Aquila Investment Management LLC 120 West 45th Street, suite 3600 New York, NY 10036 June 6, 2013 VIA EDGAR Securities and Exchange Commission Division of Investment Management 100 F Street, NE Washington, D.C. 20549 RE:	The Cascades Trust 	Annual Report on Form N-CSR 	(33 Act No. 33-4382; 40 Act No. 811-4626) Ladies and Gentlemen: On behalf of The Cascades Trust, a Massachusetts business trust (the 'Trust'), we are hereby filing on behalf of the Trust's sole portfolio, Aquila Tax-Free Trust of Oregon, the March 31, 2014 Annual Report on Form N-CSR under Section 30 of the Investment Company Act of 1940 and Sections 13 and 15(d) of the Securities Exchange Act of 1934. 	Please call the undersigned at (917) 209-5080 with any comments or questions relating to the filing. Sincerely, /s/ Randall S. Fillmore ----------------------- Randall S. Fillmore Chief Compliance Officer