UNITED STATES
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SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
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FORM N-Q
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QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
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INVESTMENT COMPANY
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Investment Company Act file number 811-5877
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DREYFUS STRATEGIC MUNICIPAL BOND FUND, INC.
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(Exact name of Registrant as specified in charter)
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c/o The Dreyfus Corporation
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200 Park Avenue
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New York, New York 10166
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(Address of principal executive offices) (Zip code)
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Mark N. Jacobs, Esq.
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200 Park Avenue
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New York, New York 10166
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(Name and address of agent for service)
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Registrant's telephone number, including area code: (212) 922-6000
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Dreyfus Strategic Municipal Bond Fund, Inc.
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Statement of Investments
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August 31, 2005 (Unaudited)
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Principal
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Long-Term Municipal Investments--141.7%
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Amount ($)
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Value ($)
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Alabama--1.0%
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Jefferson County, Limited Obligation
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School Warrants 5.50%, 1/1/2022
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4,000,000
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4,412,480
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Alaska--4.2%
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Alaska Housing Finance Corp.:
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6.25%, 6/1/2035
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5,640,000
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6,000,396
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6.05%, 6/1/2039 (Insured; MBIA)
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11,915,000
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12,417,456
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Arizona--.5%
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Apache County Industrial Development Authority, PCR
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(Tucson Electric Power Co.) 5.85%, 3/1/2028
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2,220,000
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2,220,710
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Arkansas--1.9%
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Arkansas Development Finance Authority, SFMR
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6.25%, 1/1/2032
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3,110,000
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3,163,772
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Little Rock School District
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5.25%, 2/1/2030 (Insured; FSA)
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5,000,000
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5,329,750
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California--9.1%
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California
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5.50%, 4/1/2028
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5,450,000
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6,182,752
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California Department of Veteran Affairs,
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Home Purchase Revenue 5.20%, 12/1/2028
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5,000,000
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5,003,800
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California Department of Water Resources,
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Power Supply Revenue 6%, 5/1/2015
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10,000,000
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11,563,500
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California Health Facilities Financing Authority, Revenue:
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(Cedars-Sinai Medical Center):
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6.25%, 12/1/2009
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3,750,000
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a
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4,257,375
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5%, 11/15/2018
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3,925,000
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4,194,961
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Golden State Tobacco Securitization Corp.
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Enhanced Tobacco Settlement Asset-Backed
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5%, 6/1/2045
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8,500,000
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8,869,410
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Colorado--4.6%
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Colorado Health Facilities Authority, Revenue
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(American Housing Foundation 1, Inc.)
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2,015,000
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2,048,590
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8.50%, 12/1/2031
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Colorado Housing and Financing Authority
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(Single Family Program Senior And Subordinate)
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6.60%, 8/1/2032
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2,615,000
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2,724,830
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Denver City and County, Special Facilities Airport Revenue
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(United Air Lines) 6.875%, 10/1/2032
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2,885,000
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b
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2,670,818
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Northwest Parkway Public Highway Authority, Revenue
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(First Tier Subordinated) 7.125%, 6/15/2041
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7,000,000
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7,614,880
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Silver Dollar Metropolitan District
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7.05%, 12/1/2006
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4,825,000
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a
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5,059,350
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Connecticut--4.8%
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Connecticut Development Authority, PCR
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(Connecticut Light and Power) 5.95%, 9/1/2028
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9,000,000
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9,682,380
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Connecticut Health and Educational Facilities
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Authority, Revenue (Yale University)
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5%, 7/1/2042
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5,000,000
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5,269,150
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Connecticut Resource Recovery Authority
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(American Refunding-Fuel Company)
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6.45%, 11/15/2022
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4,985,000
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5,079,216
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Mohegan Tribe Indians Gaming Authority,
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Public Improvement-Priority Distribution
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6.25%, 1/1/2031
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1,000,000
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1,081,570
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District of Columbia--1.2%
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Metropolitan Washington Airports Authority,
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Special Facilities Revenue
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(Caterair International Corp.) 10.125%, 9/1/2011
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5,120,000
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5,127,526
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Florida--4.1%
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Florida Housing Finance Corp., Housing Revenue
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(Seminole Ridge Apartments)
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6%, 4/1/2041 (Collateralized; GNMA)
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6,415,000
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6,768,210
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Miami-Dade County Expressway Authority,
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Toll System Revenue
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5.125%, 7/1/2029 (Insured; FGIC)
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4,000,000
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4,243,200
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Orange County Health Facilities Authority, Revenue:
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(Adventist Health System) 6.25%, 11/15/2024
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3,000,000
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3,379,740
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(Orlando Regional Healthcare System) 6%, 10/1/2026
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3,500,000
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3,731,630
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Georgia--2.0%
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Augusta, Airport Revenue
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5.45%, 1/1/2031
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2,500,000
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2,581,025
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Atlanta Airport Revenue
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5.25%, 1/1/2025 (Insured; FSA)
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3,000,000
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3,226,860
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Savannah Economic Development Authority,
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EIR (International Paper Company)
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6.20%, 8/1/2027
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2,670,000
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2,881,731
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Idaho--.1%
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Idaho Housing and Finance Association, SFMR
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6.35%, 1/1/2030 (Collateralized; FNMA)
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585,000
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618,246
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Illinois--9.9%
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Chicago, Collateralized SFMR
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6.25%, 10/01/2032
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2,945,000
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3,078,320
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Chicago O'Hare International Airport:
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General Airport Revenue (3rd Lien B-2)
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6%, 1/1/2029 (Insured; XLCA)
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5,000,000
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5,685,350
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Special Facility Revenue
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(American Airlines Incorporated)
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8.20%, 12/1/2024
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7,000,000
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6,809,600
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Illinois Educational Facilities Authority Revenues:
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(Northern University)
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5%, 12/1/2038
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5,000,000
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5,217,650
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(University of Chicago)
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5.125%, 7/1/2038 (Insured; MBIA)
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5,000,000
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5,248,600
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Illinois Health Facilities Authority, Revenue:
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(Advocate Network Health Care) 6.125%, 11/15/2010
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5,000,000
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a
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5,674,050
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(OSF Healthcare Systems) 6.25%, 11/15/2029
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10,900,000
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11,745,513
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Indiana--1.6%
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Franklin Township School Building Corp.
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6.125%, 7/15/2010
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6,000,000
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a
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6,874,680
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Louisiana--1.8%
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West Feliciana Parish, PCR (Entergy Gulf States):
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7%, 11/1/2015
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3,000,000
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3,023,370
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6.60%, 9/1/2028
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4,700,000
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4,752,170
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Maryland--1.2%
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Maryland Economic Development Corp.,
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Student Housing Revenue (University of Maryland)
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5.75%, 10/1/2033
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2,550,000
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2,735,309
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Maryland Industrial Development Financing
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Authority, EDR (Medical Waste Associates
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Limited Partnership) 8.75%, 11/15/2010
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3,710,000
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2,641,223
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Massachusetts--3.0%
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Massachusetts Development Finance Agency, Revenue
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(WGBH Educational Foundation)
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5.375%, 1/1/2042 (Insured; AMBAC)
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5,750,000
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6,290,327
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Massachusetts Health and Educational Facilities
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Authority, Revenue:
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(Civic Investments) 9%, 12/15/2015
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2,000,000
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2,457,460
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(Partners Healthcare System) 5.75%, 7/1/2032
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3,000,000
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3,329,910
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Massachusetts Housing Finance Agency
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(Housing) 5%, 6/1/2030
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1,000,000
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1,039,440
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Michigan--3.1%
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Michigan Hospital Finance Authority, HR
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(Genesys Health System Obligated Group)
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8.125%, 10/1/2005
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5,000,000
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a
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5,121,500
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Michigan Strategic Fund, SWDR
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(Genesee Power Station) 7.50%, 1/1/2021
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8,450,000
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c
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8,393,300
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Minnesota--1.0%
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Saint Paul Housing and Redevelopement Authority:
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Hospital Facility Revenue (HealthEast Project):
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6%, 11/15/2025
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1,000,000
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1,104,770
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6%, 11/15/2035
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3,000,000
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3,268,830
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Mississippi--.7%
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Mississippi Business Finance Corp. PCR
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(Systems Energy Resources, Inc.) 5.90%, 5/1/2022
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3,160,000
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3,248,986
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Nebraska--.4%
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Nebraska Investment Finance Authority, SFMR
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9.742%, 3/1/2026
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1,700,000
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d,e
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1,890,485
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Nevada--3.9%
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Clark County IDR
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(Nevada Power Co. Project) 5.60%, 10/1/2030
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3,000,000
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|
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2,999,970
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Washoe County:
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(Reno-Sparks Convention) 6.40%, 1/1/2010
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(Insured; FSA)
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8,000,000
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a
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9,046,800
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Water Facility Revenue (Sierra Pacific Power Co.)
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5%, 3/1/2009
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5,000,000
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5,101,100
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New Hampshire--3.4%
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New Hampshire Business Finance Authority, PCR
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(Public Service Co.):
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6%, 5/1/2021 (Insured; MBIA)
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2,690,000
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2,914,104
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6%, 5/1/2021 (Insured; MBIA)
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6,000,000
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|
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6,499,860
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New Hampshire Industrial Development Authority, PCR
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(Connecticut Light) 5.90%, 11/1/2016
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5,400,000
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|
|
5,517,828
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New Jersey--4.4%
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|
|
New Jersey Economic Development Authority:
|
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|
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|
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Special Facilities Revenue (Continental Airlines, Inc. Project):
|
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|
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6.25%, 9/15/2019
|
|
3,620,000
|
|
|
|
3,345,894
|
6.25%, 9/15/2029
|
|
4,500,000
|
|
|
|
4,071,330
|
|
Tobacco Settlement Financing Corp. of New Jersey
|
|
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|
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|
7%, 6/1/2041
|
|
10,095,000
|
|
|
|
12,076,649
|
|
New York--4.7%
|
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|
|
|
|
|
New York City Industrial Development Agency, Revenue
|
|
|
|
|
(Liberty-7 World Trade Center)
|
|
|
|
|
|
|
6.25%, 3/1/2015
|
|
4,500,000
|
|
|
|
4,786,425
|
|
New York City Municipal Water Finance Authority,
|
|
|
|
|
|
|
Water and Sewer System Revenue
|
|
|
|
|
|
|
5%, 6/15/2037
|
|
5,000,000
|
|
|
|
5,304,000
|
|
New York City Transitional Finance Authority, Revenue
|
|
|
|
|
(Future Tax Secured) 5.375%, 11/15/2021
|
|
5,000,000
|
|
|
|
5,535,200
|
|
New York State Dormitory Authority, Revenue:
|
|
|
|
|
|
|
(Marymount Manhattan College) 6.25%, 7/1/2029
|
|
|
|
|
|
|
6.25%, 7/1/2029 (Insured; Radian)
|
|
4,000,000
|
|
|
|
4,417,840
|
(Suffolk County Judicial Facility)
|
|
|
|
|
|
|
9.50%, 4/15/2014
|
|
605,000
|
|
|
|
859,112
|
|
North Carolina--1.2%
|
|
|
|
|
|
|
|
North Carolina Eastern Municipal Power Agency,
|
|
|
|
|
|
|
Power Systems Revenue 6.70%, 1/1/2019
|
|
2,500,000
|
|
|
|
2,803,425
|
|
Gaston County Industrial Facilities and
|
|
|
|
|
|
|
Pollution Control Financing Authority,
|
|
|
|
|
|
|
Exempt Facilities Revenue (National Gypsum Co. Project)
|
|
|
|
|
5.75%, 8/1/2035
|
|
2,500,000
|
|
|
|
2,618,875
|
|
Ohio--6.2%
|
|
|
|
|
|
|
|
Cuyahoga County, HR (Metrohealth Systems)
|
|
|
|
|
|
|
6.15%, 2/15/2009
|
|
10,000,000
|
|
a
|
|
11,083,700
|
|
Cuyahoga County Hospital Facilities, Revenue
|
|
|
|
|
|
|
(UHHS/CSAHS Cuyahoga Inc. and
|
|
|
|
|
|
|
CSAHS/UHHS Canton Inc.) 7.50%, 1/1/2030
|
|
3,500,000
|
|
|
|
3,966,445
|
|
Mahoning County Hospital Facilities, Revenue
|
|
|
|
|
|
|
(Forum Health Obligation Group)
|
|
|
|
|
|
|
6%, 11/15/2032
|
|
4,000,000
|
|
|
|
4,388,000
|
|
Ohio Air Quality Development Authority, PCR
|
|
|
|
|
|
|
(Cleveland Electric Illuminating Co.)
|
|
|
|
|
|
|
6.10%, 8/1/2020
|
|
2,400,000
|
|
|
|
2,517,264
|
|
Ohio Housing Finance Agency, Mortgage Revenue
|
|
|
|
|
|
|
9.39%, 3/1/2029 (Collateralized; GNMA)
|
|
1,170,000
|
|
d,e
|
|
1,219,737
|
|
Ohio Water Development Authority, PCR
|
|
|
|
|
|
|
(Cleveland Electric) 6.10%, 8/1/2020
|
|
4,000,000
|
|
|
|
4,195,440
|
|
Oklahoma--4.0%
|
|
|
|
|
|
|
|
Oklahoma Development Finance Authority, Revenue
|
|
|
|
|
|
|
(Saint.John Health System) 6%, 2/15/2029
|
|
9,000,000
|
|
|
|
9,776,880
|
|
Oklahoma Industries Authority, Health System
|
|
|
|
|
|
|
Revenue (Obligation Group):
|
|
|
|
|
|
|
5.75%, 8/15/2009 (Insured; MBIA)
|
|
2,105,000
|
|
a
|
|
2,329,772
|
5.75%, 8/15/2029 (Insured; MBIA)
|
|
2,895,000
|
|
|
|
3,148,776
|
Tulsa Municipal Airport Trust Revenue
|
|
|
|
|
|
|
(American Airlines Project)
|
|
|
|
|
|
|
5.65%, 12/1/2008
|
|
2,550,000
|
|
|
|
2,460,801
|
|
Oregon--.7%
|
|
|
|
|
|
|
|
Western Generation Agency,
|
|
|
|
|
|
|
Cogeneration Project Revenue
|
|
|
|
|
|
|
(Wauna Cogeneration) 7.40%, 1/1/2016
|
|
3,250,000
|
|
|
|
3,299,725
|
|
Pennsylvania--2.9%
|
|
|
|
|
|
|
|
Allegheny County Port Authority, Special Transportation
|
|
|
|
|
|
|
Revenue 6.125%, 3/1/2009
|
|
|
|
|
|
|
(Insured; MBIA)
|
|
4,750,000
|
|
a
|
|
5,274,447
|
|
Pennsylvania Economic Development Financing
|
|
|
|
|
|
|
Authority, Exempt Facilities Revenue
|
|
|
|
|
|
|
(Reliant Energy) 6.75%, 12/1/2036
|
|
4,000,000
|
|
|
|
4,317,920
|
|
Pennsylvania Housing Finance Agency,
|
|
|
|
|
|
|
Multi-Family Development Revenue
|
|
|
|
|
|
|
8.25%, 12/15/2019
|
|
254,000
|
|
|
|
254,617
|
|
Pennsylvania Turnpike Commission, Turnpike Revenue
|
|
|
|
|
|
|
5.25%, 12/1/2032 (Insured; AMBAC)
|
|
2,695,000
|
|
|
|
2,949,893
|
|
Rhode Island--1.7%
|
|
|
|
|
|
|
|
Central Falls Detention Facility Corp.
|
|
|
|
|
|
|
7.25%, 7/15/2035
|
|
1,000,000
|
|
|
|
1,033,720
|
|
Rhode Island Health and Educational Building
|
|
|
|
|
|
|
Corp., Higher Educational Facilities
|
|
|
|
|
|
|
(University of Rhode Island)
|
|
|
|
|
|
|
5.875%, 9/15/2029 (Insured; MBIA)
|
|
5,910,000
|
|
|
|
6,511,520
|
|
South Carolina--6.6%
|
|
|
|
|
|
|
|
Greenville County School District,
|
|
|
|
|
|
|
Installment Purchase Revenue
|
|
|
|
|
|
|
(Residuals-Series 982) 8.25%, 12/1/2028
|
|
7,500,000
|
|
d,e
|
|
8,856,225
|
|
Greenville Hospital System, Hospital Facilities Revenue
|
|
|
|
|
|
|
5.50%, 5/1/2026 (Insured; AMBAC)
|
|
7,000,000
|
|
|
|
7,714,140
|
|
Richland County, Environmental Improvement Revenue
|
|
|
|
|
|
|
(International Paper Co.) 6.10%, 4/1/2023
|
|
6,500,000
|
|
|
|
7,044,570
|
|
South Carolina Medical Facilities, Hospital Facilities
|
|
|
|
|
|
|
Revenue 6%, 7/1/2009
|
|
5,000,000
|
|
a
|
|
5,557,750
|
|
Tennessee--3.8%
|
|
|
|
|
|
|
|
Johnson City Health and Educational Facilities Board, HR
|
|
|
|
|
|
|
(1st Mortgage-Mountain State Health):
|
|
|
|
|
|
|
7.50%, 7/1/2025
|
|
2,000,000
|
|
|
|
2,404,240
|
7.50%, 7/1/2033
|
|
4,875,000
|
|
|
|
5,821,822
|
|
Memphis Center City Revenue Finance Corp.
|
|
|
|
|
|
|
Sports Facility Revenue
|
|
|
|
|
|
|
(Memphis Redbirds) 6.50%, 9/1/2028
|
|
6,000,000
|
|
|
|
6,140,220
|
|
Tennessee Housing Development Agency
|
|
|
|
|
|
|
(Homeownership Program)
|
|
|
|
|
|
|
6%, 1/1/2028
|
|
2,190,000
|
|
|
|
2,249,393
|
|
Texas--22.0%
|
|
|
|
|
|
|
|
Arlington, Dallas Cowboys Complex Special Obligations,
|
|
|
|
|
|
|
Tax Exempt Special Tax 5%, 8/15/2034 (Insured; MBIA)
|
|
3,500,000
|
|
c
|
|
3,822,315
|
|
Dallas Fort Worth International Airport,
|
|
|
|
|
|
|
Facility Improvement Corporation Revenue
|
|
|
|
|
|
|
(Bombardier Inc.) 6.15%, 1/1/2016
|
|
3,000,000
|
|
|
|
3,081,600
|
|
Gregg County Health Facilities Development
|
|
|
|
|
|
|
Corp., HR (Good Shepherd Medical Center)
|
|
|
|
|
|
|
6.375%, 10/1/2025
|
|
2,500,000
|
|
|
|
2,814,975
|
|
Harris County Health Facilities Development
|
|
|
|
|
|
|
Corp., HR (Memorial Hermann Healthcare)
|
|
|
|
|
|
|
6.375%, 6/1/2029
|
|
7,000,000
|
|
|
|
7,751,450
|
|
Harris County-Houston Sports Authority
|
|
|
|
|
|
|
Revenue (Third Lien-A-3)
|
|
|
|
|
|
|
Zero Coupon, 11/15/2031 (Insured; MBIA)
|
|
9,685,000
|
|
|
|
2,580,859
|
|
Houston, Airport System Special Facilities Revenue
|
|
|
|
|
|
|
(Continental Airlines, Inc.Terminal E Project)
|
|
|
|
|
|
|
6.75%, 7/1/2021
|
|
2,000,000
|
|
|
|
1,964,520
|
|
Katy Independent School District
|
|
|
|
|
|
|
6.125%, 2/15/2009
|
|
11,360,000
|
|
a
|
|
12,507,019
|
|
Lubbock Texas Housing Financing Corp., SMFR
|
|
|
|
|
|
|
6.70%, 10/1/2030
|
|
2,255,000
|
|
|
|
2,375,124
|
|
Sabine River Authority, PCR (TXU Electric):
|
|
|
|
|
|
|
5.50%, 5/1/2011
|
|
5,490,000
|
|
|
|
5,879,406
|
6.45%, 6/1/2021
|
|
4,900,000
|
|
|
|
5,260,101
|
|
Springhill Courtland Heights Public
|
|
|
|
|
|
|
Facility Corp. MFHR 5.85%, 12/1/2028
|
|
6,030,000
|
|
|
|
5,846,990
|
|
Texas:
|
|
|
|
|
|
|
(Veterans) 6%, 12/1/2030
|
|
3,935,000
|
|
|
|
4,279,627
|
(Veterans Housing Assistance Program)
|
|
|
|
|
|
|
6.10%, 6/1/2031
|
|
8,510,000
|
|
|
|
9,147,484
|
|
Texas Department of Housing and Community Affairs:
|
|
|
|
|
|
|
Collateralized Home Mortgage Revenue
|
|
|
|
|
|
|
11.052%, 7/2/2024
|
|
2,000,000
|
|
e
|
|
2,047,620
|
Residential Mortgage Revenue
|
|
|
|
|
|
|
5.35%, 7/1/2033
|
|
5,735,000
|
|
|
|
5,937,101
|
|
Texas Turnpike Authority,
|
|
|
|
|
|
|
Central Texas Turnpike System Revenue
|
|
|
|
|
|
|
5.25%, 5/15/2042 (Insured; AMBAC)
|
|
6,775,000
|
|
|
|
7,361,783
|
Tomball Hospital Authority, Revenue:
|
|
|
|
|
|
|
6.125%, 7/1/2023
|
|
3,680,000
|
|
|
|
3,731,888
|
(Tomball Regional Hospital) 6%, 7/1/2025
|
|
4,650,000
|
|
|
|
4,844,370
|
|
Tyler Health Facilities Development Corp., HR
|
|
|
|
|
|
|
(East Texas Medical Center Regional Health)
|
|
|
|
|
|
|
6.75%, 11/1/2025
|
|
5,850,000
|
|
|
|
5,857,196
|
|
Utah--.9%
|
|
|
|
|
|
|
|
Carbon County, SWDR (Sunnyside Cogeneration)
|
|
|
|
|
|
|
7.10%, 8/15/2023
|
|
3,918,000
|
|
|
|
3,968,307
|
|
Virginia--6.2%
|
|
|
|
|
|
|
|
Henrico County Industrial Development Authority,
|
|
|
|
|
|
|
Revenue (Bon Secours Health System)
|
|
|
|
|
|
|
9.343%, 8/23/2027
|
|
7,500,000
|
|
e
|
|
11,098,950
|
|
Tobacco Settlement Financing Corp.of Virginia
|
|
|
|
|
|
|
Tobacco Settlement Asset-Backed
|
|
|
|
|
|
|
5.625%, 6/1/2037
|
|
6,810,000
|
|
|
|
7,078,723
|
|
Virginia Housing Development Authority,
|
|
|
|
|
|
|
Rental Housing 6.20%, 8/1/2024
|
|
8,520,000
|
|
|
|
9,114,526
|
|
Washington--3.4%
|
|
|
|
|
|
|
|
Energy Northwest, Revenue
|
|
|
|
|
|
|
(Wind Project) 6%, 1/1/2007
|
|
3,670,000
|
|
a
|
|
3,916,734
|
|
Washington Higher Education Facilities Authority,
|
|
|
|
|
|
|
Revenue (Whitman College)
|
|
|
|
|
|
|
5.875, 10/1/2009
|
|
10,000,000
|
|
a
|
|
11,042,200
|
|
Wisconsin--5.2%
|
|
|
|
|
|
|
|
Badger Tobacco Asset Securitization Corp.,
|
|
|
|
|
|
|
Tobacco Settlement Revenue
|
|
|
|
|
|
|
7%, 6/1/2028
|
|
14,570,000
|
|
|
|
16,682,504
|
|
Wisconsin Health and Educational Facilities
|
|
|
|
|
|
|
Authority, Revenue (Aurora Health Care)
|
|
|
|
|
|
|
6.40%, 4/15/2033
|
|
5,500,000
|
|
|
|
6,147,735
|
|
Wyoming--3.5%
|
|
|
|
|
|
|
|
Sweetwater County, SWDR (FMC Corp.):
|
|
|
|
|
|
|
7%, 6/1/2024
|
|
2,140,000
|
|
|
|
2,163,818
|
6.90%, 9/1/2024
|
|
2,465,000
|
|
|
|
2,492,066
|
|
Wyoming Student Loan Corp.,
|
|
|
|
|
|
|
Student Loan Revenue:
|
|
|
|
|
|
|
6.20%, 6/1/2024
|
|
5,000,000
|
|
|
|
5,407,750
|
6.25%, 6/1/2029
|
|
5,000,000
|
|
|
|
5,384,850
|
|
U.S. Related--.8%
|
|
|
|
|
|
|
Zero Coupon, 5/15/2055
|
|
20,000,000
|
|
686,800
|
Puerto Rico Infrastructure Financing Authority,
|
|
|
|
|
Special Tax Revenue
|
|
|
|
|
Zero Coupon, 7/1/2035 (Insured; AMBAC)
|
|
10,000,000
|
|
2,615,700
|
Total Long-Term Municipal Investments
|
|
|
|
|
(cost $587,906,908)
|
|
|
|
624,343,677
|
Short-Term Municipal Investments--.9%
|
|
|
|
|
Alaska;
|
|
|
|
|
Valdez, Marine Terminal Revenue
|
|
|
|
|
(Exxon Pipeline Co. Project) 2.29%
|
|
|
|
|
(cost $3,750,000)
|
|
3,750,000 f
|
|
3,750,000
|
Total Investments (cost $591,656,908)
|
|
142.6%
|
|
628,093,677
|
Liabilities, Less Cash and Receivables
|
|
(.4%)
|
|
(1,542,969)
|
Preferred Stock, at redemption value
|
|
(42.2%)
|
|
(186,000,000)
|
Net Assets
|
|
100%
|
|
440,550,708
|
Notes to Statements of Investments:
|
|
a
|
|
These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are collateralized by U.S.
|
Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire the bonds in full at the
|
earliest refunding date.
|
b
|
|
Non-income producing security, interest payments in default.
|
c
|
|
Purchased on delayed delivery basis.
|
d
|
|
Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from
|
registration, normally to qualified institutional buyers. At August 31, 2005 these securities amounted to $11,966,447 or 2.7% of net assets applicable
|
to common shareholders.
|
e
|
|
Inverse floater security--the interest rate is subject to change periodically.
|
f
|
|
Securities payable on demand. Variable interest rate--subject to periodic change.
|
g At August 31, 2005, the fund had $130,069,346 or 29.5% of net assets applicable to common shareholders invested in securities whose payment of
|
principal and interest is dependant upon revenues generated from health care projects.
|
|
|
Securities evaluation policies and other investment related disclosures are hereby incorporated by the reference to the annual and semi-annual reports
|
previously filed with the Securites and Exchange Commission on Form N-CSR.
|