form853.htm - Generated by SEC Publisher for SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
|
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT |
INVESTMENT COMPANY |
|
|
Investment Company Act file number |
811-5245 |
Dreyfus Strategic Municipals, Inc.
(Exact name of Registrant as specified in charter) |
c/o The Dreyfus Corporation
200 Park Avenue
New York, New York 10166
(Address of principal executive offices) (Zip code) |
Michael A. Rosenberg, Esq.
200 Park Avenue
New York, New York 10166
(Name and address of agent for service) |
|
|
|
Registrant's telephone number, including area code: |
(212) 922-6000 |
Date of fiscal year end: |
9/30 |
|
Date of reporting period: |
6/30/2009 |
|
|
|
Item 1. |
Schedule of Investments. |
-2-
|
|
|
|
|
STATEMENT OF INVESTMENTS |
|
|
|
Dreyfus Strategic Municipals, Inc. |
|
|
|
|
June 30, 2009 (Unaudited) |
|
|
|
|
Long-Term Municipal |
Coupon |
Maturity |
Principal |
|
Investments--160.6% |
Rate (%) |
Date |
Amount ($) |
Value ($) |
|
|
|
|
|
Alabama--1.8% |
|
|
|
|
Houston County Health Care |
|
|
|
|
Authority, GO (Insured; AMBAC) |
|
|
|
|
(Prerefunded) |
6.25 |
10/1/09 |
8,000,000 a |
8,198,960 |
Alaska--.3% |
|
|
|
|
Alaska Housing Finance |
|
|
|
|
Corporation, General Mortgage |
|
|
|
|
Revenue (Insured; National |
|
|
|
|
Public Finance Guarantee Corp.) |
6.00 |
6/1/49 |
1,335,000 |
1,343,410 |
Arizona--5.0% |
|
|
|
|
Arizona Housing Finance Authority, |
|
|
|
|
SFMR (Mortgage-Backed |
|
|
|
|
Securities Program) |
|
|
|
|
(Collateralized: FHLMC, FNMA |
|
|
|
|
and GNMA) |
5.55 |
12/1/41 |
6,000,000 |
5,911,740 |
Glendale Western Loop 101 Public |
|
|
|
|
Facilities Corporation, Third |
|
|
|
|
Lien Excise Tax Revenue |
6.25 |
7/1/38 |
5,000,000 |
5,157,800 |
Maricopa County Pollution Control |
|
|
|
|
Corporation, PCR (Public |
|
|
|
|
Service Company of New Mexico |
|
|
|
|
Palo Verde Project) |
5.75 |
11/1/22 |
6,000,000 |
5,425,860 |
Scottsdale Industrial Development |
|
|
|
|
Authority, HR (Scottsdale |
|
|
|
|
Healthcare) (Prerefunded) |
5.80 |
12/1/11 |
6,000,000 a |
6,706,440 |
Arkansas--.5% |
|
|
|
|
Arkansas Development Finance |
|
|
|
|
Authority, SFMR (Mortgage |
|
|
|
|
Backed Securities Program) |
|
|
|
|
(Collateralized: FNMA and GNMA) |
6.25 |
1/1/32 |
2,110,000 |
2,115,254 |
California--14.9% |
|
|
|
|
Beverly Hills Unified School |
|
|
|
|
|
|
|
|
|
District, GO |
0.00 |
8/1/30 |
10,850,000 b |
3,378,798 |
California, |
|
|
|
|
GO (Various Purpose) |
5.75 |
4/1/31 |
10,800,000 |
10,460,448 |
California, |
|
|
|
|
GO (Various Purpose) |
6.50 |
4/1/33 |
10,000,000 |
10,507,100 |
California Pollution Control |
|
|
|
|
Financing Authority, SWDR |
|
|
|
|
(Keller Canyon Landfill |
|
|
|
|
Company Project) |
6.88 |
11/1/27 |
2,000,000 |
2,000,620 |
California Statewide Communities |
|
|
|
|
Development Authority, |
|
|
|
|
Environmental Facilities |
|
|
|
|
Revenue (Microgy Holdings |
|
|
|
|
Project) |
9.00 |
12/1/38 |
3,000,000 |
2,415,660 |
California Statewide Communities |
|
|
|
|
Development Authority, Revenue |
|
|
|
|
(Bentley School) |
6.75 |
7/1/32 |
1,960,000 |
1,594,166 |
California Statewide Communities |
|
|
|
|
Development Authority, Revenue |
|
|
|
|
(Daughters of Charity Health |
|
|
|
|
System) |
5.25 |
7/1/30 |
3,000,000 |
2,374,140 |
California Statewide Communities |
|
|
|
|
Development Authority, Revenue |
|
|
|
|
(Daughters of Charity Health |
|
|
|
|
System) |
5.00 |
7/1/39 |
5,000,000 |
3,507,400 |
California Statewide Communities |
|
|
|
|
Development Authority, Student |
|
|
|
|
Housing Revenue (CHF-Irvine, |
|
|
|
|
LLC-UCI East Campus |
|
|
|
|
Apartments, Phase II) |
5.75 |
5/15/32 |
2,500,000 |
2,158,575 |
Golden State Tobacco |
|
|
|
|
Securitization Corporation, |
|
|
|
|
Tobacco Settlement |
|
|
|
|
Asset-Backed Bonds |
4.50 |
6/1/27 |
5,000,000 |
4,154,250 |
Golden State Tobacco |
|
|
|
|
Securitization Corporation, |
|
|
|
|
Tobacco Settlement |
|
|
|
|
Asset-Backed Bonds |
5.00 |
6/1/33 |
5,775,000 |
3,785,108 |
Golden State Tobacco |
|
|
|
|
Securitization Corporation, |
|
|
|
|
|
|
|
|
|
Tobacco Settlement |
|
|
|
|
Asset-Backed Bonds |
5.75 |
6/1/47 |
7,050,000 |
4,257,565 |
Golden State Tobacco |
|
|
|
|
Securitization Corporation, |
|
|
|
|
Tobacco Settlement |
|
|
|
|
Asset-Backed Bonds |
|
|
|
|
(Prerefunded) |
7.80 |
6/1/13 |
8,100,000 a |
9,734,418 |
Golden State Tobacco |
|
|
|
|
Securitization Corporation, |
|
|
|
|
Tobacco Settlement |
|
|
|
|
Asset-Backed Bonds |
|
|
|
|
(Prerefunded) |
7.90 |
6/1/13 |
2,000,000 a |
2,410,660 |
San Diego Public Facilities |
|
|
|
|
Financing Authority, Senior |
|
|
|
|
Sewer Revenue |
5.25 |
5/15/34 |
2,500,000 |
2,476,200 |
Tuolumne Wind Project Authority, |
|
|
|
|
Revenue (Tuolumne Company |
|
|
|
|
Project) |
5.88 |
1/1/29 |
3,500,000 c |
3,559,850 |
Colorado--5.0% |
|
|
|
|
Beacon Point Metropolitan |
|
|
|
|
District, GO |
6.25 |
12/1/35 |
2,000,000 |
1,358,400 |
Colorado Educational and Cultural |
|
|
|
|
Facilities Authority, Charter |
|
|
|
|
School Revenue (American |
|
|
|
|
Academy Project) |
8.00 |
12/1/40 |
3,500,000 |
3,843,630 |
Colorado Health Facilities |
|
|
|
|
Authority, Revenue (American |
|
|
|
|
Baptist Homes of the Midwest |
|
|
|
|
Obligated Group) |
5.90 |
8/1/37 |
3,000,000 |
2,116,620 |
Colorado Housing and Finance |
|
|
|
|
Authority, Single Family |
|
|
|
|
Program Senior and Subordinate |
|
|
|
|
Bonds (Collateralized; FHA) |
6.60 |
8/1/32 |
1,445,000 |
1,500,040 |
Northwest Parkway Public Highway |
|
|
|
|
Authority, Revenue |
|
|
|
|
(Prerefunded) |
7.13 |
6/15/11 |
10,455,000 a |
11,609,546 |
Southlands Metropolitan District |
|
|
|
|
Number 1, GO (Prerefunded) |
7.13 |
12/1/14 |
2,000,000 a |
2,483,820 |
Florida--7.8% |
|
|
|
|
Clearwater, |
|
|
|
|
|
|
|
|
|
Water and Sewer Revenue |
5.25 |
12/1/39 |
5,000,000 |
4,919,150 |
Florida Housing Finance |
|
|
|
|
Corporation, Housing Revenue |
|
|
|
|
(Nelson Park Apartments) |
|
|
|
|
(Insured; FSA) |
6.40 |
3/1/40 |
12,380,000 |
12,520,761 |
Greater Orlando Aviation |
|
|
|
|
Authority, Airport Facilities |
|
|
|
|
Revenue |
6.25 |
10/1/20 |
8,000,000 |
8,351,120 |
Jacksonville Economic Development |
|
|
|
|
Commission, Health Care |
|
|
|
|
Facilities Revenue (Florida |
|
|
|
|
Proton Therapy Institute |
|
|
|
|
Project) |
6.25 |
9/1/27 |
3,000,000 d |
2,416,920 |
Orange County Health Facilities |
|
|
|
|
Authority, HR (Orlando |
|
|
|
|
Regional Healthcare System) |
6.00 |
10/1/26 |
1,955,000 |
1,934,101 |
Orange County Health Facilities |
|
|
|
|
Authority, HR (Orlando |
|
|
|
|
Regional Healthcare System) |
|
|
|
|
(Prerefunded) |
6.00 |
10/1/09 |
45,000 a |
46,078 |
Orange County School Board, |
|
|
|
|
COP (Master Lease Purchase |
|
|
|
|
Agreement) (Insured; Assured |
|
|
|
|
Guaranty) |
5.50 |
8/1/34 |
6,000,000 |
6,041,700 |
Georgia--5.2% |
|
|
|
|
Atlanta, |
|
|
|
|
Water and Wastewater Revenue |
6.00 |
11/1/27 |
6,000,000 |
5,992,800 |
Brooks County Development |
|
|
|
|
Authority, Senior Health and |
|
|
|
|
Housing Facilities Revenue |
|
|
|
|
(Presbyterian Home, Quitman, |
|
|
|
|
Inc.) (Collateralized; GNMA) |
5.70 |
1/20/39 |
4,445,000 |
4,504,652 |
Fulton County Development |
|
|
|
|
Authority, Revenue (Georgia |
|
|
|
|
Tech North Avenue Apartments |
|
|
|
|
Project) (Insured; XLCA) |
5.00 |
6/1/32 |
2,500,000 |
2,433,375 |
Georgia Higher Education |
|
|
|
|
Facilities Authority, Revenue |
|
|
|
|
(USG Real Estate Foundation I, |
|
|
|
|
LLC Project) (Insured; Assured |
|
|
|
|
|
|
|
|
|
Guaranty) |
5.63 |
6/15/38 |
6,000,000 |
6,146,100 |
Milledgeville-Baldwin County |
|
|
|
|
Development Authority, Revenue |
|
|
|
|
(Georgia College and State |
|
|
|
|
Foundation) |
6.00 |
9/1/13 |
2,090,000 |
2,445,425 |
Milledgeville-Baldwin County |
|
|
|
|
Development Authority, Revenue |
|
|
|
|
(Georgia College and State |
|
|
|
|
Foundation) (Prerefunded) |
6.00 |
9/1/14 |
2,000,000 a |
2,402,560 |
Hawaii--.3% |
|
|
|
|
Hawaii Department of |
|
|
|
|
Transportation, Special |
|
|
|
|
Facility Revenue (Caterair |
|
|
|
|
International Corporation) |
10.13 |
12/1/10 |
1,400,000 |
1,353,044 |
Idaho--1.0% |
|
|
|
|
Power County Industrial |
|
|
|
|
Development Corporation, SWDR |
|
|
|
|
(FMC Corporation Project) |
6.45 |
8/1/32 |
5,000,000 |
4,395,350 |
Illinois--10.1% |
|
|
|
|
Chicago, |
|
|
|
|
GO (Insured; FGIC) |
|
|
|
|
(Prerefunded) |
6.13 |
7/1/10 |
14,565,000 a |
15,520,027 |
Chicago, |
|
|
|
|
SFMR (Collateralized: FHLMC, |
|
|
|
|
FNMA and GNMA) |
6.55 |
4/1/33 |
1,960,000 |
2,029,796 |
Chicago, |
|
|
|
|
Wastewater Transmission |
|
|
|
|
Revenue (Insured; National |
|
|
|
|
Public Finance Guarantee |
|
|
|
|
Corp.) (Prerefunded) |
6.00 |
1/1/10 |
3,000,000 a |
3,112,140 |
Illinois Finance Authority, |
|
|
|
|
Revenue (Edward Hospital |
|
|
|
|
Obligated Group) (Insured; |
|
|
|
|
AMBAC) |
5.50 |
2/1/40 |
3,500,000 |
3,049,480 |
Illinois Health Facilities |
|
|
|
|
Authority, Revenue (Advocate |
|
|
|
|
Health Care Network) |
|
|
|
|
(Prerefunded) |
6.13 |
11/15/10 |
4,020,000 a |
4,322,264 |
Illinois Health Facilities |
|
|
|
|
Authority, Revenue (OSF |
|
|
|
|
|
|
|
|
|
Healthcare System) |
|
|
|
|
(Prerefunded) |
6.25 |
11/15/09 |
7,730,000 a |
7,973,572 |
Illinois Health Facilities |
|
|
|
|
Authority, Revenue (Swedish |
|
|
|
|
American Hospital) |
|
|
|
|
(Prerefunded) |
6.88 |
5/15/10 |
4,945,000 a |
5,222,316 |
Metropolitan Pier and Exposition |
|
|
|
|
Authority, State Tax Revenue |
|
|
|
|
(McCormick Place Expansion |
|
|
|
|
Project) (Insured; National |
|
|
|
|
Public Finance Guarantee Corp.) |
5.25 |
6/15/42 |
5,325,000 |
5,259,077 |
Indiana--2.3% |
|
|
|
|
Franklin Township School Building |
|
|
|
|
Corporation, First Mortgage |
|
|
|
|
Bonds (Prerefunded) |
6.13 |
7/15/10 |
6,500,000 a |
7,011,550 |
Petersburg, |
|
|
|
|
SWDR (Indianapolis Power and |
|
|
|
|
Light Company Project) |
6.38 |
11/1/29 |
4,150,000 |
3,497,537 |
Kansas--5.3% |
|
|
|
|
Kansas Development Finance |
|
|
|
|
Authority, Health Facilities |
|
|
|
|
Revenue (Sisters of Charity of |
|
|
|
|
Leavenworth Health Services |
|
|
|
|
Corporation) |
6.25 |
12/1/28 |
3,000,000 |
3,043,560 |
Sedgwick and Shawnee Counties, |
|
|
|
|
SFMR (Mortgage-Backed |
|
|
|
|
Securities Program) |
|
|
|
|
(Collateralized: FNMA and GNMA) |
6.30 |
12/1/32 |
3,055,000 |
3,102,719 |
Sedgwick and Shawnee Counties, |
|
|
|
|
SFMR (Mortgage-Backed |
|
|
|
|
Securities Program) |
|
|
|
|
(Collateralized: FNMA and GNMA) |
6.45 |
12/1/33 |
6,215,000 |
6,496,477 |
Sedgwick and Shawnee Counties, |
|
|
|
|
SFMR (Mortgage-Backed |
|
|
|
|
Securities Program) |
|
|
|
|
(Collateralized: FNMA and GNMA) |
5.70 |
12/1/35 |
1,785,000 |
1,675,347 |
Wichita, |
|
|
|
|
Hospital Facilities |
|
|
|
|
Improvement Revenue (Via |
|
|
|
|
Christi Health System, Inc.) |
6.25 |
11/15/24 |
10,000,000 |
10,124,700 |
|
|
|
|
|
Kentucky--2.0% |
|
|
|
|
Kentucky Area Development |
|
|
|
|
Districts Financing Trust, COP |
|
|
|
|
(Lease Acquisition Program) |
5.50 |
5/1/27 |
2,000,000 |
1,980,560 |
Louisville/Jefferson County Metro |
|
|
|
|
Government, Health Facilities |
|
|
|
|
Revenue (Jewish Hospital and |
|
|
|
|
Saint Mary's HealthCare, Inc. |
|
|
|
|
Project) |
6.13 |
2/1/37 |
2,300,000 |
2,302,116 |
Paducah Electric Plant Board, |
|
|
|
|
Revenue (Insured; Assured |
|
|
|
|
Guaranty) |
5.25 |
10/1/35 |
5,000,000 |
5,029,900 |
Louisiana--1.7% |
|
|
|
|
Lakeshore Villages Master |
|
|
|
|
Community Development |
|
|
|
|
District, Special Assessment |
|
|
|
|
Revenue |
5.25 |
7/1/17 |
2,979,000 |
2,316,232 |
Louisiana Local Government |
|
|
|
|
Environmental Facilities and |
|
|
|
|
Community Development |
|
|
|
|
Authority, Revenue (Westlake |
|
|
|
|
Chemical Corporation Projects) |
6.75 |
11/1/32 |
7,000,000 |
5,663,770 |
Maine--.6% |
|
|
|
|
Maine Housing Authority, |
|
|
|
|
Mortgage Purchase Bonds |
5.30 |
11/15/23 |
2,825,000 |
2,848,871 |
Maryland--1.9% |
|
|
|
|
Maryland Community Development |
|
|
|
|
Administration, Department of |
|
|
|
|
Housing and Community |
|
|
|
|
Development, Residential |
|
|
|
|
Revenue |
5.75 |
9/1/37 |
2,215,000 |
2,244,393 |
Maryland Economic Development |
|
|
|
|
Corporation, Senior Student |
|
|
|
|
Housing Revenue (University of |
|
|
|
|
Maryland, Baltimore Project) |
5.75 |
10/1/33 |
4,590,000 |
2,857,000 |
Maryland Economic Development |
|
|
|
|
Corporation, Student Housing |
|
|
|
|
Revenue (University of |
|
|
|
|
Maryland, College Park |
|
|
|
|
Project) (Prerefunded) |
6.50 |
6/1/13 |
3,000,000 a |
3,548,100 |
|
|
|
|
|
Massachusetts--2.2% |
|
|
|
|
Massachusetts Health and |
|
|
|
|
Educational Facilities |
|
|
|
|
Authority, Revenue (Civic |
|
|
|
|
Investments Issue) |
|
|
|
|
(Prerefunded) |
9.00 |
12/15/12 |
1,600,000 a |
1,927,872 |
Massachusetts Health and |
|
|
|
|
Educational Facilities |
|
|
|
|
Authority, Revenue (Partners |
|
|
|
|
HealthCare System Issue) |
5.75 |
7/1/32 |
185,000 |
187,028 |
Massachusetts Housing Finance |
|
|
|
|
Agency, Rental Housing |
|
|
|
|
Mortgage Revenue (Insured; |
|
|
|
|
AMBAC) |
5.50 |
7/1/40 |
4,000,000 |
3,080,920 |
Massachusetts Industrial Finance |
|
|
|
|
Agency, RRR (Ogden Haverhill |
|
|
|
|
Project) |
5.60 |
12/1/19 |
6,000,000 |
4,860,720 |
Michigan--8.4% |
|
|
|
|
Charyl Stockwell Academy, |
|
|
|
|
COP |
5.90 |
10/1/35 |
2,580,000 |
1,742,326 |
Detroit, |
|
|
|
|
Sewage Disposal System Senior |
|
|
|
|
Lien Revenue (Insured; FSA) |
7.50 |
7/1/33 |
4,500,000 |
5,189,085 |
Detroit School District, |
|
|
|
|
School Building and Site |
|
|
|
|
Improvement Bonds (GO - |
|
|
|
|
Unlimited Tax) (Insured; FGIC) |
5.00 |
5/1/28 |
6,930,000 |
6,306,577 |
Kent Hospital Finance Authority, |
|
|
|
|
Revenue (Metropolitan Hospital |
|
|
|
|
Project) |
6.00 |
7/1/35 |
5,930,000 |
4,417,850 |
Kent Hospital Finance Authority, |
|
|
|
|
Revenue (Metropolitan Hospital |
|
|
|
|
Project) |
6.25 |
7/1/40 |
3,000,000 |
2,267,280 |
Michigan Strategic Fund, |
|
|
|
|
LOR (The Detroit Edison |
|
|
|
|
Company Exempt Facilities |
|
|
|
|
Project) (Insured; XLCA) |
5.25 |
12/15/32 |
3,000,000 |
2,718,600 |
Michigan Strategic Fund, |
|
|
|
|
SWDR (Genesee Power Station |
|
|
|
|
Project) |
7.50 |
1/1/21 |
12,400,000 |
10,203,464 |
|
|
|
|
|
Royal Oak Hospital Finance |
|
|
|
|
Authority, HR (William |
|
|
|
|
Beaumont Hospital Obligated |
|
|
|
|
Group) |
8.25 |
9/1/39 |
5,500,000 |
6,172,430 |
Minnesota--5.8% |
|
|
|
|
Dakota County Community |
|
|
|
|
Development Agency, SFMR |
|
|
|
|
(Mortgage-Backed Securities |
|
|
|
|
Program) (Collateralized: |
|
|
|
|
FHLMC, FNMA and GNMA) |
5.15 |
12/1/38 |
2,328,983 |
2,307,976 |
Dakota County Community |
|
|
|
|
Development Agency, SFMR |
|
|
|
|
(Mortgage-Backed Securities |
|
|
|
|
Program) (Collateralized: |
|
|
|
|
FHLMC, FNMA and GNMA) |
5.30 |
12/1/39 |
2,596,246 |
2,593,883 |
Duluth Economic Development |
|
|
|
|
Authority, Health Care |
|
|
|
|
Facilities Revenue (Saint |
|
|
|
|
Luke's Hospital) |
7.25 |
6/15/32 |
5,000,000 |
4,423,300 |
Minneapolis. |
|
|
|
|
Health Care System Revenue |
|
|
|
|
(Fairview Health Services) |
|
|
|
|
(Insured; Assured Guaranty) |
6.50 |
11/15/38 |
5,000,000 |
5,492,700 |
North Oaks, |
|
|
|
|
Senior Housing Revenue |
|
|
|
|
(Presbyterian Homes of North |
|
|
|
|
Oaks, Inc. Project) |
6.25 |
10/1/47 |
5,265,000 |
4,266,019 |
Saint Paul Housing and |
|
|
|
|
Redevelopment Authority, |
|
|
|
|
Hospital Facility Revenue |
|
|
|
|
(HealthEast Project) |
6.00 |
11/15/30 |
3,500,000 |
2,754,010 |
Saint Paul Housing and |
|
|
|
|
Redevelopment Authority, |
|
|
|
|
Hospital Facility Revenue |
|
|
|
|
(HealthEast Project) |
6.00 |
11/15/35 |
500,000 |
381,255 |
Winona, |
|
|
|
|
Health Care Facilities Revenue |
|
|
|
|
(Winona Health Obligated Group) |
6.00 |
7/1/26 |
5,000,000 |
4,779,600 |
Mississippi--4.7% |
|
|
|
|
Clairborne County, |
|
|
|
|
PCR (System Energy Resources, |
|
|
|
|
|
|
|
|
|
Inc. Project) |
6.20 |
2/1/26 |
4,545,000 |
4,159,948 |
Mississippi Business Finance |
|
|
|
|
Corporation, PCR (System |
|
|
|
|
Energy Resources, Inc. Project) |
5.88 |
4/1/22 |
14,310,000 |
13,015,231 |
Warren County, |
|
|
|
|
Gulf Opportunity Zone Revenue |
|
|
|
|
(International Paper Company |
|
|
|
|
Projects) |
6.50 |
9/1/32 |
5,000,000 |
4,553,900 |
Missouri--3.2% |
|
|
|
|
Missouri Development Finance |
|
|
|
|
Board, Infrastructure |
|
|
|
|
Facilities Revenue (Branson |
|
|
|
|
Landing Project) |
5.38 |
12/1/27 |
2,000,000 |
1,752,500 |
Missouri Development Finance |
|
|
|
|
Board, Infrastructure |
|
|
|
|
Facilities Revenue (Branson |
|
|
|
|
Landing Project) |
5.50 |
12/1/32 |
4,500,000 |
3,856,500 |
Missouri Development Finance |
|
|
|
|
Board, Infrastructure |
|
|
|
|
Facilities Revenue |
|
|
|
|
(Independence, Crackerneck |
|
|
|
|
Creek Project) |
5.00 |
3/1/28 |
2,000,000 |
1,855,420 |
Missouri Health and Educational |
|
|
|
|
Facilities Authority, Health |
|
|
|
|
Facilities Revenue (Saint |
|
|
|
|
Anthony's Medical Center) |
|
|
|
|
(Prerefunded) |
6.25 |
12/1/10 |
6,750,000 a |
7,320,578 |
Montana--.2% |
|
|
|
|
Montana Board of Housing, |
|
|
|
|
SFMR |
6.45 |
6/1/29 |
1,105,000 |
1,121,177 |
Nevada--2.7% |
|
|
|
|
Washoe County, |
|
|
|
|
GO Convention Center Revenue |
|
|
|
|
(Reno-Sparks Convention and |
|
|
|
|
Visitors Authority) (Insured; |
|
|
|
|
FSA) (Prerefunded) |
6.40 |
1/1/10 |
12,000,000 a |
12,352,920 |
New Hampshire--3.0% |
|
|
|
|
New Hampshire Business Finance |
|
|
|
|
Authority, PCR (Public Service |
|
|
|
|
Company of New Hampshire) |
|
|
|
|
|
|
|
|
|
(Insured; AMBAC) |
6.00 |
5/1/21 |
7,000,000 |
6,947,290 |
New Hampshire Health and |
|
|
|
Educational Facilities |
|
|
|
Authority, Revenue (Exeter |
|
|
|
Project) |
6.00 |
10/1/24 |
1,000,000 |
1,005,090 |
New Hampshire Health and |
|
|
|
Educational Facilities |
|
|
|
Authority, Revenue (Exeter |
|
|
|
Project) |
5.75 |
10/1/31 |
1,000,000 |
955,240 |
New Hampshire Industrial |
|
|
|
Development Authority, PCR |
|
|
|
(Connecticut Light and Power |
|
|
|
Company Project) |
5.90 |
11/1/16 |
5,000,000 |
5,000,200 |
New Jersey--3.5% |
|
|
|
|
New Jersey Economic Development |
|
|
|
Authority, Cigarette Tax |
|
|
|
Revenue |
5.75 |
6/15/34 |
5,500,000 |
4,219,380 |
New Jersey Higher Education |
|
|
|
Student Assistance Authority, |
|
|
|
Student Loan Revenue (Insured; |
|
|
|
Assured Guaranty) 6.13 |
6/1/30 |
5,000,000 |
4,990,900 |
Tobacco Settlement Financing |
|
|
|
Corporation of New Jersey, |
|
|
|
Tobacco Settlement |
|
|
|
Asset-Backed Bonds |
|
|
|
(Prerefunded) |
7.00 |
6/1/13 |
5,640,000 a |
6,762,755 |
New Mexico--1.1% |
|
|
|
|
Farmington, |
|
|
|
|
PCR (Tucson Electric Power |
|
|
|
Company San Juan Project) 6.95 |
10/1/20 |
3,000,000 |
3,001,200 |
New Mexico Mortgage Finance |
|
|
|
Authority, Single Family |
|
|
|
Mortgage Program Revenue |
|
|
|
(Collateralized: FHLMC, FNMA |
|
|
|
and GNMA) |
7.00 |
9/1/31 |
915,000 |
925,760 |
New Mexico Mortgage Finance |
|
|
|
Authority, Single Family |
|
|
|
Mortgage Program Revenue |
|
|
|
(Collateralized: FHLMC, FNMA |
|
|
|
and GNMA) |
6.15 |
7/1/35 |
1,130,000 |
1,148,170 |
|
|
|
|
|
New York--4.3% |
|
|
|
|
New York City Industrial |
|
|
|
|
Development Agency, Liberty |
|
|
|
|
Revenue (7 World Trade Center |
|
|
|
|
Project) |
6.25 |
3/1/15 |
3,275,000 |
2,859,566 |
New York City Industrial |
|
|
|
|
Development Agency, PILOT |
|
|
|
|
Revenue (Yankee Stadium |
|
|
|
|
Project) (Insured; Assured |
|
|
|
|
Guaranty) |
7.00 |
3/1/49 |
5,000,000 |
5,622,050 |
New York City Industrial |
|
|
|
|
Development Agency, Special |
|
|
|
|
Facility Revenue (American |
|
|
|
|
Airlines, Inc. John F. Kennedy |
|
|
|
|
International Airport Project) |
8.00 |
8/1/28 |
1,300,000 |
1,152,788 |
Tobacco Settlement Financing |
|
|
|
|
Corporation of New York, |
|
|
|
|
Asset-Backed Revenue Bonds |
|
|
|
|
(State Contingency Contract |
|
|
|
|
Secured) (Insured; AMBAC) |
5.25 |
6/1/21 |
5,000,000 |
5,037,950 |
Triborough Bridge and Tunnel |
|
|
|
|
Authority, Revenue |
5.25 |
11/15/30 |
5,220,000 |
5,290,835 |
North Carolina--.7% |
|
|
|
|
North Carolina Housing Finance |
|
|
|
|
Agency, Home Ownership Revenue |
5.88 |
7/1/31 |
3,415,000 |
3,420,259 |
North Dakota--.1% |
|
|
|
|
North Dakota Housing Finance |
|
|
|
|
Agency, Home Mortgage Revenue |
|
|
|
|
(Housing Finance Program) |
6.15 |
7/1/31 |
405,000 |
414,882 |
Ohio--3.3% |
|
|
|
|
Buckeye Tobacco Settlement |
|
|
|
|
Financing Authority, Tobacco |
|
|
|
|
Settlement Asset-Backed Bonds |
5.88 |
6/1/30 |
3,000,000 |
2,131,920 |
Buckeye Tobacco Settlement |
|
|
|
|
Financing Authority, Tobacco |
|
|
|
|
Settlement Asset-Backed Bonds |
6.50 |
6/1/47 |
9,900,000 |
6,110,775 |
Canal Winchester Local School |
|
|
|
|
District, School Facilities |
|
|
|
|
Construction and Improvement |
|
|
|
|
and Advance Refunding Bonds |
|
|
|
|
|
|
|
|
|
(GO - Unlimited Tax) (Insured; |
|
|
|
|
National Public Finance |
|
|
|
|
Guarantee Corp.) |
0.00 |
12/1/29 |
3,955,000 b |
1,208,806 |
Canal Winchester Local School |
|
|
|
|
District, School Facilities |
|
|
|
|
Construction and Improvement |
|
|
|
|
and Advance Refunding Bonds |
|
|
|
|
(GO - Unlimited Tax) (Insured; |
|
|
|
|
National Public Finance |
|
|
|
|
Guarantee Corp.) |
0.00 |
12/1/31 |
3,955,000 b |
1,049,934 |
Port of Greater Cincinnati |
|
|
|
|
Development Authority, Tax |
|
|
|
|
Increment Development Revenue |
|
|
|
|
(Fairfax Village Red Bank |
|
|
|
|
Infrastructure Project) |
5.63 |
2/1/36 |
3,000,000 |
1,994,970 |
Toledo Lucas County Port |
|
|
|
|
Authority, Airport Revenue |
|
|
|
|
(Baxter Global Project) |
6.25 |
11/1/13 |
3,100,000 |
2,844,622 |
Oklahoma--1.4% |
|
|
|
|
Oklahoma Housing Finance Agency, |
|
|
|
|
SFMR (Homeownership Loan |
|
|
|
|
Program) |
7.55 |
9/1/28 |
825,000 |
836,006 |
Oklahoma Housing Finance Agency, |
|
|
|
|
SFMR (Homeownership Loan |
|
|
|
|
Program) (Collateralized: FNMA |
|
|
|
|
and GNMA) |
7.55 |
9/1/27 |
520,000 |
532,392 |
Oklahoma Industries Authority, |
|
|
|
|
Health System Revenue |
|
|
|
|
(Obligated Group) (Insured; |
|
|
|
|
National Public Finance |
|
|
|
|
Guarantee Corp.) (Prerefunded) |
5.75 |
8/15/09 |
5,160,000 a |
5,246,378 |
Pennsylvania--.8% |
|
|
|
|
Pennsylvania Economic Development |
|
|
|
|
Financing Authority, SWDR (USG |
|
|
|
|
Corporation Project) |
6.00 |
6/1/31 |
2,560,000 |
1,705,216 |
Philadelphia Authority for |
|
|
|
|
Industrial Development, |
|
|
|
|
Revenue (Please Touch Museum |
|
|
|
|
Project) |
5.25 |
9/1/31 |
2,500,000 |
1,987,050 |
Rhode Island--1.2% |
|
|
|
|
Rhode Island Health and |
|
|
|
|
|
|
|
|
|
Educational Building |
|
|
|
|
Corporation, Hospital |
|
|
|
|
Financing Revenue (Lifespan |
|
|
|
|
Obligated Group Issue) |
|
|
|
|
(Insured; Assured Guaranty) |
7.00 |
5/15/39 |
5,000,000 |
5,498,750 |
South Carolina--2.3% |
|
|
|
|
South Carolina Public Service |
|
|
|
|
Authority, Revenue Obligations |
5.50 |
1/1/38 |
10,000,000 |
10,490,200 |
Tennessee--5.5% |
|
|
|
|
Johnson City Health and |
|
|
|
|
Educational Facilities Board, |
|
|
|
|
Hospital First Mortgage |
|
|
|
|
Revenue (Mountain States |
|
|
|
|
Health Alliance) (Prerefunded) |
7.50 |
7/1/12 |
5,000,000 a |
5,672,750 |
Johnson City Health and |
|
|
|
|
Educational Facilities Board, |
|
|
|
|
Hospital First Mortgage |
|
|
|
|
Revenue (Mountain States |
|
|
|
|
Health Alliance) (Prerefunded) |
7.50 |
7/1/12 |
3,000,000 a |
3,403,650 |
Knox County Health, Educational |
|
|
|
|
and Housing Facility Board, |
|
|
|
|
Revenue (University Health |
|
|
|
|
System, Inc.) |
5.25 |
4/1/36 |
5,060,000 |
4,152,185 |
Memphis Center City Revenue |
|
|
|
|
Finance Corporation, Sports |
|
|
|
|
Facility Revenue (Memphis |
|
|
|
|
Redbirds Baseball Foundation |
|
|
|
|
Project) |
6.50 |
9/1/28 |
10,000,000 e |
4,725,200 |
Metropolitan Government of |
|
|
|
|
Nashville and Davidson County |
|
|
|
|
Health and Educational |
|
|
|
|
Facilities Board, Revenue (The |
|
|
|
|
Vanderbilt University) |
5.50 |
10/1/34 |
7,000,000 |
7,404,180 |
Texas--17.4% |
|
|
|
|
Austin Convention Enterprises |
|
|
|
|
Inc., Convention Center Hotel |
|
|
|
|
First Tier Revenue |
|
|
|
|
(Prerefunded) |
6.70 |
1/1/11 |
4,000,000 a |
4,347,720 |
Austin Convention Enterprises, |
|
|
|
|
Inc., Convention Center Hotel |
|
|
|
|
Second Tier Revenue |
5.75 |
1/1/34 |
3,000,000 |
2,091,900 |
|
|
|
|
|
Brazos River Authority, |
|
|
|
|
PCR (TXU Electric Company |
|
|
|
|
Project) |
8.25 |
5/1/33 |
7,000,000 |
3,798,760 |
Cities of Dallas and Fort Worth, |
|
|
|
|
Dallas/Fort Worth |
|
|
|
|
International Airport, Joint |
|
|
|
|
Revenue (Insured; National |
|
|
|
|
Public Finance Guarantee Corp.) |
6.25 |
11/1/28 |
3,000,000 |
3,004,320 |
Dallas Area Rapid Transit, |
|
|
|
|
Senior Lien Sales Tax Revenue |
5.25 |
12/1/48 |
10,000,000 |
10,046,000 |
Gulf Coast Industrial Development |
|
|
|
|
Authority, Environmental |
|
|
|
|
Facilities Revenue (Microgy |
|
|
|
|
Holdings Project) |
7.00 |
12/1/36 |
6,000,000 |
2,652,060 |
Harris County Health Facilities |
|
|
|
|
Development Corporation, HR |
|
|
|
|
(Memorial Hermann Healthcare |
|
|
|
|
System) |
7.25 |
12/1/35 |
2,000,000 |
2,152,420 |
Harris County Health Facilities |
|
|
|
|
Development Corporation, HR |
|
|
|
|
(Memorial Hermann Healthcare |
|
|
|
|
System) (Prerefunded) |
6.38 |
6/1/11 |
8,500,000 a |
9,426,415 |
Houston, |
|
|
|
|
Airport System Special |
|
|
|
|
Facilities Revenue |
|
|
|
|
(Continental Airlines, Inc. |
|
|
|
|
Terminal E Project) |
7.00 |
7/1/29 |
3,800,000 |
3,169,276 |
Houston, |
|
|
|
|
Combined Utility System First |
|
|
|
|
Lien Revenue (Insured; Assured |
|
|
|
|
Guaranty) |
6.00 |
11/15/36 |
5,000,000 |
5,433,150 |
North Texas Tollway Authority, |
|
|
|
|
First Tier System Revenue |
|
|
|
|
(Insured; Assured Guaranty) |
5.75 |
1/1/40 |
10,300,000 |
10,678,113 |
North Texas Tollway Authority, |
|
|
|
|
Second Tier System Revenue |
5.75 |
1/1/38 |
5,500,000 |
5,291,550 |
Sabine River Authority, |
|
|
|
|
PCR (TXU Electric Company |
|
|
|
|
Project) |
6.45 |
6/1/21 |
11,300,000 |
5,335,634 |
Sam Rayburn Municipal Power |
|
|
|
|
|
|
|
|
|
Agency, Power Supply System |
|
|
|
|
Revenue |
5.75 |
10/1/21 |
6,000,000 |
5,901,120 |
Texas Department of Housing and |
|
|
|
|
Community Affairs, Home |
|
|
|
|
Mortgage Revenue |
|
|
|
|
(Collateralized: FHLMC, FNMA |
|
|
|
|
and GNMA) |
12.65 |
7/2/24 |
800,000 f |
855,448 |
Texas Turnpike Authority, |
|
|
|
|
Central Texas Turnpike System |
|
|
|
|
Revenue (Insured; AMBAC) |
5.75 |
8/15/38 |
7,100,000 |
6,865,984 |
Vermont--.1% |
|
|
|
|
Vermont Housing Finance Agency, |
|
|
|
|
SFHR (Insured; FSA) |
6.40 |
11/1/30 |
675,000 |
688,331 |
Virginia--2.5% |
|
|
|
|
Greater Richmond Convention Center |
|
|
|
|
Authority, Hotel Tax Revenue |
|
|
|
|
(Convention Center Expansion |
|
|
|
|
Project) (Prerefunded) |
6.25 |
6/15/10 |
10,500,000 a |
11,188,275 |
Pittsylvania County Industrial |
|
|
|
|
Development Authority, Exempt |
|
|
|
|
Facility Revenue (Multitrade |
|
|
|
|
of Pittsylvania County, L.P. |
|
|
|
|
Project) |
7.65 |
1/1/10 |
200,000 |
205,134 |
Washington--5.0% |
|
|
|
|
Seattle, |
|
|
|
|
Water System Revenue (Insured; |
|
|
|
|
FGIC) (Prerefunded) |
6.00 |
7/1/09 |
10,000,000 a |
10,101,600 |
Washington Health Care Facilities |
|
|
|
|
Authority, Mortgage Revenue |
|
|
|
|
(Highline Medical Center) |
|
|
|
|
(Collateralized; FHA) |
6.25 |
8/1/36 |
6,000,000 |
6,291,840 |
Washington Higher Education |
|
|
|
|
Facilities Authority, Revenue |
|
|
|
|
(Seattle University Project) |
|
|
|
|
(Insured; AMBAC) |
5.25 |
11/1/37 |
4,210,000 |
3,990,112 |
Washington Housing Finance |
|
|
|
|
Commission, Revenue |
|
|
|
|
(Single-Family Program) |
|
|
|
|
(Collateralized: FHLMC, FNMA |
|
|
|
|
and GNMA) |
5.15 |
6/1/37 |
3,000,000 |
2,912,550 |
|
|
|
|
|
West Virginia--1.4% |
|
|
|
|
The County Commission of Pleasants |
|
|
|
|
County, PCR (Allegheny Energy |
|
|
|
|
Supply Company, LLC Pleasants |
|
|
|
|
Station Project) |
5.25 |
10/15/37 |
5,000,000 |
4,351,650 |
West Virginia Water Development |
|
|
|
|
Authority, Water Development |
|
|
|
|
Revenue (Insured; AMBAC) |
6.38 |
7/1/39 |
2,250,000 |
2,256,368 |
Wisconsin--8.5% |
|
|
|
|
Badger Tobacco Asset |
|
|
|
|
Securitization Corporation, |
|
|
|
|
Tobacco Settlement |
|
|
|
|
Asset-Backed Bonds |
6.13 |
6/1/27 |
8,425,000 |
9,158,396 |
Badger Tobacco Asset |
|
|
|
|
Securitization Corporation, |
|
|
|
|
Tobacco Settlement |
|
|
|
|
Asset-Backed Bonds |
|
|
|
|
(Prerefunded) |
7.00 |
6/1/12 |
22,995,000 a |
26,137,497 |
Madison, |
|
|
|
|
IDR (Madison Gas and Electric |
|
|
|
|
Company Projects) |
5.88 |
10/1/34 |
2,390,000 |
2,338,974 |
Wisconsin Health and Educational |
|
|
|
|
Facilities Authority, Revenue |
|
|
|
|
(Aurora Health Care, Inc.) |
6.40 |
4/15/33 |
2,000,000 |
1,903,800 |
Wyoming--1.9% |
|
|
|
|
Sweetwater County, |
|
|
|
|
SWDR (FMC Corporation Project) |
5.60 |
12/1/35 |
4,500,000 |
3,647,250 |
Wyoming Municipal Power Agency, |
|
|
|
|
Power Supply System Revenue |
5.50 |
1/1/33 |
2,360,000 |
2,356,908 |
Wyoming Municipal Power Agency, |
|
|
|
|
Power Supply System Revenue |
5.38 |
1/1/42 |
2,750,000 |
2,649,900 |
U.S. Related--3.7% |
|
|
|
|
Government of Guam, |
|
|
|
|
LOR (Section 30) |
5.75 |
12/1/34 |
2,000,000 |
1,960,640 |
Guam Housing Corporation, |
|
|
|
|
SFMR (Guaranteed |
|
|
|
|
Mortgage-Backed Securities |
|
|
|
|
Program) (Collateralized; |
|
|
|
|
FHLMC) |
5.75 |
9/1/31 |
965,000 |
986,877 |
|
|
|
|
|
Puerto Rico Commonwealth, |
|
|
|
|
Public Improvement GO |
5.50 |
7/1/32 |
2,000,000 |
1,807,000 |
Puerto Rico Highways and |
|
|
|
|
Transportation Authority, |
|
|
|
|
Transportation Revenue |
|
|
|
|
(Prerefunded) |
6.00 |
7/1/10 |
6,000,000 a |
6,377,100 |
Puerto Rico Sales Tax Financing |
|
|
|
|
Corporation, Sales Tax Revenue |
|
|
|
|
(First Subordinate Series) |
6.00 |
8/1/42 |
6,000,000 |
5,881,320 |
Total Investments (cost $774,628,637) |
|
160.6% |
742,732,878 |
Cash and Receivables (Net) |
|
|
1.0% |
4,710,505 |
Preferred Stock, at redemption value |
|
(61.6%) |
(285,000,000) |
Net Assets Applicable to Common Shareholders |
|
100.0% |
462,443,383 |
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 |
Security issued with a zero coupon. Income is recognized through the accretion of discount. |
c |
Purchased on a delayed delivery basis. |
d |
Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2009, this security amounted to $2,416,920 or .5% of net assets applicable to Common Shareholders. |
e |
Non-income producing--security in default. |
f |
Inverse floater security--the interest rate is subject to change periodically. |
At June 30, 2009, the aggregate cost of investment securities for income tax purposes was $774,628,637. Net unrealized depreciation on investments was $31,895,759 of which $28,734,141 related to appreciated investment securities and $60,629,900 related to depreciated investment securities.
|
|
|
|
Summary of Abbreviations |
|
|
ABAG |
Association Of Bay Area Governments |
ACA |
American Capital Access |
AGC |
ACE Guaranty Corporation |
AGIC |
Asset Guaranty Insurance Company |
AMBAC |
American Municipal Bond Assurance Corporation |
ARRN |
Adjustable Rate Receipt Notes |
BAN |
Bond Anticipation Notes |
BIGI |
Bond Investors Guaranty Insurance |
|
|
|
|
BPA |
Bond Purchase Agreement |
CGIC |
Capital Guaranty Insurance Company |
CIC |
Continental Insurance Company |
CIFG |
CDC Ixis Financial Guaranty |
CMAC |
Capital Markets Assurance Corporation |
COP |
Certificate of Participation |
CP |
Commercial Paper |
EDR |
Economic Development Revenue |
EIR |
Environmental Improvement Revenue |
FGIC |
Financial Guaranty Insurance Company |
FHA |
Federal Housing Administration |
FHLB |
Federal Home Loan Bank |
FHLMC |
Federal Home Loan Mortgage Corporation |
FNMA |
Federal National Mortgage Association |
FSA |
Financial Security Assurance |
GAN |
Grant Anticipation Notes |
GIC |
Guaranteed Investment Contract |
GNMA |
Government National Mortgage Association |
GO |
General Obligation |
HR |
Hospital Revenue |
IDB |
Industrial Development Board |
IDC |
Industrial Development Corporation |
IDR |
Industrial Development Revenue |
LOC |
Letter of Credit |
LOR |
Limited Obligation Revenue |
LR |
Lease Revenue |
MFHR |
Multi-Family Housing Revenue |
MFMR |
Multi-Family Mortgage Revenue |
PCR |
Pollution Control Revenue |
PILOT |
Payment in Lieu of Taxes |
RAC |
Revenue Anticipation Certificates |
RAN |
Revenue Anticipation Notes |
RAW |
Revenue Anticipation Warrants |
RRR |
Resources Recovery Revenue |
SAAN |
State Aid Anticipation Notes |
SBPA |
Standby Bond Purchase Agreement |
SFHR |
Single Family Housing Revenue |
SFMR |
Single Family Mortgage Revenue |
SONYMA |
State of New York Mortgage Agency |
SWDR |
Solid Waste Disposal Revenue |
|
|
|
|
TAN |
Tax Anticipation Notes |
TAW |
Tax Anticipation Warrants |
TRAN |
Tax and Revenue Anticipation Notes |
XLCA |
XL Capital Assurance |
|
Various inputs are used in determining the value of the fund's investments relating to Financial Accounting Standard No. 157 (FAS 157), |
Fair Value Measurements. |
These inputs are summarized in the three broad levels listed below. |
Level 1 - quoted prices in active markets for identical investments. |
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, |
credit risk, etc.) |
Level 3 - significant unobservable inputs (including fund's own assumptions in determining the fair value of investments). |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing |
in those securities. |
The following is a summary of the inputs used as of June 30, 2009 in valuing the fund's investments: |
|
|
|
|
|
|
|
|
Level 3 - |
|
|
Level 1 - |
Level 2 - Other |
Significant |
|
|
Quoted |
Significant Observable |
Unobservable |
|
Assets ($) |
Prices |
Inputs |
Inputs |
Total |
Investments in Securities: |
|
|
|
|
Municipal Bonds |
- |
742,732,878 |
- |
742,732,878 |
Other Financial Instruments+ |
- |
- |
- |
- |
Liabilities ($) |
|
|
|
|
Other Financial Instruments+ |
- |
- |
- |
- |
Other financial instruments include derivative instruments, such as futures, forward currency exchange contracts, swap contracts and options contracts. Amounts shown represents unrealized appreciation (depreciation), or in the case of options, market value at period end.
The fund adopted Statement of Financial Accounting Standards No. 161 Disclosures about Derivative Instruments and Hedging Activities (FAS 161). FAS 161 requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments and disclosures about credit-risk-related contingent features in derivative agreements. Since the fund held no derivatives during the period, FAS 161 disclosures did not impact the notes to the financial statements.
Portfolio valuation: Investments in municipal debt securities are valued on the last business day of each week and month by an independent pricing service (the Service). Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Other investments (which constitute a majority of the portfolio securities) are carried at fair value as determined by the Service, based on methods which include consideration of: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. Options and financial futures on municipal and U.S.Treasury securities are valued at the last sales price on the securities exchange on which such securities are primarily traded or at the last sales price on the national securities market on the last business day of each week and month.
Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.
|
|
Item 2. |
Controls and Procedures. |
(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.
(b) The Registrant has revised its internal control over financial reporting with respect to investments in certain inverse floater structures to account for such investments as secured borrowings and to report the related income and expense.
(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.
-3-
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.
Dreyfus Strategic Municipals, Inc.
|
|
By: |
/s/ J. David Officer |
|
J. David Officer |
President |
|
Date: |
August 12, 2009 |
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/ J. David Officer |
|
J. David Officer |
President |
|
Date: |
August 12, 2009 |
|
|
By: |
/s/ James Windels |
|
James Windels |
Treasurer |
|
Date: |
August 12, 2009 |
(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)
-4-