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UNITED STATES |
OMB APPROVAL |
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OMB
Number: 3235-0578 |
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FORM N-Q |
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QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number |
811-5785 |
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Colonial Investment Grade Municipal Trust |
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(Exact name of registrant as specified in charter) |
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One Financial Center, Boston, Massachusetts |
02111 |
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(Address of principal executive offices) |
(Zip code) |
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Vincent Pietropaolo, Esq. |
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(Name and address of agent for service) |
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Registrants telephone number, including area code: |
1-617-772-3698 |
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Date of fiscal year end: |
11/30/05 |
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Date of reporting period: |
02/28/05 |
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Item 1. Schedule of Investments.
INVESTMENT PORTFOLIO
February 28, 2005 (Unaudited) |
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Colonial Investment Grade Municipal Trust |
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Par ($) |
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Value ($)* |
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Municipal Bonds 140.5% |
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EDUCATION 11.0% |
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Education 8.2% |
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AL University South Alabama |
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Series 1999, |
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Insured: AMBAC |
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(a) 11/15/18 |
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2,500,000 |
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1,359,825 |
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FL Broward County Educational Facilities |
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Nova Southeastern University, |
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Series 2004 B, |
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5.500% 04/01/24 |
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155,000 |
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162,214 |
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IL Chicago State University Auxiliary |
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Series 1998, |
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Insured: MBIA |
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5.500% 12/01/23 |
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1,085,000 |
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1,259,045 |
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MA Development Finance Agency |
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Western New England College, |
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Series 2002, |
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6.125% 12/01/32 |
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315,000 |
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331,638 |
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MN University of Minnesota |
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Series 1996 A, |
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5.750% 07/01/14 |
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500,000 |
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577,315 |
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Series 1999 A, |
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5.500% 07/01/21 |
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2,000,000 |
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2,323,160 |
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NY St. Lawrence County Industrial |
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St. Lawrence University, |
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Series 1998 A, |
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Insured: MBIA |
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5.500% 07/01/13 |
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1,465,000 |
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1,609,551 |
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PA Higher Education Facilities Authority |
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Philadelphia University, |
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Series 2004 A, |
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5.125% 06/01/25 |
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500,000 |
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492,220 |
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TX Texas Tech University |
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Series 1999, |
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Insured: AMBAC |
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5.000% 02/15/29 |
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2,500,000 |
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2,556,325 |
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Education Total |
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10,671,293 |
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Prep School 1.6% |
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MA Industrial Finance Agency |
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Tabor Academy, |
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Series 1998, |
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5.400% 12/01/28 |
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1,000,000 |
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1,032,230 |
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MO Health & Educational
Facilities |
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Central Institute for the Deaf, |
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Series 1999, |
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Insured: RAD |
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1
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Par ($) |
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Value ($) |
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Municipal Bonds (continued) |
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EDUCATION (continued) |
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Prep School (continued) |
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5.850% 01/01/22 |
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600,000 |
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654,174 |
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NH Business Finance Authority |
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Proctor Academy, |
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Series 1998 A, |
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5.400% 06/01/17 |
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390,000 |
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405,218 |
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Prep School Total |
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2,091,622 |
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Student Loan 1.2% |
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NE Nebhelp, Inc. |
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Series 1993 A-6, AMT, |
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Insured: MBIA |
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6.450% 06/01/18 |
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1,500,000 |
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1,573,845 |
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Student Loan Total |
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1,573,845 |
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EDUCATION TOTAL |
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14,336,760 |
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HEALTH CARE 24.5% |
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Continuing Care Retirement 5.1% |
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CA La Verne Cerificate of Participation |
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Brethren Hillcrest Home, |
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Series 2003 B, |
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6.625% 02/15/25 |
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350,000 |
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382,063 |
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CT Development Authority |
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Elim Park Baptist, Inc., |
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Series 2003, |
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5.750% 12/01/23 |
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250,000 |
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261,720 |
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FL Capital Projects Finance Authority |
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Glenridge on Palmer Ranch, |
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Series 2002 A, |
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8.000% 06/01/32 |
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500,000 |
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530,880 |
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GA Fulton County |
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Canterbury Court Project, |
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Series 2004 A, |
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6.125% 02/15/34 |
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250,000 |
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250,938 |
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HI Department of Budget & Finance |
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Kahala Nui Project, |
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Series 2003 A: |
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7.875% 11/15/23 |
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250,000 |
|
277,250 |
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8.000% 11/15/33 |
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250,000 |
|
276,647 |
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IL Health Facilities Authority |
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Lutheran Senior Ministries, |
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Series 2001, |
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7.375% 08/15/31 |
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250,000 |
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265,390 |
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Washington & Jane Smith Community, |
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Series 2003 A, |
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7.000% 11/15/32 |
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250,000 |
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256,243 |
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2
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Par ($) |
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Value ($)* |
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Municipal Bonds (continued) |
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HEALTH CARE (continued) |
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Continuing Care Retirement (continued) |
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MD Westminster Economic Development Authority |
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Carroll Lutheran Village, Inc., |
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Series 2004 A, |
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5.875% 05/01/21 |
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500,000 |
|
514,965 |
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MO Cole County Industrial Development Authority |
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Heisinger Projects, |
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Series 2004, |
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5.500% 02/01/35 |
|
500,000 |
|
519,075 |
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NJ Economic Development Authority |
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Winchester Gardens, |
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Series 2004 A: |
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5.750% 11/01/24 |
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350,000 |
|
364,514 |
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5.800% 11/01/31 |
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250,000 |
|
258,123 |
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PA Chartiers Valley
Industrial & |
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Friendship Village/South, |
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Series 2003 A, |
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5.250% 08/15/13 |
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500,000 |
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508,890 |
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PA Delaware County Authority |
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Dunwoody Village, |
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Series 2003 A, |
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5.375% 04/01/17 |
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250,000 |
|
266,432 |
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PA Montgomery County Industrial |
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Whitemarsh Care Project, |
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Series 2005, |
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6.250% 02/01/35 |
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300,000 |
|
303,207 |
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TN Johnson City Health &
Educational |
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Appalachian Christian Village Project, |
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Series 2004 A, |
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6.250% 02/15/32 |
|
250,000 |
|
252,145 |
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TN Shelby County Health, Educational & Housing Facilities Board |
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Germantown Village, |
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Series 2003 A, |
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7.250% 12/01/34 |
|
150,000 |
|
156,815 |
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TX Abilene Health Facilities Development |
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Sears Methodist Retirement Obligated Group, |
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Series 2003 A, |
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7.000% 11/15/33 |
|
500,000 |
|
526,030 |
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|
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WI Health & Educational
Facilities |
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|
|
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Eastcastle Place, Inc., Project, |
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Series 2004, |
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|
|
|
|
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6.125% 12/01/34 |
|
150,000 |
|
149,505 |
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Three Pillars Senior Communities, |
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|
|
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|
Series 2003, |
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3
|
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|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
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|
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|
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|
|
|
|
|
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|
HEALTH CARE (continued) |
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|
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|
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|
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|
Continuing Care Retirement (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.600% 08/15/23 |
|
300,000 |
|
306,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing Care Retirement Total |
|
6,627,516 |
|
Health Services 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CO Health Facilities Authority |
|
|
|
|
|
|
|
|
|
National Jewish Medical & Research Center, |
|
|
|
|
|
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|
Series 1998 B, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.375% 01/01/29 |
|
250,000 |
|
243,108 |
|
|
|
|
|
|
|
|
|
MA Health & Educational
Facilities |
|
|
|
|
|
|
|
|
|
Civic Investments, Inc., |
|
|
|
|
|
|
|
Series 2002 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.000% 12/15/15 |
|
250,000 |
|
286,595 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Services Total |
|
529,703 |
|
|
|
|
|
|
|
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Hospitals 15.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CA Health Facilities Financing Authority |
|
|
|
|
|
|
|
|
|
Catholic Healthcare West |
|
|
|
|
|
|
|
Series 2004 I, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.950% 07/01/26 |
|
200,000 |
|
209,904 |
|
CA Rancho Mirage Joint Powers Financing |
|
|
|
|
|
|
|
|
|
Eisenhower Medical Center, |
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.625% 07/01/29 |
|
1,000,000 |
|
1,051,070 |
|
|
|
|
|
|
|
|
|
CA Statewide Communities Development Authority |
|
|
|
|
|
|
|
|
|
Kaiser Permanente, |
|
|
|
|
|
|
|
Series 2004 I, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.450% 04/01/35 |
|
250,000 |
|
245,338 |
|
|
|
|
|
|
|
|
|
CA Turlock Health Facilities Financing |
|
|
|
|
|
|
|
|
|
Certificates of Participation, Emanuel Medical Center, Inc., |
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.375% 10/15/34 |
|
500,000 |
|
512,280 |
|
|
|
|
|
|
|
|
|
CO Health Facilities Authority |
|
|
|
|
|
|
|
|
|
Parkview Medical Center, |
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 09/01/25 |
|
250,000 |
|
251,825 |
|
|
|
Vail Valley Medical Center Project, |
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
5.000% 01/15/20 |
|
250,000 |
|
255,465 |
|
|
|
|
|
|
|
|
|
DE Health Facilities Authority |
|
|
|
|
|
|
|
|
|
Beebe Medical Center, |
|
|
|
|
|
|
|
Series 2004 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 06/01/16 |
|
500,000 |
|
517,425 |
|
|
|
|
|
|
|
|
|
FL Orange County Health Facilities |
|
|
|
|
|
|
|
|
|
Orlando Regional Healthcare System: |
|
|
|
|
|
|
|
Series 1996 C, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
4
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HEALTH CARE (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hospitals (continued) |
|
|
|
|
|
|
|
|
|
6.250% 10/01/13 |
|
720,000 |
|
849,398 |
|
|
|
Series 1999, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.000% 10/01/26 |
|
175,000 |
|
184,982 |
|
|
|
Series 2002, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.750% 12/01/32 |
|
150,000 |
|
159,737 |
|
|
|
|
|
|
|
|
|
FL South Broward Hospital District |
|
|
|
|
|
|
|
|
|
Series 2002, |
|
|
|
|
|
|
|
5.625% 05/01/32 |
|
1,000,000 |
|
1,075,530 |
|
|
|
|
|
|
|
|
|
GA Coffee County Hospital Authority |
|
|
|
|
|
|
|
|
|
Coffee Regional Medical Center, Inc., |
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 12/01/26 |
|
350,000 |
|
351,242 |
|
|
|
|
|
|
|
|
|
IL Southwestern Development Authority |
|
|
|
|
|
|
|
|
|
Anderson Hospital, |
|
|
|
|
|
|
|
Series 1999, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.375% 08/15/15 |
|
380,000 |
|
396,781 |
|
|
|
|
|
|
|
|
|
IL State Development Finance Authority |
|
|
|
|
|
|
|
|
|
Adventist Health System, |
|
|
|
|
|
|
|
Series 1999, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 11/15/20 |
|
900,000 |
|
947,466 |
|
|
|
|
|
|
|
|
|
IN Health Facilities Financing Authority |
|
|
|
|
|
|
|
|
|
Community Foundation, Northwest Indiana, Inc., |
|
|
|
|
|
|
|
Series 2004 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.000% 03/01/34 |
|
150,000 |
|
154,124 |
|
|
|
|
|
|
|
|
|
KS University Hospital Authority |
|
|
|
|
|
|
|
|
|
Kansas University Health System, |
|
|
|
|
|
|
|
Series 2002, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.625% 09/01/32 |
|
500,000 |
|
517,560 |
|
|
|
|
|
|
|
|
|
LA Public Facilities Authority |
|
|
|
|
|
|
|
|
|
Touro Infirmary, |
|
|
|
|
|
|
|
Series 1999 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.625% 08/15/29 |
|
500,000 |
|
509,840 |
|
|
|
|
|
|
|
|
|
MA Health & Educational
Facilities |
|
|
|
|
|
|
|
|
|
Milford-Whitinsville Regional, |
|
|
|
|
|
|
|
Series 1998 C, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.750% 07/15/13 |
|
500,000 |
|
522,715 |
|
|
|
South Shore Hospital, |
|
|
|
|
|
|
|
Series 1999 F, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.750% 07/01/29 |
|
1,000,000 |
|
1,037,540 |
|
MD Health & Higher Educational Facilities Authority |
|
|
|
|
|
|
|
|
|
Adventist Healthcare, |
|
|
|
|
|
|
|
Series 2003 A: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.750% 01/01/25 |
|
250,000 |
|
263,065 |
|
|
|
|
|
|
|
|
|
|
|
5.000% 01/01/16 |
|
250,000 |
|
257,182 |
|
MD Health & Educational
Facilities |
|
|
|
|
|
|
|
|
|
Lifebridge Health, |
|
|
|
|
|
|
|
Series 2004 A, |
|
|
|
|
|
5
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HEALTH CARE (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hospitals (continued) |
|
|
|
|
|
|
|
|
|
5.125% 07/01/34 |
|
500,000 |
|
513,830 |
|
|
|
University of Maryland Medical System, |
|
|
|
|
|
|
|
Series 2000, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.750% 07/01/30 |
|
250,000 |
|
280,927 |
|
|
|
|
|
|
|
|
|
MI Hospital Finance Authority |
|
|
|
|
|
|
|
|
|
Oakwood Obligated Group, |
|
|
|
|
|
|
|
Series 2003, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 11/01/18 |
|
400,000 |
|
430,284 |
|
|
|
|
|
|
|
|
|
MN St. Paul Housing & Redevelopment Authority |
|
|
|
|
|
|
|
|
|
HealthEast, Inc., |
|
|
|
|
|
|
|
Series 1993 B, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.625% 11/01/17 |
|
230,000 |
|
231,709 |
|
|
|
|
|
|
|
|
|
|
|
Series 2001 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.700% 11/01/15 |
|
250,000 |
|
249,860 |
|
|
|
|
|
|
|
|
|
NH Higher Educational & Health Facilities Authority |
|
|
|
|
|
|
|
|
|
Catholic Medical Center, |
|
|
|
|
|
|
|
Series 2002, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.125% 07/01/32 |
|
500,000 |
|
520,600 |
|
|
|
|
|
|
|
|
|
NJ Health Care Facilities Financing |
|
|
|
|
|
|
|
|
|
Capital Health Systems, Inc., |
|
|
|
|
|
|
|
Series 2003 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.750% 07/01/23 |
|
350,000 |
|
374,720 |
|
|
|
|
|
|
|
|
|
NV Henderson Healthcare Facility |
|
|
|
|
|
|
|
|
|
Catholic Healthcare West: |
|
|
|
|
|
|
|
Series 1998, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.375% 07/01/26 |
|
250,000 |
|
253,978 |
|
|
|
Series 1999 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.750% 07/01/20 |
|
500,000 |
|
548,680 |
|
|
|
|
|
|
|
|
|
NY Dormitory Authority |
|
|
|
|
|
|
|
|
|
North Shore - Long Island Jewish Medical Center, |
|
|
|
|
|
|
|
Series 2003, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 05/01/33 |
|
100,000 |
|
105,580 |
|
|
|
|
|
|
|
|
|
OH Lakewood |
|
|
|
|
|
|
|
|
|
Lakewood Hospital Association, |
|
|
|
|
|
|
|
Series 2003, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 02/15/14 |
|
385,000 |
|
413,856 |
|
|
|
|
|
|
|
|
|
RI Health & Educational Building Corp. |
|
|
|
|
|
|
|
|
|
Lifespan Obligated Group, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.375% 08/15/21 |
|
500,000 |
|
554,190 |
|
SC Jobs Economic Development Authority |
|
|
|
|
|
|
|
|
|
Bon Secours Health Systems, Inc., |
|
|
|
|
|
6
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HEALTH CARE (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hospitals (continued) |
|
|
|
|
|
|
|
|
|
Series 2002 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 11/15/23 |
|
500,000 |
|
519,070 |
|
SC Lexington County Health Services |
|
|
|
|
|
|
|
|
|
Series 2003, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 11/01/23 |
|
500,000 |
|
527,175 |
|
|
|
|
|
|
|
|
|
SD Health & Educational
Facilities |
|
|
|
|
|
|
|
|
|
Sioux Valley Hospital & Health System, |
|
|
|
|
|
|
|
Series 2004 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.250% 11/01/34 |
|
250,000 |
|
256,505 |
|
|
|
|
|
|
|
|
|
TN Metropolitan Government, Nashville & Davidson Counties |
|
|
|
|
|
|
|
|
|
Meharry Medical College, |
|
|
|
|
|
|
|
Series 1996, |
|
|
|
|
|
|
|
Insured: AMBAC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.000% 12/01/16 |
|
1,575,000 |
|
1,853,476 |
|
|
|
|
|
|
|
|
|
TX Comal County Health Facilities |
|
|
|
|
|
|
|
|
|
McKenna Memorial, |
|
|
|
|
|
|
|
Series 2002 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.250% 02/01/32 |
|
500,000 |
|
519,215 |
|
|
|
|
|
|
|
|
|
VA Augusta County Industrial |
|
|
|
|
|
|
|
|
|
Augusta Health Care, Inc., |
|
|
|
|
|
|
|
Series 2003, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.250% 09/01/19 |
|
1,000,000 |
|
1,092,690 |
|
|
|
|
|
|
|
|
|
WI Health & Educational
Facilities |
|
|
|
|
|
|
|
|
|
Aurora Health Care, Inc., |
|
|
|
|
|
|
|
Series 2003, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.400% 04/15/33 |
|
175,000 |
|
192,689 |
|
|
|
Fort Healthcare, Inc., |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.375% 05/01/18 |
|
385,000 |
|
395,549 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Hospitals Total |
|
20,105,052 |
|
|
|
|
|
|
|
|
|
Intermediate Care Facilities 0.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IL Health Facilities Financing Authority |
|
|
|
|
|
|
|
|
|
Hoosier Care, Inc., |
|
|
|
|
|
|
|
Series 1999 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.125% 06/01/34 |
|
460,000 |
|
395,237 |
|
MA Development Finance Agency |
|
|
|
|
|
|
|
|
|
Evergreen Center, Inc., |
|
|
|
|
|
|
|
Series 2005, |
|
|
|
|
|
|
|
5.000% 01/01/24 |
|
250,000 |
|
240,537 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Intermediate Care Facilities Total |
|
635,774 |
|
Nursing Homes 3.0% |
|
|
|
|
|
|
|
AK Juneau |
|
|
|
|
|
|
|
|
|
St. Anns Care Center, |
|
|
|
|
|
|
|
Series 1999, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.875% 12/01/25 |
|
500,000 |
|
506,885 |
|
7
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HEALTH CARE - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nursing Homes - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CO Health Facilities Authority |
|
|
|
|
|
|
|
|
|
Pioneer Health Care, |
|
|
|
|
|
|
|
Series 1989, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.500% 05/01/19 |
|
1,540,000 |
|
1,247,400 |
|
|
|
|
|
|
|
|
|
DE Economic Development Authority |
|
|
|
|
|
|
|
|
|
Churchmans Village Project, |
|
|
|
|
|
|
|
Series 1991 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.000% 03/01/21 |
|
885,000 |
|
894,186 |
|
|
|
|
|
|
|
|
|
PA Chester County Industrial Development Authority |
|
|
|
|
|
|
|
|
|
RHA/Pennsylvania Nursing Home, |
|
|
|
|
|
|
|
Series 2002, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.500% 05/01/32 |
|
755,000 |
|
741,183 |
|
|
|
|
|
|
|
|
|
PA Delaware County Authority |
|
|
|
|
|
|
|
|
|
Main Line & Haverford Nursing, |
|
|
|
|
|
|
|
Series 1992, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.000% 08/01/22(b) |
|
565,000 |
|
497,200 |
|
|
|
|
|
|
|
|
|
WI Health & Educational Facilities Authority |
|
|
|
|
|
|
|
|
|
Metro Health Foundation, Inc., |
|
|
|
|
|
|
|
Series 1993, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11.000% 11/01/22(b) |
|
1,031,563 |
|
34,042 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nursing Homes Total |
|
3,920,896 |
|
|
|
|
|
|
|
|
|
|
|
|
|
HEALTH CARE TOTAL |
|
31,818,941 |
|
HOUSING 6.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assisted Living/Senior 1.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NC Medical Care Community Health Care Facilities |
|
|
|
|
|
|
|
|
|
DePaul Community Facilities, |
|
|
|
|
|
|
|
Series 1998, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.125% 01/01/28 |
|
500,000 |
|
456,070 |
|
|
|
|
|
|
|
|
|
NY Suffolk County Industrial Development Agency |
|
|
|
|
|
|
|
|
|
Gurwin Jewish Phase II, |
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.700% 05/01/39 |
|
500,000 |
|
515,770 |
|
|
|
|
|
|
|
|
|
TX Bell County Health Facilities Development Corp. |
|
|
|
|
|
|
|
|
|
Care Institute, Inc., |
|
|
|
|
|
|
|
Series 1994, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.000% 11/01/24 |
|
460,000 |
|
430,399 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Assisted Living/Senior Total |
|
1,402,239 |
|
Multi-Family 5.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AZ Maricopa County Industrial Development Authority |
|
|
|
|
|
|
|
|
|
National Volunteer, |
|
|
|
|
|
|
|
Series 1998 A, |
|
|
|
|
|
|
|
Insured: FSA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.100% 01/01/33 |
|
2,500,000 |
|
2,547,550 |
|
8
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HOUSING (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Multi-Family (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DC Housing Finance Agency |
|
|
|
|
|
|
|
|
|
Henson Ridge, |
|
|
|
|
|
|
|
Series 2004 E, AMT, |
|
|
|
|
|
|
|
Insured: FHA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.100% 06/01/37 |
|
500,000 |
|
492,640 |
|
FL Broward County Housing Finance Authority |
|
|
|
|
|
|
|
|
|
Chaves Lake Apartment Project, |
|
|
|
|
|
|
|
Series 2000, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.500% 07/01/40 |
|
500,000 |
|
500,895 |
|
FL Clay County Housing Finance Authority |
|
|
|
|
|
|
|
|
|
Madison Commons Apartments, |
|
|
|
|
|
|
|
Series 2000 A, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.450% 07/01/40 |
|
250,000 |
|
251,220 |
|
|
|
|
|
|
|
|
|
MN White Bear Lake |
|
|
|
|
|
|
|
|
|
Birch Lake Townhome Project: |
|
|
|
|
|
|
|
Series 1989 B, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 07/15/19 |
|
668,000 |
|
307,240 |
|
|
|
Series1989 A, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.250% 07/15/19 |
|
775,000 |
|
777,929 |
|
NC Medical Care Community |
|
|
|
|
|
|
|
|
|
ARC Projects, |
|
|
|
|
|
|
|
Series 2004 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.800% 10/01/34 |
|
305,000 |
|
307,574 |
|
|
|
|
|
|
|
|
|
NJ Middlesex County Improvement Authority |
|
|
|
|
|
|
|
|
|
Street Student Housing Project, |
|
|
|
|
|
|
|
Series 2004 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 08/15/18 |
|
300,000 |
|
311,451 |
|
|
|
|
|
|
|
|
|
Resolution Trust Corp. |
|
|
|
|
|
|
|
|
|
Pass-Through Certificates, |
|
|
|
|
|
|
|
Series 1993 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.500% 12/01/16 |
|
227,741 |
|
223,122 |
|
|
|
|
|
|
|
|
|
WA Tacoma Housing Authority |
|
|
|
|
|
|
|
|
|
Redwood |
|
|
|
|
|
|
|
Series 2005, AMT, |
|
|
|
|
|
|
|
Insured: GNMA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.050% 11/20/37(c) |
|
1,040,000 |
|
1,034,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Multi-Family Total |
|
6,754,421 |
|
|
|
|
|
|
|
|
|
Single Family 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CO Housing Finance Authority |
|
|
|
|
|
|
|
|
|
Series 2000 B-2, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.250% 10/01/31 |
|
110,000 |
|
112,163 |
|
IL Chicago |
|
|
|
|
|
|
|
|
|
Series 2000 A, AMT, |
|
|
|
|
|
|
|
Guarantor: FNMA |
|
|
|
|
|
9
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HOUSING (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Single Family (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.150% 09/01/31 |
|
55,000 |
|
55,969 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Single Family Total |
|
168,132 |
|
|
|
|
|
|
|
|
|
|
|
|
|
HOUSING TOTAL |
|
8,324,792 |
|
INDUSTRIALS 3.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Food Products 1.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MI Strategic Fund |
|
|
|
|
|
|
|
|
|
Michigan Sugar Co., |
|
|
|
|
|
|
|
Carrollton Project, |
|
|
|
|
|
|
|
Series 1998 C, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.550% 11/01/25 |
|
250,000 |
|
236,630 |
|
|
|
|
|
|
|
|
|
NE Washington County Waste Water Facilities Authority |
|
|
|
|
|
|
|
|
|
Cargill, Inc., |
|
|
|
|
|
|
|
Series 2002, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.900% 11/01/27 |
|
1,000,000 |
|
1,092,010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Food Products Total |
|
1,328,640 |
|
|
|
|
|
|
|
|
|
Forest Products & Paper 1.1% |
|
|
|
|
|
|
|
AL Camden Industrial Development Board |
|
|
|
|
|
|
|
|
|
Weyerhaeuser Co., |
|
|
|
|
|
|
|
Series 2003 B, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.375% 12/01/24 |
|
275,000 |
|
298,581 |
|
|
|
|
|
|
|
|
|
AR Camden Environmental Improvement Project |
|
|
|
|
|
|
|
|
|
International Paper Co., |
|
|
|
|
|
|
|
Series 2004 A, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 11/01/18 |
|
500,000 |
|
504,355 |
|
|
|
|
|
|
|
|
|
FL Escambia County Environmental Improvement Authority |
|
|
|
|
|
|
|
|
|
International Paper Co., |
|
|
|
|
|
|
|
Series 2003 A, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.750% 11/01/27 |
|
250,000 |
|
260,190 |
|
|
|
|
|
|
|
|
|
MS Lowndes County Solid Waste Disposal & Waste Control Revenue |
|
|
|
|
|
|
|
|
|
Weyerhaeuser Co., Project, |
|
|
|
|
|
|
|
Series 1992 B, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.700% 04/01/22 |
|
325,000 |
|
389,435 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Forest Products & Paper Total |
|
1,452,561 |
|
|
|
|
|
|
|
|
|
Manufacturing 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MO State Development Finance Board |
|
|
|
|
|
|
|
|
|
Procter & Gamble Co., |
|
|
|
|
|
|
|
Series 1999, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.200% 03/15/29 |
|
250,000 |
|
269,395 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Manufacturing Total |
|
269,395 |
|
|
|
|
|
|
|
|
|
Oil & Gas 0.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NJ Middlesex County Pollution Control Authority |
|
|
|
|
|
|
|
|
|
Amerada Hess Corp., |
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
10
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INDUSTRIALS (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.050% 09/15/34 |
|
175,000 |
|
185,358 |
|
|
|
|
|
|
|
|
|
NV Clark County Industrial Development Authority |
|
|
|
|
|
|
|
|
|
Southwest Gas Corp., |
|
|
|
|
|
|
|
Series 2003 E, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.800% 03/01/38 |
|
250,000 |
|
268,695 |
|
|
|
|
|
|
|
|
|
TX Gulf Coast Industrial Development Authority |
|
|
|
|
|
|
|
|
|
Citgo Petroleum, |
|
|
|
|
|
|
|
Series 1998, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.000% 04/01/28 |
|
250,000 |
|
282,620 |
|
|
|
|
|
|
|
|
|
VI Public Finance Authority |
|
|
|
|
|
|
|
|
|
Hovensa Refinery, |
|
|
|
|
|
|
|
Series 2003, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.125% 07/01/22 |
|
200,000 |
|
214,722 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas Total |
|
951,395 |
|
|
|
|
|
|
|
|
|
|
|
|
|
INDUSTRIALS TOTAL |
|
4,001,991 |
|
|
|
|
|
|
|
|
|
OTHER 7.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other 0.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NY Convention Center Operating Corp. |
|
|
|
|
|
|
|
|
|
Yale Building Project, |
|
|
|
|
|
|
|
Series 2003, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 06/01/08 |
|
700,000 |
|
602,826 |
|
|
|
|
|
Other Total |
|
602,826 |
|
|
|
|
|
|
|
|
|
Pool/Bond Bank 1.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KS Development Finance Authority |
|
|
|
|
|
|
|
|
|
Water Pollution Control, |
|
|
|
|
|
|
|
5.500% 11/01/17 |
|
1,125,000 |
|
1,303,594 |
|
|
|
|
|
Pool/Bond Bank Total |
|
1,303,594 |
|
|
|
|
|
|
|
|
|
Refunded/Escrowed (d) 4.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FL Orange County Health Facilities Authority |
|
|
|
|
|
|
|
|
|
Orlando Regional Healthcare System, |
|
|
|
|
|
|
|
Pre-refunded Escrowed to Maturity, Series 1996 C, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.250% 10/01/13 |
|
1,740,000 |
|
2,086,626 |
|
|
|
|
|
|
|
|
|
IL Health Facilities Authority |
|
|
|
|
|
|
|
|
|
Swedish American Hospital, |
|
|
|
|
|
|
|
Pre-refunded 05/15/2011, Series 2000, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.875% 11/15/30 |
|
500,000 |
|
592,225 |
|
|
|
|
|
|
|
|
|
NC Lincoln County |
|
|
|
|
|
|
|
|
|
Lincoln County Hospital, |
|
|
|
|
|
|
|
Pre-refunded Escrowed to Maturity, Series 1991, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.000% 05/01/07 |
|
65,000 |
|
69,485 |
|
|
|
|
|
|
|
|
|
NC Municipal Power Agency |
|
|
|
|
|
|
|
|
|
Catawba No. 1, |
|
|
|
|
|
|
|
Pre-refunded Escrowed to Maturity, Series 1986, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 01/01/20 |
|
1,670,000 |
|
1,849,007 |
|
|
|
|
|
|
|
|
|
NY New York City |
|
|
|
|
|
|
|
|
|
Series 1997 A, |
|
|
|
|
|
11
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Refunded/Escrowed (d) (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.000% 08/01/07 |
|
80,000 |
|
86,216 |
|
TN Shelby County, Health, Education & Housing Facilities Board |
|
|
|
|
|
|
|
|
|
Open Arms Development Center: |
|
|
|
|
|
|
|
Pre-refunded 08/01/2012, Series 1992 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.750% 08/01/19 |
|
405,000 |
|
480,350 |
|
|
|
Pre-refunded 08/01/2012, Series 1992 C, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.750% 08/01/19 |
|
405,000 |
|
480,350 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Refunded/Escrowed Total |
|
5,644,259 |
|
|
|
|
|
|
|
|
|
Tobacco 1.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CA Golden State Tobacco Securitization Authority |
|
|
|
|
|
|
|
|
|
Series 2003 A-1, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.250% 06/01/33 |
|
750,000 |
|
764,235 |
|
|
|
Series 2003 B, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 06/01/43 |
|
500,000 |
|
533,780 |
|
|
|
|
|
|
|
|
|
SC Tobacco Settlement Revenue Management Authority |
|
|
|
|
|
|
|
|
|
Series 2001 B, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.375% 05/15/28 |
|
400,000 |
|
408,164 |
|
WI Badger Tobacco Asset Securitization Corp. |
|
|
|
|
|
|
|
|
|
Series 2002, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.375% 06/01/32 |
|
250,000 |
|
254,247 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Tobacco Total |
|
1,960,426 |
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER TOTAL |
|
9,511,105 |
|
|
|
|
|
|
|
|
|
OTHER REVENUE 2.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hotels 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MA Boston Industrial Development Finance Authority |
|
|
|
|
|
|
|
|
|
Crosstown Center Project, |
|
|
|
|
|
|
|
Series 2002, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.500% 09/01/35 |
|
100,000 |
|
97,673 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Hotels Total |
|
97,673 |
|
|
|
|
|
|
|
|
|
Recreation 1.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CA Cabazon Band Mission Indian |
|
|
|
|
|
|
|
|
|
Series 2004: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.375% 10/01/15(e) |
|
110,000 |
|
110,863 |
|
|
|
|
|
|
|
|
|
|
|
8.750% 10/01/19(e) |
|
390,000 |
|
393,799 |
|
|
|
|
|
|
|
|
|
DC District of Columbia |
|
|
|
|
|
|
|
|
|
Smithsonian Institution, |
|
|
|
|
|
|
|
Series 1997, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 02/01/28 |
|
1,000,000 |
|
1,018,130 |
|
|
|
|
|
|
|
|
|
FL Capital Trust Agency |
|
|
|
|
|
|
|
|
|
Seminole Tribe Convention Center, |
|
|
|
|
|
|
|
Series 2002 A, |
|
|
|
|
|
12
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER REVENUE (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recreation (continued) |
|
|
|
|
|
|
|
|
|
10.000% 10/01/33(e) |
|
500,000 |
|
569,845 |
|
|
|
|
|
Recreation Total |
|
2,092,637 |
|
Retail 0.4% |
|
|
|
|
|
|
|
MN International Falls |
|
|
|
|
|
|
|
|
|
Office Max Corp., |
|
|
|
|
|
|
|
Series 1999, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.850% 12/01/29 |
|
500,000 |
|
541,930 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail Total |
|
541,930 |
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER REVENUE TOTAL |
|
2,732,240 |
|
|
|
|
|
|
|
|
|
RESOURCE RECOVERY 3.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Disposal 1.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IL Development Finance Authority |
|
|
|
|
|
|
|
|
|
Waste Management, Inc., |
|
|
|
|
|
|
|
Series 1997, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.050% 01/01/10 |
|
500,000 |
|
522,875 |
|
MA Industrial Finance Agency |
|
|
|
|
|
|
|
|
|
Peabody Monofill Associates, Inc., |
|
|
|
|
|
|
|
Series 1995, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.000% 09/01/05 |
|
45,000 |
|
45,545 |
|
|
|
|
|
|
|
|
|
MI State Strategic Fund |
|
|
|
|
|
|
|
|
|
Waste Management, |
|
|
|
|
|
|
|
Series 1995, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.200% 04/01/10 |
|
500,000 |
|
526,550 |
|
|
|
|
|
|
|
|
|
OH State Solid Waste |
|
|
|
|
|
|
|
|
|
Republic Services, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.250% 04/01/33 |
|
500,000 |
|
491,105 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Disposal Total |
|
1,586,075 |
|
|
|
|
|
|
|
|
|
Resource Recovery 1.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MA Industrial Finance Agency |
|
|
|
|
|
|
|
|
|
Ogden Haverhill Project, |
|
|
|
|
|
|
|
Series 1998 A, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.450% 12/01/12 |
|
1,250,000 |
|
1,267,075 |
|
|
|
|
|
|
|
|
|
PA Delaware County Industrial Development Authority |
|
|
|
|
|
|
|
|
|
BFI, |
|
|
|
|
|
|
|
Series 1997 A, |
|
|
|
|
|
|
|
6.100% 07/01/13 |
|
1,000,000 |
|
1,045,290 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Resource Recovery Total |
|
2,312,365 |
|
|
|
|
|
|
|
|
|
|
|
|
|
RESOURCE RECOVERY TOTAL |
|
3,898,440 |
|
|
|
|
|
|
|
|
|
TAX-BACKED 53.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Local Appropriated 4.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CA Compton Certificates of Participation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Civic Center & Capital Improvements, |
|
|
|
|
|
|
|
Series 1997 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 09/01/15 |
|
500,000 |
|
523,440 |
|
CA Los Angeles County |
|
|
|
|
|
|
|
|
|
Series 1999 A, |
|
|
|
|
|
|
|
Insured: AMBAC |
|
|
|
|
|
13
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TAX-BACKED (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Local Appropriated (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 08/01/21 |
|
2,135,000 |
|
956,309 |
|
MN Andover Economic Development Authority |
|
|
|
|
|
|
|
|
|
Andover Community Center, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 02/01/19 |
|
600,000 |
|
620,940 |
|
|
|
|
|
|
|
|
|
MN Hibbing Economic Development Authority |
|
|
|
|
|
|
|
|
|
Series 1997, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.400% 02/01/12 |
|
335,000 |
|
342,387 |
|
|
|
|
|
|
|
|
|
MO Industrial Development Finance Authority |
|
|
|
|
|
|
|
|
|
St. Louis Convention Center, |
|
|
|
|
|
|
|
Series 2000, |
|
|
|
|
|
|
|
Insured: AMBAC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 07/15/18 |
|
300,000 |
|
163,671 |
|
|
|
|
|
|
|
|
|
SC Berkeley County School District |
|
|
|
|
|
|
|
|
|
Series 2003, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 12/01/28 |
|
500,000 |
|
507,405 |
|
|
|
|
|
|
|
|
|
SC Dorchester County School District No. 2 |
|
|
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.250% 12/01/29 |
|
250,000 |
|
259,653 |
|
|
|
|
|
|
|
|
|
SC Lancaster Educational Assistance Program |
|
|
|
|
|
|
|
|
|
Lancaster County School District, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 12/01/26 |
|
550,000 |
|
555,461 |
|
TX Houston Independent School District |
|
|
|
|
|
|
|
|
|
Series 1999 A, |
|
|
|
|
|
|
|
Insured: AMBAC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 09/15/13 |
|
2,500,000 |
|
1,767,650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Local Appropriated Total |
|
5,696,916 |
|
Local General Obligations 19.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AK North Slope Borough |
|
|
|
|
|
|
|
|
|
Series 2001 A, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 06/30/12 |
|
2,000,000 |
|
1,507,420 |
|
|
|
|
|
|
|
|
|
CA Las Virgenes Unified School District |
|
|
|
|
|
|
|
|
|
Series 2001 C, |
|
|
|
|
|
|
|
Insured: FGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 11/01/22 |
|
1,210,000 |
|
513,379 |
|
|
|
|
|
|
|
|
|
CA Modesto High School District |
|
|
|
|
|
|
|
|
|
Stanislaus County, |
|
|
|
|
|
|
|
Series 2002 A, |
|
|
|
|
|
|
|
Insured: FGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 08/01/19 |
|
1,350,000 |
|
693,643 |
|
CA Pomona Unified School District |
|
|
|
|
|
|
|
|
|
Series 2000 A, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
14
|
|
|
|
Par ($) |
|
Value ($) |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TAX-BACKED (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Local General Obligations (continued) |
|
|
|
|
|
|
|
|
|
6.450% 08/01/22 |
|
1,000,000 |
|
1,274,300 |
|
CA Vallejo City Unified School District |
|
|
|
|
|
|
|
|
|
Series 2002 A, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.900% 08/01/25 |
|
2,000,000 |
|
2,384,180 |
|
|
|
|
|
|
|
|
|
CA West Contra Costa Unified School District |
|
|
|
|
|
|
|
|
|
Series 2001 B, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.000% 08/01/24 |
|
250,000 |
|
306,325 |
|
|
|
|
|
|
|
|
|
CO Highlands Ranch Metropolitan District |
|
|
|
|
|
|
|
|
|
Series 1996, |
|
|
|
|
|
|
|
Insured: CGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.500% 06/15/11 |
|
1,375,000 |
|
1,615,996 |
|
|
|
|
|
|
|
|
|
IL Chicago Board of Education |
|
|
|
|
|
|
|
|
|
Series 1998 B-1: |
|
|
|
|
|
|
|
Insured: FGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 12/01/21 |
|
2,000,000 |
|
897,360 |
|
|
|
Inusred: FGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 12/01/11 |
|
1,000,000 |
|
776,250 |
|
|
|
|
|
|
|
|
|
IL Chicago |
|
|
|
|
|
|
|
|
|
Series 1995 A-2, |
|
|
|
|
|
|
|
Insured: AMBAC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.250% 01/01/14 |
|
1,480,000 |
|
1,754,940 |
|
|
|
Series 1999, |
|
|
|
|
|
|
|
Insured: FGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 01/01/23 |
|
1,000,000 |
|
1,155,170 |
|
|
|
Series 2001 A, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 01/01/15 |
|
3,000,000 |
|
1,958,550 |
|
|
|
|
|
|
|
|
|
IL Hoffman Estates Park District |
|
|
|
|
|
|
|
|
|
Debt Certificates, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 12/01/16 |
|
500,000 |
|
529,670 |
|
|
|
|
|
|
|
|
|
IL St. Clair County Public Building Commission |
|
|
|
|
|
|
|
|
|
Series 1997 B, |
|
|
|
|
|
|
|
Insured: FGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 12/01/13 |
|
2,000,000 |
|
1,402,900 |
|
|
|
|
|
|
|
|
|
IL St. Clair County |
|
|
|
|
|
|
|
|
|
Series 1999, |
|
|
|
|
|
|
|
Insured: FGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 10/01/16 |
|
2,000,000 |
|
1,198,340 |
|
|
|
|
|
|
|
|
|
IL Will County School District No. 17 |
|
|
|
|
|
|
|
|
|
Series 2001, |
|
|
|
|
|
|
|
Insured: AMBAC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.500% 12/01/15 |
|
1,400,000 |
|
1,968,428 |
|
|
|
|
|
|
|
|
|
MI Garden City School District |
|
|
|
|
|
|
|
|
|
Series 2001, |
|
|
|
|
|
|
|
Insured: QSBLF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 05/01/16 |
|
325,000 |
|
360,990 |
|
|
|
|
|
|
|
|
|
MI St. Johns Public School |
|
|
|
|
|
|
|
|
|
Series 1998, |
|
|
|
|
|
15
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TAX-BACKED (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Local General Obligations (continued) |
|
|
|
|
|
|
|
|
|
Insured: FGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.100% 05/01/25 |
|
1,000,000 |
|
1,104,260 |
|
|
|
|
|
|
|
|
|
NY New York City |
|
|
|
|
|
|
|
|
|
Series 2003 J, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 06/01/18 |
|
500,000 |
|
548,430 |
|
|
|
|
|
|
|
|
|
OH Kenston Local School District |
|
|
|
|
|
|
|
|
|
Series 2003, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 12/01/23 |
|
1,000,000 |
|
1,057,600 |
|
|
|
|
|
|
|
|
|
TX Brenham |
|
|
|
|
|
|
|
|
|
Series 2001, |
|
|
|
|
|
|
|
Insured: FSA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.375% 08/15/16 |
|
1,040,000 |
|
1,150,022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TX Dallas County Flood Control District No. 1 |
|
|
|
|
|
|
|
|
|
Series 2002, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.250% 04/01/32 |
|
500,000 |
|
518,175 |
|
|
|
|
|
|
|
|
|
TX La Joya Independent School District |
|
|
|
|
|
|
|
|
|
Series 1998, |
|
|
|
|
|
|
|
Insured: PSFG |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 02/15/12 |
|
1,000,000 |
|
1,070,380 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Local General Obligations Total |
|
25,746,708 |
|
|
|
|
|
|
|
|
|
Special Non-Property Tax 6.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FL Tampa Sports Authority |
|
|
|
|
|
|
|
|
|
Tampa Bay Arena Project, |
|
|
|
|
|
|
|
Series 1995, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.750% 10/01/25 |
|
1,000,000 |
|
1,193,680 |
|
|
|
|
|
|
|
|
|
NJ Economic Development Authority |
|
|
|
|
|
|
|
|
|
Cigarette Tax, |
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.750% 06/15/29 |
|
500,000 |
|
531,390 |
|
|
|
|
|
|
|
|
|
NM Dona Ana County |
|
|
|
|
|
|
|
|
|
Series 1998, |
|
|
|
|
|
|
|
Insured: AMBAC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 06/01/15 |
|
1,000,000 |
|
1,141,690 |
|
|
|
|
|
|
|
|
|
NY New York City Transitional Finance Authority |
|
|
|
|
|
|
|
|
|
Series 1998 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 11/15/26 |
|
1,960,000 |
|
2,037,400 |
|
|
|
|
|
|
|
|
|
NY State Local Government Assistance Corp. |
|
|
|
|
|
|
|
|
|
Series 1993 E, |
|
|
|
|
|
|
|
5.000% 04/01/21 |
|
3,000,000 |
|
3,267,540 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Special Non-Property Tax Total |
|
8,171,700 |
|
|
|
|
|
|
|
|
|
Special Property Tax 3.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CA Huntington Beach Community Facilities District |
|
|
|
|
|
|
|
16
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TAX-BACKED (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Special Property Tax (continued) |
|
|
|
|
|
|
|
|
|
Grand Coast Resort, |
|
|
|
|
|
|
|
Series 2001, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.450% 09/01/31 |
|
300,000 |
|
313,341 |
|
|
|
|
|
|
|
|
|
CA Lincoln Community Facilities District No. 2003-1 |
|
|
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.550% 09/01/18 |
|
500,000 |
|
501,575 |
|
|
|
|
|
|
|
|
|
CA Oakdale Public Financing Authority |
|
|
|
|
|
|
|
|
|
Central City Redevelopment Project, |
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.375% 06/01/33 |
|
500,000 |
|
503,765 |
|
|
|
|
|
|
|
|
|
FL Celebration Community Development District |
|
|
|
|
|
|
|
|
|
Series 2003 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.400% 05/01/34 |
|
250,000 |
|
261,870 |
|
|
|
|
|
|
|
|
|
FL Double Branch Community Development District |
|
|
|
|
|
|
|
|
|
Series 2002 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.700% 05/01/34 |
|
335,000 |
|
362,430 |
|
|
|
|
|
|
|
|
|
FL Seven Oaks Community Development District |
|
|
|
|
|
|
|
|
|
Series 2004 B, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 05/01/09 |
|
250,000 |
|
249,917 |
|
|
|
|
|
|
|
|
|
|
|
Series 2004 A, |
|
|
|
|
|
|
|
5.875% 05/01/35 |
|
500,000 |
|
503,865 |
|
|
|
|
|
|
|
|
|
IL Chicago Tax Increment |
|
|
|
|
|
|
|
|
|
Pilsen Redevelopment, |
|
|
|
|
|
|
|
Series 2004 B, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.750% 06/01/22 |
|
610,000 |
|
632,442 |
|
|
|
|
|
|
|
|
|
IL Lincolnshire Special Services No. 1 |
|
|
|
|
|
|
|
|
|
Sedgebrook Project, |
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.250% 03/01/34 |
|
225,000 |
|
235,931 |
|
|
|
|
|
|
|
|
|
MO Riverside Tax Increment |
|
|
|
|
|
|
|
|
|
L-385 Levee Project |
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.250% 05/01/20 |
|
500,000 |
|
511,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Special Property Tax Total |
|
4,076,576 |
|
|
|
|
|
|
|
|
|
State Appropriated 12.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IN State Office Building Commission |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Womens Prison, |
|
|
|
|
|
|
|
Series 1995 B, |
|
|
|
|
|
|
|
Insured: AMBAC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.250% 07/01/16 |
|
2,820,000 |
|
3,370,605 |
|
|
|
|
|
|
|
|
|
KY State Property & Buildings Commission |
|
|
|
|
|
|
|
|
|
Project No. 73, |
|
|
|
|
|
17
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TAX-BACKED (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State Appropriated (continued) |
|
|
|
|
|
|
|
|
|
Series 2001, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 11/01/14 |
|
455,000 |
|
510,542 |
|
NY Dormitory Authority |
|
|
|
|
|
|
|
|
|
City University, Series 1993 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.750% 07/01/18 |
|
5,000,000 |
|
5,764,550 |
|
|
|
Mental Health Services, |
|
|
|
|
|
|
|
Series 1998 C, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 02/15/11 |
|
1,485,000 |
|
1,572,808 |
|
|
|
State University, |
|
|
|
|
|
|
|
Series 2000 C, |
|
|
|
|
|
|
|
Insured: FSA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.750% 05/15/17 |
|
1,000,000 |
|
1,180,470 |
|
|
|
|
|
|
|
|
|
NY Urban Development Corp. |
|
|
|
|
|
|
|
|
|
5.600% 04/01/15 |
|
1,000,000 |
|
1,126,350 |
|
|
|
|
|
|
|
|
|
UT Building Ownership Authority |
|
|
|
|
|
|
|
|
|
Facilities Master Lease, |
|
|
|
|
|
|
|
Series 1998 C, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insured: FSA |
|
|
|
|
|
|
|
5.500% 05/15/19 |
|
1,750,000 |
|
2,017,960 |
|
WV Building Commission |
|
|
|
|
|
|
|
|
|
Series 1998 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insured: AMBAC |
|
|
|
|
|
|
|
5.375% 07/01/18 |
|
500,000 |
|
563,885 |
|
|
|
|
|
State Appropriated Total |
|
16,107,170 |
|
|
|
|
|
|
|
|
|
State General Obligations 7.8% |
|
|
|
|
|
|
|
CA State |
|
|
|
|
|
|
|
|
|
Series 1995, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.750% 03/01/19 |
|
70,000 |
|
71,571 |
|
|
|
|
|
|
|
|
|
DC District of Columbia |
|
|
|
|
|
|
|
|
|
Series 1999 A, |
|
|
|
|
|
|
|
Insured: FSA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.375% 06/01/18 |
|
890,000 |
|
969,388 |
|
MA State |
|
|
|
|
|
|
|
|
|
Series 1998 C, |
|
|
|
|
|
|
|
5.250% 08/01/17 |
|
1,000,000 |
|
1,117,260 |
|
NJ State |
|
|
|
|
|
|
|
|
|
Series 2001, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.250% 07/01/16 |
|
2,000,000 |
|
2,253,280 |
|
PR Commonwealth of Puerto Rico |
|
|
|
|
|
|
|
|
|
Aqueduct & Sewer Authority, |
|
|
|
|
|
|
|
Series 1995: |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.250% 07/01/13 |
|
750,000 |
|
896,850 |
|
|
|
|
|
|
|
|
|
|
|
6.250% 07/01/12 |
|
1,000,000 |
|
1,182,310 |
|
|
|
Series 2001, |
|
|
|
|
|
|
|
Insured: FSA |
|
|
|
|
|
18
|
|
|
|
Par ($) |
|
Value ($)* |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TAX-BACKED (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State General Obligations (continued) |
|
|
|
|
|
|
|
|
|
5.500% 07/01/17 |
|
1,000,000 |
|
1,162,970 |
|
|
|
Series 2004 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 07/01/30 |
|
300,000 |
|
319,890 |
|
|
|
|
|
|
|
|
|
TX State |
|
|
|
|
|
|
|
|
|
Series 1999 ABC, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 08/01/35 |
|
2,000,000 |
|
2,149,860 |
|
|
|
|
|
|
|
|
|
|
|
|
|
State General Obligations Total |
|
10,123,379 |
|
|
|
|
|
|
|
|
|
|
|
|
|
TAX-BACKED TOTAL |
|
69,922,449 |
|
|
|
|
|
|
|
|
|
TRANSPORTATION 10.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Air Transportation 2.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IL Chicago OHare International Airport |
|
|
|
|
|
|
|
|
|
United Air Lines, Inc., |
|
|
|
|
|
|
|
Series 2000 A, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.750% 11/01/11(b) |
|
800,000 |
|
285,848 |
|
|
|
|
|
|
|
|
|
IN Indianapolis Airport Authority |
|
|
|
|
|
|
|
|
|
Fed Ex Corp., |
|
|
|
|
|
|
|
Series 2004, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.100% 01/15/17 |
|
250,000 |
|
263,675 |
|
|
|
|
|
|
|
|
|
KY Kenton County Airport Board |
|
|
|
|
|
|
|
|
|
Delta Air Lines, Inc., |
|
|
|
|
|
|
|
Series1992 A, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.500% 02/01/12 |
|
250,000 |
|
234,375 |
|
|
|
|
|
|
|
|
|
MN Minneapolis & St. Paul Metropolitan Airport Commission |
|
|
|
|
|
|
|
|
|
Northwest Airlines, Inc., |
|
|
|
|
|
|
|
Series 2001 A, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.000% 04/01/25 |
|
350,000 |
|
323,250 |
|
|
|
|
|
|
|
|
|
NC Charlotte Douglas International Airport |
|
|
|
|
|
|
|
|
|
US Airways, Inc.: |
|
|
|
|
|
|
|
Series 1998, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.600% 07/01/27(f) |
|
500,000 |
|
297,990 |
|
|
|
Series 2000, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.750% 02/01/28(f) |
|
500,000 |
|
351,630 |
|
|
|
|
|
|
|
|
|
NJ Economic Development Authority |
|
|
|
|
|
|
|
|
|
Continental Airlines, Inc., |
|
|
|
|
|
|
|
Series 1999, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.250% 09/15/19 |
|
500,000 |
|
416,435 |
|
|
|
|
|
|
|
|
|
NY Port Authority of New York & New Jersey |
|
|
|
|
|
|
|
|
|
JFK International Air Terminal, |
|
|
|
|
|
|
|
Series 1997, AMT, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.250% 12/01/08 |
|
1,000,000 |
|
1,102,660 |
|
|
|
|
|
|
|
|
|
TX Houston Industrial Development Authority |
|
|
|
|
|
|
|
|
|
Air Cargo, Perot Development, |
|
|
|
|
|
|
|
Series 2002, AMT, |
|
|
|
|
|
19
|
|
|
|
Par ($) |
|
Value ($) |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TRANSPORTATION (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Air Transportation (continued) |
|
|
|
|
|
|
|
|
|
6.000% 03/01/23 |
|
390,018 |
|
403,668 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Air Transportation Total |
|
3,679,531 |
|
|
|
|
|
|
|
|
|
Airports 0.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MA Port Authority |
|
|
|
|
|
|
|
|
|
Series 1999, IFRN, |
|
|
|
|
|
|
|
Insured: FGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.874% 07/01/29(g) |
|
1,000,000 |
|
1,188,050 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Airports Total |
|
1,188,050 |
|
|
|
|
|
|
|
|
|
Toll Facilities 4.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CA Foothill/Eastern Transportation Corridor Agency |
|
|
|
|
|
|
|
|
|
Series 1995 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.000% 01/01/35(h) |
|
1,000,000 |
|
924,270 |
|
|
|
|
|
|
|
|
|
CA San Joaquin Hills Transportation Corridor Agency |
|
|
|
|
|
|
|
|
|
Series 1997 A, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 01/15/15 |
|
2,000,000 |
|
1,312,220 |
|
|
|
|
|
|
|
|
|
CO E-470 Public Highway Authority |
|
|
|
|
|
|
|
|
|
Series 1997 B, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) 09/01/11 |
|
2,000,000 |
|
1,568,720 |
|
|
|
|
|
|
|
|
|
CO Northwest Parkway Public Highway Authority |
|
|
|
|
|
|
|
|
|
Series 2001 D, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.125% 06/15/41 |
|
500,000 |
|
541,935 |
|
|
|
|
|
|
|
|
|
NH Turnpike Systems |
|
|
|
|
|
|
|
|
|
Series 1991 C, IFRN, |
|
|
|
|
|
|
|
Insured: FGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11.422% 11/01/17(g) |
|
1,000,000 |
|
1,169,780 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Toll Facilities Total |
|
5,516,925 |
|
|
|
|
|
|
|
|
|
Transportation 2.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IL Regional Transportation Authority |
|
|
|
|
|
|
|
|
|
Series 1994 C, |
|
|
|
|
|
|
|
Insured: FGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.750% 06/01/20 |
|
1,000,000 |
|
1,399,650 |
|
|
|
|
|
|
|
|
|
NV Department of Business & Industry |
|
|
|
|
|
|
|
|
|
Las Vegas Monorail Project, |
|
|
|
|
|
|
|
Series 2000, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.375% 01/01/30 |
|
250,000 |
|
257,090 |
|
|
|
|
|
|
|
|
|
|
|
7.375% 01/01/40 |
|
250,000 |
|
255,870 |
|
|
|
|
|
|
|
|
|
OH Toledo-Lucas County Port Authority |
|
|
|
|
|
|
|
|
|
CSX Transportation, Inc., |
|
|
|
|
|
|
|
Series 1992, |
|
|
|
|
|
20
|
|
|
|
Par ($) |
|
Value ($) |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TRANSPORTATION (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transportation (continued) |
|
|
|
|
|
|
|
|
|
6.450% 12/15/21 |
|
1,000,000 |
|
1,131,790 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Transportation Total |
|
3,044,400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
TRANSPORTATION TOTAL |
|
13,428,906 |
|
|
|
|
|
|
|
|
|
UTILITIES 18.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Independent Power Producers 1.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MI Midland County Economic Development Corp. |
|
|
|
|
|
|
|
|
|
Series 2000, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.875% 07/23/09 |
|
600,000 |
|
622,110 |
|
|
|
|
|
|
|
|
|
NY New York City Industrial Development Agency |
|
|
|
|
|
|
|
|
|
Brooklyn Navy Yard Partners, |
|
|
|
|
|
|
|
Series 1997, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.650% 10/01/28 |
|
200,000 |
|
194,908 |
|
|
|
|
|
|
|
|
|
NY Suffolk County Industrial Development Authority |
|
|
|
|
|
|
|
|
|
Nissequogue Cogeneration Partners Facilities, |
|
|
|
|
|
|
|
Series 1998, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 01/01/23 |
|
550,000 |
|
536,365 |
|
|
|
|
|
|
|
|
|
PA Carbon City Industrial Development Authority |
|
|
|
|
|
|
|
|
|
Panther Creek Partners Project, |
|
|
|
|
|
|
|
Series 2000, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.650% 05/01/10 |
|
140,000 |
|
151,386 |
|
|
|
|
|
|
|
|
|
PR Commonwealth of Puerto Rico Industrial, Educational, Medical & Environmental Authority |
|
|
|
|
|
|
|
|
|
AES Project, |
|
|
|
|
|
|
|
Series 2000, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.625% 06/01/26 |
|
320,000 |
|
345,882 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Independent Power Producers Total |
|
1,850,651 |
|
|
|
|
|
|
|
|
|
Investor Owned 10.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AZ Maricopa County Pollution Control |
|
|
|
|
|
|
|
|
|
El Paso Electric Co., |
|
|
|
|
|
|
|
Series 2002 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.250% 05/01/37 |
|
500,000 |
|
507,355 |
|
|
|
|
|
|
|
|
|
CA Chula Vista Industrial Development |
|
|
|
|
|
|
|
|
|
San Diego Gas & Electric Co., |
|
|
|
|
|
|
|
Series 1996 B, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 12/01/21 |
|
625,000 |
|
667,719 |
|
|
|
|
|
|
|
|
|
FL Polk County Industrial Development Authority |
|
|
|
|
|
|
|
|
|
Tampa Electric Co. Project, |
|
|
|
|
|
|
|
Series 1996, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.850% 12/01/30 |
|
500,000 |
|
511,620 |
|
|
|
|
|
|
|
|
|
IN Petersburg |
|
|
|
|
|
|
|
|
|
Indiana Power & Light Co., |
|
|
|
|
|
|
|
Series 1993 B, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.400% 08/01/17 |
|
2,500,000 |
|
2,811,275 |
|
MI Strategic Fund |
|
|
|
|
|
|
|
21
|
|
|
|
Par ($) |
|
Value ($) |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UTILITIES (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investor Owned (continued) |
|
|
|
|
|
|
|
|
|
Detroit Edison Co., |
|
|
|
|
|
|
|
Series 1998 A, AMT, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.550% 09/01/29 |
|
3,000,000 |
|
3,177,960 |
|
|
|
|
|
|
|
|
|
MS Business Finance Corp. |
|
|
|
|
|
|
|
|
|
Systems Energy Resources Project, |
|
|
|
|
|
|
|
Series 1998, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.875% 04/01/22 |
|
1,000,000 |
|
1,004,760 |
|
|
|
|
|
|
|
|
|
MT Forsyth Pollution Control |
|
|
|
|
|
|
|
|
|
Portland General, |
|
|
|
|
|
|
|
Series 1998 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.200% 05/01/33 |
|
150,000 |
|
158,409 |
|
|
|
|
|
|
|
|
|
NV Clark County Industrial Development Authority |
|
|
|
|
|
|
|
|
|
Nevada Power Co.: |
|
|
|
|
|
|
|
Series 1995 B, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.900% 10/01/30 |
|
250,000 |
|
244,513 |
|
|
|
Series 1997 A, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.900% 11/01/32 |
|
250,000 |
|
244,510 |
|
|
|
|
|
|
|
|
|
OH Air Quality Development Authority |
|
|
|
|
|
|
|
|
|
Cleveland Electric, |
|
|
|
|
|
|
|
Series 2002 A, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.000% 12/01/13 |
|
650,000 |
|
689,780 |
|
PA Economic Development Financing Authority Exempt Facilities Revenue |
|
|
|
|
|
|
|
|
|
Reliant Energy Seward, |
|
|
|
|
|
|
|
Series 2001 A, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.750% 12/01/36 |
|
200,000 |
|
213,648 |
|
TX Brazos River Authority Pollution Control Revenue |
|
|
|
|
|
|
|
|
|
TXU Electric Co., |
|
|
|
|
|
|
|
Series 2003 C, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.750% 10/01/38 |
|
270,000 |
|
294,540 |
|
TX Brazos River Authority |
|
|
|
|
|
|
|
|
|
TXU Electric Co.: |
|
|
|
|
|
|
|
Series 1999, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.700% 04/01/33 |
|
250,000 |
|
295,032 |
|
|
|
Series 2001 C, AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.750% 05/01/36 |
|
100,000 |
|
107,687 |
|
TX Matagorda County Navigation District No. 1 |
|
|
|
|
|
|
|
|
|
Houston Light & Power Co., |
|
|
|
|
|
|
|
Series 1997, AMT, |
|
|
|
|
|
|
|
Insured: AMBAC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.125% 11/01/28 |
|
2,000,000 |
|
2,149,760 |
|
22
|
|
|
|
Par ($) |
|
Value ($) |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UTILITIES (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investor Owned (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WY Campbell County Pollution Control |
|
|
|
|
|
|
|
|
|
Black Hills Power, Inc., |
|
|
|
|
|
|
|
Series 2004, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.350% 10/01/24 |
|
500,000 |
|
509,850 |
|
|
|
|
|
|
|
|
|
WY Converse County Pollution Control |
|
|
|
|
|
|
|
|
|
Pacificorp, |
|
|
|
|
|
|
|
Series 1988, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.900% 01/01/14 |
|
500,000 |
|
484,360 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Investor Owned Total |
|
14,072,778 |
|
|
|
|
|
|
|
|
|
Joint Power Authority 3.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MA Municipal Wholesale Electric Co. |
|
|
|
|
|
|
|
|
|
Power Supply System, Project 6-A, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.250% 07/01/14 |
|
1,000,000 |
|
1,104,380 |
|
|
|
|
|
|
|
|
|
NC Eastern Municipal Power Agency |
|
|
|
|
|
|
|
|
|
Series 2003 F, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 01/01/16 |
|
285,000 |
|
306,563 |
|
|
|
|
|
|
|
|
|
NC Municipal Power Agency |
|
|
|
|
|
|
|
|
|
Catawba Electric No. 1: |
|
|
|
|
|
|
|
Series 1998 A, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 01/01/15 |
|
640,000 |
|
722,995 |
|
|
|
Series 2003 A, |
|
|
|
|
|
|
|
Insured: MBIA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.250% 01/01/18 |
|
2,500,000 |
|
2,733,075 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Joint Power Authority Total |
|
4,867,013 |
|
|
|
|
|
|
|
|
|
Municipal Electric 1.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CA Department of Water Resources |
|
|
|
|
|
|
|
|
|
Power Supply Revenue Bonds, |
|
|
|
|
|
|
|
Series 2002 A, |
|
|
|
|
|
|
|
Insured: AMBAC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.500% 05/01/14 |
|
1,000,000 |
|
1,133,910 |
|
NC University of North Carolina at Chapel Hill |
|
|
|
|
|
|
|
|
|
Series 1997, |
|
|
|
|
|
|
|
(a) 08/01/14 |
|
1,000,000 |
|
685,110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Electric Total |
|
1,819,020 |
|
Water & Sewer 1.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MS V Lakes Utility District |
|
|
|
|
|
|
|
|
|
Series 1994, |
|
|
|
|
|
|
|
8.250% 07/15/24 |
|
140,000 |
|
139,838 |
|
|
|
|
|
|
|
|
|
WA King County |
|
|
|
|
|
|
|
|
|
Series 1999, |
|
|
|
|
|
|
|
Insured: FGIC |
|
|
|
|
|
23
|
|
|
|
Par ($) |
|
Value ($) |
|
Municipal Bonds (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UTILITIES (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Water & Sewer (continued) |
|
|
|
|
|
|
|
|
|
5.250% 01/01/30 |
|
1,750,000 |
|
1,847,720 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Water & Sewer Total |
|
1,987,558 |
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL UTILITIES |
|
24,597,020 |
|
|
|
|
|
|
|
|
|
|
|
Total Municipal Bonds (cost of $172,572,584) |
|
|
|
182,572,644 |
|
|
|
|
|
|
|
|
|
Municipal Preferred Stocks 1.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HOUSING 1.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Multi-Family 1.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Charter Municipal Mortgage Acceptance Co. |
|
|
|
|
|
|
|
|
|
AMT: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.300% 04/30/19(e) |
|
500,000 |
|
536,620 |
|
|
|
|
|
|
|
|
|
|
|
7.600% 11/30/10(e) |
|
500,000 |
|
576,020 |
|
|
|
|
|
|
|
|
|
GMAC Municipal Mortgage |
|
|
|
|
|
|
|
|
|
AMT, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.600% 10/31/39(e) |
|
500,000 |
|
501,485 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Multi-Family Total |
|
1,614,125 |
|
|
|
|
|
|
|
|
|
|
|
|
|
HOUSING TOTAL |
|
1,614,125 |
|
|
|
|
|
|
|
|
|
|
|
Total Municipal Preferred Stocks (cost of $1,500,000) |
|
|
|
1,614,125 |
|
|
|
|
|
|
|
|
|
Investment Companies 0.1% |
|
|
|
|
|
|
|
|
|
Dreyfus Tax-Exempt Cash Management Fund |
|
200,001 |
|
200,001 |
|
|
|
|
|
|
|
|
|
|
|
Total Investment Companies |
|
|
|
200,001 |
|
|
|
|
|
|
|
|
|
Short-Term Obligations 3.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VARIABLE RATE DEMAND NOTES (i) 3.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CA State Department Water Resources |
|
|
|
|
|
|
|
|
|
Power Supply Revenue, |
|
|
|
|
|
|
|
Series 2002 B-2, |
|
|
|
|
|
|
|
LOC: BNP Paribas |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.750% 05/01/22 |
|
2,400,000 |
|
2,400,000 |
|
|
|
|
|
|
|
|
|
FL Alachua Health Facilities Authority Continuing Care |
|
|
|
|
|
|
|
|
|
Oak Hammock University, |
|
|
|
|
|
|
|
Series 2002 A, |
|
|
|
|
|
|
|
LOC: BNP Paribas |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.750% 10/01/32 |
|
200,000 |
|
200,000 |
|
|
|
|
|
|
|
|
|
FL Collier County Health Facilities Authority Hospital Revenue |
|
|
|
|
|
|
|
|
|
Cleveland Clinic Health, |
|
|
|
|
|
24
|
|
|
|
Par ($) |
|
Value ($) |
|
Short-Term Obligations (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VARIABLE RATE DEMAND NOTES (i) (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series 2003 C-1, |
|
|
|
|
|
|
|
LOC: JPMorgan Chase Bank |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.740% 01/01/35 |
|
100,000 |
|
100,000 |
|
|
|
|
|
|
|
|
|
FL Orange County School Board |
|
|
|
|
|
|
|
|
|
Certificates of Participation, |
|
|
|
|
|
|
|
Series 2002 B, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.780% 08/01/27 |
|
300,000 |
|
300,000 |
|
|
|
|
|
|
|
|
|
IA Woodbury County Educational Facilities |
|
|
|
|
|
|
|
|
|
Siouxland Medical Educational Foundation, |
|
|
|
|
|
|
|
Series 1996, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.920% 11/01/16 |
|
100,000 |
|
100,000 |
|
|
|
|
|
|
|
|
|
IL Quad Cities Regional Economic Development Authority |
|
|
|
|
|
|
|
|
|
Two Rivers YMCA Project, |
|
|
|
|
|
|
|
Series 2002, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.800% 12/01/31 |
|
100,000 |
|
100,000 |
|
|
|
|
|
|
|
|
|
NY New York City Municipal Water Finance Authority |
|
|
|
|
|
|
|
|
|
Water & Sewer Systems, |
|
|
|
|
|
|
|
Series 1994 G, |
|
|
|
|
|
|
|
Insured: FGIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.750% 06/15/24 |
|
1,700,000 |
|
1,700,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
VARIABLE RATE DEMAND NOTES TOTAL |
|
4,900,000 |
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Obligations (cost of $4,900,000) |
|
4,900,000 |
|
||
|
|
|
|
|
|
||
|
|
Total Investments 145.6% (cost of $179,172,585)(j)(k) |
|
189,286,770 |
|
||
|
|
|
|
|
|
||
|
|
Auction Preferred Shares plus cumulative unpaid distributions (46.2)% |
|
(60,022,539 |
) |
||
|
|
|
|
|
|
||
|
|
Other Assets & Liabilities, Net 0.6% |
|
707,837 |
|
||
|
|
|
|
|
|
||
|
|
Net Assets Applicable to Common Shareholders 100.0% |
|
129,972,068 |
|
25
Notes to Investment Portfolio:
* Security Valuation:
Debt securities generally are valued by pricing services approved by the Trusts Board of Trustees, based upon market transactions for normal, institutional-size trading units of similar securities. The services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as broker quotes. Debt securities for which quotations are readily available are valued at an over-the-counter or exchange bid quotation. Certain debt securities, which tend to be more thinly traded and of lesser quality, are priced based on fundamental analysis of the financial condition of the issuer and the estimated value of any collateral. Valuations developed through pricing techniques may vary from the actual amounts realized upon sale of the securities, and the potential variation may be greater for those securities valued using fundamental analysis.
Short-term debt obligations maturing within 60 days are valued at amortized cost, which approximates market value.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded.
Investments for which market quotations are not readily available, or quotations which management believes are not appropriate, are valued at fair value as determined in good faith under consistently applied procedures established by and under the general supervision of the Board of Trustees.
(a) Zero coupon bond.
(b) The issuer has filed for bankruptcy protection under Chapter 11, and is in default of certain debt covenants. Income is not being accrued. As of February 28, 2005, the value of these securities amounted to $817,090, which represents 0.6% of net assets.
(c) Security purchased on a delayed delivery basis.
(d) The Trust has been informed that the issuer has placed direct obligations of the U.S. Government in an irrevocable trust, solely for the payment of principle and interest.
(e) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2005, these securities amounted to $2,688,632, which represents 2.1% of net assets.
(f) The issuer has filed for bankruptcy protection under Chapter 11. Income is being accrued. As of February 28, 2005, the value of these securities amounted to $649,620, which represents 0.5% of net assets.
(g) Variable rate security. The interest rate shown reflects the rate as of February 28, 2005.
(h) A portion of the security with a market value of $887,299 is pledged as collateral for open futures contracts.
(i) Variable rate demand notes. These securities are payable upon demand and are secured by letters of credit or other credit support agreements from banks. The interest rates change periodically and the interest rates shown reflects the rate as of February 28, 2005.
(j) Cost for federal income tax purposes is $178,856,760.
(k) Unrealized appreciation and depreciation at February 28, 2005, based on cost of investments for federal income tax purposes was:
Unrealized |
|
Unrealized |
|
Net Unrealized |
|
|||
|
|
|
|
|
|
|||
$ |
15,588,728 |
|
$ |
(5,158,718 |
) |
$ |
10,430,010 |
|
At February 28, 2005, the Trust held the following open short futures contracts:
Type |
|
Contracts |
|
Value |
|
Aggregate |
|
Expiration |
|
Unrealized (Depreciation) |
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|||
U.S. Treasury Notes |
|
177 |
|
$ |
19,624,875 |
|
$ |
19,747,425 |
|
Mar-2005 |
|
$ |
(150,450 |
) |
U.S. Treasury Bonds |
|
175 |
|
19,791,406 |
|
19,546,406 |
|
Jun-2005 |
|
(245,000 |
) |
|||
|
|
|
|
|
|
|
|
|
|
$ |
(395,450 |
) |
||
26
Acronym |
|
Name |
AMBAC |
|
Ambac Assurance Corp. |
AMT |
|
Alternative Minimum Tax |
CGIC |
|
Capital Guaranty Insurance Co. |
GIC |
|
Financial Guaranty Insurance Co. |
FHA |
|
Federal Housing Administration |
FNMA |
|
Federal National Mortgage Association |
FSA |
|
Financial Security Assurance, Inc. |
GNMA |
|
Government National Mortgage Association |
IFRN |
|
Inverse Floating Rate Note |
LOC |
|
Letter of Credit |
MBIA |
|
MBIA Insurance Corp. |
PSFG |
|
Permanent School Fund Guaranteed |
QSBLF |
|
Qualified State Bond Loan Fund |
RAD |
|
Radian Asset Assurance, Inc. |
27
Item 2. Controls and Procedures.
(a) The registrants principal executive officer and principal financial officer, based on their evaluation of the registrants disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-Q is accumulated and communicated to the registrants management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
(b) There were no changes in the registrants internal control over financial reporting that occurred during the registrants last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting.
Item 3. Exhibits.
Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(registrant) |
|
Colonial Investment Grade Municipal Trust |
|
||
|
|
|
|||
|
|
|
|||
By (Signature and Title) |
|
/S/ Christopher L. Wilson |
|
||
|
Christopher L. Wilson, President |
|
|||
|
|
|
|||
|
|
|
|||
Date |
|
April 27, 2005 |
|
||
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) |
|
/S/ Christopher L. Wilson |
|
||
|
Christopher L. Wilson, President |
|
|||
|
|
|
|||
|
|
|
|||
Date |
|
April 27, 2005 |
|
||
|
|
|
|
||
|
|
|
|
||
By (Signature and Title) |
|
/S/ J. Kevin Connaughton |
|
||
|
J. Kevin Connaughton, Treasurer |
|
|||
|
|
|
|||
|
|
|
|||
Date |
|
April 27, 2005 |
|
||