UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

OMB APPROVAL

 

OMB Number:    3235-0578
Expires:    May 31, 2007
Estimated average burden hours per response........21.09

 

 

 

 

FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number

811-5754

 

 

Colonial High Income Municipal Trust

(Exact name of registrant as specified in charter)

 

One Financial Center, Boston, Massachusetts

 

02111

(Address of principal executive offices)

 

(Zip code)

 

James R. Bordewick, Jr., Esq.

Columbia Management Advisors, LLC

One Financial Center

Boston, MA 02111

(Name and address of agent for service)

 

Registrant's telephone number, including area code:

1-617-426-3750

 

 

Date of fiscal year end:

11/30/06

 

 

 

 

Date of reporting period:

8/31/06

 

 


 

Item 1. Schedule of Investments.

 


 

INVESTMENT PORTFOLIO

August 31, 2006 (Unaudited)

 

Colonial High Income Municipal Trust

 

 

 

Par ($)

 

Value ($)*

 

Municipal Bonds – 153.0%

 

 

 

 

 

EDUCATION – 3.7%

 

 

 

 

 

Education – 2.4%

 

 

 

 

 

CA Educational Facilities Authority

 

 

 

 

 

Loyola Marymount University,

 

 

 

 

 

Series 2001,

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

(a) 10/01/19

 

2,025,000

 

1,150,261

 

MI Southfield Economic Development Corp.

 

 

 

 

 

Lawrence University,

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

5.400% 02/01/18

 

1,000,000

 

1,020,160

 

PA Higher Education Facilities Authority

 

 

 

 

 

Philadelphia University,

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

5.125% 06/01/25

 

600,000

 

611,670

 

VT Educational & Health Buildings Finance Agency

 

 

 

 

 

Norwich University,

 

 

 

 

 

Series 1998,

 

 

 

 

 

5.500% 07/01/21

 

1,500,000

 

1,560,285

 

WV University

 

 

 

 

 

Series 2000 A,

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

(a) 04/01/19

 

1,000,000

 

577,590

 

Education Total

 

4,919,966

 

Prep School – 1.3%

 

 

 

 

 

CA Statewide Communities Development Authority

 

 

 

 

 

Crossroads School for Arts & Sciences,

 

 

 

 

 

Series 1998,

 

 

 

 

 

6.000% 08/01/28(b)

 

1,230,000

 

1,278,068

 

MA Industrial Finance Agency

 

 

 

 

 

Cambridge Friends School,

 

 

 

 

 

Series 1998,

 

 

 

 

 

5.800% 09/01/28

 

1,000,000

 

1,018,530

 

MI Summit Academy North

 

 

 

 

 

Series 2005,

 

 

 

 

 

5.500% 11/01/35

 

500,000

 

473,695

 

Prep School Total

 

2,770,293

 

EDUCATION TOTAL

 

7,690,259

 

HEALTH CARE – 42.2%

 

 

 

 

 

Continuing Care Retirement – 15.4%

 

 

 

 

 

CA La Verne

 

 

 

 

 

Brethren Hillcrest Homes,

 

 

 

 

 

Series 2003 B,

 

 

 

 

 

6.625% 02/15/25

 

690,000

 

759,414

 

CO Health Facilities Authority

 

 

 

 

 

Covenant Retirement Communities, Inc.,

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

1


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

Continuing Care Retirement – (continued)

 

 

 

 

 

5.000% 12/01/35

 

1,400,000

 

1,412,278

 

CT Development Authority

 

 

 

 

 

Elim Park Baptist, Inc.,

 

 

 

 

 

Series 2003,

 

 

 

 

 

5.850% 12/01/33

 

660,000

 

702,035

 

FL Capital Projects Finance Authority

 

 

 

 

 

Glenridge on Palmer Ranch,

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

8.000% 06/01/32

 

750,000

 

838,365

 

FL Lee County Industrial Development Authority

 

 

 

 

 

Shell Point Village,

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

5.500% 11/15/29

 

600,000

 

612,450

 

GA Fulton County

 

 

 

 

 

Canterbury Court Project,

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

6.125% 02/15/34

 

750,000

 

786,128

 

GA Savannah Economic Development Authority

 

 

 

 

 

Marshes of Skidaway,

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

7.400% 01/01/34

 

465,000

 

492,351

 

IL Finance Authority

 

 

 

 

 

Lutheran Senior Services,

 

 

 

 

 

Series 2006,

 

 

 

 

 

5.125% 02/01/26

 

1,250,000

 

1,288,112

 

Washington & Jane Smith Community,

 

 

 

 

 

Series 2005 A,

 

 

 

 

 

6.250% 11/15/35

 

1,250,000

 

1,309,087

 

IL Health Facilities Authority

 

 

 

 

 

Washington & Jane Smith Community,

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

7.000% 11/15/32

 

725,000

 

785,646

 

IN Health & Educational Facilities Financing Authority

 

 

 

 

 

Baptist Homes of Indiana, Inc.,

 

 

 

 

 

Series 2005,

 

 

 

 

 

5.250% 11/15/35

 

1,000,000

 

1,017,450

 

KS Manhattan

 

 

 

 

 

Meadowlark Hills Retirement Home,

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

6.375% 05/15/20

 

650,000

 

670,092

 

MA Boston Industrial Development Financing Authority

 

 

 

 

 

Springhouse, Inc.,

 

 

 

 

 

Series 1998,

 

 

 

 

 

5.875% 07/01/20

 

255,000

 

259,019

 

MA Development Finance Agency

 

 

 

 

 

Loomis Communities:

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

 

2


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

Continuing Care Retirement – (continued)

 

 

 

 

 

5.625% 07/01/15

 

400,000

 

410,884

 

Series 2002 A,

 

 

 

 

 

6.900% 03/01/32

 

100,000

 

109,736

 

MD Westminster Economic Development Authority

 

 

 

 

 

Carroll Lutheran Village, Inc.,

 

 

 

 

 

Series 2004 A:

 

 

 

 

 

5.875% 05/01/21

 

500,000

 

516,920

 

6.250% 05/01/34

 

250,000

 

259,985

 

MI Kentwood Economic Development Corp.

 

 

 

 

 

Holland Home,

 

 

 

 

 

Series 2006 A,

 

 

 

 

 

5.375% 11/15/36(c)

 

1,000,000

 

1,019,200

 

MT Facility Finance Authority

 

 

 

 

 

St John’s Lutheran Minstries,Inc.

 

 

 

 

 

Series 2006 A,

 

 

 

 

 

6.125% 05/15/36

 

500,000

 

515,770

 

NC Medical Care Commission

 

 

 

 

 

United Methodist Retirement Homes, Inc.,

 

 

 

 

 

Series 2005 C,

 

 

 

 

 

5.500% 10/01/32

 

600,000

 

618,150

 

NH Higher Educational & Health Facilities Authority

 

 

 

 

 

Rivermead at Peterborough,

 

 

 

 

 

Series 1998:

 

 

 

 

 

5.625% 07/01/18

 

500,000

 

505,855

 

5.750% 07/01/28

 

500,000

 

505,390

 

NJ Economic Development Authority

 

 

 

 

 

Lions Gate,

 

 

 

 

 

Series 2005 A:

 

 

 

 

 

5.750% 01/01/25

 

205,000

 

211,868

 

5.875% 01/01/37

 

830,000

 

857,199

 

Lutheran Social Ministries,

 

 

 

 

 

Series 2005,

 

 

 

 

 

5.100% 06/01/27

 

500,000

 

504,410

 

Marcus L. Ward Home,

 

 

 

 

 

Series 2004,

 

 

 

 

 

5.750% 11/01/24

 

750,000

 

807,060

 

Seabrook Village, Inc.,

 

 

 

 

 

Series 2000 A,

 

 

 

 

 

8.250% 11/15/30

 

925,000

 

1,027,684

 

PA Bucks County Industrial Development Authority

 

 

 

 

 

Ann’s Choice, Inc.,

 

 

 

 

 

Series 2005 A,

 

 

 

 

 

6.125% 01/01/25

 

1,000,000

 

1,051,880

 

PA Delaware County Authority

 

 

 

 

 

Dunwoody Village,

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

5.375% 04/01/17

 

600,000

 

634,680

 

 

3


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

Continuing Care Retirement – (continued)

 

 

 

 

 

PA Montgomery County Industrial Development Authority

 

 

 

 

 

Whitemarsh Continuing Care Retirement Community,

 

 

 

 

 

Series 2005:

 

 

 

 

 

6.125% 02/01/28

 

250,000

 

264,070

 

6.250% 02/01/35

 

750,000

 

794,062

 

TN Johnson City Health & Educational Facilities Authority

 

 

 

 

 

Appalachian Christian Village,

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

6.250% 02/15/32

 

250,000

 

259,653

 

TN Metropolitan Government Nashville & Davidson County

 

 

 

 

 

Blakeford at Green Hills,

 

 

 

 

 

Series 1998,

 

 

 

 

 

5.650% 07/01/24

 

600,000

 

604,038

 

TN Shelby County Health Educational & Housing Facilities Board

 

 

 

 

 

Germantown Village,

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

7.250% 12/01/34

 

450,000

 

482,810

 

Trezevant Manor,

 

 

 

 

 

Series 2006 A,

 

 

 

 

 

5.625% 09/01/26

 

1,000,000

 

1,009,300

 

TX Abilene Health Facilities Development Corp.

 

 

 

 

 

Sears Methodist Retirement Center:

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

5.900% 11/15/25

 

1,000,000

 

1,015,570

 

Series 2003 A,

 

 

 

 

 

7.000% 11/15/33

 

500,000

 

541,605

 

TX Houston Health Facilities Development Corp.

 

 

 

 

 

Buckingham Senior Living Community, Inc.,

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

7.125% 02/15/34

 

500,000

 

554,050

 

TX Tarrant County Cultural Education Facilities

 

 

 

 

 

Northwest Senior Housing-Edgemere,

 

 

 

 

 

Series 2006 A,

 

 

 

 

 

6.000% 11/15/36

 

750,000

 

791,167

 

VA Suffolk Industrial Development Authority Retirement Facilities

 

 

 

 

 

Lake Prince Center,

 

 

 

 

 

Series 2006,

 

 

 

 

 

5.300% 09/01/31

 

500,000

 

505,985

 

VA Virginia Beach Development Authority

 

 

 

 

 

Westminster-Canterbury of Hampton,

 

 

 

 

 

Series 2005:

 

 

 

 

 

5.250% 11/01/26

 

250,000

 

255,380

 

5.375% 11/01/32

 

300,000

 

307,167

 

 

4


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

Continuing Care Retirement – (continued)

 

 

 

 

 

VA Winchester Industrial Development Authority

 

 

 

 

 

Westminster-Canterbury,

 

 

 

 

 

Series 2005 A,

 

 

 

 

 

5.300% 01/01/35

 

750,000

 

760,680

 

WI Health & Educational Facilities Authority

 

 

 

 

 

Clement Manor,

 

 

 

 

 

Series 1998,

 

 

 

 

 

5.750% 08/15/24

 

1,300,000

 

1,316,367

 

Eastcastle Place, Inc.,

 

 

 

 

 

Series 2004,

 

 

 

 

 

6.125% 12/01/34

 

350,000

 

356,374

 

Three Pillars Senior Living Communities,

 

 

 

 

 

Series 2003,

 

 

 

 

 

5.750% 08/15/26

 

500,000

 

520,600

 

United Lutheran Program for the Aging,

 

 

 

 

 

Series 1998,

 

 

 

 

 

5.700% 03/01/28

 

1,000,000

 

1,006,570

 

Continuing Care Retirement Total

 

31,834,546

 

Health Services – 1.7%

 

 

 

 

 

CO Health Facilities Authority

 

 

 

 

 

National Jewish Medical & Research Center:

 

 

 

 

 

Series 1998,

 

 

 

 

 

5.375% 01/01/23

 

330,000

 

333,429

 

Series 1998 B,

 

 

 

 

 

5.375% 01/01/29

 

750,000

 

756,877

 

MA Development Finance Agency

 

 

 

 

 

Boston Biomedical Research Institute,

 

 

 

 

 

Series 1999:

 

 

 

 

 

5.650% 02/01/19

 

200,000

 

207,586

 

5.750% 02/01/29

 

450,000

 

466,812

 

MA Health & Educational Facilities Authority

 

 

 

 

 

Civic Investments, Inc.,

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

9.000% 12/15/15

 

1,000,000

 

1,238,090

 

MN Minneapolis & St. Paul Housing & Redevelopment Authority

 

 

 

 

 

Healthpartners Project,

 

 

 

 

 

Series 2003,

 

 

 

 

 

6.000% 12/01/21

 

500,000

 

548,185

 

Health Services Total

 

3,550,979

 

Hospitals – 17.7%

 

 

 

 

 

AR Conway Health Facilities Board

 

 

 

 

 

Conway Regional Medical Center:

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

6.400% 08/01/29

 

425,000

 

453,590

 

Series 1999 B,

 

 

 

 

 

6.400% 08/01/29

 

1,000,000

 

1,067,270

 

AR Washington County

 

 

 

 

 

Regional Medical Center,

 

 

 

 

 

 

5


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

Hospitals – (continued)

 

 

 

 

 

Series 2005 B,

 

 

 

 

 

5.000% 02/01/30

 

750,000

 

762,330

 

CA Turlock

 

 

 

 

 

Emanuel Medical Center, Inc.,

 

 

 

 

 

Series 2004,

 

 

 

 

 

5.375% 10/15/34

 

1,500,000

 

1,562,685

 

CO Health Facilities Authority

 

 

 

 

 

Parkview Medical Center, Inc.,

 

 

 

 

 

Series 2001,

 

 

 

 

 

6.600% 09/01/25

 

300,000

 

329,307

 

Vail Valley Medical Center,

 

 

 

 

 

Series 2004,

 

 

 

 

 

5.000% 01/15/20

 

750,000

 

779,595

 

FL South Lake County Hospital District

 

 

 

 

 

South Lake Hospital, Inc.,

 

 

 

 

 

Series 2003,

 

 

 

 

 

6.375% 10/01/34

 

500,000

 

549,720

 

FL Tampa

 

 

 

 

 

H. Lee Moffitt Cancer Center,

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

5.750% 07/01/29

 

2,000,000

 

2,079,500

 

FL West Orange Healthcare District

 

 

 

 

 

Series 2001 A,

 

 

 

 

 

5.650% 02/01/22

 

525,000

 

552,841

 

IL Health Facilities Authority

 

 

 

 

 

Thorek Hospital & Medical Center,

 

 

 

 

 

Series 1998,

 

 

 

 

 

5.250% 08/15/18

 

600,000

 

610,686

 

IL Southwestern Development Authority

 

 

 

 

 

Anderson Hospital,

 

 

 

 

 

Series 1999,

 

 

 

 

 

5.500% 08/15/20

 

225,000

 

231,995

 

IN Health & Educational Facility Financing Authority

 

 

 

 

 

Jackson County,

 

 

 

 

 

Schneck Memorial Hospital Project,

 

 

 

 

 

Series 2006 A,

 

 

 

 

 

5.250% 02/15/36

 

500,000

 

525,075

 

IN Health Facility Financing Authority

 

 

 

 

 

Community Foundation of Northwest Indiana, Inc.,

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

6.000% 03/01/34

 

575,000

 

612,708

 

KS Salina Hospital Revenue

 

 

 

 

 

Salina Regional Health Center Inc.,

 

 

 

 

 

Series 2005 A,

 

 

 

 

 

4.625% 10/01/31

 

600,000

 

596,892

 

LA Public Facilities Authority

 

 

 

 

 

Touro Infirmary,

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

5.625% 08/15/29

 

450,000

 

453,389

 

 

6


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

Hospitals – (continued)

 

 

 

 

 

MA Health & Educational Facilities Authority

 

 

 

 

 

Jordan Hospital,

 

 

 

 

 

Series 2003 E,

 

 

 

 

 

6.750% 10/01/33

 

500,000

 

548,195

 

Milford Whitinsville Regional Hospital,

 

 

 

 

 

Series 2002 D,

 

 

 

 

 

6.350% 07/15/32

 

1,000,000

 

1,065,290

 

MD Health & Higher Educational Facilities Authority

 

 

 

 

 

Adventist Healthcare,

 

 

 

 

 

Series 2003 A:

 

 

 

 

 

5.000% 01/01/16

 

400,000

 

413,108

 

5.750% 01/01/25

 

600,000

 

643,362

 

MI Dickinson County

 

 

 

 

 

Series 1999,

 

 

 

 

 

5.700% 11/01/18

 

750,000

 

774,045

 

MN St. Paul Housing & Redevelopment Authority

 

 

 

 

 

HealthEast, Inc.,

 

 

 

 

 

Series 2001 A,

 

 

 

 

 

5.700% 11/01/15

 

1,000,000

 

1,031,920

 

MN Washington County Housing & Redevelopment Authority

 

 

 

 

 

HealthEast, Inc.,

 

 

 

 

 

Series 1998,

 

 

 

 

 

5.250% 11/15/12

 

1,300,000

 

1,332,656

 

MO Saline County Industrial Development Authority

 

 

 

 

 

John Fitzgibbon Memorial Hospital,

 

 

 

 

 

Series 2005,

 

 

 

 

 

5.625% 12/01/35

 

1,250,000

 

1,264,012

 

NC Medical Care Commission

 

 

 

 

 

Stanly Memorial Hospital,

 

 

 

 

 

Series 1999,

 

 

 

 

 

6.375% 10/01/29

 

1,915,000

 

2,035,051

 

NH Health & Education Facilities Authority

 

 

 

 

 

Memorial Hospital at North Conway,

 

 

 

 

 

Series 2006,

 

 

 

 

 

5.250% 06/01/36

 

800,000

 

813,984

 

NH Higher Educational & Health Facilities Authority

 

 

 

 

 

Catholic Medical Center,

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

6.125% 07/01/32

 

50,000

 

53,950

 

Littleton Hospital Association, Inc.:

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

6.000% 05/01/28

 

625,000

 

644,319

 

Series 1998 B,

 

 

 

 

 

5.900% 05/01/28

 

780,000

 

801,544

 

NJ Health Care Facilities Financing Authority

 

 

 

 

 

Capital Health Systems, Inc.,

 

 

 

 

 

 

7


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

Hospitals – (continued)

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

5.750% 07/01/23

 

650,000

 

697,690

 

NV Henderson

 

 

 

 

 

St. Rose Dominican Hospital,

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

5.375% 07/01/26

 

385,000

 

394,013

 

NY Dormitory Authority

 

 

 

 

 

Mt. Sinai Hospital– NYU Medical Center:

 

 

 

 

 

Series 2000,

 

 

 

 

 

5.500% 07/01/26

 

400,000

 

406,884

 

Series 2000 C,

 

 

 

 

 

5.500% 07/01/26

 

850,000

 

864,628

 

North Shore – Long Island Jewish Medical Center,

 

 

 

 

 

Series 2003,

 

 

 

 

 

5.500% 05/01/33

 

300,000

 

319,404

 

OH Highland County Joint Township Hospital District

 

 

 

 

 

Series 1999,

 

 

 

 

 

6.750% 12/01/29

 

920,000

 

942,761

 

OH Lakewood

 

 

 

 

 

Lakewood Hospital Association,

 

 

 

 

 

Series 2003,

 

 

 

 

 

5.500% 02/15/14

 

600,000

 

642,222

 

OH Miami County Hospital Facilities Authority

 

 

 

 

 

Upper Valley Medical Center, Inc.,

 

 

 

 

 

Series 2006,

 

 

 

 

 

5.250% 05/15/18

 

450,000

 

477,000

 

OH Sandusky County

 

 

 

 

 

Memorial Hospital,

 

 

 

 

 

Series 1998,

 

 

 

 

 

5.150% 01/01/10

 

250,000

 

251,960

 

PA Allegheny County Hospital Development Authority

 

 

 

 

 

Ohio Valley General Hospital,

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

5.450% 01/01/28

 

1,000,000

 

1,020,160

 

SC Jobs Economic Development Authority

 

 

 

 

 

Bon Secours-St. Francis Medical Center,

 

 

 

 

 

Series 2002,

 

 

 

 

 

5.500% 11/15/23

 

1,750,000

 

1,855,367

 

SC Lexington County Health Services District Revenue

 

 

 

 

 

Lexington Medical Center,

 

 

 

 

 

Series 2003,

 

 

 

 

 

5.500% 11/01/23

 

750,000

 

793,575

 

SD Health & Educational Facilities Authority

 

 

 

 

 

Sioux Valley Hospital & Health System,

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

5.250% 11/01/34

 

800,000

 

834,080

 

 

8


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

Hospitals – (continued)

 

 

 

 

 

TX Tyler Health Facilities Development Corp.

 

 

 

 

 

Mother Frances Hospital,

 

 

 

 

 

Series 2001,

 

 

 

 

 

6.000% 07/01/31

 

1,000,000

 

1,061,920

 

VT Educational & Health Buildings Finance Agency

 

 

 

 

 

Brattleboro Memorial Hospital,

 

 

 

 

 

Series 1998,

 

 

 

 

 

5.375% 03/01/28

 

1,075,000

 

1,078,064

 

WA Health Care Facilities Authority

 

 

 

 

 

Fort HealthCare, Inc., Project,

 

 

 

 

 

Series 2004,

 

 

 

 

 

5.750% 05/01/29

 

1,000,000

 

1,081,570

 

WI Health & Educational Facilities Authority

 

 

 

 

 

Aurora Health Care, Inc.,

 

 

 

 

 

Series 2003,

 

 

 

 

 

6.400% 04/15/33

 

525,000

 

581,926

 

Wheaton Franciscan Services,

 

 

 

 

 

Series 2002,

 

 

 

 

 

5.750% 08/15/30

 

600,000

 

643,326

 

Hospitals Total

 

36,535,569

 

Intermediate Care Facilities – 0.6%

 

 

 

 

 

IL Development Finance Authority

 

 

 

 

 

Hoosier Care, Inc.,

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

7.125% 06/01/34

 

1,175,000

 

1,190,921

 

IN Health Facilities Financing Authority

 

 

 

 

 

Hoosier Care, Inc.,

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

7.125% 06/01/34

 

150,000

 

152,033

 

Intermediate Care Facilities Total

 

1,342,954

 

Nursing Homes – 6.8%

 

 

 

 

 

AK Juneau

 

 

 

 

 

St. Ann’s Care Center, Inc.,

 

 

 

 

 

Series 1999,

 

 

 

 

 

6.875% 12/01/25

 

1,215,000

 

1,215,741

 

CO Health Facilities Authority

 

 

 

 

 

American Housing Foundation I, Inc.,

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

8.500% 12/01/31

 

460,000

 

488,998

 

Evangelical Lutheran Good Samaritan Foundation,

 

 

 

 

 

Series 2005,

 

 

 

 

 

5.000% 06/01/35

 

375,000

 

381,139

 

Pioneer Health Care,

 

 

 

 

 

Series 1989,

 

 

 

 

 

10.500% 05/01/19

 

1,730,000

 

1,405,417

 

Volunteers of America Care Facilities:

 

 

 

 

 

Series 1998 A:

 

 

 

 

 

5.450% 07/01/08

 

75,000

 

75,033

 

5.750% 07/01/20

 

865,000

 

885,994

 

 

9


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

HEALTH CARE – (continued)

 

 

 

 

 

Nursing Homes – (continued)

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

6.000% 07/01/29

 

350,000

 

356,941

 

IA Finance Authority

 

 

 

 

 

Care Initiatives,

 

 

 

 

 

Series 1998 B:

 

 

 

 

 

5.750% 07/01/18

 

550,000

 

565,483

 

5.750% 07/01/28

 

1,475,000

 

1,483,643

 

MA Development Finance Agency

 

 

 

 

 

AHF/Woodlawn Manor, Inc.:

 

 

 

 

 

Series 2000 A,

 

 

 

 

 

7.750% 12/01/27(d)

 

1,509,135

 

603,654

 

Series 2000 B,

 

 

 

 

 

10.250% 06/01/27(d)

 

475,907

 

23,795

 

Alliance Health Care Facilities,

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

7.100% 07/01/32

 

1,250,000

 

1,276,288

 

MN Sartell

 

 

 

 

 

Foundation for Health Care,

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

6.625% 09/01/29

 

1,145,000

 

1,179,980

 

PA Chester County Industrial Development Authority

 

 

 

 

 

Pennsylvania Nursing Home,

 

 

 

 

 

Series 2002,

 

 

 

 

 

8.500% 05/01/32

 

1,560,000

 

1,624,537

 

PA Washington County Industrial Development Authority

 

 

 

 

 

AHF Project,

 

 

 

 

 

Series 2003,

 

 

 

 

 

7.750% 01/01/29

 

1,211,000

 

1,263,352

 

TN Metropolitan Government Nashville & Davidson County Health & Education Board

 

 

 

 

 

AHF Project,

 

 

 

 

 

Series 2003,

 

 

 

 

 

7.750% 01/01/29

 

1,141,000

 

1,190,325

 

Nursing Homes Total

 

14,020,320

 

HEALTH CARE TOTAL

 

87,284,368

 

HOUSING – 17.4%

 

 

 

 

 

Assisted Living/Senior – 3.1%

 

 

 

 

 

DE Kent County

 

 

 

 

 

Heritage at Dover,

 

 

 

 

 

Series 1999, AMT,

 

 

 

 

 

7.625% 01/01/30

 

1,640,000

 

1,501,830

 

GA Columbus Housing Authority

 

 

 

 

 

The Gardens at Calvary,

 

 

 

 

 

Series 1999,

 

 

 

 

 

7.000% 11/15/19

 

480,000

 

471,845

 

MN Roseville

 

 

 

 

 

 

10


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

HOUSING – (continued)

 

 

 

 

 

Assisted Living/Senior – (continued)

 

 

 

 

 

Care Institute, Inc.,

 

 

 

 

 

Series 1993,

 

 

 

 

 

7.750% 11/01/23

 

1,740,000

 

1,487,839

 

NC Medical Care Commission

 

 

 

 

 

DePaul Community Facilities, Inc.,

 

 

 

 

 

Series 1999,

 

 

 

 

 

7.625% 11/01/29

 

1,425,000

 

1,497,490

 

NY Huntington Housing Authority

 

 

 

 

 

Gurwin Jewish Senior Center,

 

 

 

 

 

Series 1999 A:

 

 

 

 

 

5.875% 05/01/19

 

700,000

 

717,500

 

6.000% 05/01/29

 

775,000

 

796,398

 

Assisted Living/Senior Total

 

6,472,902

 

Multi-Family – 9.2%

 

 

 

 

 

DC Housing Finance Agency

 

 

 

 

 

Henson Ridge,

 

 

 

 

 

Series 2004 E, AMT,

 

 

 

 

 

Insured: FHA

 

 

 

 

 

5.100% 06/01/37

 

1,000,000

 

1,022,360

 

DE Wilmington

 

 

 

 

 

Electra Arms Senior Association,

 

 

 

 

 

Series 1998, AMT,

 

 

 

 

 

6.250% 06/01/28

 

890,000

 

873,134

 

FL Broward County Housing Finance Authority

 

 

 

 

 

Chaves Lake Apartments Ltd.,

 

 

 

 

 

Series 2000 A, AMT,

 

 

 

 

 

7.500% 07/01/40

 

750,000

 

778,005

 

FL Capital Trust Agency

 

 

 

 

 

Atlantic Housing Foundation, Inc.,

 

 

 

 

 

Series 2005 C,

 

 

 

 

 

5.875% 01/01/28

 

775,000

 

781,177

 

FL Clay County Housing Finance Authority

 

 

 

 

 

Breckenridge Commons Ltd.,

 

 

 

 

 

Series 2000 A, AMT,

 

 

 

 

 

7.450% 07/01/40

 

720,000

 

745,877

 

MA Housing Finance Agency

 

 

 

 

 

Series 2004 A, AMT,

 

 

 

 

 

Insured: FSA

 

 

 

 

 

5.250% 07/01/25

 

3,000,000

 

3,098,820

 

Series 2005 E, AMT,

 

 

 

 

 

5.000% 12/01/28

 

500,000

 

507,085

 

MN Minneapolis Student Housing

 

 

 

 

 

Riverton Community Housing, Inc.,

 

 

 

 

 

Series 2006 A,

 

 

 

 

 

5.700% 08/01/40

 

750,000

 

748,080

 

MN Washington County Housing & Redevelopment Authority

 

 

 

 

 

Cottages of Aspen,

 

 

 

 

 

Series 1992, AMT,

 

 

 

 

 

9.250% 06/01/22

 

940,000

 

960,088

 

 

11


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

HOUSING – (continued)

 

 

 

 

 

Multi-Family – (continued)

 

 

 

 

 

MN White Bear Lake

 

 

 

 

 

Birch Lake Townhome:

 

 

 

 

 

Series 1989 A, AMT,

 

 

 

 

 

10.250% 07/15/19

 

2,200,000

 

2,086,700

 

Series 1989 B, AMT,

 

 

 

 

 

(a) 07/15/19

 

688,000

 

206,400

 

NC Medical Care Commission

 

 

 

 

 

ARC Project,

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

5.800% 10/01/34

 

750,000

 

796,148

 

NM Mortgage Finance Authority

 

 

 

 

 

Series 2005 E, AMT,

 

 

 

 

 

Insured: FHA

 

 

 

 

 

4.800% 09/01/40

 

1,250,000

 

1,231,237

 

NY New York City Housing Development Corp.

 

 

 

 

 

Series 2005 F-1,

 

 

 

 

 

4.650% 11/01/25

 

1,000,000

 

1,017,130

 

OH Montgomery County

 

 

 

 

 

Heartland of Centerville, LLC.,

 

 

 

 

 

Series 2005, AMT,

 

 

 

 

 

Insured: FHLMC

 

 

 

 

 

4.950% 11/01/35(e)

 

500,000

 

505,475

 

Resolution Trust Corp.

 

 

 

 

 

Pass-Through Certificates,

 

 

 

 

 

Series 1993 A,

 

 

 

 

 

8.500% 12/01/16(f)

 

546,075

 

538,118

 

TN Franklin Industrial Development Board

 

 

 

 

 

Landings Apartment Project,

 

 

 

 

 

Series 1996 B,

 

 

 

 

 

8.750% 04/01/27

 

800,000

 

811,760

 

TX Department of Housing & Community Affairs

 

 

 

 

 

Pebble Brooks Apartments,

 

 

 

 

 

Series 1998, AMT,

 

 

 

 

 

Guarantor: FNMA

 

 

 

 

 

5.500% 12/01/18

 

1,000,000

 

1,032,360

 

TX El Paso County Housing Finance Corp.

 

 

 

 

 

American Village Communities:

 

 

 

 

 

Series 2000 C,

 

 

 

 

 

8.000% 12/01/32

 

375,000

 

385,654

 

Series 2000 D,

 

 

 

 

 

10.000% 12/01/32

 

405,000

 

418,608

 

WA Seattle Housing Authority

 

 

 

 

 

High Rise Rehabilitation Phase I LP,

 

 

 

 

 

Series 2005, AMT,

 

 

 

 

 

Insured: FSA

 

 

 

 

 

5.000% 11/01/25

 

500,000

 

507,685

 

Multi-Family Total

 

19,051,901

 

 

12


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

HOUSING – (continued)

 

 

 

 

 

Single-Family – 5.1%

 

 

 

 

 

MA Housing Finance Agency

 

 

 

 

 

Series 2005 118, AMT,

 

 

 

 

 

4.850% 12/01/35(e)

 

1,750,000

 

1,728,842

 

Series 2005 B,

 

 

 

 

 

5.000% 06/01/30

 

500,000

 

515,840

 

ME Housing Authority

 

 

 

 

 

Series 2005 D-2, AMT,

 

 

 

 

 

4.800% 11/15/36

 

1,000,000

 

996,290

 

MN Minneapolis/St. Paul Housing Finance Board

 

 

 

 

 

Series 2006, AMT,

 

 

 

 

 

Insured: GNMA

 

 

 

 

 

5.000% 12/01/38(c)

 

1,000,000

 

1,012,320

 

ND Housing Finance Agency

 

 

 

 

 

Series 2006 A, AMT,

 

 

 

 

 

4.850% 07/01/21(c)

 

1,240,000

 

1,261,911

 

OK Housing Finance Agency

 

 

 

 

 

Series 2006 C, AMT

 

 

 

 

 

5.000% 09/01/26(c)

 

1,420,000

 

1,445,759

 

PA Pittsburgh Urban Redevelopment Authority

 

 

 

 

 

Series 2006 C,

 

 

 

 

 

Insured: GNMA

 

 

 

 

 

4.800% 04/01/28

 

2,000,000

 

2,008,700

 

WI Housing & Economic Development Authority

 

 

 

 

 

Series 2005 C, AMT,

 

 

 

 

 

4.875% 03/01/36

 

1,480,000

 

1,481,746

 

Single-Family Total

 

10,451,408

 

HOUSING TOTAL

 

35,976,211

 

INDUSTRIALS – 6.6%

 

 

 

 

 

Food Products – 1.6%

 

 

 

 

 

GA Cartersville Development Authority

 

 

 

 

 

Anheuser Busch Project, Inc.,

 

 

 

 

 

Series 2002, AMT,

 

 

 

 

 

5.950% 02/01/32

 

1,000,000

 

1,081,940

 

LA Southern Louisiana Port Commission

 

 

 

 

 

Cargill, Inc.,

 

 

 

 

 

Series 1997,

 

 

 

 

 

5.850% 04/01/17

 

1,000,000

 

1,024,350

 

MI Strategic Fund

 

 

 

 

 

Imperial Holly Corp.,

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

6.250% 11/01/15

 

1,250,000

 

1,283,488

 

Food Products Total

 

3,389,778

 

Forest Products & Paper – 2.8%

 

 

 

 

 

AL Camden Industrial Development Board

 

 

 

 

 

Weyerhaeuser Co.,

 

 

 

 

 

 

13


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

INDUSTRIALS – (continued)

 

 

 

 

 

Forest Products & Paper – (continued)

 

 

 

 

 

Series 2003 B, AMT,

 

 

 

 

 

6.375% 12/01/24

 

550,000

 

600,001

 

AL Courtland Industrial Development Board

 

 

 

 

 

Series 2003 B, AMT,

 

 

 

 

 

6.250% 08/01/25

 

1,000,000

 

1,089,960

 

AL Phenix City Industrial Development Board

 

 

 

 

 

Meadwestvaco Corp.,

 

 

 

 

 

Series 2002 A, AMT,

 

 

 

 

 

6.350% 05/15/35

 

550,000

 

590,414

 

AR Camden Environmental Improvement Authority

 

 

 

 

 

International Paper Co.,

 

 

 

 

 

Series 2004 A, AMT,

 

 

 

 

 

5.000% 11/01/18

 

250,000

 

254,513

 

GA Rockdale County Development Authority

 

 

 

 

 

Visy Paper, Inc.,

 

 

 

 

 

Series 1993, AMT,

 

 

 

 

 

7.500% 01/01/26

 

1,800,000

 

1,805,688

 

MS Lowndes County

 

 

 

 

 

Weyerhaeuser Co. Project,

 

 

 

 

 

Series 1992 B,

 

 

 

 

 

6.700% 04/01/22

 

850,000

 

1,010,709

 

VA Bedford County Industrial Development Authority

 

 

 

 

 

Nekoosa Packaging Corp.,

 

 

 

 

 

Series 1998, AMT,

 

 

 

 

 

5.600% 12/01/25

 

400,000

 

404,412

 

Forest Products & Paper Total

 

5,755,697

 

Manufacturing – 0.4%

 

 

 

 

 

IL Will-Kankakee Regional Development Authority

 

 

 

 

 

Flanders Corp. Precisionaire Project,

 

 

 

 

 

Series 1997, AMT,

 

 

 

 

 

6.500% 12/15/17

 

740,000

 

750,441

 

Manufacturing Total

 

750,441

 

Metals & Mining – 0.6%

 

 

 

 

 

NV Department of Business & Industry

 

 

 

 

 

Wheeling-Pittsburgh Steel Corp.,

 

 

 

 

 

Series 1999 A, AMT,

 

 

 

 

 

8.000% 09/01/14

 

835,000

 

866,120

 

VA Greensville County Industrial Development Authority

 

 

 

 

 

Wheeling-Pittsburgh Steel Corp.,

 

 

 

 

 

Series 1999 A, AMT,

 

 

 

 

 

7.000% 04/01/14

 

425,000

 

422,922

 

Metals & Mining Total

 

1,289,042

 

 

14


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

INDUSTRIALS – (continued)

 

 

 

 

 

Oil & Gas – 1.2%

 

 

 

 

 

NJ Middlesex County Pollution Control Authority

 

 

 

 

 

Amerada Hess Corp.,

 

 

 

 

 

Series 2004,

 

 

 

 

 

6.050% 09/15/34

 

285,000

 

311,035

 

TX Gulf Coast Industrial Development Authority

 

 

 

 

 

Citgo Petroleum,

 

 

 

 

 

Series 1998, AMT,

 

 

 

 

 

8.000% 04/01/28

 

500,000

 

566,960

 

VI Virgin Islands Public Finance Authority

 

 

 

 

 

Hovensa LLC:

 

 

 

 

 

Series 2003, AMT,

 

 

 

 

 

6.125% 07/01/22

 

525,000

 

578,093

 

Series 2004, AMT,

 

 

 

 

 

5.875% 07/01/22

 

600,000

 

654,120

 

VI Virgin Islands

 

 

 

 

 

Hovensa LLC,

 

 

 

 

 

Series 2002, AMT,

 

 

 

 

 

6.500% 07/01/21

 

375,000

 

421,946

 

Oil & Gas Total

 

2,532,154

 

INDUSTRIALS TOTAL

 

13,717,112

 

OTHER – 22.5%

 

 

 

 

 

Other – 0.4%

 

 

 

 

 

PR Commonwealth of Puerto Rico Government Development Bank

 

 

 

 

 

Series 2006 B,

 

 

 

 

 

5.000% 12/01/15

 

700,000

 

747,103

 

Other Total

 

747,103

 

Other Industrial Development Bonds – 0.7%

 

 

 

 

 

NJ Economic Development Authority

 

 

 

 

 

GMT Realty LLC,

 

 

 

 

 

Series 2006 B, AMT,

 

 

 

 

 

6.875% 01/01/37(c)

 

1,500,000

 

1,510,410

 

Other Industrial Development Bonds Total

 

1,510,410

 

Pool/Bond Bank – 0.8%

 

 

 

 

 

MI Municipal Bond Authority

 

 

 

 

 

Local Government Loan,

 

 

 

 

 

Series 2001 A,

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

5.375% 11/01/17

 

750,000

 

804,285

 

OH Cleveland – Cuyahoga County Port Authority

 

 

 

 

 

Columbia National Group, Inc,

 

 

 

 

 

Seires 2005 D, AMT,

 

 

 

 

 

5.000% 05/15/20

 

820,000

 

819,615

 

Pool/Bond Bank Total

 

1,623,900

 

 

15


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

OTHER – (continued)

 

 

 

 

 

Refunded/Escrowed(g) – 17.4%

 

 

 

 

 

CA ABAG Finance Authority for Nonprofit Corps.

 

 

 

 

 

Eskaton Gold River Lodge,

 

 

 

 

 

Series 1998,

 

 

 

 

 

Pre-refunded 11/15/08:

 

 

 

 

 

6.375% 11/15/15

 

620,000

 

652,314

 

6.375% 11/15/28

 

550,000

 

592,213

 

CA Golden State Tobacco Securitization Corp.

 

 

 

 

 

Series 2003 B,

 

 

 

 

 

Pre-refunded 06/01/13:

 

 

 

 

 

5.500% 06/01/43

 

750,000

 

828,525

 

Insured: AMBAC

 

 

 

 

 

5.000% 06/01/43

 

3,500,000

 

3,762,885

 

CA Orange County Community Facilities District

 

 

 

 

 

Ladera Ranch

 

 

 

 

 

Series 1999 1,

 

 

 

 

 

Pre-refunded 08/15/09

 

 

 

 

 

6.700% 08/15/29

 

500,000

 

552,335

 

CA Riverside County Public Financing Authority

 

 

 

 

 

Series 1997 A,

 

 

 

 

 

Pre-refunded 10/01/06:

 

 

 

 

 

5.500% 10/01/22

 

530,000

 

541,448

 

CA Statewide Communities Development Authority

 

 

 

 

 

Eskaton Village - Grass Valley,

 

 

 

 

 

Series 2000,

 

 

 

 

 

Pre-refunded 11/15/10,

 

 

 

 

 

8.250% 11/15/31

 

985,000

 

1,155,178

 

CO Denver City & County Airport

 

 

 

 

 

Series 1992 C, AMT:

 

 

 

 

 

Escrowed to Maturity,

 

 

 

 

 

6.125% 11/15/25

 

2,280,000

 

2,743,000

 

Pre-refunded 03/03/05,

 

 

 

 

 

6.125% 11/15/25

 

2,840,000

 

2,845,850

 

CO E-470 Public Highway Authority

 

 

 

 

 

Series 2000 B,

 

 

 

 

 

Pre-refunded 09/01/10,

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

(a) 09/01/35

 

8,750,000

 

1,148,175

 

CT Development Authority Sewer Sludge Disposal Facilities

 

 

 

 

 

New Haven Residuals LP,

 

 

 

 

 

Series 1996, AMT,

 

 

 

 

 

Escrowed to Maturity,

 

 

 

 

 

8.250% 12/01/06

 

200,000

 

202,126

 

FL Northern Palm Beach County Improvement District

 

 

 

 

 

Series 1999,

 

 

 

 

 

 

16


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

OTHER – (continued)

 

 

 

 

 

Refunded/Escrowed(g) – (continued)

 

 

 

 

 

Pre-refunded 08/01/09,

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

6.000% 08/01/29

 

750,000

 

806,512

 

FL Orange County Health Facilities Authority

 

 

 

 

 

Orlando Regional Healthcare System,

 

 

 

 

 

Series 2002,

 

 

 

 

 

Pre-refunded 12/01/12,

 

 

 

 

 

5.750% 12/01/32

 

200,000

 

221,656

 

GA Forsyth County Hospital Authority

 

 

 

 

 

Georgia Baptist Health Care System,

 

 

 

 

 

Series 1998,

 

 

 

 

 

Escrowed to Maturity,

 

 

 

 

 

6.000% 10/01/08

 

480,000

 

491,294

 

IA Finance Authority

 

 

 

 

 

Care Initiatives,

 

 

 

 

 

Series 1996,

 

 

 

 

 

Pre-refunded 07/01/11,

 

 

 

 

 

9.250% 07/01/25

 

935,000

 

1,168,526

 

ID Health Facilities Authority

 

 

 

 

 

IHC Hospitals, Inc.,

 

 

 

 

 

Series 1992,

 

 

 

 

 

Escrowed to Maturity,

 

 

 

 

 

6.650% 02/15/21

 

1,750,000

 

2,229,482

 

IL Development Finance Authority

 

 

 

 

 

Latin School of Chicago,

 

 

 

 

 

Series 1998,

 

 

 

 

 

Pre-refunded 08/01/08,

 

 

 

 

 

5.650% 08/01/28

 

230,000

 

238,045

 

IL Health Facilities Authority

 

 

 

 

 

Lutheran Senior Ministries,

 

 

 

 

 

Series 2001 A,

 

 

 

 

 

Pre-refunded 08/15/11,

 

 

 

 

 

7.375% 08/15/31

 

900,000

 

1,054,719

 

Swedish American Hospital,

 

 

 

 

 

Series 2000,

 

 

 

 

 

Pre-refunded 05/15/10,

 

 

 

 

 

6.875% 11/15/30

 

500,000

 

552,940

 

IL University of Illinois

 

 

 

 

 

Series 2001 A,

 

 

 

 

 

Pre-refunded 08/15/11,

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

5.500% 08/15/17

 

685,000

 

742,609

 

MA Development Finance Agency

 

 

 

 

 

Western New England College,

 

 

 

 

 

Series 2002,

 

 

 

 

 

Pre-refunded 12/01/12,

 

 

 

 

 

6.125% 12/01/32

 

300,000

 

341,601

 

MN Robbinsdale Economic Development Authority

 

 

 

 

 

Series 1999 A,

 

 

 

 

 

6.875% 01/01/26

 

500,000

 

549,290

 

NC Lincoln County

 

 

 

 

 

Lincoln County Hospital,

 

 

 

 

 

Series 1991,

 

 

 

 

 

 

17


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

OTHER – (continued)

 

 

 

 

 

Refunded/Escrowed(g) – (continued)

 

 

 

 

 

Escrowed to Maturity,

 

 

 

 

 

9.000% 05/01/07

 

65,000

 

67,183

 

NH Higher Educational & Health Facilities Authority,

 

 

 

 

 

Catholic Medical Center,

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

Pre-refunded 7/01/12,

 

 

 

 

 

6.125% 07/01/32

 

350,000

 

394,223

 

NM Red River Sports Facility

 

 

 

 

 

Red River Ski Area,

 

 

 

 

 

Series 1998,

 

 

 

 

 

6.450% 06/01/07

 

215,000

 

215,144

 

NV Henderson

 

 

 

 

 

St. Rose Dominican Hospital,

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

Pre-refunded 07/01/08,

 

 

 

 

 

5.375% 07/01/26

 

115,000

 

118,955

 

NY Convention Center Operating Corp.

 

 

 

 

 

Yale Building Project,

 

 

 

 

 

Series 2003,

 

 

 

 

 

Escrowed to Maturity,

 

 

 

 

 

(a) 06/01/08

 

1,700,000

 

1,593,801

 

NY New York City

 

 

 

 

 

Series 1997 H,

 

 

 

 

 

Pre-refunded: 08/01/07,

 

 

 

 

 

6.000% 08/01/17

 

915,000

 

944,683

 

PA Delaware County Authority

 

 

 

 

 

Mercy Health Corp.,

 

 

 

 

 

Series 1996,

 

 

 

 

 

Escrowed to Maturity:

 

 

 

 

 

6.000% 12/15/16

 

1,400,000

 

1,437,380

 

6.000% 12/15/26

 

1,000,000

 

1,026,790

 

PA Lancaster Industrial Development Authority

 

 

 

 

 

Garden Spot Village,

 

 

 

 

 

Series 2000 A,

 

 

 

 

 

Pre-refunded 05/01/10,

 

 

 

 

 

7.625% 05/01/31

 

500,000

 

571,000

 

PA Philadelphia Authority for Industrial Development

 

 

 

 

 

Doubletree Project,

 

 

 

 

 

Series 1997 A,

 

 

 

 

 

Pre-refunded 02/01/07,

 

 

 

 

 

6.500% 10/01/27

 

1,000,000

 

1,031,010

 

PR Commonwealth of Puerto Rico Public Finance Corp.

 

 

 

 

 

Series 2002 E,

 

 

 

 

 

Escrowed to Maturity,

 

 

 

 

 

6.000% 08/01/26

 

155,000

 

192,375

 

TN Shelby County Health, Educational & Housing Facilities Board

 

 

 

 

 

Open Arms Development Centers:

 

 

 

 

 

 

18


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

OTHER – (continued)

 

 

 

 

 

Refunded/Escrowed(g) – (continued)

 

 

 

 

 

Series 1992 A,

 

 

 

 

 

Pre-refunded 08/01/07,

 

 

 

 

 

9.750% 08/01/19

 

750,000

 

824,415

 

Series 1992 C,

 

 

 

 

 

Pre-refunded 08/01/12,

 

 

 

 

 

9.750% 08/01/19

 

730,000

 

802,431

 

TX Board of Regents

 

 

 

 

 

University of Texas,

 

 

 

 

 

Series 2001 B,

 

 

 

 

 

Escrowed to Maturity,

 

 

 

 

 

5.375% 08/15/18

 

650,000

 

698,263

 

WA Health Care Facilities Authority

 

 

 

 

 

Kadlec Medical Center,

 

 

 

 

 

Series 2001,

 

 

 

 

 

Pre-refunded 12/01/10,Insured: RAD

 

 

 

 

 

5.875% 12/01/21

 

600,000

 

652,398

 

WI Health & Educational Facilities Authority

 

 

 

 

 

Attic Angel Obligated Group,

 

 

 

 

 

Series 1998,

 

 

 

 

 

Pre-refunded 11/17/08,

 

 

 

 

 

5.750% 11/15/27

 

1,000,000

 

1,058,790

 

WV Hospital Finance Authority

 

 

 

 

 

Charleston Area Medical Center,

 

 

 

 

 

Series 2000,

 

 

 

 

 

Pre-refunded 09/01/10,

 

 

 

 

 

6.750% 09/01/30

 

805,000

 

904,385

 

Refunded/Escrowed Total

 

35,738,805

 

Tobacco – 3.2%

 

 

 

 

 

CA County Tobacco Securitization Agency

 

 

 

 

 

Series 2006,

 

 

 

 

 

(a) 06/01/46

 

6,500,000

 

490,815

 

CA Golden State Tobacco Securitization Corp.

 

 

 

 

 

Series 2003 A-1,

 

 

 

 

 

6.250% 06/01/33

 

1,800,000

 

1,974,330

 

CA Tobacco Securitization Authority

 

 

 

 

 

Series 2006,

 

 

 

 

 

06/01/46

 

8,520,000

 

761,262

 

NJ Tobacco Settlement Financing Corp.

 

 

 

 

 

Series 2003,

 

 

 

 

 

6.750% 06/01/39

 

1,500,000

 

1,682,865

 

NY Nassau County Tobacco Settlement Corp.

 

 

 

 

 

Series 2006,

 

 

 

 

 

(a) 06/01/60

 

15,000,000

 

513,750

 

NY Tsasc, Inc.

 

 

 

 

 

Series 2006 1,

 

 

 

 

 

5.125% 06/01/42

 

1,000,000

 

1,006,020

 

WA Tobacco Settlement Authority

 

 

 

 

 

Series 2002,

 

 

 

 

 

 

19


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

OTHER – (continued)

 

 

 

 

 

Tobacco – (continued)

 

 

 

 

 

6.625% 06/01/32

 

250,000

 

275,035

 

Tobacco Total

 

6,704,077

 

OTHER TOTAL

 

46,539,439

 

OTHER REVENUE – 4.0%

 

 

 

 

 

Hotels – 1.0%

 

 

 

 

 

NJ Middlesex County Improvement Authority

 

 

 

 

 

Heldrich Associates LLC:

 

 

 

 

 

Series 2005 B,

 

 

 

 

 

6.250% 01/01/37

 

1,250,000

 

1,284,287

 

Series 2005 C,

 

 

 

 

 

8.750% 01/01/37

 

900,000

 

905,040

 

Hotels Total

 

2,189,327

 

Recreation – 2.2%

 

 

 

 

 

CA Agua Caliente Band of Cahuilla Indians

 

 

 

 

 

Series 2003,

 

 

 

 

 

5.600% 07/01/13

 

1,000,000

 

1,038,100

 

CA Cabazon Band Mission Indians

 

 

 

 

 

Series 2004:

 

 

 

 

 

8.375% 10/01/15(f)

 

260,000

 

266,708

 

8.750% 10/01/19(f)

 

895,000

 

922,002

 

CT Mashantucket Western Pequot

 

 

 

 

 

Series 1999 B,

 

 

 

 

 

(a) 09/01/16(f)

 

1,000,000

 

601,230

 

CT Mohegan Tribe Gaming Authority

 

 

 

 

 

Series 2001,

 

 

 

 

 

6.250% 01/01/31(f)

 

275,000

 

292,584

 

NY Liberty Development Corp.

 

 

 

 

 

National Sports Museum,

 

 

 

 

 

Series 2006 A,

 

 

 

 

 

6.125% 02/15/19

 

600,000

 

618,642

 

OR Cow Creek Band Umpqua Tribe of Indians

 

 

 

 

 

Series 2006 C,

 

 

 

 

 

5.625% 10/01/26(f)

 

800,000

 

810,896

 

Recreation Total

 

4,550,162

 

Retail – 0.8%

 

 

 

 

 

NY New York City Industrial Development Agency

 

 

 

 

 

IAC/Interactive Corp.,

 

 

 

 

 

Series 2005,

 

 

 

 

 

 

20


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

OTHER REVENUE – (continued)

 

 

 

 

 

Retail – (continued)

 

 

 

 

 

5.000% 09/01/35

 

1,000,000

 

1,013,020

 

OH Lake County

 

 

 

 

 

North Madison Properties,

 

 

 

 

 

Series 1993,

 

 

 

 

 

8.819% 09/01/11

 

580,000

 

588,398

 

Retail Total

 

1,601,418

 

OTHER REVENUE TOTAL

 

8,340,907

 

RESOURCE RECOVERY – 2.6%

 

 

 

 

 

Disposal – 1.0%

 

 

 

 

 

CA Pollution Control Financing Authority

 

 

 

 

 

Republic Services,

 

 

 

 

 

Series 2002 C, AMT,

 

 

 

 

 

5.250% 06/01/23(e)

 

500,000

 

531,875

 

FL Lee County Solid Waste Systems

 

 

 

 

 

Series 2006 A, AMT,

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

5.000% 10/01/17

 

600,000

 

641,142

 

UT Carbon County

 

 

 

 

 

Laidlaw Environmental:

 

 

 

 

 

Series 1995 A, AMT,

 

 

 

 

 

7.500% 02/01/10

 

250,000

 

252,202

 

Series 1997 A, AMT,

 

 

 

 

 

7.450% 07/01/17

 

500,000

 

521,290

 

Disposal Total

 

1,946,509

 

Resource Recovery – 1.6%

 

 

 

 

 

MA Development Finance Agency

 

 

 

 

 

Ogden Haverhill Associates,

 

 

 

 

 

Series 1999 A, AMT,

 

 

 

 

 

6.700% 12/01/14

 

250,000

 

269,340

 

MA Industrial Finance Agency

 

 

 

 

 

Ogden Haverhill Associates,

 

 

 

 

 

Series 1998 A, AMT:

 

 

 

 

 

5.500% 12/01/13

 

500,000

 

519,500

 

5.600% 12/01/19

 

500,000

 

515,500

 

PA Delaware County Industrial Development Authority

 

 

 

 

 

American REF-Fuel Co.,

 

 

 

 

 

Series 1997 A,

 

 

 

 

 

6.200% 07/01/19

 

2,000,000

 

2,083,800

 

Resource Recovery Total

 

3,388,140

 

RESOURCE RECOVERY TOTAL

 

5,334,649

 

TAX-BACKED – 28.9%

 

 

 

 

 

Local Appropriated – 1.6%

 

 

 

 

 

CA Compton Civic Center & Capital Improvements

 

 

 

 

 

Series 1997 A,

 

 

 

 

 

 

21


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

TAX-BACKED – (continued)

 

 

 

 

 

Local Appropriated – (continued)

 

 

 

 

 

5.500% 09/01/15

 

1,000,000

 

1,034,690

 

SC Dorchester County School District No. 2

 

 

 

 

 

Series 2004,

 

 

 

 

 

5.250% 12/01/29

 

650,000

 

679,594

 

SC Laurens County School District No. 55

 

 

 

 

 

Series 2005,

 

 

 

 

 

5.250% 12/01/30

 

1,050,000

 

1,092,042

 

SC Newberry County School District

 

 

 

 

 

Series 2005,

 

 

 

 

 

5.000% 12/01/30

 

500,000

 

508,860

 

Local Appropriated Total

 

3,315,186

 

Local General Obligations – 9.2%

 

 

 

 

 

CA East Side Union High School District

 

 

 

 

 

Series 2003 B,

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

5.100% 02/01/20

 

1,000,000

 

1,113,320

 

CA Fresno Unified School District

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

6.000% 02/01/18

 

1,230,000

 

1,467,378

 

CA Los Angeles Unified School District

 

 

 

 

 

Series 2002 E,

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

5.750% 07/01/16

 

700,000

 

811,713

 

CA Montebello Unified School District

 

 

 

 

 

Series 2001,

 

 

 

 

 

Insured: FSA:

 

 

 

 

 

(a) 08/01/21

 

1,435,000

 

743,187

 

(a) 08/01/23

 

1,505,000

 

706,567

 

CO Northwest Metropolitan District No. 3

 

 

 

 

 

Series 2005,

 

 

 

 

 

6.250% 12/01/35

 

500,000

 

527,465

 

IL Chicago Board of Education

 

 

 

 

 

Series 1997 A,

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

5.250% 12/01/30(h)

 

8,000,000

 

8,284,480

 

LA Greystone Community Development

 

 

 

 

 

Livingston Parish,

 

 

 

 

 

Series 2005,

 

 

 

 

 

7.148% 08/01/36(i)

 

1,032,236

 

922,327

 

NJ Bergen County Improvement Authority

 

 

 

 

 

Series 2005,

 

 

 

 

 

5.000% 11/15/24

 

1,210,000

 

1,342,072

 

NY New York City

 

 

 

 

 

Series 1997 A,

 

 

 

 

 

 

22


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

TAX-BACKED – (continued)

 

 

 

 

 

Local General Obligations – (continued)

 

 

 

 

 

7.000% 08/01/07

 

960,000

 

976,886

 

Series 1997 H,

 

 

 

 

 

6.000% 08/01/17

 

485,000

 

499,632

 

TX Dallas County Flood Control District

 

 

 

 

 

Series 2002,

 

 

 

 

 

7.250% 04/01/32

 

1,000,000

 

1,062,260

 

TX Irving Independent School District

 

 

 

 

 

Series 1997,

 

 

 

 

 

Insured: PSFG

 

 

 

 

 

(a) 02/15/18

 

1,000,000

 

611,490

 

Local General Obligations Total

 

19,068,777

 

Special Non-Property Tax – 5.3%

 

 

 

 

 

CA San Diego Redevelopment Agency

 

 

 

 

 

Series 2001,

 

 

 

 

 

Insured: FSA:

 

 

 

 

 

(a) 09/01/19

 

1,910,000

 

1,086,083

 

(a) 09/01/22

 

1,910,000

 

932,748

 

IL Bolingbrook

 

 

 

 

 

Sales Tax Revenue,

 

 

 

 

 

Series 2005,

 

 

 

 

 

(a) 01/01/24

 

750,000

 

711,975

 

IL Metropolitan Pier & Exposition Authority

 

 

 

 

 

McCormick Place Expansion Project,

 

 

 

 

 

Series 1993 A,

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

(a) 06/15/16

 

10,000,000

 

6,645,200

 

KS Wyandotte County

 

 

 

 

 

Series 2005,

 

 

 

 

 

5.000% 12/01/20

 

325,000

 

337,162

 

NJ Economic Development Authority

 

 

 

 

 

Cigarette Tax,

 

 

 

 

 

Series 2004:

 

 

 

 

 

5.500% 06/15/31

 

150,000

 

157,251

 

5.750% 06/15/29

 

1,000,000

 

1,071,180

 

Special Non-Property Tax Total

 

10,941,599

 

Special Property Tax – 9.8%

 

 

 

 

 

CA Carson Improvement Bond Act 1915

 

 

 

 

 

Series 1992,

 

 

 

 

 

7.375% 09/02/22

 

35,000

 

35,638

 

CA Huntington Beach Community Facilities District

 

 

 

 

 

Grand Coast Resort,

 

 

 

 

 

Series 2001-1,

 

 

 

 

 

6.450% 09/01/31

 

750,000

 

805,177

 

CA Lincoln Community Facilities District No. 2003-1

 

 

 

 

 

Series 2004,

 

 

 

 

 

5.900% 09/01/24

 

500,000

 

533,990

 

 

23


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

TAX-BACKED – (continued)

 

 

 

 

 

Special Property Tax – (continued)

 

 

 

 

 

CA Oakdale Public Financing Authority

 

 

 

 

 

Central City Redevelopment Project,

 

 

 

 

 

Series 2004,

 

 

 

 

 

5.375% 06/01/33

 

1,375,000

 

1,429,161

 

CA Orange County Improvement Bond Act 1915

 

 

 

 

 

Phase IV, No. 01-1–B,

 

 

 

 

 

Series 2003,

 

 

 

 

 

5.750% 09/02/33

 

500,000

 

515,435

 

CA Placer Unified High School District

 

 

 

 

 

Series 2000 A,

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

(a) 08/01/19

 

1,700,000

 

972,638

 

CA Redwood City

 

 

 

 

 

Community Facilities District No. 1,

 

 

 

 

 

Series 2003 B,

 

 

 

 

 

5.950% 09/01/28

 

600,000

 

623,148

 

CA Riverside County Public Financing Authority

 

 

 

 

 

Series 1997,

 

 

 

 

 

5.500% 10/01/22

 

120,000

 

122,356

 

CA Temecula Valley Unified School District No. 1

 

 

 

 

 

Series 2003,

 

 

 

 

 

6.125% 09/01/33

 

400,000

 

409,588

 

FL Celebration Community Development District

 

 

 

 

 

Series 2003 A,

 

 

 

 

 

6.400% 05/01/34

 

975,000

 

1,032,310

 

FL Colonial Country Club Community Development District

 

 

 

 

 

Series 2003,

 

 

 

 

 

6.400% 05/01/33

 

720,000

 

768,312

 

FL Double Branch Community Development District

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

6.700% 05/01/34

 

680,000

 

758,928

 

FL Islands at Doral Southwest Community Development District

 

 

 

 

 

Series 2003,

 

 

 

 

 

6.375% 05/01/35

 

375,000

 

396,221

 

FL Lexington Oaks Community Development District

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

6.125% 05/01/19

 

345,000

 

346,994

 

Series 2000 A,

 

 

 

 

 

7.200% 05/01/30

 

275,000

 

283,223

 

Series 2002 A,

 

 

 

 

 

6.700% 05/01/33

 

250,000

 

265,098

 

 

24


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

TAX-BACKED – (continued)

 

 

 

 

 

Special Property Tax – (continued)

 

 

 

 

 

FL Orlando

 

 

 

 

 

Conroy Road Interchange,

 

 

 

 

 

Series 1998 A:

 

 

 

 

 

5.500% 05/01/10

 

130,000

 

132,779

 

5.800% 05/01/26

 

300,000

 

305,994

 

FL Seven Oaks Community Development District

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

5.875% 05/01/35

 

290,000

 

297,679

 

Series 2004 B,

 

 

 

 

 

5.000% 05/01/09

 

760,000

 

761,991

 

FL Stoneybrook Community Development District

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

6.100% 05/01/19

 

275,000

 

276,614

 

Series 1998 B,

 

 

 

 

 

5.700% 05/01/08

 

25,000

 

25,103

 

FL West Villages Improvement District

 

 

 

 

 

Series 2006,

 

 

 

 

 

5.500% 05/01/37

 

750,000

 

762,697

 

FL Westchester Community Development District No.1

 

 

 

 

 

Series 2003,

 

 

 

 

 

6.125% 05/01/35

 

425,000

 

449,013

 

FL Westridge Community Development District

 

 

 

 

 

Series 2005,

 

 

 

 

 

5.800% 05/01/37

 

1,250,000

 

1,268,637

 

GA Atlanta

 

 

 

 

 

Series 2005 A, AMT,

 

 

 

 

 

5.625% 01/01/16

 

600,000

 

617,658

 

IL Chicago

 

 

 

 

 

Pilsen Redevelopment,

 

 

 

 

 

Series 2004 B,

 

 

 

 

 

6.750% 06/01/22

 

450,000

 

474,593

 

IL Du Page County Special Service Area No. 31

 

 

 

 

 

Series 2006,

 

 

 

 

 

5.625% 03/01/36

 

250,000

 

252,990

 

IL Lincolnshire Special Services Area No. 1

 

 

 

 

 

Sedgebrook Project,

 

 

 

 

 

Series 2004,

 

 

 

 

 

6.250% 03/01/34

 

500,000

 

524,130

 

IL Plano Special Service Area No.4

 

 

 

 

 

Series 2005 5-B,

 

 

 

 

 

6.000% 03/01/35

 

2,000,000

 

1,986,860

 

IL Volo Village Special Service Area No. 3

 

 

 

 

 

Series 2006 1,

 

 

 

 

 

6.000% 03/01/36

 

750,000

 

756,825

 

IN City of Portage

 

 

 

 

 

 

25


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

TAX-BACKED – (continued)

 

 

 

 

 

Special Property Tax – (continued)

 

 

 

 

 

Series 2006,

 

 

 

 

 

5.000% 07/15/23

 

300,000

 

303,246

 

MI Pontiac Tax Increment Finance Authority

 

 

 

 

 

Development Area No. 3,

 

 

 

 

 

Series 2002,

 

 

 

 

 

6.375% 06/01/31

 

550,000

 

589,628

 

MI Taylor Tax Increment Finance Authority

 

 

 

 

 

Series 2001,

 

 

 

 

 

Insured: FSA

 

 

 

 

 

5.375% 05/01/17

 

1,220,000

 

1,301,020

 

Special Property Tax Total

 

20,385,674

 

State Appropriated – 2.8%

 

 

 

 

 

CA Public Works Board

 

 

 

 

 

Series 2004 A,

 

 

 

 

 

5.500% 06/01/19

 

1,000,000

 

1,107,190

 

LA Military Department

 

 

 

 

 

Custody Receipts,

 

 

 

 

 

Series 2006,

 

 

 

 

 

5.000% 08/01/24

 

1,500,000

 

1,544,880

 

NY Urban Development Corp.

 

 

 

 

 

University Facilities Grants,

 

 

 

 

 

Series 1995,

 

 

 

 

 

5.875% 01/01/21

 

1,000,000

 

1,178,940

 

PR Commonwealth of Puerto Rico Public Finance Corp.

 

 

 

 

 

Series 2002 E,

 

 

 

 

 

6.000% 08/01/26

 

1,645,000

 

1,931,197

 

State Appropriated Total

 

5,762,207

 

State General Obligations – 0.2%

 

 

 

 

 

CA State

 

 

 

 

 

Series 2003,

 

 

 

 

 

5.250% 02/01/23

 

380,000

 

423,134

 

State General Obligations Total

 

423,134

 

TAX-BACKED TOTAL

 

59,896,577

 

TRANSPORTATION – 7.6%

 

 

 

 

 

Air Transportation – 4.1%

 

 

 

 

 

CA Los Angeles Regional Airport

 

 

 

 

 

LAXfuel Corp.,

 

 

 

 

 

Series 2001, AMT,

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

5.250% 01/01/23

 

750,000

 

773,130

 

CO Denver City & County Airport

 

 

 

 

 

United Air Lines, Inc.,

 

 

 

 

 

Series 1992 A, AMT,

 

 

 

 

 

6.875% 10/01/32

 

1,000,000

 

1,268,790

 

 

26


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

TRANSPORTATION – (continued)

 

 

 

 

 

Air Transportation – (continued)

 

 

 

 

 

FL Capital Trust Agency

 

 

 

 

 

Air Cargo-Orlando,

 

 

 

 

 

Series 2003, AMT,

 

 

 

 

 

6.750% 01/01/32

 

500,000

 

536,800

 

IN Indianapolis Airport Authority

 

 

 

 

 

Fed Ex Corp.,

 

 

 

 

 

Series 2004, AMT,

 

 

 

 

 

5.100% 01/15/17

 

250,000

 

261,845

 

NC Charlotte/Douglas International Airport

 

 

 

 

 

US Airways, Inc.:

 

 

 

 

 

Series 1998, AMT,

 

 

 

 

 

5.600% 07/01/27

 

250,000

 

247,683

 

Series 2000, AMT,

 

 

 

 

 

7.750% 02/01/28

 

750,000

 

798,780

 

NJ Economic Development Authority

 

 

 

 

 

Continental Airlines, Inc.:

 

 

 

 

 

Series 1999, AMT,

 

 

 

 

 

6.250% 09/15/29

 

485,000

 

495,655

 

Series 2003, AMT,

 

 

 

 

 

9.000% 06/01/33

 

750,000

 

896,512

 

NY New York City Industrial Development Agency

 

 

 

 

 

American Airlines, Inc,

 

 

 

 

 

Series 2005, AMT,

 

 

 

 

 

7.750% 08/01/31

 

500,000

 

579,980

 

Terminal One Group,

 

 

 

 

 

Series 2005, AMT,

 

 

 

 

 

5.500% 01/01/21

 

750,000

 

808,373

 

TX Dallas-Fort Worth International Airport

 

 

 

 

 

American Airlines, Inc.,

 

 

 

 

 

Series 2000 A, AMT,

 

 

 

 

 

9.000% 05/01/29(e)

 

1,000,000

 

1,151,160

 

TX Houston Industrial Development Corp.

 

 

 

 

 

United Parcel Service,

 

 

 

 

 

Series 2002, AMT,

 

 

 

 

 

6.000% 03/01/23

 

700,000

 

733,873

 

Air Transportation Total

 

8,552,581

 

Airports – 0.1%

 

 

 

 

 

GA Augusta Airport

 

 

 

 

 

Series 2005 C, AMT,

 

 

 

 

 

5.450% 01/01/31

 

250,000

 

261,560

 

Airports Total

 

261,560

 

Toll Facilities – 2.9%

 

 

 

 

 

CO E-470 Public Highway Authority

 

 

 

 

 

Series 2000 B,

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

(a) 09/01/18

 

3,000,000

 

1,789,980

 

CO Northwest Parkway Public Highway Authority

 

 

 

 

 

Series 2001 D,

 

 

 

 

 

 

27


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

TRANSPORTATION – (continued)

 

 

 

 

 

Toll Facilities – (continued)

 

 

 

 

 

7.125% 06/15/41

 

1,250,000

 

1,241,100

 

PR Commonwealth of Puerto Rico Highway & Transportation Authority

 

 

 

 

 

Series 2003 AA,

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

5.500% 07/01/18

 

500,000

 

571,140

 

VA Richmond Metropolitan Authority

 

 

 

 

 

Series 1998,

 

 

 

 

 

Insured: FGIC

 

 

 

 

 

5.250% 07/15/22

 

2,000,000

 

2,261,300

 

Toll Facilities Total

 

5,863,520

 

Transportation – 0.5%

 

 

 

 

 

NV Department of Business & Industry

 

 

 

 

 

Las Vegas Monorail Co.,

 

 

 

 

 

Series 2000,

 

 

 

 

 

7.375% 01/01/40

 

1,000,000

 

1,028,820

 

Transportation Total

 

1,028,820

 

TRANSPORTATION TOTAL

 

15,706,481

 

UTILITIES – 17.5%

 

 

 

 

 

Independent Power Producers – 2.2%

 

 

 

 

 

NY Port Authority of New York & New Jersey

 

 

 

 

 

KIAC Partners,

 

 

 

 

 

Series 1996 IV, AMT,

 

 

 

 

 

6.750% 10/01/11

 

2,000,000

 

2,031,000

 

NY Suffolk County Industrial Development Authority

 

 

 

 

 

Nissequogue Cogeneration Partners Facilities,

 

 

 

 

 

Series 1998, AMT,

 

 

 

 

 

5.500% 01/01/23

 

550,000

 

543,323

 

PA Carbon City Industrial Development Authority

 

 

 

 

 

Panther Creek Partners Project,

 

 

 

 

 

Series 2000, AMT,

 

 

 

 

 

6.650% 05/01/10

 

215,000

 

226,864

 

PA Economic Development Financing Authority

 

 

 

 

 

Northampton Generating,

 

 

 

 

 

Series 1994 A, AMT,

 

 

 

 

 

6.500% 01/01/13

 

1,000,000

 

1,000,180

 

PR Commonwealth of Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Cogeneration Facilities

 

 

 

 

 

AES Project,

 

 

 

 

 

Series 2000, AMT,

 

 

 

 

 

6.625% 06/01/26

 

645,000

 

702,411

 

Independent Power Producers Total

 

4,503,778

 

 

28


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

UTILITIES – (continued)

 

 

 

 

 

Investor Owned – 10.7%

 

 

 

 

 

AZ Pima County Industrial Development Authority

 

 

 

 

 

Tucson Electric Power Co.,

 

 

 

 

 

Series 1997 A, AMT,

 

 

 

 

 

6.100% 09/01/25

 

750,000

 

755,512

 

CA Chula Vista Industrial Development Authority

 

 

 

 

 

Enova Corp.,

 

 

 

 

 

Series 1996 B, AMT,

 

 

 

 

 

5.500% 12/01/21

 

625,000

 

679,919

 

FL Polk County Industrial Development Authority

 

 

 

 

 

Tampa Electric Co.,

 

 

 

 

 

Series 1996, AMT,

 

 

 

 

 

5.850% 12/01/30

 

1,200,000

 

1,224,336

 

IL Bryant

 

 

 

 

 

Central Illinois Light Co.,

 

 

 

 

 

Series 1993,

 

 

 

 

 

5.900% 08/01/23

 

2,650,000

 

2,653,657

 

IN Petersburg

 

 

 

 

 

Indianapolis Power & Light Co.,

 

 

 

 

 

Series 1995,

 

 

 

 

 

6.625% 12/01/24

 

1,000,000

 

1,020,040

 

LA Calcasieu Parish Industrial Development Board

 

 

 

 

 

Entergy Gulf States, Inc.,

 

 

 

 

 

Series 1999,

 

 

 

 

 

5.450% 07/01/10

 

500,000

 

503,700

 

LA West Feliciana Parish

 

 

 

 

 

Entergy Gulf States, Inc.,

 

 

 

 

 

Series 1999 B,

 

 

 

 

 

6.600% 09/01/28

 

500,000

 

502,365

 

MS Business Finance Corp.

 

 

 

 

 

Systems Energy Resources,

 

 

 

 

 

Series 1998,

 

 

 

 

 

5.875% 04/01/22

 

2,000,000

 

2,002,880

 

MT Forsyth

 

 

 

 

 

Northwestern Corp.,

 

 

 

 

 

Series 2006,

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

4.650% 08/01/23

 

1,500,000

 

1,524,750

 

Portland General,

 

 

 

 

 

Series 1998 A,

 

 

 

 

 

5.200% 05/01/33

 

300,000

 

308,139

 

NH Business Finance Authority

 

 

 

 

 

Pubilc Service Co.,

 

 

 

 

 

Series 2006 B, AMT,

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

4.750% 05/01/21

 

250,000

 

254,123

 

NV Clark County Industrial Development Authority

 

 

 

 

 

Nevada Power Co.,

 

 

 

 

 

Series 1995 B, AMT,

 

 

 

 

 

 

29


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

UTILITIES – (continued)

 

 

 

 

 

Investor Owned – (continued)

 

 

 

 

 

5.900% 10/01/30

 

1,250,000

 

1,250,125

 

OH Air Quality Development Authority

 

 

 

 

 

Cleveland Electric Illuminating Co.,

 

 

 

 

 

Series 2002 A,

 

 

 

 

 

6.000% 12/01/13

 

900,000

 

927,270

 

PA Economic Development Financing Authority

 

 

 

 

 

Reliant Energy, Inc.,

 

 

 

 

 

Series 2001 A, AMT,

 

 

 

 

 

6.750% 12/01/36

 

600,000

 

644,700

 

TX Brazos River Authority

 

 

 

 

 

TXU Energy Co., LLC:

 

 

 

 

 

Series 2001 C, AMT,

 

 

 

 

 

5.750% 05/01/36

 

280,000

 

297,055

 

Series 2003 C, AMT,

 

 

 

 

 

6.750% 10/01/38

 

645,000

 

725,877

 

VA Pittsylvania County Industrial Development Authority

 

 

 

 

 

Virginia Electric & Power Co.,

 

 

 

 

 

Series 1994 A, AMT,

 

 

 

 

 

7.450% 01/01/09

 

700,000

 

707,609

 

WV Pleasant County

 

 

 

 

 

Western Pennsylvania Power Co.,

 

 

 

 

 

Series 1999 E, AMT,

 

 

 

 

 

Insured: AMBAC

 

 

 

 

 

5.500% 04/01/29

 

4,750,000

 

4,962,135

 

WY Campbell County

 

 

 

 

 

Black Hills Power, Inc.,

 

 

 

 

 

Series 2004,

 

 

 

 

 

5.350% 10/01/24

 

1,250,000

 

1,297,912

 

Investor Owned Total

 

22,242,104

 

Joint Power Authority – 0.4%

 

 

 

 

 

NC Eastern Municipal Power Agency

 

 

 

 

 

Series 1999 D,

 

 

 

 

 

6.700% 01/01/19

 

500,000

 

544,615

 

Series 2003 F,

 

 

 

 

 

5.500% 01/01/16

 

285,000

 

305,073

 

Joint Power Authority Total

 

849,688

 

Municipal Electric – 3.2%

 

 

 

 

 

PR Commonwealth of Puerto Rico Electric Power Authority

 

 

 

 

 

Series 1998 II,

 

 

 

 

 

Insured: FSA

 

 

 

 

 

5.125% 07/01/26

 

2,000,000

 

2,116,100

 

WA Chelan County Public Utility District No. 1

 

 

 

 

 

Columbia River Rock Hydroelectric,

 

 

 

 

 

Series 1997,

 

 

 

 

 

Insured: MBIA

 

 

 

 

 

 

30


 

 

 

Par ($)

 

Value ($)

 

Municipal Bonds – (continued)

 

 

 

 

 

UTILITIES – (continued)

 

 

 

 

 

Municipal Electric – (continued)

 

 

 

 

 

(a) 06/01/14

 

5,000,000

 

3,643,150

 

WA Seattle Light & Power

 

 

 

 

 

Series 2001,

 

 

 

 

 

Insured: FSA

 

 

 

 

 

5.500% 03/01/17

 

750,000

 

799,950

 

Municipal Electric Total

 

6,559,200

 

Water & Sewer – 1.0%

 

 

 

 

 

Guam Government Waterworks Authority

 

 

 

 

 

Water and Wastewater Systems,

 

 

 

 

 

Series 2005,

 

 

 

 

 

5.875% 07/01/35

 

1,125,000

 

1,189,957

 

MS V Lakes Utility District

 

 

 

 

 

Series 1994,

 

 

 

 

 

8.250% 07/15/24(d)

 

480,000

 

367,210

 

NH Industrial Development Authority

 

 

 

 

 

Pennichuck Water Works, Inc.,

 

 

 

 

 

Series 1988, AMT,

 

 

 

 

 

7.500% 07/01/18

 

375,000

 

422,696

 

Water & Sewer Total

 

1,979,863

 

UTILITIES TOTAL

 

36,134,633

 

Total Municipal Bonds
(cost of $302,212,877)

 

316,620,636

 

Municipal Preferred Stocks – 3.1%

 

 

 

 

 

HOUSING – 3.1%

 

 

 

 

 

Multi-Family – 3.1%

 

 

 

 

 

Charter Mac Equity Issuer Trust

 

 

 

 

 

AMT,

 

 

 

 

 

6.300% 04/30/19(f)

 

1,000,000

 

1,087,940

 

Series 1999, AMT,

 

 

 

 

 

6.625% 06/30/09(f)

 

2,000,000

 

2,108,760

 

GMAC Municipal Mortgage Trust

 

 

 

 

 

AMT,

 

 

 

 

 

5.600% 10/31/39(f)

 

1,000,000

 

1,045,750

 

Munimae TE Bond Subsidiary LLC

 

 

 

 

 

Series 2000 B, AMT,

 

 

 

 

 

7.750% 06/30/50(f)

 

2,000,000

 

2,226,440

 

Multi-Family Total

 

6,468,890

 

HOUSING TOTAL

 

6,468,890

 

Total Municipal Preferred Stocks
(cost of $6,000,000)

 

6,468,890

 

 

 

 

 

 

 

 

 

Shares

 

 

 

Investment Company – 0.0%

 

 

 

 

 

Dreyfus Tax-Exempt Cash Management Fund

 

3,788

 

3,788

 

 

31


 

 

 

Shares

 

Value ($)

 

Investment Company – (continued)

 

 

 

 

 

Total Investment Company
(cost of $3,788)

 

3,788

 

 

 

 

Par ($)

 

 

 

Short-Term Obligations – 0.4%

 

 

 

 

 

VARIABLE RATE DEMAND NOTES (j) – 0.4%

 

 

 

 

 

IL Health Facilities Authority

 

 

 

 

 

OSF Healthcare Systems,

 

 

 

 

 

Series 2002,

 

 

 

 

 

LOC: Fifth Third Bank

 

 

 

 

 

3.570% 11/15/27

 

300,000

 

300,000

 

MO Chesterfield Industrial Development Authority Educational Facilities

 

 

 

 

 

Gateway Academy Inc.,

 

 

 

 

 

Series 2003,

 

 

 

 

 

LOC: U.S. Bank NA

 

 

 

 

 

3.620% 01/01/28

 

200,000

 

200,000

 

WY Uinta County

 

 

 

 

 

Chevron USA Project, Inc.,

 

 

 

 

 

Series 1993,

 

 

 

 

 

3.410% 08/15/20

 

200,000

 

200,000

 

VARIABLE RATE DEMAND NOTES TOTAL

 

700,000

 

 

 

 

 

 

 

Total Short-Term Obligations
(cost of $700,000)

 

700,000

 

 

32


 

Total Investments – 156.5%
(cost of $309,916,665)(k)(l)

 

323,793,314

 

 

 

 

 

Other Assets & Liabilities, Net – (56.5)%

 

(116,833,860

)

 

 

 

 

Net Assets – 100.0%

 

206,959,454

 

 

 

Notes to Investment Portfolio:

 

*

Security Valuation:

 

Debt securities generally are valued by pricing services approved by the Fund’s 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.

 

Investments in other investment companies are valued at net asset 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 have 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. If a security is valued at a “fair value”, such value is likely to be different from the last quoted market price for the security.

 

Swap transactions such as interest rate, total return, index or currency swaps, consistent with their investment objective and policies to obtain a desired return at a lower cost than if the Funds had invested directly in the asset that yielded the desired return. Swaps involve the exchange by a Fund with another party of their respective commitments to pay or receive interest or total return throughout the lives of the agreements. The interest to be paid or received on interest rate swaps is included in net realized gain/(loss) on investments. Unrealized gains are reported as an asset and unrealized losses are reported as a liability on the Statement of net assets. A realized gain or loss is recorded upon termination of swap agreements and is equal to the difference between the Fund’s basis in the swap and the proceeds from (or cost of) the closing transaction. Swap agreements are stated at fair value. Notional principal amounts are used to express the extent of involvement in these transactions, but the amounts potentially subject to credit risk are much smaller.

 

 

(a)

Zero coupon bond.

 

(b)

Denotes a restricted security, which is subject to restrictions on resale under federal securities laws or in transactions exempt from registration.  At August 31, 2006, the value of these securities amounted to $1,278,068, which represents 0.6% of net assets.

 

 

Additional information on these restricted securities is as follows:

 

33


 

Security

 

Acquisition
Date

 

Acquisition
Cost

 

CA Statewide Communities

 

 

 

 

 

Development Authority,

 

 

 

 

 

Crossroads School of Arts

 

 

 

 

 

& Sciences,

 

 

 

 

 

Series 1998,

 

 

 

 

 

6.000% 08/01/28

 

08/21/98

 

$

1,230,000

 

 

 

 

 

$

1,230,000

 

 

 

(c)

Security purchased on a delayed delivery basis.

 

(d)

The issuer is in default of certain debt covenants.  Income is not being accrued.  At August 31, 2006, the value of these securities amounted to $994,659, which represents 0.5% of net assets.

 

(e)

The interest rate shown on floating rate or variable rate securities reflects the rate at August 31, 2006.

 

(f)

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 August 31, 2006, these securities, which are not illiquid, except for the following, amounted to $9,900,428, which represents 4.8% of net assets.

 

 

 

Acquisition

 

 

 

 

 

 

 

Security

 

Date

 

Par

 

Cost

 

Value

 

Resolution Trust Corp.,

 

 

 

 

 

 

 

 

 

Pass-Through

 

 

 

 

 

 

 

 

 

Certificates,

 

 

 

 

 

 

 

 

 

Series 1993 A,

 

 

 

 

 

 

 

 

 

8.500% 12/01/16

 

08/27/93

 

$

546,075

 

 

$

556,951

 

 

$

538,118

 

 

 

(g)

The Trust has been informed that each issuer has placed direct obligations of the U.S. Government in an irrevocable trust, solely for the payment of principal and interest.

 

(h)

Security pledged as collateral for open futures contracts.

 

(i)

Represents fair value as determined in good faith under procedures approved by the Board of Trustees.

 

(j)

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 reflect the rates at August 31, 2006.

 

(k)

Cost for federal income tax purposes is $309,672,810.

 

(l)

Unrealized appreciation and depreciation at August 31, 2006 based on cost of investments for federal income tax purposes was:

 

 

 

 

 

Unrealized

 

Unrealized

 

Net Unrealized

 

 

 

 

Appreciation

 

Depreciation

 

Appreciation

 

 

 

 

$

19,987,951

 

$

(5,867,447

)

$

14,120,504

 

 

 

At August 31, 2006, the Fund held the following open short futures contract:

 

 

 

Number of

 

 

 

Aggregate

 

Expiration

 

Unrealized

 

Type

 

Contracts

 

Value

 

Face Value

 

Date

 

(Depreciation)

 

10-Year U.S. Treasury Notes

 

190

 

$

20,410,156

 

$

20,022,788

 

Sep-2006

 

$

(387,368

)

U.S. Treasury Bonds

 

44

 

$

4,870,250

 

$

4,755,295

 

Sep-2006

 

$

(114,955

)

 

 

 

 

 

 

 

 

 

 

$

(502,323

)

 

At August 31, 2006, the Trust held the following forward swap contract:

 

Notional

 

Effective

 

Expiration

 

Counter-

 

Receive

 

Fixed

 

Variable

 

Net
Unrealized

 

Amount

 

Date

 

Date

 

party

 

(Pay)

 

Rate

 

Rate

 

Depreciation

 

$

19,000,000

 

08/03/06

 

11/07/06

 

JPMorgan Chase Bank

 

(Pay)

 

4.168

%

BMA Index

 

$

(341,276

)

 

34


 

 

 

Acronym

 

Name

 

 

AMBAC

 

Ambac Assurance Corp.

 

 

AMT

 

Alternative Minimum Tax

 

 

FGIC

 

Financial Guaranty Insurance Co.

 

 

FHA

 

Federal Housing Administration

 

 

FHLMC

 

Federal Home Loan Mortgage Corp.

 

 

FNMA

 

Federal National Mortgage Association

 

 

FSA

 

Financial Security Assurance, Inc.

 

 

GNMA

 

Government National Mortgage Association

 

 

LOC

 

Letter of Credit

 

 

MBIA

 

MBIA Insurance Corp.

 

 

PSFG

 

Permanent School Fund Guarantee

 

 

RAD

 

Radian Asset Assurance, Inc.

 

 

UT

 

Unlimited Tax

 

35


 

Item 2. Controls and Procedures.

 

(a)          The registrant’s principal executive officer and principal financial officer, based on their evaluation of the registrant’s 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 registrant’s 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 registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s 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 High Income Municipal Trust

 

 

 

 

 

 

 

By (Signature and Title)

/s/ Christopher L. Wilson

 

 

Christopher L. Wilson, President

 

 

 

 

 

 

 

Date

 

October 27, 2006

 

 

 

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

 

October 27, 2006

 

 

 

 

 

 

 

By (Signature and Title)

/s/ J. Kevin Connaughton

 

 

J. Kevin Connaughton, Treasurer

 

 

 

 

 

 

 

Date

 

October 27, 2006