The American Century California Intermediate-Term Tax-Free Bond Fund - I Class (BCTIX) is a mutual fund that primarily invests in a diversified portfolio of intermediate-term municipal bonds issued by the state of California. This fund aims to provide investors with tax-free income and potential capital appreciation while maintaining a moderate level of risk. The "I Class" designation indicates that this fund is designed for institutional investors and may have lower fees compared to other share classes. Overall, BCTIX offers a tax-efficient way to invest in California municipal bonds for those seeking a balance of income and potential growth.