UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-07096 ---------------------------------------------- Investment Grade Municipal Income Fund Inc. ------------------------------------------------------------------------------ (Exact name of registrant as specified in charter) 51 West 52nd Street, New York, New York 10019-6114 ------------------------------------------------------------------------------ (Address of principal executive offices) (Zip code) Mark F. Kemper, Esq. UBS Global Asset Management (US) Inc. 51 West 52nd Street New York, NY 10019-6114 (Name and address of agent for service) Copy to: Jack W. Murphy, Esq. Dechert LLP 1775 I Street, N.W. Washington, DC 20006-2401 Registrant's telephone number, including area code: 212-882 5000 Date of fiscal year end: September 30 Date of reporting period: December 31, 2004 ITEM 1. SCHEDULE OF INVESTMENTS
Investment Grade Municipal Income Fund Inc.
SCHEDULE OF INVESTMENTS-December 31, 2004 (unaudited)
Principal |
|
|
|
Moody's |
|
S&P |
|
Maturity |
|
Interest |
|
Value ($) |
Long-Term Municipal Bonds-163.22% |
|
|
|
|
|
|
|
|
|
|
||
Arizona-1.60% |
|
|
|
|
|
|
|
|
|
|
||
2,380 |
|
Arizona State Transportation Board Highway Revenue-Series B |
|
Aa1 |
|
AAA |
|
07/01/18 |
|
5.250 |
|
2,612,312 |
Arkansas-1.09% |
|
|
|
|
|
|
|
|
||||
1,705 |
|
Little Rock Capital Improvement Revenue Parks & Recreation Projects-Series A |
|
NR |
|
NR |
|
01/01/18 |
|
5.700 |
|
1,784,982 |
California-32.70% |
|
|
|
|
|
|
|
|
||||
5,000 |
|
California State Department Water Resources Revenue-Series A |
|
A2 |
|
BBB+ |
|
05/01/16 |
|
5.875 |
|
5,677,350 |
5,000 |
|
California State Economic Recovery General Obligation-Series A (FGIC Insured) |
|
Aaa |
|
AAA |
|
07/01/14 |
|
5.250 |
|
5,680,350 |
4,000 |
|
California State Economic Recovery General Obligation-Series A (MBIA Insured) |
|
Aaa |
|
AAA |
|
07/01/12 |
|
5.000 |
|
4,456,960 |
2,290 |
|
California State Variable Purpose General Obligation |
|
A3 |
|
A |
|
04/01/11 |
|
5.000 |
|
2,517,626 |
3,000 |
|
California Statewide Communities Development Authority-Irvine Apartment Communities-Series A-3 |
|
Baa2 |
|
BBB |
|
05/15/25 |
|
5.100 |
|
3,163,890 |
1,750 |
|
California Statewide Communities Development Authority Revenue-Kaiser Permanente-Series H |
|
NR |
|
A |
|
04/01/34 |
|
2.625 |
|
1,731,765 |
2,150 |
|
Fontana Redevelopment Agency Tax Allocation Jurupa Hills Redevelopment Project A |
|
NR |
|
A- |
|
10/01/17 |
|
5.500 |
|
2,286,718 |
5,000 |
|
Los Angeles County Sanitation Funding Authority Revenue-Series A (FSA Insured) |
|
Aaa |
|
AAA |
|
10/01/18 |
|
5.000 |
|
5,415,700 |
3,000 |
|
Los Angeles Water & Power Revenue Power Systems-Series A (MBIA Insured) |
|
Aaa |
|
AAA |
|
07/01/16 |
|
5.000 |
|
3,268,500 |
3,200 |
|
Los Angeles Water & Power Revenue Power Systems-Series A-A-1 (FSA Insured) |
|
Aaa |
|
AAA |
|
07/01/21 |
|
5.250 |
|
3,481,312 |
6,000 |
|
Los Angeles Water & Power Revenue Power Systems-Series A-A-1 (MBIA Insured) # |
|
Aaa |
|
AAA |
|
07/01/14 |
|
5.000 |
|
6,633,540 |
3,500 |
|
Metropolitan Water District of Southern California Waterworks-Series A |
|
Aaa |
|
AAA |
|
03/01/18 |
|
5.250 |
|
3,812,270 |
5,000 |
|
San Diego Unified School District Election
1998 |
|
Aaa |
|
AAA |
|
07/01/29 |
|
5.000 |
|
5,172,000 |
|
|
|
|
|
|
|
|
|
|
|
|
53,297,981 |
Colorado-1.11% |
|
|
|
|
|
|
|
|
||||
1,672 |
|
University of Colorado Participation Interests |
|
NR |
|
A+ |
|
12/01/13 |
|
6.000 |
|
1,813,922 |
Florida-6.45% |
|
|
|
|
|
|
|
|
||||
1,175 |
|
Gainesville Utilities Systems Revenue-Series A |
|
Aa2 |
|
AA |
|
10/01/20 |
|
5.250 |
|
1,293,170 |
2,000 |
|
Orlando Utilities Commission Water & Electric Revenue-Series A |
|
Aa1 |
|
AA |
|
10/01/19 |
|
5.000 |
|
2,139,240 |
6,425 |
|
Orlando Utilities Commission Water & Electric Revenue-Series C # |
|
Aa1 |
|
AA |
|
10/01/18 |
|
5.250 |
|
7,074,310 |
|
|
|
|
|
|
|
|
|
|
|
|
10,506,720 |
Illinois-4.48% |
|
|
|
|
|
|
|
|
||||
5,000 |
|
Chicago Parking District Parking Facility Revenue (Pre-refunded with U.S. Government Securities to 01/01/10 @ $100) |
|
Baa1 |
|
A |
|
01/01/14 |
|
6.250 |
|
5,776,950 |
1,200 |
|
Illinois Educational Facilities Authority Revenue-Augustana College-Series A |
|
Baa1 |
|
NR |
|
10/01/22 |
|
5.625 |
|
1,273,704 |
250 |
|
Metropolitan Pier & Exposition Authority |
|
A1 |
|
NR |
|
06/15/27 |
|
6.500 |
|
252,768 |
|
|
|
|
|
|
|
|
|
|
|
|
7,303,422 |
Indiana-7.25% |
|
|
|
|
|
|
|
|
||||
1,000 |
|
Clark Pleasant Community School Building Corp. First Mortgage (AMBAC Insured) |
|
Aaa |
|
AAA |
|
07/15/17 |
|
5.500 |
|
1,114,300 |
3,305 |
|
Indiana Transportation Financing Authority Airport Facilities Lease Revenue-Series A |
|
A1 |
|
AA |
|
11/01/12 |
|
5.500 |
|
3,416,081 |
1,430 |
|
Indiana Transportation Financing Authority Airport Facilities Lease Revenue-Series A |
|
A1 |
|
AA- |
|
11/01/16 |
|
6.250 |
|
1,434,190 |
2,000 |
|
Indiana Transportation Financing Authority Airport Facilities Lease Revenue-Series A |
|
A1 |
|
AA |
|
11/01/17 |
|
5.500 |
|
2,060,420 |
3,400 |
|
Marion County Convention & Recreational Facilities Authority Excise Tax Revenue-Series A (MBIA Insured) |
|
Aaa |
|
AAA |
|
06/01/17 |
|
5.500 |
|
3,785,628 |
|
|
|
|
|
|
|
|
|
|
|
|
11,810,619 |
Principal |
|
|
|
Moody's |
|
S&P |
|
Maturity |
|
Interest |
|
Value ($) |
Kentucky-4.93% |
|
|
|
|
|
|
|
|
|
|
||
7,750 |
|
Boone County Pollution Control Revenue-Dayton Power & Light Co.-Series A |
|
Baa3 |
|
BBB- |
|
11/15/22 |
|
6.500 |
|
8,033,650 |
Massachusetts-7.71% |
|
|
|
|
|
|
|
|
|
|
||
5,865 |
|
Massachusetts State Consolidated Loan-Series A |
|
Aa2 |
|
AA- |
|
08/01/16 |
|
5.000 |
|
6,485,282 |
2,000 |
|
Massachusetts State Water Pollution Abatement-Series A |
|
Aaa |
|
AAA |
|
08/01/20 |
|
5.250 |
|
2,185,460 |
1,305 |
|
University of Massachusetts Building Authority Revenue Refunding-Series 05-1 (AMBAC Insured)(a) |
|
Aaa |
|
AAA |
|
05/01/12 |
|
5.000 |
|
1,438,162 |
1,235 |
|
University of Massachusetts Building Authority Revenue Refunding-Series 05-1 (AMBAC Insured)(a) |
|
Aaa |
|
AAA |
|
05/01/13 |
|
5.000 |
|
1,362,798 |
1,000 |
|
University of Massachusetts Building Authority Revenue Refunding-Series 05-1 (AMBAC Insured)(a) |
|
Aaa |
|
AAA |
|
05/01/14 |
|
5.000 |
|
1,102,280 |
|
|
|
|
|
|
|
|
|
|
|
|
12,573,982 |
Michigan-4.81% |
|
|
|
|
|
|
|
|
|
|
||
3,425 |
|
Michigan State Building Authority Revenue Program-Series III |
|
Aa2 |
|
AA |
|
10/15/16 |
|
5.375 |
|
3,822,231 |
2,000 |
|
Michigan State Strategic Fund Limited Obligation Revenue-Ford Motor Co. Project-Series A |
|
Baa1 |
|
BBB- |
|
02/01/06 |
|
7.100 |
|
2,089,300 |
1,750 |
|
Michigan Municipal Bond Authority Clear Water Revenue |
|
Aaa |
|
AAA |
|
10/01/19 |
|
5.250 |
|
1,922,025 |
|
|
|
|
|
|
|
|
|
|
|
|
7,833,556 |
Minnesota-0.95% |
|
|
|
|
|
|
|
|
|
|
||
1,500 |
|
Shakopee Health Care Facilities-Saint Francis Regional Medical Center Revenue Refunding |
|
NR |
|
BBB |
|
09/01/17 |
|
5.000 |
|
1,544,295 |
Nevada-4.16% |
|
|
|
|
|
|
|
|
|
|
||
6,750 |
|
Clark County Pollution Control Revenue-Nevada Power Co. Project-Series B (FGIC Insured) |
|
Aaa |
|
AAA |
|
06/01/19 |
|
6.600 |
|
6,775,110 |
New Jersey-6.37% |
|
|
|
|
|
|
|
|
|
|
||
10,000 |
|
New Jersey State Educational Facilities Authority Revenue-Princeton University-Series D |
|
Aaa |
|
AAA |
|
07/01/29 |
|
5.000 |
|
10,390,900 |
New Mexico-2.80% |
|
|
|
|
|
|
|
|
|
|
||
3,000 |
|
New Mexico State Highway Commission Tax Revenue Sub-Lien-Series A |
|
Aa2 |
|
AA+ |
|
06/15/13 |
|
6.000 |
|
3,461,040 |
1,000 |
|
University of New Mexico Revenue Sub-Lien-Series A |
|
Aa3 |
|
AA |
|
06/01/16 |
|
5.250 |
|
1,105,850 |
|
|
|
|
|
|
|
|
|
|
|
|
4,566,890 |
New York-21.96% |
|
|
|
|
|
|
|
|
|
|
||
4,030 |
|
Long Island Power Authority Electric Systems Revenue-Series C |
|
Baa1 |
|
A- |
|
09/01/17 |
|
5.500 |
|
4,440,899 |
1,765 |
|
Metropolitan Transportation Authority New York Dedicated Tax Fund-Series A (FSA Insured) |
|
Aaa |
|
AAA |
|
11/15/24 |
|
5.250 |
|
1,894,162 |
5,000 |
|
New York City General Obligation-Series G |
|
A2 |
|
A |
|
08/01/09 |
|
5.000 |
|
5,422,900 |
2,500 |
|
New York City General Obligation-Series G |
|
A2 |
|
A |
|
08/01/13 |
|
5.000 |
|
2,715,025 |
1,625 |
|
Triborough Bridge & Tunnel Authority Revenue-Series B |
|
Aa3 |
|
AA- |
|
11/15/18 |
|
5.250 |
|
1,784,949 |
8,155 |
|
Triborough Bridge & Tunnel Authority Revenue-Series B # |
|
Aa3 |
|
AA- |
|
11/15/19 |
|
5.250 |
|
8,933,395 |
3,350 |
|
Triborough Bridge & Tunnel Authority Revenue-Series Y |
|
Aa3 |
|
AAA |
|
01/01/12 |
|
6.000 |
|
3,880,171 |
6,400 |
|
Triborough Bridge & Tunnel Authority Revenue-Subordinate Bonds |
|
A1 |
|
A+ |
|
11/15/30 |
|
5.250 |
|
6,728,448 |
|
|
|
|
|
|
|
|
|
|
|
|
35,799,949 |
North Carolina-7.03% |
|
|
|
|
|
|
|
|
|
|
||
5,000 |
|
North Carolina Eastern Municipal Power Agency-Series A (Escrowed to Maturity) |
|
Baa2 |
|
BBB |
|
01/01/11 |
|
5.500 |
|
5,455,000 |
2,000 |
|
North Carolina Eastern Municipal Power Agency-Series A (Escrowed to Maturity) |
|
Baa2 |
|
BBB |
|
01/01/12 |
|
5.500 |
|
2,185,420 |
3,065 |
|
North Carolina Eastern Municipal Power Agency-Series A (Escrowed to Maturity) |
|
Baa2 |
|
AAA |
|
01/01/21 |
|
6.400 |
|
3,814,699 |
|
|
|
|
|
|
|
|
|
|
|
|
11,455,119 |
Ohio-6.66% |
|
|
|
|
|
|
|
|
|
|
||
2,185 |
|
Ohio State Higher Education-Series B |
|
Aa1 |
|
AA+ |
|
11/01/17 |
|
5.250 |
|
2,410,689 |
8,000 |
|
Ohio State Water Development Authority-Water Quality Pollution Control |
|
Aaa |
|
AAA |
|
06/01/24 |
|
5.000 |
|
8,448,640 |
|
|
|
|
|
|
|
|
|
|
|
|
10,859,329 |
Oregon-0.67% |
|
|
|
|
|
|
|
|
|
|
||
1,000 |
|
Portland Sewer Systems Revenue-Series A |
|
Aaa |
|
AAA |
|
06/01/18 |
|
5.250 |
|
1,099,270 |
Pennsylvania-5.05% |
|
|
|
|
|
|
|
|
|
|
||
5,000 |
|
Northumberland County Authority-Guaranteed Lease Revenue-Mountain View Manor Project |
|
NR |
|
NR |
|
10/01/20 |
|
7.000 |
|
5,151,450 |
3,000 |
|
Susquehanna Area Regional Airport Authority-Airport Systems Revenue-Subseries D |
|
Baa2 |
|
NR |
|
01/01/18 |
|
5.375 |
|
3,083,400 |
|
|
|
|
|
|
|
|
|
|
|
|
8,234,850 |
Principal |
|
|
|
Moody's |
|
S&P |
|
Maturity |
|
Interest |
|
Value ($) |
Puerto Rico-8.92% |
|
|
|
|
|
|
|
|
|
|
||
8,010 |
|
Puerto Rico Commonwealth Refunding-Public Improvement-Series C |
|
Baa1 |
|
A- |
|
07/01/18 |
|
5.000 |
|
8,589,523 |
3,000 |
|
Puerto Rico Housing Finance Authority-Capital Funding Program (HUD Insured) |
|
Aa3 |
|
AA |
|
12/01/18 |
|
5.000 |
|
3,204,480 |
2,425 |
|
Puerto Rico Public Buildings Authority Revenue-Guaranteed Government Facilities-Series D (Pre-refunded with U.S. Government Securities to 07/01/2012 @ 100) |
|
Baa1 |
|
A- |
|
07/01/13 |
|
5.375 |
|
2,739,717 |
|
|
|
|
|
|
|
|
|
|
|
|
14,533,720 |
Rhode Island-0.09% |
|
|
|
|
|
|
|
|
|
|
||
145 |
|
Rhode Island Housing & Mortgage Finance Corp. Homeownership Opportunity-Series 10-A |
|
Aa2 |
|
AA+ |
|
04/01/27 |
|
6.500 |
|
145,175 |
South Carolina-0.67% |
|
|
|
|
|
|
|
|
|
|
||
1,000 |
|
Greenville Waterworks Revenue |
|
Aa1 |
|
AAA |
|
02/01/20 |
|
5.250 |
|
1,092,940 |
South Dakota-2.97% |
|
|
|
|
|
|
|
|
|
|
||
3,441 |
|
Lower Brule Sioux Tribe ** |
|
NR |
|
NR |
|
08/15/15 |
|
6.000 |
|
3,478,026 |
1,323 |
|
Standing Rock South Dakota New Public Housing ** |
|
NR |
|
NR |
|
08/07/13 |
|
6.000 |
|
1,357,796 |
|
|
|
|
|
|
|
|
|
|
|
|
4,835,822 |
Tennessee-1.64% |
|
|
|
|
|
|
|
|
|
|
||
2,500 |
|
Memphis-Shelby County Airport Authority Special Facilities Revenue-Federal Express Corp. |
|
Baa2 |
|
BBB |
|
09/01/09 |
|
5.000 |
|
2,666,700 |
Texas-16.53% |
|
|
|
|
|
|
|
|
|
|
||
2,475 |
|
Alvin Independent School District School House-Series A |
|
Aaa |
|
AAA |
|
02/15/17 |
|
5.375 |
|
2,738,909 |
4,000 |
|
Coastal Bend Health Facilities Development-Incarnate Word Health System (Escrowed to Maturity) (AMBAC Insured) |
|
Aaa |
|
AAA |
|
01/01/17 |
|
6.300 |
|
4,689,680 |
1,335 |
|
Eagle Mountain & Saginaw Independent School District Unlimited Tax-School Building |
|
Aaa |
|
AAA |
|
08/15/14 |
|
5.375 |
|
1,488,685 |
2,825 |
|
Fort Worth Water & Sewer Revenue |
|
Aa2 |
|
AA |
|
02/15/16 |
|
5.625 |
|
3,172,023 |
6,987 |
|
Harris County Texas Lease @ |
|
NR |
|
NR |
|
05/01/20 |
|
6.750 |
|
6,829,138 |
3,007 |
|
Houston Community College System Certificates of Participation @ |
|
NR |
|
NR |
|
06/15/25 |
|
7.875 |
|
3,132,491 |
1,485 |
|
Lower Colorado River Authority Transmission Contract Revenue |
|
Aaa |
|
AAA |
|
05/15/20 |
|
5.250 |
|
1,607,542 |
3,000 |
|
San Antonio Electric & Gas Revenue |
|
Aa1 |
|
AA+ |
|
02/01/20 |
|
5.375 |
|
3,285,090 |
|
|
|
|
|
|
|
|
|
|
|
|
26,943,558 |
Washington-4.62% |
|
|
|
|
|
|
|
|
||||
1,920 |
|
Metropolitan Park District Tacoma (AMBAC Insured) |
|
Aaa |
|
AAA |
|
12/01/14 |
|
6.000 |
|
2,217,255 |
1,115 |
|
Metropolitan Park District Tacoma (AMBAC Insured) |
|
Aaa |
|
AAA |
|
12/01/16 |
|
6.000 |
|
1,292,307 |
3,555 |
|
Washington State Public Power Supply Systems Nuclear Project No. 1-Series B |
|
Aaa |
|
AA- |
|
07/01/09 |
|
7.250 |
|
4,017,470 |
|
|
|
|
|
|
|
|
|
|
|
|
7,527,032 |
Total Long-Term Municipal Bonds (cost-$257,178,557) |
|
|
|
|
|
|
|
|
|
266,041,805 |
||
Short-Term Municipal Notes-4.12% |
|
|
|
|
|
|
|
|
|
|
||
Nebraska-0.63% |
|
|
|
|
|
|
|
|
||||
1,025 |
|
Sarpy County Hospital Authority No.1 Health Facilities Revenue-Immanuel Health Systems-Series B |
|
NR |
|
A1+ |
|
01/03/05 |
|
2.190* |
|
1,025,000 |
Texas-3.49% |
|
|
|
|
|
|
|
|
|
|
||
5,700 |
|
Harris County Health Facilities Development Corp. Revenue-Methodist Hospital |
|
NR |
|
A1+ |
|
01/03/05 |
|
2.200* |
|
5,700,000 |
Total Short-Term Municipal Notes (cost-$6,725,000) |
|
|
|
|
|
|
|
|
|
6,725,000 |
||
Total Investments (cost-$263,903,557)(1)(2)-167.34% |
|
|
|
|
|
|
|
|
|
272,766,805 |
||
Other assets in excess of liabilities-0.14% |
|
|
|
|
|
|
|
|
|
233,488 |
||
Liquidation value of auction preferred shares-(67.48)% |
|
|
|
|
|
|
|
|
|
(110,000,000) |
||
Net Assets applicable to common shareholders-100.00% |
|
|
|
|
|
|
|
|
|
163,000,293 |
|
The maturity date reflects the mandatory date bond will be put back to issuer. |
|
Illiquid and restricted securities representing 9.08% of net assets applicable to common shareholders. |
* |
Variable rate demand notes are payable on demand. The maturity dates shown are the next interest rate reset dates. The interest rates shown are the current rates as of December 31, 2004. |
** |
Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities, which represent 2.97% of net assets applicable to common shareholders as of December 31, 2004, are considered illiquid and restricted. (See table below for more information). |
Restricted Securities |
|
Acquisition |
|
Acquisition |
|
Acquisition Cost |
Market |
|
Market Value |
|||
Lower Brule Sioux Tribe, 6.000%, 08/15/15 |
09/06/01 |
|
4,063,910 |
|
2.49 |
|
3,478,026 |
|
2.14 |
|
||
Standing Rock South Dakota New Public Housing,
|
08/08/02 |
|
1,567,606 |
|
0.96 |
|
1,357,796 |
|
0.83 |
|
||
|
|
|
|
5,631,516 |
|
3.45 |
|
4,835,822 |
|
2.97 |
|
@ |
The securities detailed in the table below are considered illiquid and restricted which represent 6.11% of net assets applicable to common shareholders as of December 31, 2004. |
Restricted Securities |
|
Acquisition |
|
Acquisition |
|
Acquisition Cost |
Market |
|
Market Value |
|||
Harris County Texas Lease, 6.750%, 05/01/20 |
09/07/00 |
|
8,031,911 |
|
4.93 |
|
6,829,138 |
|
4.19 |
|
||
Houston Community College System Certificates of Participation, 7.875%, 06/15/25 |
04/22/02 |
|
3,070,905 |
|
1.88 |
|
3,132,491 |
|
1.92 |
|
||
|
|
|
|
11,102,816 |
|
6.81 |
|
9,961,629 |
|
6.11 |
|
# |
Entire or partial amount pledged as collateral for future transactions. |
(a) |
Security purchased on a when-issued basis. When issued refers to a transaction made conditionally because a security, although authorized, has not yet been issued. |
(1) |
Cost of investments shown approximates cost for federal income tax purposes. Gross unrealized appreciation of investments and gross unrealized depreciation of investments at December 31, 2004 were $9,299,375 and $436,127, respectively, resulting in net unrealized appreciation of investments of $8,863,248. |
(2) |
The Fund calculates net asset values based on the current market value for its portfolio's securities. The Fund normally obtains market values for its securities from independent pricing sources and broker-dealers. Independent pricing sources may use last reported sale prices, current market quotations or valuations from computerized "matrix" systems that derive values based on comparable securities. A matrix system incorporates parameters such as security quality, maturity and coupon, and/or research and evaluations by its staff, including review of broker-dealer market price quotations, if available, in determining the valuation of the portfolio securities. If a market value is not available from an independent pricing source for a particular security, that security is valued at fair value as determined in good faith by or under the direction of the Fund's Board of Directors (the "Board"). The amortized cost method of valuation, which approximates market value, generally is used to value short-term debt instruments with sixty days or less remaining to maturity, unless the Board determines that this does not represent fair value. Securities traded in the over-the-counter ("OTC") market are valued at the last bid price available on the valuation date prior to valuation. |
NR
|
- Not Rated
|
AMBAC |
- American Municipal Bond Assurance Corporation |
FGIC |
- Financial Guaranty Insurance Company |
FSA |
- Financial Security Assurance |
HUD |
- Housing and Urban Development |
MBIA |
- Municipal Bond Investors Assurance |
Number of Contracts |
|
Contract to Receive |
|
In Exchange For ($) |
|
Expiration Date |
|
Unrealized |
||
Futures Contracts |
|
|
|
|
|
|
|
|
||
255 |
|
U.S. Treasury Note 10 Year Futures |
|
|
28,476,301 |
|
March 2005 |
|
|
(67,762) |
For more information regarding the Fund's other significant accounting policies, please refer to the Fund's annual report to shareholders dated September 30, 2004.
ITEM 2. CONTROLS AND PROCEDURES. (a) The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended ("Investment Company Act")), are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document. (b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) 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. (a) Certifications of principal executive officer and principal financial officer of registrant pursuant to Rule 30a-2(a) under the Investment Company Act is attached hereto as Exhibit EX-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. Investment Grade Municipal Income Fund Inc. By: /s/ Joseph A. Varnas --------------------- Joseph A. Varnas President Date: February 28, 2005 ----------------- Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ Joseph A. Varnas --------------------- Joseph A. Varnas President Date: February 28, 2005 ----------------- By: /s/ Thomas Disbrow ------------------ Thomas Disbrow Treasurer Date: February 28, 2005 -----------------