due consideration to, among other things, the value of the aggregate assets of the Fund to which any person covered under the fidelity bond may have access, the type and terms of the arrangements made for the custody and safekeeping of assets of the Fund and the nature of the securities in the Fund’s portfolio; and further

RESOLVED:

That the payment by the Fund of its portion of the total premium of $407,235 for the period February 24, 2010 through June 30, 2010 for the aforementioned joint insured fidelity bond is fair and reasonable and therefore approved, taking into consideration, among other things, the number of parties named as insureds; the nature of the business activities of such parties, the amount of the joint insured fidelity bond; the amount of the premium to be allocated among all parties as insureds; the ratable allocation of the premium among all parties named as insureds; and the extent to which the share of the premium allocated to the Fund is less than the premium the Fund would have had to pay if it had provided and maintained a single insured bond; and further

RESOLVED:

That the Agreement Concerning Allocation of Fidelity Bond Premiums and Recoveries (“Agreement”) entered into among the Fund and the other named insureds under the foregoing fidelity bond coverage is approved and that each officer of the Trust, acting singly, is authorized to execute and deliver such Agreement, the execution and delivery of said Agreement to be conclusive evidence of the Trustees’ approval; and further

RESOLVED:

That the officers of the Trust are authorized to make any and all payments, in the name and on behalf of the Trust and the Fund, as they, or any of them, may determine to be necessary or desirable and proper in connection with or in furtherance of the foregoing resolutions; and further

RESOLVED:

That the Assistant Secretary and the other officers of the Trust are directed to file the fidelity bond and the Agreement with the Securities and Exchange Commission and to make the other filings and give the notices as required by Paragraph (g) of Rule 17g-1 of the 1940 Act.

RESOLVED:

That the officers of the Fund be, and each hereby is, authorized and directed to take and/or ratify all necessary action for the Fund to become a member of ICI Mutual Insurance Company (“ICI Mutual”) and, in conjunction with other investment companies for which affiliates of LMPFA serve as investment adviser and/or administrator, to purchase from ICI Mutual fidelity bond coverage (“Joint Fidelity Bond”) and a Directors and Officers/Errors and Omissions (“D&O/E&O”) liability insurance policy to which the investment adviser, Subadviser, principal underwriter, administrator, directors and/or officers of such investment companies may also be parties; and further

RESOLVED:

That it is the finding of the Board that the Joint Fidelity Bond covering, among others, officers and employees of the Fund in accordance with the requirements of Rule 17g-1 under the 1940 Act is reasonable in form and amount, after having given due consideration to, among other things, the value of the aggregate assets of the Fund to which any person covered under the Joint Fidelity Bond may have access, the type and terms of the arrangements made for the custody and safekeeping of the Fund’s assets and the nature of the securities in the Fund’s portfolio; and further

RESOLVED:

That the portion of the total premium for the Joint Fidelity Bond to be allocated to the Fund based on its net assets (following the public offering of its Common Stock) be, and hereby is, approved by a vote of a majority of the Board of Directors of the Fund (all Directors voting) and separately by a majority of the Independent Directors, after having given due consideration to, among other things, the number of the other parties named as insureds, the nature of the business activities of such other parties, the amount of the Joint Fidelity Bond, the amount of the premiums for the Fidelity Bond, the ratable allocation of the premiums among all parties named as insureds, and the extent to which the share of the premium allocated to the Fund is less than the premium the Fund would have had to pay if it had provided and maintained a fidelity bond which covers only the Fund as the insured; and further

RESOLVED:

That the Joint Fidelity Bond be, and hereby is, approved by a vote of the Board of Directors (all Directors voting) and separately by the Independent Directors; and further

RESOLVED:

That the officers of the Fund be, and each of them hereby is, authorized and directed to enter into an agreement, in substantially the form used for the Closed-end Funds, as required by paragraph (f) of Rule 17g-1 under the 1940 Act with the other named insureds under the Joint Fidelity Bond providing that in the event any recovery is received under the Bond as a result of a loss sustained by the Fund and also by one or more of the other named insureds, the Fund shall receive an equitable and proportionate share of the recovery, but in no event less than the amount it would have received had it obtained and maintained a single insured bond with the minimum coverage required by paragraph (d)(1) of such Rule 17g-1; and further

RESOLVED:

That the officers of the Fund be, and each of them hereby is, authorized and directed to prepare, execute and file such amendments and supplements to the aforesaid agreement, and to take such other action as may be necessary or appropriate in order to conform to the provisions of the 1940 Act and the rules and regulations thereunder; and further

RESOLVED:

That the Secretary of the Fund shall file the Joint Fidelity Bond with the Securities and Exchange Commission and give the notices required under paragraph (g) of Rule 17g-1 under the 1940 Act; and further

RESOLVED:

That the Fund’s purchase of the D&O/E&O policy to which the Directors, officers and employees of the Fund are parties, and which provides coverage to those parties against liabilities and expenses (with certain exceptions) arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities for the Fund is determined to be in the best interest of the Fund; and further

RESOLVED:

That the Fund’s purchase of the Independent Directors Liability Insurance Policy (the “IDL Policy”) to which the Directors of the Fund are parties, and which provides coverage to the Directors against liabilities and expenses (with certain exceptions) arising out of claims, actions or proceedings asserted or threatened against them in their respective capacities for the Fund is determined to be in the best interest of the Fund; and further

RESOLVED:

That pursuant to Rule 17d-1(d)(7) under the 1940 Act, the Board of Directors (all Directors voting) finds, and, separately, all of the Independent Directors find, that the Fund’s participation in the D&O/E&O policy is in the best interest of the Fund, and that the portion of the total premium for the D&O/E&O policy to be allocated to the Fund based on its net assets is fair and reasonable when compared to the premiums that would have been paid if the insurance coverage of the policy had been purchased separately by the insured parties; and further

RESOLVED:

That the Directors and the officers of the Fund, or any of them, are authorized to make any and all payments and to do any and all other acts, in the name of the Fund and on its behalf, as they, or any of them, may determine to be necessary or desirable and proper in connection with or in furtherance of the foregoing resolutions.

In the event any recovery under the Joint Fidelity Bond is received as a result of a loss sustained by any of the Funds, then each Fund sustaining such loss shall receive an equitable and proportionate share of the recovery, said proportion to be established by the ratio that the claim bears to the total amount claimed by all participants, but at least equal to the amount which each such Fund would have received had it provided and maintained a single insured bond with the minimum coverage required by Rule 17g-1(d)(1) under the 1940 Act (“Separate Bond”).

In the event that the claims of loss of the Funds are so related that the Insurer is entitled to assert that the claims must be aggregated with the results that the total amount payable on such claims is limited to the face amount of the Joint Fidelity Bond, the following rules for determining the priorities among the Funds for satisfaction of the claims under the Joint Fidelity Bond shall apply:

Each party to this Agreement is hereby expressly put on notice of the limitation of shareholder liability as set forth in the Declaration of Trust of Legg Mason Tax-Free Income Fund and agrees that obligations assumed by this Trust pursuant to this Agreement shall be limited in all cases to the Trust and its assets. Each party to this Agreement agrees that it shall not seek satisfaction of any such obligation from the shareholders or any individual shareholder of the Legg Mason Tax-Free Income Fund nor from any individual Trustee of that Trust.

Additional Parties to this Agreement: This Agreement is intended to cover all entities insured under the Joint Fidelity Bond. Any insured under the Joint Fidelity Bond that is not currently listed on Schedules I and II hereto may be added to this Agreement by a written amendment.

This Agreement may be executed in multiple counterparts.

/s/ Thomas C. Mandia

Thomas C. Mandia

Assistant Secretary, each of the Funds listed on Schedule I

/s/ R. Jay Gerken

R. Jay Gerken

President, each of the Funds listed on Schedule II