WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE> 6
          
<CIK>     0000764860
          
<NAME> FLAGSHIP KENTUCKY LIMITED TERM MUNICIPAL BOND FUND
                             
<SERIES>                     
                             
<NUMBER>                     551
                             
<NAME>                       CLASS A
                             
<MULTIPLIER>                 1
                             
                             
                             
<S>                          <C>
<PERIOD-TYPE>                 6 MOS
                              
<FISCAL-YEAR-END>             MAY-31-1997
                              
<PERIOD-START>                JUNE-1-1996
                              
<PERIOD-END>                  NOVEMBER-30-1996
                              
<INVESTMENTS-AT-COST>         9,017,157
                              
<INVESTMENTS-AT-VALUE>        9,161,526
                              
<RECEIVABLES>                 319,965
                              
<ASSETS-OTHER>                22
                              
<OTHER-ITEMS-ASSETS>          0
                              
<TOTAL-ASSETS>                9,481,513
                              
<PAYABLE-FOR-SECURITIES>      202,417
                              
<SENIOR-LONG-TERM-DEBT>       0
                              
<OTHER-ITEMS-LIABILITIES>     1,048,118
                              
<TOTAL-LIABILITIES>           1,250,535
                              
<SENIOR-EQUITY>               0
                              
<PAID-IN-CAPITAL-COMMON>      8,191,148
                              
<SHARES-COMMON-STOCK>         651,943
                              
<SHARES-COMMON-PRIOR>         856,612
                              
<ACCUMULATED-NII-CURRENT>     0
                              
<OVERDISTRIBUTION-NII>        (6,922)
                              
<ACCUMULATED-NET-GAINS>       (97,617)
                              
<OVERDISTRIBUTION-GAINS>      0
                              
<ACCUM-APPREC-OR-DEPREC>      144,369
                              
<NET-ASSETS>                  8,230,978
                              
<DIVIDEND-INCOME>             0
                              
<INTEREST-INCOME>             236,568
                              
<OTHER-INCOME>                0
                              
<EXPENSES-NET>                (34,337)
                              
<NET-INVESTMENT-INCOME>       202,231
                              
<REALIZED-GAINS-CURRENT>      (64,925)
                              
<APPREC-INCREASE-CURRENT>     233,110
                              
<NET-CHANGE-FROM-OPS>         370,416
                              
<EQUALIZATION>                0
                              
<DISTRIBUTIONS-OF-INCOME>     (174,560)
                              
<DISTRIBUTIONS-OF-GAINS>      0
                              
<DISTRIBUTIONS-OTHER>         0
                              
<NUMBER-OF-SHARES-SOLD>       119,864
                              
<NUMBER-OF-SHARES-REDEEMED>   (339,672)
                              
<SHARES-REINVESTED>           15,139
                              
<NET-CHANGE-IN-ASSETS>        (1,886,260)
                              
<ACCUMULATED-NII-PRIOR>       0
                              
<ACCUMULATED-GAINS-PRIOR>     0
                              
<OVERDISTRIB-NII-PRIOR>       0
                              
<OVERDIST-NET-GAINS-PRIOR>    0
                              
<GROSS-ADVISORY-FEES>         14,077
                              
<INTEREST-EXPENSE>            0
                              
<GROSS-EXPENSE>               87,257
                              
<AVERAGE-NET-ASSETS>          9,359,256
                              
<PER-SHARE-NAV-BEGIN>         9.79
                              
<PER-SHARE-NII>               0.22
                              
<PER-SHARE-GAIN-APPREC>       0.18
                              
<PER-SHARE-DIVIDEND>          (0.22)
                              
<PER-SHARE-DISTRIBUTIONS>     0.00
                              
<RETURNS-OF-CAPITAL>          0.00
                              
<PER-SHARE-NAV-END>           9.97
                              
<EXPENSE-RATIO>               0.68
                              
<AVG-DEBT-OUTSTANDING>        0
                              
<AVG-DEBT-PER-SHARE>          0.00
                              
        









</TABLE>