UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number | 811-05608 | ||||||||
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PUBLIC FACILITY LOAN TRUST | |||||||||
(Exact name of registrant as specified in charter) | |||||||||
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C/O U.S. BANK CORP TRUST DEPT |
| 02110 | |||||||
(Address of principal executive offices) |
| (Zip code) | |||||||
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GEORGE H. DAVISON, JR. | |||||||||
(Name and address of agent for service) | |||||||||
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Registrant’s telephone number, including area code: | 617-603-6559 |
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Date of fiscal year end: | DECEMBER 31 |
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Date of reporting period: | January 1, 2003 – June 30, 2003 |
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Item 1. Reports to Stockholders.
PUBLIC FACILITY LOAN TRUST
STATEMENT OF ASSETS AND LIABILITIES-UNAUDITED
June 30, 2003
ASSETS: |
|
|
| |
Investment in Loans, at amortized cost (Note 3 and Schedule of Investments) |
| 33,397,303 |
| |
Temporary investments (Note 4) |
| 10,951,678 |
| |
Accrued interest receivable |
| 74,380 |
| |
Deferred bond issuance costs, net of accumulated amortization of $ 2,610,768 |
| 38,972 |
| |
Cash |
| 118,237 |
| |
Total assets |
| 44,580,570 |
| |
|
|
|
| |
LIABILITIES: |
|
|
| |
Bonds payable, at amortized cost (Note 5) |
| 21,226,909 |
| |
Accrued interest payable |
| 556,296 |
| |
Accrued expenses and other liabilities |
| 74,557 |
| |
Refunds |
| (3,072 | ) | |
Total liabilities |
| 21,854,690 |
| |
|
|
|
| |
Net assets |
| $ | 22,725,879 |
|
|
|
|
| |
NET ASSETS REPRESENTED BY: |
|
|
| |
Class A Certificates of beneficial interest (maximum liquidation price of $50,000), at par (Note 6) |
| 500 |
| |
Class B Certificates of beneficial interest, at par (Note 6) |
| 10,000 |
| |
Additional paid-in capital |
| 8,701,173 |
| |
Undistributed net investment income |
| 14,014,206 |
| |
|
| $ | 22,725,879 |
|
MAXIMUM FIXED LIQUIDATION PRICE OF CLASS A |
| $ | 100 |
|
NET ASSET VALUE OF CLASS B CERTIFICATES, |
| $ | 2,267.59 |
|
The accompanying notes are an integral part of this statement.
PUBLIC FACILITY LOAN TRUST
STATEMENT OF OPERATIONS-UNAUDITED
FOR THE SIX-MONTH PERIOD ENDED 6/30/2003
INVESTMENT INCOME: |
|
|
| |
Interest |
| $ | 3,094,470 |
|
|
|
|
| |
EXPENSES: |
|
|
| |
Interest |
| 1,212,735 |
| |
Servicing fees (Note 7) |
| — |
| |
Amortization of deferred bond issuance costs |
| 24,047 |
| |
Trustee fees (Note 7) |
| 7,150 |
| |
Other |
| 77,840 |
| |
Total expenses |
| 1,321,772 |
| |
|
|
|
| |
Net investment income |
| $ | 1,772,698 |
|
The accompanying notes are an integral part of this statement.
PUBLIC FACILITY LOAN TRUST
STATEMENTS OF CHANGES IN NET ASSETS-UNAUDITED
FOR THE 6 MONTH PERIOD ENDED 6/30/2003
|
| 2003 |
| 2002 |
| ||
|
|
|
|
|
| ||
NET INVESTMENT INCOME |
| $ | 1,772,698 |
| $ | 1,045,708 |
|
|
|
|
|
|
| ||
DISTRIBUTIONS TO HOLDERS OF: |
|
|
|
|
| ||
Class A Certificates |
| $ | (30 | ) | $ | (30 | ) |
Class B Certificates |
| $ | (1,013,355 | ) | $ | (889,882 | ) |
Total distributions |
| $ | (1,013,385 | ) | $ | (889,912 | ) |
|
|
|
|
|
| ||
Increase (decrease) in net assets |
| $ | 759,313 |
| $ | 155,796 |
|
|
|
|
|
|
| ||
NET ASSETS: |
|
|
|
|
| ||
Beginning of period |
| $ | 21,966,566 |
| $ | 20,851,289 |
|
|
|
|
|
|
| ||
End of period |
| $ | 22,725,879 |
| $ | 21,007,085 |
|
The accompanying notes are an integral part of these statements.
PUBLIC FACILITY LOAN TRUST
STATEMENT OF CASH FLOWS-UNAUDITED
FOR THE SIX MONTH PERIOD ENDED 6/30/2003
|
| 06/30/03 |
|
|
|
|
|
OPERATING ACTIVITIES: |
|
|
|
Cash received from loans- |
|
|
|
Interest |
| 1,174,892 |
|
Refundable payments |
| (506,843 | ) |
Interest income from temporary investments |
| 339,582 |
|
Interest expense |
| (669,175 | ) |
Other expenses |
| (106,200 | ) |
Net cash provided by operating activities |
| 232,256 |
|
|
|
|
|
INVESTMENT ACTIVITIES: |
|
|
|
Principal collections on loans |
| 5,350,128 |
|
Net increase in temporary investments |
| (4,429 | ) |
Net cash provided by investing activities |
| 5,345,699 |
|
|
|
|
|
FINANCING ACTIVITIES: |
|
|
|
Principal payments to Bondholders |
| (4,515,187 | ) |
Distributions to Certificateholders - Class A |
| (30 | ) |
Distributions to Certificateholders - Class B |
| (1,013,355 | ) |
Net cash (used in) financing activities |
| (5,528,572 | ) |
|
|
|
|
Net decrease in cash |
| 49,383 |
|
|
|
|
|
CASH: |
|
|
|
Beginning of year |
| 68,854 |
|
|
|
|
|
End of year |
| 118,237 |
|
|
|
|
|
RECONCILIATION OF NET INVESTMENT INCOME TO |
|
|
|
NET CASH PROVIDED BY OPERATING ACTIVITIES: |
|
|
|
Net investment income |
| 1,772,698 |
|
Ajustment relating to Loans- |
|
|
|
Accretion of market discount |
| (1,628,986 | ) |
Increase in accrued interest receivable |
| 106,423 |
|
Adjustments relating to Bonds- |
|
|
|
Amortization of original issue discount |
| 656,439 |
|
Amortization of deferred bond issuance costs |
| 24,047 |
|
Decrease in accrued interest payable |
| (112,879 | ) |
Other adjustments- |
|
|
|
Increase in accrued expenses and other liabilities |
| (31,643 | ) |
Decrease in Refund Liability |
| (553,843 | ) |
|
|
|
|
Net cash provided by operating activities |
| 232,256 |
|
The accompanying notes are an integral part of this statement.
Public Facility Loan Trust
Notes To Financial Statements-Unaudited
1. The Trust and its Activities
Public Facility Loan Trust (the “Trust”) was established in July, 1988 under the laws of the Commonwealth of Massachusetts by a declaration of trust (the “Declaration of Trust”) by Shawmut Bank, N.A., not acting in its individual capacity but solely as owner trustee (the “Owner Trustee”). State Street Bank and Trust Company, as attorney-in-fact for Fleet National Bank, successor to Shawmut Bank, N.A., is currently the Owner Trustee. The Trust is registered under the Investment Company Act of 1940 as a closed-end, diversified management investment company. The sole purpose of the Trust is to raise funds through the issuance and sale of its Bonds (as defined below) and to invest the related proceeds in the Loans (as defined below) which it purchased from the United States Department of Housing and Urban Development (“HUD”).
In August, 1988, the Trust purchased 1,196 loans (the “Loans”) from HUD, which had an aggregate outstanding principal balance of approximately $271,950,000, in return for (i) the net proceeds from the sale of the Trust’s Bonds (as defined below) and (ii) the Class A and B Certificates of beneficial interest in the net assets of the Trust (the “Certificates”). Pursuant to an indenture (the “Indenture”) dated August 1, 1988, between the Trust and Chemical Bank, as bond trustee (the “Bond Trustee”), the Trust issued four classes of sequential pay bonds (the “Bonds”) in August, 1988, which had an aggregate par value of $235,958,000, using the Loans as collateral. The Bond Trustee holds the original notes and bonds evidencing the Loans. Chase Manhattan Bank successor to Chemical Bank, is currently the Bond Trustee.
During 1997, GMAC Commercial Mortgage Corporation (“GMAC”) became the servicer of the Trust’s Loans pursuant to the servicing agreement dated August 1, 1988 (the “Servicing Agreement”). Prior to that time, the Trust’s servicer was General Electric Capital Corporation (“GECC”). (GMAC and GECC are hereinafter referred to as the “Servicer”). The Servicer’s responsibilities include collecting payments on the Loans and maintaining the Loan files.
In accordance with the Indenture, the Trust maintains three funds, the Revenue, Expense and Liquidity Funds (the “Funds”), which are invested temporarily in permitted investments. All payments received on the Loans and earnings on the amounts in the Funds are used to make payments on the Bonds, to pay the Trust’s administrative expenses and to make distributions to the Certificate holders.
1
2. Summary of Significant Accounting Policies
Investment in Loans and Temporary Investments
The Loans were recorded at the inception of the Trust at their purchased cost. Such cost resulted in the recognition of market discount from the Loans’ outstanding principal balances. The purchase cost was determined by an independent appraiser, since a portion of the consideration paid by the Trust (the Class A and B Certificates) for the Loans did not have a readily determinable market value. The appraised value of the Loans was also used to determine the initial carrying amount of the Certificates.
Pursuant to a “no action letter” the Trust received from the Securities and Exchange Commission, the market discount on the Loans is included in the Trust’s statement of operations using the amortized cost method of accounting. Under this method, interest on each Loan is recognized by applying the Loan’s effective interest rate to the amortized cost of the Loan at the beginning of the period. A Loan’s effective interest rate is the rate which discounts the Loan’s scheduled future cash flows (including principal and interest) to its amortized cost. The amortization of market discount for each Loan included in the Trust’s statement of operations is the difference between the Loan’s interest income and its coupon interest.
Temporary investments are stated at cost.
Deferred Bond Issuance Costs
Deferred bond issuance costs of $2,649,740 were capitalized on the date the Bonds were issued and are amortized using the effective interest method over the estimated life of the bonds.
Bonds Payable
The Bonds are stated at their outstanding par value less unamortized original issue discount. Original issue discount amortization is included in the Trust’s statement of operations using the effective interest method.
Income and Expense Recognition
Investment income and expenses are recognized on an accrual basis.
2
Federal Income Taxes
No provision for federal income taxes is included in the Trust’s statement of operations since the Trust intends to comply with the provisions of Subchapter M of the Internal Revenue Code and to distribute all of its taxable income, if any, to its Certificate holders to the extent that such distributions are permitted by the indenture.
Presentation of Capital Distributions
During 1994, the Trust adopted the American Institute of Certified Public Accountants’ Statement of Position 93-2, “Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain and Return of Capital Distributions by Investment Companies” (“SOP 93-2”). SOP 93-2 requires the reporting of distributions in excess of tax basis earnings and profits as a tax return of capital and the presentation of capital accounts on a basis that approximates amounts available for future distributions on a tax basis. Tax basis earnings and profits are computed in accordance with income tax regulations, which differ, in certain respects, from the methods used by the Trust to determine the corresponding amounts in accordance with generally accepted accounting principles.
There were no changes in the Trust’s net assets and net investment income as a result of adopting SOP 93-2. As the Trust has no capital gains and its tax basis earnings and profits exceeded the distributions made to the Trust’s Certificate holders, no distributions have been characterized as tax returns of capital.
Use of Estimates
In preparing its financial statements, the Owner Trustee made certain estimates and assumptions that affect amounts at which assets and liabilities and investment income and expenses are reported in the Trust’s statement of assets and liabilities and statement of operations, respectively. Future results could differ from these estimates.
3
3. The Loans
The Loans are bonds and other loans, substantially all of which are tax-exempt, issued by municipalities, special districts, not for-profit organizations, hospitals and Indian tribes to refinance loans for the construction of water, sewage, hospital and other public facilities.
The Loans may generally be repaid ahead of schedule at the option of the borrowers at par or with a small premium. The Loans are secured by various types of collateral, including general obligations and pledges of gross or net revenues, special assessments and mortgages. The Trust purchased the Loans from HUD without recourse, except for certain representations and warranties by HUD specified in the related Loan Sale Agreement. These representations and warranties were originally scheduled to expire in August 1990. During 1990 and 1991, HUD extended certain of its representations and warranties to May 1992. During 1992, HUD verbally agreed to extend certain of its representations and warranties until a notice of breach and agreement is executed.
The amortized cost of the Loans at June 30, 2003, was as follows:
Outstanding principal |
| $ | 39,139,068 |
|
Unamortized market discount |
| (5,741,765 | ) | |
|
| $ | 33,397,303 |
|
4. Temporary Investments
The Trust has entered into investment agreements pertaining to its temporary investments with Morgan Guaranty Trust Company of New York for the three Funds that are required by the Indenture. Monies deposited into these Funds are invested at fixed interest rates and are available for Bond and for other payments pursuant to the Indenture on each Payment Date (as defined in Note 5).
4
At June 30, 2003, the Fund balances and interest rates, which are fixed until full repayment of the Bonds were as follows:
Fund |
| Interest |
| Fund Balance |
| ||
Revenue |
| 7.75 | % | $ | 5,915,760 |
| |
Expense |
| 7.75 |
| 3,750,869 |
| ||
Liquidity |
| 8.25 |
| 1,285,049 |
| ||
|
|
|
| $ | 10,951,678 |
| |
Substantially all of the June 30, 2003 Revenue Fund balance was used to make the August 1, 2003 Bond payment described in Note 5, including related interest, and the August 1, 2003 Certificate distribution described in Note 6.
5. The Bonds
The Bonds are sequential pay bonds, with semiannual interest payable on each February 1 and August 1 (each, a “Payment Date”) at 5% per annum.
The indenture provides that principal payments are to be made on the Bonds on each Payment Date prior to the Bond’s stated maturity in an aggregate amount equal to the lesser of the Available Amount or the Principal Distribution Amount (both as defined below) on such Payment Date. The Indenture provides that such principal payments are to be applied to each class of Bonds in the order of their respective stated maturities so that no principal payments are made until the Bonds having an earlier stated maturity have been paid in full. The Bonds are not otherwise subject to redemption prior to their stated maturity.
The Available Amount is the amount in the Revenue and Liquidity Funds on each Payment Date, after payment of (a) interest on, and principal at stated maturity of, the Bonds, (b) scheduled administrative expenses not paid from the Expense Fund and (c) any required funding of the Expense or Liquidity Funds.
5
The Principal Distribution Amount for any Payment Date is the sum of (a) the difference, if any, between the aggregate Collateral Value (as defined below) of the Loans on such Payment Date and the aggregate Collateral Value of the Loans on the immediately preceding Payment Date and (b) the unpaid portion of any previous Principal Distribution Amount.
The Collateral Value of each Loan is equal to the lesser of (a) the present value of the remaining scheduled interest and principal payments on the Loan, together with assumed reinvestment income thereon from each Assumed Deposit Date (30 to 60 days after the date the scheduled payments are due) to the Payment Date that follows its Assumed Deposit Date (as defined in the Indenture) at the Assumed Reinvestment Rate (7.75% per annum as of June 30, 2003), discounted semiannually to the Payment Date using a discount rate of 5% per annum or (b) the outstanding principal balance of the Loan.
The Class 1 Bonds, the Class 2 Bonds and the Class 3 Bonds were retired in August 1994, February 1997 and August 1999, respectively. At June 30, 2003, the carrying amounts of the Bonds in the statement of assets and liabilities were as follows:
|
| Stated |
| Principal Outstanding |
| Unamortized Original Issue Discount |
| Carrying |
| |||
|
|
|
|
|
|
|
|
|
| |||
Class 1 |
| 2/1/2000 |
| $ | — |
| $ | — |
| $ | — |
|
Class 2 |
| 2/1/2003 |
| — |
| — |
| — |
| |||
Class 3 |
| 2/1/2006 |
| — |
| — |
| — |
| |||
Class 4 |
| 2/1/2013 |
| 22,251,822 |
| 1,024,913 |
| 21,226,909 |
| |||
|
|
|
| $ | 22,251,822 |
| $ | 1,024,913 |
| $ | 21,226,909 |
|
Estimated principal payments on the Bonds at June 30, 2003, calculated based on the remaining scheduled payments on the Loans, were as follows:
Year ending June 30: |
|
|
| |
|
|
|
| |
2004 |
| $ | 8,257,241 |
|
2005 |
| 6,308,309 |
| |
2006 |
| 5,126,264 |
| |
2007 |
| 2,560,008 |
| |
2008 |
| — |
| |
|
| $ | 22,251,822 |
|
6
On August 1, 2003, an aggregate principal payment of $7,769,486 was made to the Class 4 Bondholders. After this payment, the aggregate Collateral Value of the Loans was approximately 179% of the outstanding principal amount of the Bonds.
6. The Certificates of Beneficial Interest
Information regarding the Trust’s fully paid, nonassessable shares of certificates of beneficial interest as of June 30, 2003, and for the year then ended, is as follows:
|
| Class A |
| Class B |
| ||
|
|
|
|
|
| ||
Number of shares outstanding |
| 500 |
| 10,000 |
| ||
Par value per share |
| $ | 1 |
| $ | 1 |
|
Fixed dividend rate per annum (cumulative) |
| 6 | % | 0 | % | ||
The Declaration of Trust provides that distributions on the Class A and Class B Certificates are payable solely from Available Funds (as defined in the Declaration of Trust), it any, transferred from the Bond Trustee to the Owner Trustee. Prior to payment of the Bonds in full and discharge of the Indenture, the Declaration of Trust provides that Available Funds be applied in the following order of priority:
a. To pay any indemnities or Trust expenses not otherwise payable as administrative expenses;
b. To the Class A Certificate holders for dividends accrued or in arrears; and
c. To the Class B Certificate holders, subject to the limitations described below;
The “fixed liquidation price” of the Class A Certificates is $100 per share. In the event of liquidation, dissolution or termination of the Trust, the Class A Certificate holders are entitled to receive, in cash, the fixed liquidation price together with all dividends accrued or in arrears to that date, before any distribution of the assets of the Trust are made to the Class B Certificate holders; the Class A Certificate holders are entitled to no further participation in such distribution. If upon any such liquidation, dissolution or termination, the assets distributable to the Class A Certificate holders are insufficient to permit the payment of the full preferential amount, the entire assets of the Trust are to be distributed to the holders of the Class A Certificates then outstanding.
7
The Declaration of Trust provides that no distributions can be made to the Class B Certificate holders to the extent that such distributions would cause the net assets of the Trust to be less than the aggregate fixed liquidation price of the outstanding Class A Certificates.
The Indenture provides that upon repayment of the Bonds in full and the discharge of the Indenture, any Loans or other assets held by the Bond Trustee will be transferred to the Owner Trustee. The Declaration of Trust provides that the cash funds on that date, as well as subsequent cash receipts from any remaining Loans, are to be applied by the Owner Trustee as described above.
The Certificates are transferable pursuant to conditions in the Declaration of Trust.
On August 1, 2003 aggregate distributions of $30 and $819,464 were made to the Class A and Class B Certificate holders, respectively.
7. Trustee and Servicing Fees
Bond Trustee
The Indenture provides that the Bond Trustee is to receive, on each August 1, an annual fee equal to .015% of the aggregate outstanding principal amount of the Loans on the immediately preceding Bond Payment Date.
Owner Trustee
The Indenture provides that the Owner Trustee is to receive a semiannual fee of $6,500 on February 1 and August 1 of each year.
Servicer
The Servicing Agreement provides that the Servicer is to receive a monthly servicing fee equal to one-twelfth of 0.195% of the outstanding principal balance of each Loan on the first day of the preceding month.
8
8. Fair Value of Financial Instruments
Statement of Financial Accounting Standards No. 107, “Disclosures About Fair Value of Financial Instruments,” (“SFAS No. 107”) requires the Trust to disclose estimated fair values of certain of its financial instruments. As SFAS No. 107 allows the use of a wide range of valuation techniques, it may be difficult to compare the Trust’s fair value information to independent markets or to other fair value information.
The carrying amounts of the financial assets and liabilities of the Trust as disclosed in the statement of assets and liabilities represent their fair value, except for the temporary investments, investments in loans and bonds payable. The estimated fair value of the investments in loans is not practicably estimable as these loans are not liquid and the cost of estimating the fair value is prohibitively expensive. A listing of all of the investments in loans, including their related carrying amounts, interest rates and maturities are included in the schedule of investments in loans. The estimated fair value of the bonds payable is not practicably estimable as these bonds payable include the value of the net assets of the Trust upon liquidation.
9
Public Facility Loan Trust
Schedule of Investments in Loans
June 30, 2003
ID |
| Cusip Number |
| Description |
| State |
| Stated |
| Maturity |
| Current |
| Percentage of |
| Amortized |
| Percentage of |
|
40005901 |
| 40005901 |
| ARDMORE WATERWORKS |
| Alabama |
| 5.000 |
| 7/1/2009 |
| 145,000 |
| 0.37 | % | 113,922 |
| 0.34 | % |
40000501 |
| 40000501 |
| BIG COVE WATER AUTHORITY |
| Alabama |
| 4.000 |
| 7/1/2006 |
| 36,000 |
| 0.09 | % | 33,098 |
| 0.10 | % |
40007801 |
| 40007801 |
| CITY OF FAYETTE |
| Alabama |
| 4.250 |
| 4/1/2008 |
| 20,000 |
| 0.05 | % | 18,304 |
| 0.05 | % |
40006401 |
| 40006401 |
| CITY OF GUNTERSVILLE |
| Alabama |
| 4.500 |
| 1/1/2007 |
| 72,000 |
| 0.18 | % | 64,461 |
| 0.19 | % |
40006402 |
| 40006402 |
| CITY OF GUNTERSVILLE |
| Alabama |
| 6.000 |
| 1/1/2009 |
| 201,000 |
| 0.51 | % | 177,704 |
| 0.53 | % |
40005501 |
| 40005501 |
| DOUGLAS WATER AND FIRE |
| Alabama |
| 5.000 |
| 1/1/2009 |
| 96,000 |
| 0.25 | % | 78,470 |
| 0.23 | % |
40003801 |
| 40003801 |
| ENTERPRISE PUBLIC BUILDING |
| Alabama |
| 4.500 |
| 11/1/2007 |
| 81,000 |
| 0.21 | % | 71,750 |
| 0.21 | % |
40006801 |
| 40006801 |
| GRANT WATERWORKS |
| Alabama |
| 3.500 |
| 7/1/2003 |
| 77,000 |
| 0.20 | % | 64,947 |
| 0.19 | % |
40001801 |
| 40001801 |
| HAZEL GREEN WATER & FIRE |
| Alabama |
| 4.500 |
| 8/1/2007 |
| 231,000 |
| 0.59 | % | 203,322 |
| 0.61 | % |
40005101 |
| 40005101 |
| HELENA UTILITIES BOARD |
| Alabama |
| 5.625 |
| 12/1/2012 |
| 830,000 |
| 2.12 | % | 614,313 |
| 1.84 | % |
40002302 |
| 40002302 |
| LITTLEVILLE WATERWORKS |
| Alabama |
| 5.000 |
| 2/1/2009 |
| 123,000 |
| 0.31 | % | 104,653 |
| 0.31 | % |
40002601 |
| 40002601 |
| MAYSVILLE WTR & FIRE PR |
| Alabama |
| 4.500 |
| 8/1/2007 |
| 94,999 |
| 0.24 | % | 86,586 |
| 0.26 | % |
40004101 |
| 40004101 |
| SELMA PUBLIC BUILDING AUTH. |
| Alabama |
| 5.625 |
| 5/1/2014 |
| 240,000 |
| 0.61 | % | 186,594 |
| 0.56 | % |
40005902 |
| 40005902 |
| TOWN OF ARDMORE |
| Alabama |
| 5.000 |
| 7/1/2009 |
| 360,000 |
| 0.92 | % | 314,304 |
| 0.94 | % |
40000401 |
| 40000401 |
| TOWN OF BERRY |
| Alabama |
| 5.625 |
| 11/1/2012 |
| 113,000 |
| 0.29 | % | 96,726 |
| 0.29 | % |
40005001 |
| 40005001 |
| TOWN OF BLOUNTSVILLE |
| Alabama |
| 5.625 |
| 12/1/2006 |
| 14,000 |
| 0.04 | % | 11,839 |
| 0.04 | % |
40006202 |
| 40006202 |
| TOWN OF FORT DEPOSIT |
| Alabama |
| 4.750 |
| 5/1/2007 |
| 53,000 |
| 0.14 | % | 47,709 |
| 0.14 | % |
40001501 |
| 40001501 |
| TOWN OF GRANT |
| Alabama |
| 6.000 |
| 7/1/2007 |
| 66,000 |
| 0.17 | % | 60,790 |
| 0.18 | % |
40001601 |
| 40001601 |
| TOWN OF GULF SHORES |
| Alabama |
| 4.000 |
| 4/1/2007 |
| 116,000 |
| 0.30 | % | 103,731 |
| 0.31 | % |
40007301 |
| 40007301 |
| TOWN OF MOULTON |
| Alabama |
| 3.750 |
| 9/1/2007 |
| 6,000 |
| 0.02 | % | 6,000 |
| 0.02 | % |
40002902 |
| 40002902 |
| TOWN OF MOUNDVILLE |
| Alabama |
| 6.000 |
| 4/1/2010 |
| 51,000 |
| 0.13 | % | 44,254 |
| 0.13 | % |
40007501 |
| 40007501 |
| TOWN OF PARRISH |
| Alabama |
| 5.625 |
| 12/1/2007 |
| 20,000 |
| 0.05 | % | 20,000 |
| 0.06 | % |
40004601 |
| 40004601 |
| TOWN OF SLOCOMB |
| Alabama |
| 4.125 |
| 12/1/2007 |
| 230,000 |
| 0.59 | % | 199,797 |
| 0.60 | % |
40006503 |
| 40006503 |
| TOWN OF SOUTHSIDE |
| Alabama |
| 6.000 |
| 7/1/2003 |
| 90,000 |
| 0.23 | % | 79,721 |
| 0.24 | % |
40007701 |
| 40007701 |
| TOWN OF VINCENT |
| Alabama |
| 5.625 |
| 2/1/2011 |
| 156,000 |
| 0.40 | % | 125,391 |
| 0.38 | % |
40006601 |
| 40006601 |
| WINFIELD WATERWORKS |
| Alabama |
| 5.625 |
| 10/1/2008 |
| 102,000 |
| 0.26 | % | 87,895 |
| 0.26 | % |
|
|
|
|
|
| Alabama Total |
|
|
| 3,623,999 |
| 9.26 | % | 3,016,281 |
| 9.03 | % | ||
40008601 |
| 40008601 |
| GREATER JUNEAU BOROUGH |
| Alaska |
| 4.500 |
| 10/1/2008 |
| 255,000 |
| 0.65 | % | 220,427 |
| 0.66 | % |
|
|
|
|
|
| Alaska Total |
|
|
| 255,000 |
| 0.65 | % | 220,427 |
| 0.66 | % | ||
40009201 |
| 40009201 |
| ARKANSAS STATE UNIVERSIT |
| Arkansas |
| 4.500 |
| 10/1/2009 |
| 745,000 |
| 1.90 | % | 599,408 |
| 1.79 | % |
ID |
| Cusip Number |
| Description |
| State |
| Stated |
| Maturity |
| Current |
| Percentage of |
| Amortized |
| Percentage of |
|
40009501 |
| 40009501 |
| CITY OF BARLING |
| Arkansas |
| 4.500 |
| 2/1/2008 |
| 47,000 |
| 0.12 | % | 41,083 |
| 0.12 | % |
40009601 |
| 40009601 |
| CITY OF BLACK ROCK |
| Arkansas |
| 3.500 |
| 7/1/2004 |
| 16,000 |
| 0.04 | % | 15,700 |
| 0.05 | % |
40010101 |
| 40010101 |
| CITY OF CENTER HILL |
| Arkansas |
| 5.625 |
| 10/1/2012 |
| 229,000 |
| 0.59 | % | 179,511 |
| 0.54 | % |
40011101 |
| 40011101 |
| CITY OF GREENWOOD |
| Arkansas |
| 3.875 |
| 9/1/2004 |
| 49,000 |
| 0.13 | % | 47,692 |
| 0.14 | % |
40012401 |
| 40012401 |
| CITY OF LEPANTO |
| Arkansas |
| 3.750 |
| 5/1/2004 |
| 11,000 |
| 0.03 | % | 10,858 |
| 0.03 | % |
40013502 |
| 40013502 |
| CITY OF PARKDALE |
| Arkansas |
| 4.500 |
| 4/1/2007 |
| 35,000 |
| 0.09 | % | 31,023 |
| 0.09 | % |
40014001 |
| 40014001 |
| CITY OF SALEM |
| Arkansas |
| 3.750 |
| 10/1/2005 |
| 21,000 |
| 0.05 | % | 19,941 |
| 0.06 | % |
40014002 |
| 40014002 |
| CITY OF SALEM |
| Arkansas |
| 4.250 |
| 10/1/2006 |
| 22,000 |
| 0.06 | % | 19,771 |
| 0.06 | % |
40014003 |
| 40014003 |
| CITY OF SALEM |
| Arkansas |
| 4.250 |
| 10/1/2007 |
| 47,000 |
| 0.12 | % | 43,779 |
| 0.13 | % |
40015002 |
| 40015002 |
| CITY OF WEST FORK |
| Arkansas |
| 4.500 |
| 4/1/2008 |
| 15,000 |
| 0.04 | % | 12,548 |
| 0.04 | % |
40013401 |
| 40013401 |
| PANGBURN WATER & SEWER C |
| Arkansas |
| 4.250 |
| 4/1/2005 |
| 15,100 |
| 0.04 | % | 11,841 |
| 0.04 | % |
40013101 |
| 40013101 |
| TOWN OF NORPHLET |
| Arkansas |
| 4.000 |
| 7/1/2007 |
| 37,000 |
| 0.09 | % | 32,169 |
| 0.10 | % |
|
|
|
|
|
| Arkansas Total |
|
|
| 1,289,100 |
| 3.29 | % | 1,065,324 |
| 3.19 | % | ||
40015401 |
| 40015401 |
| APPLE VALLEY HGTS CO WTR |
| California |
| 4.000 |
| 7/1/2008 |
| 6,000 |
| 0.02 | % | 5,269 |
| 0.02 | % |
40018601 |
| 40018601 |
| CITY OF WESTMORELAND |
| California |
| 3.625 |
| 12/1/2003 |
| 275,000 |
| 0.70 | % | 238,671 |
| 0.71 | % |
40016801 |
| 40016801 |
| IDYLLWILD CO. WTR. DIST |
| California |
| 5.000 |
| 10/1/2008 |
| 105,000 |
| 0.27 | % | 97,096 |
| 0.29 | % |
40017601 |
| 40017601 |
| RUBIDOUX COMMUNITY SERV |
| California |
| 4.000 |
| 7/1/2006 |
| 18,000 |
| 0.05 | % | 17,313 |
| 0.05 | % |
40017902 |
| 40017902 |
| SEELY COUNTY WATER DIST. |
| California |
| 4.000 |
| 3/1/2005 |
| 25,000 |
| 0.06 | % | 25,000 |
| 0.07 | % |
40018501 |
| 40018501 |
| VENTURA CTY WATERWORKS D |
| California |
| 5.625 |
| 7/1/2003 |
| 12,000 |
| 0.03 | % | 12,000 |
| 0.04 | % |
|
|
|
|
|
| California Total |
|
|
| 441,000 |
| 1.13 | % | 395,349 |
| 1.18 | % | ||
40018701 |
| 40018701 |
| ROUTT COUNTY AIRPORT |
| Colorado |
| 4.000 |
| 5/1/2006 |
| 47,000 |
| 0.12 | % | 42,782 |
| 0.13 | % |
40018801 |
| 40018801 |
| TRI-COUNTY WTR. CONSER. |
| Colorado |
| 5.000 |
| 4/1/2010 |
| 1,000,000 |
| 2.55 | % | 748,582 |
| 2.24 | % |
40018901 |
| 40018901 |
| UTE WATER CONSERVANCY DI |
| Colorado |
| 3.750 |
| 7/1/2003 |
| 2,400,000 |
| 6.13 | % | 2,400,000 |
| 7.19 | % |
|
|
|
|
|
| Colorado Total |
|
|
| 3,447,000 |
| 8.81 | % | 3,191,364 |
| 9.56 | % | ||
40019001 |
| 40019001 |
| CITY OF ALTAMONTE SPRING |
| Florida |
| 5.625 |
| 2/1/2012 |
| 405,000 |
| 1.03 | % | 328,282 |
| 0.98 | % |
40019004 |
| 40019004 |
| CITY OF ALTAMONTE SPRING |
| Florida |
| 5.375 |
| 2/1/2009 |
| 360,000 |
| 0.92 | % | 315,507 |
| 0.94 | % |
40020201 |
| 40020201 |
| CITY OF CRYSTAL RIVER |
| Florida |
| 4.000 |
| 9/1/2006 |
| 67,000 |
| 0.17 | % | 53,411 |
| 0.16 | % |
40021001 |
| 40021001 |
| CITY OF HOMESTEAD |
| Florida |
| 4.500 |
| 7/1/2007 |
| 137,000 |
| 0.35 | % | 123,786 |
| 0.37 | % |
40021002 |
| 40021002 |
| CITY OF HOMESTEAD |
| Florida |
| 5.625 |
| 7/1/2012 |
| 139,610 |
| 0.36 | % | 115,054 |
| 0.34 | % |
40021501 |
| 40021501 |
| CITY OF LIVE OAK |
| Florida |
| 5.625 |
| 4/1/2013 |
| 385,000 |
| 0.98 | % | 342,373 |
| 1.03 | % |
ID |
| Cusip Number |
| Description |
| State |
| Stated |
| Maturity |
| Current |
| Percentage of |
| Amortized |
| Percentage of |
|
40021502 |
| 40021502 |
| CITY OF LIVE OAK |
| Florida |
| 5.625 |
| 4/1/2013 |
| 444,997 |
| 1.14 | % | 355,157 |
| 1.06 | % |
40021701 |
| 40021701 |
| CITY OF MAITLAND |
| Florida |
| 4.500 |
| 9/1/2004 |
| 165,000 |
| 0.42 | % | 128,673 |
| 0.39 | % |
40020001 |
| 40020001 |
| TOWN OF CEDAR GROVE |
| Florida |
| 5.625 |
| 5/1/2012 |
| 170,000 |
| 0.43 | % | 132,712 |
| 0.40 | % |
40020401 |
| 40020401 |
| TOWN OF EATONVILLE |
| Florida |
| 6.000 |
| 4/1/2011 |
| 93,000 |
| 0.24 | % | 90,698 |
| 0.27 | % |
40021801 |
| 40021801 |
| TOWN OF MARY ESTHER |
| Florida |
| 3.625 |
| 12/1/2003 |
| 42,000 |
| 0.11 | % | 42,000 |
| 0.13 | % |
40022401 |
| 40022401 |
| TOWN OF SAINT MARKS |
| Florida |
| 4.500 |
| 5/1/2008 |
| 71,000 |
| 0.18 | % | 61,493 |
| 0.18 | % |
|
|
|
|
|
| Florida Total |
|
|
| 2,479,607 |
| 6.34 | % | 2,089,146 |
| 6.26 | % | ||
40026201 |
| 40026201 |
| CALHOUN COUNTY GEORGIA |
| Georgia |
| 5.375 |
| 12/1/2010 |
| 54,000 |
| 0.14 | % | 53,073 |
| 0.16 | % |
40026301 |
| 40026301 |
| CANDLER COUNTY HOSP. AUTH. |
| Georgia |
| 4.750 |
| 8/1/2009 |
| 70,000 |
| 0.18 | % | 67,757 |
| 0.20 | % |
40023503 |
| 40023503 |
| CITY OF ALMA |
| Georgia |
| 5.625 |
| 8/1/2004 |
| 50,000 |
| 0.13 | % | 50,000 |
| 0.15 | % |
40024201 |
| 40024201 |
| CITY OF CHICKAMAUGA |
| Georgia |
| 5.375 |
| 3/1/2005 |
| 280,000 |
| 0.72 | % | 241,794 |
| 0.72 | % |
40024501 |
| 40024501 |
| CITY OF CUMMING |
| Georgia |
| 5.000 |
| 1/1/2004 |
| 106,000 |
| 0.27 | % | 94,924 |
| 0.28 | % |
40025101 |
| 40025101 |
| CITY OF EATONTON |
| Georgia |
| 5.000 |
| 9/1/2008 |
| 410,000 |
| 1.05 | % | 359,894 |
| 1.08 | % |
40025501 |
| 40025501 |
| CITY OF FORT GAINES |
| Georgia |
| 4.750 |
| 1/1/2008 |
| 295,000 |
| 0.75 | % | 235,322 |
| 0.70 | % |
40027301 |
| 40027301 |
| CITY OF METTER |
| Georgia |
| 5.375 |
| 5/1/2011 |
| 250,000 |
| 0.64 | % | 205,511 |
| 0.62 | % |
40028502 |
| 40028502 |
| CITY OF WOODSTOCK |
| Georgia |
| 5.625 |
| 7/1/2013 |
| 24,000 |
| 0.06 | % | 23,537 |
| 0.07 | % |
40026501 |
| 40026501 |
| HOSP AUTH OF RANDOLPH CO |
| Georgia |
| 5.375 |
| 1/1/2005 |
| 46,000 |
| 0.12 | % | 41,438 |
| 0.12 | % |
40026401 |
| 40026401 |
| HOSPITAL AUTH OF CLAY CO |
| Georgia |
| 3.500 |
| 7/1/2004 |
| 47,909 |
| 0.12 | % | 46,705 |
| 0.14 | % |
40026402 |
| 40026402 |
| HOSPITAL AUTH OF CLAY CO |
| Georgia |
| 3.750 |
| 7/1/2006 |
| 39,000 |
| 0.10 | % | 38,387 |
| 0.11 | % |
40027001 |
| 40027001 |
| JONES COUNTY |
| Georgia |
| 4.500 |
| 7/1/2004 |
| 190,000 |
| 0.49 | % | 155,381 |
| 0.47 | % |
40025601 |
| 40025601 |
| TOWN OF FORT OGLETHORPE |
| Georgia |
| 6.000 |
| 10/1/2008 |
| 179,999 |
| 0.46 | % | 142,731 |
| 0.43 | % |
|
|
|
|
|
| Georgia Total |
|
|
| 2,041,908 |
| 5.22 | % | 1,756,454 |
| 5.26 | % | ||
40029501 |
| 40029501 |
| CITY OF CHAMPAIGN |
| Illinois |
| 4.000 |
| 5/1/2005 |
| 495,000 |
| 1.26 | % | 393,828 |
| 1.18 | % |
40029801 |
| 40029801 |
| CITY OF EAST ST. LOUIS |
| Illinois |
| 4.750 |
| 7/1/2010 |
| 460,000 |
| 1.18 | % | 435,680 |
| 1.30 | % |
40030101 |
| 40030101 |
| CITY OF JOHNSTON CITY |
| Illinois |
| 5.625 |
| 11/1/2006 |
| 235,000 |
| 0.60 | % | 205,092 |
| 0.61 | % |
40030801 |
| 40030801 |
| CITY OF MONMOUTH |
| Illinois |
| 3.875 |
| 7/1/2006 |
| 130,000 |
| 0.33 | % | 105,522 |
| 0.32 | % |
40031101 |
| 40031101 |
| CITY OF PRINCETON |
| Illinois |
| 4.500 |
| 10/1/2007 |
| 82,000 |
| 0.21 | % | 75,031 |
| 0.22 | % |
40031401 |
| 40031401 |
| CITY OF STERLING |
| Illinois |
| 5.000 |
| 5/1/2009 |
| 102,000 |
| 0.26 | % | 90,186 |
| 0.27 | % |
40029701 |
| 40029701 |
| CURRAN GARDNER TOWNSHIPS |
| Illinois |
| 4.500 |
| 11/1/2007 |
| 559,999 |
| 1.43 | % | 509,399 |
| 1.53 | % |
40030601 |
| 40030601 |
| LAKE BLUFF PARK DISTRICT |
| Illinois |
| 4.000 |
| 12/1/2006 |
| 460,000 |
| 1.18 | % | 397,837 |
| 1.19 | % |
|
|
|
|
|
| Illinois Total |
|
|
| 2,523,999 |
| 6.45 | % | 2,212,575 |
| 6.63 | % |
ID |
| Cusip Number |
| Description |
| State |
| Stated |
| Maturity |
| Current |
| Percentage of |
| Amortized |
| Percentage of |
|
40028601 |
| 40028601 |
| CITY OF CHUBBUCK |
| Indiana |
| 6.000 |
| 10/1/2012 |
| 290,000 |
| 0.74 | % | 242,212 |
| 0.73 | % |
40031601 |
| 40031601 |
| CORDRY-SWEETWATER CONSER |
| Indiana |
| 5.000 |
| 4/1/2011 |
| 230,000 |
| 0.59 | % | 186,138 |
| 0.56 | % |
40031701 |
| 40031701 |
| TOWN OF HANOVER |
| Indiana |
| 5.000 |
| 6/1/2006 |
| 52,000 |
| 0.13 | % | 48,290 |
| 0.14 | % |
40031901 |
| 40031901 |
| TOWN OF LYNNVILLE |
| Indiana |
| 4.000 |
| 6/1/2005 |
| 23,000 |
| 0.06 | % | 21,770 |
| 0.07 | % |
|
|
|
|
|
| Indiana Total |
|
|
| 595,000 |
| 1.52 | % | 498,410 |
| 1.49 | % | ||
40032101 |
| 40032101 |
| CITY OF EVANSDALE |
| Iowa |
| 3.625 |
| 10/1/2009 |
| 124,000 |
| 0.32 | % | 101,647 |
| 0.30 | % |
|
|
|
|
|
| Iowa Total |
|
|
| 124,000 |
| 0.32 | % | 101,647 |
| 0.30 | % | ||
40032601 |
| 40032601 |
| CITY ADAIRVILLE |
| Kentucky |
| 3.625 |
| 3/1/2004 |
| 14,000 |
| 0.04 | % | 13,910 |
| 0.04 | % |
40032602 |
| 40032602 |
| CITY ADAIRVILLE |
| Kentucky |
| 4.500 |
| 3/1/2008 |
| 76,000 |
| 0.19 | % | 62,275 |
| 0.19 | % |
40033201 |
| 40033201 |
| CITY OF BOWLING GREEN |
| Kentucky |
| 5.375 |
| 5/1/2004 |
| 60,000 |
| 0.15 | % | 59,182 |
| 0.18 | % |
40033301 |
| 40033301 |
| CITY OF BRANDENBURG |
| Kentucky |
| 3.375 |
| 7/1/2003 |
| 46,000 |
| 0.12 | % | 46,000 |
| 0.14 | % |
40034101 |
| 40034101 |
| CITY OF COLD SPRING |
| Kentucky |
| 5.375 |
| 8/1/2010 |
| 240,000 |
| 0.61 | % | 199,922 |
| 0.60 | % |
40034301 |
| 40034301 |
| CITY OF CRESCENT SPRINGS |
| Kentucky |
| 4.500 |
| 11/1/2007 |
| 78,000 |
| 0.20 | % | 68,493 |
| 0.21 | % |
40034401 |
| 40034401 |
| CITY OF CROFTON |
| Kentucky |
| 3.625 |
| 3/1/2004 |
| 10,000 |
| 0.03 | % | 9,938 |
| 0.03 | % |
40034402 |
| 40034402 |
| CITY OF CROFTON |
| Kentucky |
| 3.625 |
| 3/1/2004 |
| 3,000 |
| 0.01 | % | 2,982 |
| 0.01 | % |
40034901 |
| 40034901 |
| CITY OF FLEMINGSBURG |
| Kentucky |
| 3.750 |
| 10/1/2004 |
| 84,000 |
| 0.21 | % | 80,640 |
| 0.24 | % |
40035501 |
| 40035501 |
| CITY OF HARDIN |
| Kentucky |
| 3.750 |
| 9/1/2004 |
| 620,000 |
| 1.58 | % | 495,606 |
| 1.48 | % |
40036202 |
| 40036202 |
| CITY OF HODGENVILLE |
| Kentucky |
| 4.500 |
| 5/1/2008 |
| 10,000 |
| 0.03 | % | 9,740 |
| 0.03 | % |
40036703 |
| 40036703 |
| CITY OF JACKSON |
| Kentucky |
| 6.000 |
| 5/1/2008 |
| 8,000 |
| 0.02 | % | 7,976 |
| 0.02 | % |
40036801 |
| 40036801 |
| CITY OF JENKINS |
| Kentucky |
| 3.500 |
| 7/1/2004 |
| 270,000 |
| 0.69 | % | 215,737 |
| 0.65 | % |
40037101 |
| 40037101 |
| CITY OF LIBERTY |
| Kentucky |
| 3.625 |
| 5/1/2004 |
| 186,000 |
| 0.48 | % | 168,642 |
| 0.50 | % |
40037201 |
| 40037201 |
| CITY OF MANCHESTER |
| Kentucky |
| 3.500 |
| 12/1/2003 |
| 115,000 |
| 0.29 | % | 100,117 |
| 0.30 | % |
40037202 |
| 40037202 |
| CITY OF MANCHESTER |
| Kentucky |
| 3.625 |
| 12/1/2003 |
| 28,000 |
| 0.07 | % | 25,193 |
| 0.08 | % |
40037501 |
| 40037501 |
| CITY OF MCKEE |
| Kentucky |
| 3.625 |
| 5/1/2004 |
| 23,000 |
| 0.06 | % | 22,575 |
| 0.07 | % |
40037502 |
| 40037502 |
| CITY OF MCKEE |
| Kentucky |
| 3.750 |
| 5/1/2005 |
| 22,000 |
| 0.06 | % | 21,711 |
| 0.07 | % |
40037603 |
| 40037603 |
| CITY OF MIDDLESBORO |
| Kentucky |
| 4.750 |
| 4/1/2010 |
| 15,000 |
| 0.04 | % | 15,000 |
| 0.04 | % |
40038601 |
| 40038601 |
| CITY OF PERRYVILLE |
| Kentucky |
| 4.500 |
| 4/1/2009 |
| 1,000 |
| 0.00 | % | 1,000 |
| 0.00 | % |
40038801 |
| 40038801 |
| CITY OF PRESTONSBURG |
| Kentucky |
| 3.500 |
| 11/1/2003 |
| 73,000 |
| 0.19 | % | 69,635 |
| 0.21 | % |
40039202 |
| 40039202 |
| CITY OF SHEPHERDSVILLE |
| Kentucky |
| 3.875 |
| 6/1/2006 |
| 84,000 |
| 0.21 | % | 66,905 |
| 0.20 | % |
ID |
| Cusip Number |
| Description |
| State |
| Stated |
| Maturity |
| Current |
| Percentage of |
| Amortized |
| Percentage of |
|
40039503 |
| 40039503 |
| CITY OF STANTON |
| Kentucky |
| 4.125 |
| 4/1/2006 |
| 9,000 |
| 0.02 | % | 8,882 |
| 0.03 | % |
40039504 |
| 40039504 |
| CITY OF STANTON |
| Kentucky |
| 4.750 |
| 4/1/2007 |
| 6,000 |
| 0.02 | % | 5,621 |
| 0.02 | % |
40035302 |
| 40035302 |
| GREEN RIVER VALLEY WATER |
| Kentucky |
| 6.000 |
| 4/1/2011 |
| 316,000 |
| 0.81 | % | 261,660 |
| 0.78 | % |
40035901 |
| 40035901 |
| HENDRON WATER DISTRICT |
| Kentucky |
| 3.500 |
| 2/1/2004 |
| 194,000 |
| 0.50 | % | 163,035 |
| 0.49 | % |
40035902 |
| 40035902 |
| HENDRON WATER DISTRICT |
| Kentucky |
| 5.375 |
| 2/1/2011 |
| 54,000 |
| 0.14 | % | 54,000 |
| 0.16 | % |
40036101 |
| 40036101 |
| HICKORY WATER DIST. |
| Kentucky |
| 3.750 |
| 8/1/2006 |
| 17,000 |
| 0.04 | % | 16,109 |
| 0.05 | % |
40037402 |
| 40037402 |
| MCCREARY CO. WATER DISTR |
| Kentucky |
| 3.625 |
| 4/1/2005 |
| 155,000 |
| 0.40 | % | 141,569 |
| 0.42 | % |
40037403 |
| 40037403 |
| MCCREARY CO. WATER DISTR |
| Kentucky |
| 4.750 |
| 4/1/2009 |
| 74,000 |
| 0.19 | % | 67,447 |
| 0.20 | % |
40039001 |
| 40039001 |
| RUSSELLVILLE NO.#1 WATER |
| Kentucky |
| 3.750 |
| 7/1/2005 |
| 49,000 |
| 0.13 | % | 43,099 |
| 0.13 | % |
40039701 |
| 40039701 |
| TRIGG CO. PUBLIC HOSP. CORP. |
| Kentucky |
| 4.000 |
| 12/1/2006 |
| 62,000 |
| 0.16 | % | 54,813 |
| 0.16 | % |
40039801 |
| 40039801 |
| WARREN COUNTY WATER DIST |
| Kentucky |
| 3.750 |
| 1/1/2006 |
| 55,000 |
| 0.14 | % | 51,425 |
| 0.15 | % |
40040401 |
| 40040401 |
| WURTLAND WATER DISTRICT |
| Kentucky |
| 3.625 |
| 5/1/2004 |
| 15,000 |
| 0.04 | % | 14,807 |
| 0.04 | % |
|
|
|
|
|
| Kentucky Total |
|
|
| 3,072,000 |
| 7.85 | % | 2,645,646 |
| 7.92 | % | ||
40040701 |
| 40040701 |
| BAYOU LIBERTY WATER ASSOC. |
| Louisiana |
| 5.375 |
| 9/1/2011 |
| 140,000 |
| 0.36 | % | 112,949 |
| 0.34 | % |
40041201 |
| 40041201 |
| CITY OF DONALDSONVILLE |
| Louisiana |
| 4.500 |
| 4/1/2009 |
| 250,000 |
| 0.64 | % | 199,137 |
| 0.60 | % |
40041701 |
| 40041701 |
| IBERVILLE PARISH WATERWORKS 3 |
| Louisiana |
| 5.000 |
| 4/1/2010 |
| 351,000 |
| 0.90 | % | 289,880 |
| 0.87 | % |
40040601 |
| 40040601 |
| PARISH OF AVOYELLES HOSP |
| Louisiana |
| 4.750 |
| 11/1/2009 |
| 123,000 |
| 0.31 | % | 103,535 |
| 0.31 | % |
40042501 |
| 40042501 |
| PINE HILLS WATERWORKS DI |
| Louisiana |
| 4.500 |
| 7/1/2008 |
| 57,000 |
| 0.15 | % | 46,470 |
| 0.14 | % |
40042601 |
| 40042601 |
| PRAIRIE RD, WATER DIST. |
| Louisiana |
| 5.625 |
| 12/1/2012 |
| 146,000 |
| 0.37 | % | 124,953 |
| 0.37 | % |
40041501 |
| 40041501 |
| TOWN OF GRAMBLING |
| Louisiana |
| 5.375 |
| 1/1/2010 |
| 360,000 |
| 0.92 | % | 297,136 |
| 0.89 | % |
40041301 |
| 40041301 |
| VILLAGE OF EAST HODGE |
| Louisiana |
| 6.000 |
| 9/1/2011 |
| 28,000 |
| 0.07 | % | 24,919 |
| 0.07 | % |
40042401 |
| 40042401 |
| VILLAGE OF PARKS |
| Louisiana |
| 3.750 |
| 2/1/2007 |
| 207,000 |
| 0.53 | % | 171,540 |
| 0.51 | % |
40042402 |
| 40042402 |
| VILLAGE OF PARKS |
| Louisiana |
| 5.625 |
| 8/1/2012 |
| 113,000 |
| 0.29 | % | 98,407 |
| 0.29 | % |
40043001 |
| 40043001 |
| VILLAGE OF SOUTH MANSFIE |
| Louisiana |
| 4.000 |
| 1/1/2008 |
| 190,000 |
| 0.49 | % | 143,505 |
| 0.43 | % |
40043501 |
| 40043501 |
| VILLAGE OF WOODWORTH |
| Louisiana |
| 4.500 |
| 6/1/2009 |
| 41,000 |
| 0.10 | % | 36,336 |
| 0.11 | % |
40040801 |
| 40040801 |
| MCCRACKEN SANITARY DIST 2 |
| Louisiana |
| 6.000 |
| 11/1/2011 |
| 64,000 |
| 0.16 | % | 53,617 |
| 0.16 | % |
|
|
|
|
|
| Louisiana Total |
|
|
| 2,070,000 |
| 5.29 | % | 1,702,384 |
| 5.10 | % | ||
40044501 |
| 40044501 |
| CITY OF REED CITY |
| Michigan |
| 5.000 |
| 2/1/2009 |
| 60,000 |
| 0.15 | % | 54,078 |
| 0.16 | % |
40044401 |
| 40044401 |
| VILLAGE OF ONTONAGON |
| Michigan |
| 4.500 |
| 10/1/2006 |
| 255,000 |
| 0.65 | % | 216,657 |
| 0.65 | % |
|
|
|
|
|
| Michigan Total |
|
|
| 315,000 |
| 0.80 | % | 270,735 |
| 0.81 | % |
ID |
| Cusip Number |
| Description |
| State |
| Stated |
| Maturity |
| Current |
| Percentage of |
| Amortized |
| Percentage of |
|
40044901 |
| 40044901 |
| CITY OF LAKE CITY |
| Minnesota |
| 4.000 |
| 10/1/2006 |
| 100,00 0 |
| 0.26 | % | 89,032 |
| 0.27 | % |
|
|
|
|
|
| Minnesota Total |
|
|
| 100,000 |
|
|
| 89,032 |
|
|
| ||
40047002 |
| 40047002 |
| CITY OF LONG BEACH |
| Mississippi |
| 4.500 |
| 8/1/2003 |
| 100,000 |
| 0.26 | % | 100,000 |
| 0.30 | % |
40047003 |
| 40047003 |
| CITY OF LONG BEACH |
| Mississippi |
| 4.500 |
| 8/1/2003 |
| 1,000 |
| 0.00 | % | 1,000 |
| 0.00 | % |
40049302 |
| 40049302 |
| CITY OF WAVELAND |
| Mississippi |
| 5.375 |
| 7/1/2007 |
| 196,000 |
| 0.50 | % | 178,548 |
| 0.53 | % |
40049401 |
| 40049401 |
| CITY OF WAYNESBORO |
| Mississippi |
| 6.000 |
| 1/1/2008 |
| 115,000 |
| 0.29 | % | 106,238 |
| 0.32 | % |
|
|
|
|
|
| Mississippi Total |
|
|
| 412,000 |
| 1.05 | % | 385,786 |
| 1.16 | % | ||
40049901 |
| 40049901 |
| CASS CO WATER DIST 2 |
| Missouri |
| 5.375 |
| 3/1/2005 |
| 41,000 |
| 0.10 | % | 39,926 |
| 0.12 | % |
40049601 |
| 40049601 |
| CITY OF AURORA |
| Missouri |
| 5.000 |
| 10/1/2004 |
| 43,000 |
| 0.11 | % | 41,535 |
| 0.12 | % |
40050501 |
| 40050501 |
| JACKSON CO WATER DIST 15 |
| Missouri |
| 5.625 |
| 12/1/2008 |
| 456,000 |
| 1.17 | % | 392,953 |
| 1.18 | % |
|
|
|
|
|
| Missouri Total |
|
|
| 540,000 |
| 1.38 | % | 474,414 |
| 1.42 | % | ||
40051701 |
| 40051701 |
| THE WRIGHTSTOWN MUNICIPA |
| New Jersey |
| 5.625 |
| 1/1/2016 |
| 253,000 |
| 0.65 | % | 187,017 |
| 0.56 | % |
|
|
|
|
|
| New Jersey Total |
|
|
| 253,000 |
| 0.65 | % | 187,017 |
| 0.56 | % | ||
40052001 |
| 40052001 |
| VILLAGE OF CHAMA |
| New Mexico |
| 3.750 |
| 11/1/2004 |
| 24,000 |
| 0.06 | % | 23,179 |
| 0.07 | % |
|
|
|
|
|
| New Mexico Total |
|
|
| 24,000 |
| 0.06 | % | 23,179 |
| 0.07 | % | ||
40057301 |
| 40057301 |
| TAYLORTOWN SANITARY DIST |
| North Carolina |
| 4.000 |
| 6/1/2005 |
| 3,000 |
| 0.01 | % | 2,960 |
| 0.01 | % |
40052702 |
| 40052702 |
| TOWN OF AURORA |
| North Carolina |
| 3.750 |
| 6/1/2004 |
| 32,000 |
| 0.08 | % | 30,702 |
| 0.09 | % |
40052801 |
| 40052801 |
| TOWN OF BELHAVEN |
| North Carolina |
| 4.500 |
| 6/1/2005 |
| 26,000 |
| 0.07 | % | 24,905 |
| 0.07 | % |
40052901 |
| 40052901 |
| TOWN OF BOONE |
| North Carolina |
| 3.750 |
| 6/1/2005 |
| 22,000 |
| 0.06 | % | 21,697 |
| 0.06 | % |
40052902 |
| 40052902 |
| TOWN OF BOONE |
| North Carolina |
| 3.750 |
| 6/1/2004 |
| 19,940 |
| 0.05 | % | 19,079 |
| 0.06 | % |
40053601 |
| 40053601 |
| TOWN OF CREEDMOOR |
| North Carolina |
| 4.000 |
| 6/1/2005 |
| 4,000 |
| 0.01 | % | 3,814 |
| 0.01 | % |
40054001 |
| 40054001 |
| TOWN OF ELM CITY |
| North Carolina |
| 4.000 |
| 6/1/2005 |
| 21,000 |
| 0.05 | % | 19,394 |
| 0.06 | % |
40054002 |
| 40054002 |
| TOWN OF ELM CITY |
| North Carolina |
| 4.000 |
| 6/1/2006 |
| 58,000 |
| 0.15 | % | 53,429 |
| 0.16 | % |
40054402 |
| 40054402 |
| TOWN OF GRANITE QUARRY |
| North Carolina |
| 4.500 |
| 6/1/2006 |
| 38,000 |
| 0.10 | % | 36,191 |
| 0.11 | % |
40054601 |
| 40054601 |
| TOWN OF HAVELOCK |
| North Carolina |
| 4.000 |
| 6/1/2005 |
| 112,000 |
| 0.29 | % | 102,984 |
| 0.31 | % |
40054602 |
| 40054602 |
| TOWN OF HAVELOCK |
| North Carolina |
| 4.000 |
| 6/1/2006 |
| 4,500 |
| 0.01 | % | 4,434 |
| 0.01 | % |
40055201 |
| 40055201 |
| TOWN OF KNIGHTDALE |
| North Carolina |
| 4.000 |
| 6/1/2004 |
| 15,000 |
| 0.04 | % | 14,818 |
| 0.04 | % |
40055301 |
| 40055301 |
| TOWN OF LOWELL |
| North Carolina |
| 4.500 |
| 6/1/2004 |
| 30,000 |
| 0.08 | % | 27,515 |
| 0.08 | % |
40055401 |
| 40055401 |
| TOWN OF MANTEO |
| North Carolina |
| 4.000 |
| 6/1/2006 |
| 2,000 |
| 0.01 | % | 1,975 |
| 0.01 | % |
ID |
| Cusip Number |
| Description |
| State |
| Stated |
| Maturity |
| Current |
| Percentage of |
| Amortized |
| Percentage of |
|
40055802 |
| 40055802 |
| TOWN OF NEWLAND |
| North Carolina |
| 3.750 |
| 6/1/2004 |
| 10,000 |
| 0.03 | % | 9,103 |
| 0.03 | % |
40055902 |
| 40055902 |
| TOWN OF NEWPORT |
| North Carolina |
| 5.625 |
| 6/1/2007 |
| 45,000 |
| 0.11 | % | 40,024 |
| 0.12 | % |
40056301 |
| 40056301 |
| TOWN OF PRINCEVILLE |
| North Carolina |
| 6.000 |
| 6/1/2008 |
| 8,000 |
| 0.02 | % | 7,645 |
| 0.02 | % |
|
|
|
|
|
| North Carolina |
|
| 450,440 |
| 1.15 | % | 420,669 |
| 1.26 | % | |||
40058301 |
| 40058301 |
| CITY OF LINCOLN HEIGHTS |
| Ohio |
| 6.000 |
| 3/15/2005 |
| 34,000 |
| 0.09 | % | 31,172 |
| 0.09 | % |
40058302 |
| 40058302 |
| CITY OF LINCON HEIGHTS |
| Ohio |
| 6.000 |
| 3/15/2005 |
| 14,000 |
| 0.04 | % | 13,621 |
| 0.04 | % |
40058601 |
| 40058601 |
| SCIOTO BOARD OF COMMISSIONERS |
| Ohio |
| 5.375 |
| 5/1/2010 |
| 8,000 |
| 0.02 | % | 7,783 |
| 0.02 | % |
40058001 |
| 40058001 |
| VILLAGE OF ARCANUM |
| Ohio |
| 4.000 |
| 5/1/2006 |
| 220,000 |
| 0.56 | % | 182,628 |
| 0.55 | % |
40058701 |
| 40058701 |
| VILLAGE OF SOMERSET |
| Ohio |
| 3.625 |
| 1/1/2004 |
| 11,000 |
| 0.03 | % | 11,000 |
| 0.03 | % |
|
|
|
|
|
| Ohio Total |
|
|
| 287,000 |
| 0.73 | % | 246,204 |
| 0.74 | % | ||
40059501 |
| 40059501 |
| BRYAN CO HOME AUT NURSIN |
| Oklahoma |
| 4.000 |
| 2/1/2007 |
| 36,000 |
| 0.09 | % | 32,005 |
| 0.10 | % |
40060002 |
| 40060002 |
| COALGATE PULBIC WORKS AU |
| Oklahoma |
| 3.625 |
| 6/1/2004 |
| 13,000 |
| 0.03 | % | 12,783 |
| 0.04 | % |
40060801 |
| 40060801 |
| GROVE MUNICIPAL SERVICES |
| Oklahoma |
| 4.125 |
| 6/1/2007 |
| 53,000 |
| 0.14 | % | 46,768 |
| 0.14 | % |
40061201 |
| 40061201 |
| MENO PUBLIC WORKS AUTHOR |
| Oklahoma |
| 3.875 |
| 1/1/2004 |
| 3,000 |
| 0.01 | % | 3,000 |
| 0.01 | % |
40061301 |
| 40061301 |
| MOORE PUBLIC WORKS AUTHO |
| Oklahoma |
| 5.000 |
| 1/1/2010 |
| 480,000 |
| 1.23 | % | 401,768 |
| 1.20 | % |
40061502 |
| 40061502 |
| MULDROW UTILITY AUTHORIT |
| Oklahoma |
| 5.000 |
| 4/1/2009 |
| 245,000 |
| 0.63 | % | 210,312 |
| 0.63 | % |
40062101 |
| 40062101 |
| PAULS VALLEY HOSP AUTHOR |
| Oklahoma |
| 4.500 |
| 4/1/2007 |
| 153,000 |
| 0.39 | % | 135,685 |
| 0.41 | % |
40062801 |
| 40062801 |
| RINGWOOD PUBLIC WORKS AU |
| Oklahoma |
| 3.875 |
| 2/1/2004 |
| 4,000 |
| 0.01 | % | 3,988 |
| 0.01 | % |
40062901 |
| 40062901 |
| ROOSEVELT PUB WORKS AUTH |
| Oklahoma |
| 3.875 |
| 4/1/2006 |
| 19,000 |
| 0.05 | % | 17,495 |
| 0.05 | % |
40063401 |
| 40063401 |
| VALLEY VIEW HOSPITAL AUT |
| Oklahoma |
| 4.125 |
| 12/1/2007 |
| 9,000 |
| 0.02 | % | 9,000 |
| 0.03 | % |
40063201 |
| 40063201 |
| TOWN OF EUGENE |
| Oklahoma |
| 3.625 |
| 7/1/2003 |
| 276,000 |
| 0.71 | % | 235,291 |
| 0.70 | % |
|
|
|
|
|
| Oklahoma Total |
|
|
| 1,291,000 |
| 3.30 | % | 1,108,095 |
| 3.32 | % | ||
40065301 |
| 40065301 |
| CITY OF BEAUFORT |
| South Carolina |
| 5.625 |
| 10/1/2014 |
| 834,000 |
| 2.13 | % | 628,913 |
| 1.88 | % |
40066001 |
| 40066001 |
| CITY OF DILLON |
| South Carolina |
| 6.000 |
| 9/1/2011 |
| 380,000 |
| 0.97 | % | 314,572 |
| 0.94 | % |
40068901 |
| 40068901 |
| CITY OF WALTERBORO |
| South Carolina |
| 6.000 |
| 7/1/2006 |
| 137,000 |
| 0.35 | % | 115,206 |
| 0.34 | % |
40066501 |
| 40066501 |
| TOWN OF FAIRFAX |
| South Carolina |
| 4.750 |
| 4/1/2009 |
| 2,000 |
| 0.01 | % | 2,000 |
| 0.01 | % |
40066901 |
| 40066901 |
| TOWN OF HOLLY HILL |
| South Carolina |
| 3.625 |
| 8/1/2003 |
| 35,000 |
| 0.09 | % | 35,000 |
| 0.10 | % |
40068001 |
| 40068001 |
| TOWN OF PICKENS |
| South Carolina |
| 4.500 |
| 9/1/2003 |
| 308,000 |
| 0.79 | % | 231,583 |
| 0.69 | % |
40068501 |
| 40068501 |
| TOWN OF ST STEPHEN |
| South Carolina |
| 5.375 |
| 10/1/2013 |
| 140,000 |
| 0.36 | % | 115,399 |
| 0.35 | % |
40068701 |
| 40068701 |
| TOWN OF SUMMERTON |
| South Carolina |
| 4.750 |
| 4/1/2010 |
| 103,000 |
| 0.26 | % | 98,261 |
| 0.29 | % |
ID |
| Cusip Number |
| Description |
| State |
| Stated |
| Maturity |
| Current |
| Percentage of |
| Amortized |
| Percentage of |
|
40069001 |
| 40069001 |
| TOWN OF WARE SHOALS |
| South Carolina |
| 5.375 |
| 7/1/2009 |
| 56,000 |
| 0.14 | % | 48,565 |
| 0.15 | % |
40069002 |
| 40069002 |
| TOWN OF WARE SHOALS |
| South Carolina |
| 5.375 |
| 7/1/2003 |
| 33,000 |
| 0.08 | % | 33,000 |
| 0.10 | % |
|
|
|
|
|
| South Carolina |
|
|
| 2,028,000 |
| 5.18 | % | 1,622,499 |
| 4.86 | % | ||
40069201 |
| 40069201 |
| CITY OF NORTH SIOUX CITY |
| South Dokota |
| 5.625 |
| 3/1/2012 |
| 72,000 |
| 0.18 | % | 57,554 |
| 0.17 | % |
|
|
|
|
|
| South Dokota |
|
|
| 72,000 |
| 0.18 | % | 57,554 |
| 0.17 | % | ||
40069802 |
| 40069802 |
| CITY OF ARDMORE |
| Tennessee |
| 5.000 |
| 7/1/2009 |
| 6,000 |
| 0.02 | % | 5,106 |
| 0.02 | % |
40069803 |
| 40069803 |
| CITY OF ARDMORE |
| Tennessee |
| 5.000 |
| 7/1/2009 |
| 66,000 |
| 0.17 | % | 56,408 |
| 0.17 | % |
40070001 |
| 40070001 |
| CITY OF ATHENS |
| Tennessee |
| 4.500 |
| 10/1/2008 |
| 340,000 |
| 0.87 | % | 287,446 |
| 0.86 | % |
40071402 |
| 40071402 |
| CITY OF DUNLAP |
| Tennessee |
| 4.500 |
| 6/1/2004 |
| 68,997 |
| 0.18 | % | 64,524 |
| 0.19 | % |
40071701 |
| 40071701 |
| CITY OF ERIN |
| Tennessee |
| 3.625 |
| 12/1/2003 |
| 232,000 |
| 0.59 | % | 201,377 |
| 0.60 | % |
40072001 |
| 40072001 |
| CITY OF FRIENDSVILLE |
| Tennessee |
| 3.875 |
| 8/1/2003 |
| 45,000 |
| 0.11 | % | 44,333 |
| 0.13 | % |
40072201 |
| 40072201 |
| CITY OF GOODLETTSVILLE |
| Tennessee |
| 4.500 |
| 6/1/2009 |
| 13,000 |
| 0.03 | % | 13,000 |
| 0.04 | % |
40074401 |
| 40074401 |
| CITY OF RAMER |
| Tennessee |
| 5.375 |
| 3/1/2010 |
| 25,000 |
| 0.06 | % | 23,803 |
| 0.07 | % |
40071801 |
| 40071801 |
| FENTRESS COUNTY UTILITY |
| Tennessee |
| 3.750 |
| 5/1/2005 |
| 90,000 |
| 0.23 | % | 84,938 |
| 0.25 | % |
40071901 |
| 40071901 |
| FIRST UTILITY DIST |
| Tennessee |
| 3.750 |
| 8/1/2005 |
| 11,000 |
| 0.03 | % | 11,000 |
| 0.03 | % |
40072602 |
| 40072602 |
| HUNTSVILLE UTILITY DISTR |
| Tennessee |
| 4.500 |
| 9/1/2004 |
| 3,000 |
| 0.01 | % | 3,000 |
| 0.01 | % |
40074201 |
| 40074201 |
| PLATEAU UTIL DIST OF |
| Tennessee |
| 3.500 |
| 8/1/2003 |
| 220,000 |
| 0.56 | % | 183,250 |
| 0.55 | % |
40076001 |
| 40076001 |
| THE DAISEY SODDY FALLING |
| Tennessee |
| 5.625 |
| 6/1/2012 |
| 75,000 |
| 0.19 | % | 69,120 |
| 0.21 | % |
40070101 |
| 40070101 |
| TOWN OF BAXTER |
| Tennessee |
| 3.750 |
| 9/1/2005 |
| 20,000 |
| 0.05 | % | 18,379 |
| 0.06 | % |
40071001 |
| 40071001 |
| TOWN OF CHURCHILL |
| Tennessee |
| 4.500 |
| 1/1/2009 |
| 45,000 |
| 0.11 | % | 43,575 |
| 0.13 | % |
40072101 |
| 40072101 |
| TOWN OF GAINESBORO |
| Tennessee |
| 3.625 |
| 8/1/2003 |
| 145,000 |
| 0.37 | % | 135,888 |
| 0.41 | % |
40072401 |
| 40072401 |
| TOWN OF GREENEVILLE |
| Tennessee |
| 3.750 |
| 7/1/2006 |
| 133,000 |
| 0.34 | % | 112,170 |
| 0.34 | % |
40072402 |
| 40072402 |
| TOWN OF GREENVILLE |
| Tennessee |
| 3.750 |
| 7/1/2006 |
| 410,000 |
| 1.05 | % | 349,664 |
| 1.05 | % |
40073102 |
| 40073102 |
| TOWN OF LIVINGSTON |
| Tennessee |
| 5.375 |
| 12/1/2005 |
| 10,000 |
| 0.03 | % | 10,000 |
| 0.03 | % |
40073401 |
| 40073401 |
| TOWN OF MICHIE |
| Tennessee |
| 4.500 |
| 7/1/2009 |
| 12,000 |
| 0.03 | % | 12,000 |
| 0.04 | % |
40073701 |
| 40073701 |
| TOWN OF OLIVER SPRINGS |
| Tennessee |
| 5.000 |
| 12/1/2008 |
| 33,000 |
| 0.08 | % | 27,720 |
| 0.08 | % |
40074001 |
| 40074001 |
| TOWN OF PIKESVILLE |
| Tennessee |
| 3.500 |
| 12/1/2003 |
| 15,000 |
| 0.04 | % | 14,378 |
| 0.04 | % |
40075701 |
| 40075701 |
| TOWN OF SPENCER |
| Tennessee |
| 5.375 |
| 3/1/2005 |
| 2,000 |
| 0.01 | % | 1,989 |
| 0.01 | % |
40075702 |
| 40075702 |
| TOWN OF SPENCER |
| Tennessee |
| 3.500 |
| 3/1/2004 |
| 345,000 |
| 0.88 | % | 274,267 |
| 0.82 | % |
40076301 |
| 40076301 |
| TOWN OF WARTRACE |
| Tennessee |
| 5.375 |
| 12/1/2005 |
| 134,000 |
| 0.34 | % | 111,390 |
| 0.33 | % |
ID |
| Cusip Number |
| Description |
| State |
| Stated |
| Maturity |
| Current |
| Percentage of |
| Amortized |
| Percentage of |
|
40076201 |
| 40076201 |
| UN FORK-BAKEWELL |
| Tennessee |
| 4.500 |
| 6/1/2009 |
| 60,000 |
| 0.15 | % | 56,209 |
| 0.17 | % |
40076702 |
| 40076702 |
| UTILITY DISTRICT |
| Tennessee |
| 4.500 |
| 5/1/2008 |
| 178,000 |
| 0.45 | % | 153,604 |
| 0.46 | % |
|
|
|
|
|
| Tennessee Total |
|
|
| 2,736,997 |
| 6.99 | % | 2,368,538 |
| 7.09 | % | ||
40078401 |
| 40078401 |
| BRAZORIA COUNTY WATER CO |
| Texas |
| 5.000 |
| 11/1/2008 |
| 77,000 |
| 0.20 | % | 62,276 |
| 0.19 | % |
40078901 |
| 40078901 |
| CARDINAL MEADOWS IMPVT D |
| Texas |
| 4.500 |
| 3/1/2009 |
| 22,000 |
| 0.06 | % | 20,214 |
| 0.06 | % |
40079101 |
| 40079101 |
| CHILDRESS GENERAL HOSPIT |
| Texas |
| 4.500 |
| 7/1/2008 |
| 13,500 |
| 0.03 | % | 12,167 |
| 0.04 | % |
40079301 |
| 40079301 |
| CISCO HOSPITAL AUTHORITY |
| Texas |
| 5.000 |
| 9/1/2009 |
| 15,000 |
| 0.04 | % | 14,318 |
| 0.04 | % |
40080201 |
| 40080201 |
| CITY DALWORTHINGTON GARD |
| Texas |
| 4.500 |
| 7/1/2008 |
| 65,225 |
| 0.17 | % | 56,481 |
| 0.17 | % |
40077301 |
| 40077301 |
| CITY OF ARP |
| Texas |
| 4.000 |
| 6/15/2006 |
| 26,000 |
| 0.07 | % | 23,584 |
| 0.07 | % |
40077503 |
| 40077503 |
| CITY OF AUBREY |
| Texas |
| 4.000 |
| 8/1/2006 |
| 34,362 |
| 0.09 | % | 28,906 |
| 0.09 | % |
40078003 |
| 40078003 |
| CITY OF BLUM |
| Texas |
| 4.000 |
| 4/1/2005 |
| 218,000 |
| 0.56 | % | 187,875 |
| 0.56 | % |
40078702 |
| 40078702 |
| CITY OF BYERS |
| Texas |
| 4.000 |
| 8/1/2006 |
| 210,000 |
| 0.54 | % | 171,856 |
| 0.51 | % |
40079401 |
| 40079401 |
| CITY OF COMO |
| Texas |
| 4.000 |
| 4/1/2005 |
| 8,000 |
| 0.02 | % | 7,643 |
| 0.02 | % |
40079402 |
| 40079402 |
| CITY OF COMO |
| Texas |
| 4.000 |
| 4/1/2005 |
| 1,900 |
| 0.00 | % | 1,814 |
| 0.01 | % |
40079502 |
| 40079502 |
| CITY OF COPPELL |
| Texas |
| 4.000 |
| 5/1/2006 |
| 53,980 |
| 0.14 | % | 49,972 |
| 0.15 | % |
40079701 |
| 40079701 |
| CITY OF CRAWFORD |
| Texas |
| 3.750 |
| 12/1/2003 |
| 37,000 |
| 0.09 | % | 31,927 |
| 0.10 | % |
40080304 |
| 40080304 |
| CITY OF DODD CITY |
| Texas |
| 3.750 |
| 10/1/2004 |
| 6,000 |
| 0.02 | % | 6,000 |
| 0.02 | % |
40080801 |
| 40080801 |
| CITY OF FATE |
| Texas |
| 5.000 |
| 3/1/2010 |
| 143,000 |
| 0.37 | % | 115,670 |
| 0.35 | % |
40080901 |
| 40080901 |
| CITY OF GARY |
| Texas |
| 4.500 |
| 10/1/2007 |
| 475,000 |
| 1.21 | % | 383,142 |
| 1.15 | % |
40081102 |
| 40081102 |
| CITY OF GRAFORD |
| Texas |
| 3.750 |
| 12/1/2003 |
| 98,000 |
| 0.25 | % | 80,007 |
| 0.24 | % |
40081201 |
| 40081201 |
| CITY OF GREY FOREST |
| Texas |
| 4.500 |
| 12/1/2007 |
| 48,000 |
| 0.12 | % | 41,691 |
| 0.12 | % |
40081402 |
| 40081402 |
| CITY OF HASLET |
| Texas |
| 5.375 |
| 8/1/2011 |
| 8,000 |
| 0.02 | % | 7,749 |
| 0.02 | % |
40081501 |
| 40081501 |
| CITY OF HOOKS |
| Texas |
| 5.375 |
| 12/1/2010 |
| 89,000 |
| 0.23 | % | 75,153 |
| 0.23 | % |
40081901 |
| 40081901 |
| CITY OF HUXLEY |
| Texas |
| 5.000 |
| 3/1/2009 |
| 614,850 |
| 1.57 | % | 500,939 |
| 1.50 | % |
40082601 |
| 40082601 |
| CITY OF LAVERNIA |
| Texas |
| 6.000 |
| 2/1/2004 |
| 44,000 |
| 0.11 | % | 36,496 |
| 0.11 | % |
40083001 |
| 40083001 |
| CITY OF LUCAS |
| Texas |
| 5.000 |
| 12/1/2009 |
| 243,000 |
| 0.62 | % | 212,660 |
| 0.64 | % |
40083702 |
| 40083702 |
| CITY OF NEW HOME |
| Texas |
| 3.875 |
| 3/1/2004 |
| 4,150 |
| 0.01 | % | 4,150 |
| 0.01 | % |
40083801 |
| 40083801 |
| CITY OF NEW SUMMERFIELD |
| Texas |
| 3.750 |
| 5/1/2006 |
| 380,000 |
| 0.97 | % | 329,577 |
| 0.99 | % |
40083802 |
| 40083802 |
| CITY OF NEW SUMMERFIELD |
| Texas |
| 4.500 |
| 5/1/2007 |
| 96,000 |
| 0.25 | % | 76,985 |
| 0.23 | % |
40084901 |
| 40084901 |
| CITY OF QUEEN CITY |
| Texas |
| 5.375 |
| 12/1/2011 |
| 281,000 |
| 0.72 | % | 225,498 |
| 0.68 | % |
ID |
| Cusip Number |
| Description |
| State |
| Stated |
| Maturity |
| Current |
| Percentage of |
| Amortized |
| Percentage of |
|
40085001 |
| 40085001 |
| CITY OF QUINLAN |
| Texas |
| 3.875 |
| 7/1/2004 |
| 15,000 |
| 0.04 | % | 13,166 |
| 0.04 | % |
40085101 |
| 40085101 |
| CITY OF RAYMONDVILLE |
| Texas |
| 5.375 |
| 3/1/2010 |
| 432,997 |
| 1.11 | % | 382,257 |
| 1.14 | % |
40085201 |
| 40085201 |
| CITY OF RED OAK |
| Texas |
| 5.375 |
| 6/15/2012 |
| 405,000 |
| 1.03 | % | 345,363 |
| 1.03 | % |
40085401 |
| 40085401 |
| CITY OF RENO |
| Texas |
| 5.625 |
| 1/1/2013 |
| 185,000 |
| 0.47 | % | 157,166 |
| 0.47 | % |
40085502 |
| 40085502 |
| CITY OF RICHLAND SPRINGS |
| Texas |
| 3.750 |
| 5/1/2004 |
| 15,000 |
| 0.04 | % | 14,970 |
| 0.04 | % |
40085701 |
| 40085701 |
| CITY OF ROBINSON |
| Texas |
| 4.000 |
| 6/1/2005 |
| 7,000 |
| 0.02 | % | 5,952 |
| 0.02 | % |
40085702 |
| 40085702 |
| CITY OF ROBINSON |
| Texas |
| 4.500 |
| 6/1/2005 |
| 84,000 |
| 0.21 | % | 69,747 |
| 0.21 | % |
40086101 |
| 40086101 |
| CITY OF SANTA ANNA |
| Texas |
| 4.000 |
| 3/15/2006 |
| 120,000 |
| 0.31 | % | 97,285 |
| 0.29 | % |
40086601 |
| 40086601 |
| CITY OF SMILEY |
| Texas |
| 4.000 |
| 9/1/2005 |
| 3,922 |
| 0.01 | % | 3,898 |
| 0.01 | % |
40086804 |
| 40086804 |
| CITY OF SPRINGTOWN |
| Texas |
| 6.000 |
| 6/1/2012 |
| 27,000 |
| 0.07 | % | 24,869 |
| 0.07 | % |
40082001 |
| 40082001 |
| COUNTY MUNICIPAL WATER D |
| Texas |
| 5.000 |
| 4/1/2009 |
| 64,000 |
| 0.16 | % | 57,300 |
| 0.17 | % |
40080101 |
| 40080101 |
| COUNTY OF CULBERSON |
| Texas |
| 5.000 |
| 10/1/2009 |
| 26,500 |
| 0.07 | % | 24,051 |
| 0.07 | % |
40086001 |
| 40086001 |
| COUNTY OF SAN PATRICIO |
| Texas |
| 4.500 |
| 7/1/2008 |
| 45,000 |
| 0.11 | % | 43,294 |
| 0.13 | % |
40079801 |
| 40079801 |
| CROSBY MUNICIPAL DISTRIC |
| Texas |
| 5.625 |
| 1/1/2013 |
| 295,000 |
| 0.75 | % | 232,292 |
| 0.70 | % |
40079802 |
| 40079802 |
| CROSBY MUNICIPAL DISTRIC |
| Texas |
| 5.625 |
| 1/1/2013 |
| 8,000 |
| 0.02 | % | 7,866 |
| 0.02 | % |
40080501 |
| 40080501 |
| EL JARDIN WATER SUPP. CO |
| Texas |
| 4.750 |
| 12/1/2008 |
| 105,000 |
| 0.27 | % | 89,504 |
| 0.27 | % |
40080701 |
| 40080701 |
| FANNIN COUNTY HOSPITAL |
| Texas |
| 6.000 |
| 2/1/2011 |
| 100,000 |
| 0.26 | % | 80,775 |
| 0.24 | % |
40081601 |
| 40081601 |
| HOUSTON COUNTY HOSPITAL |
| Texas |
| 4.125 |
| 7/1/2007 |
| 35,000 |
| 0.09 | % | 28,963 |
| 0.09 | % |
40081602 |
| 40081602 |
| HOUSTON COUNTY HOSPITAL |
| Texas |
| 4.125 |
| 7/1/2007 |
| 7,000 |
| 0.02 | % | 6,935 |
| 0.02 | % |
40083201 |
| 40083201 |
| MACEDONIA-EYLAN FRESH WATER |
| Texas |
| 4.500 |
| 5/1/2010 |
| 129,000 |
| 0.33 | % | 104,320 |
| 0.31 | % |
40084801 |
| 40084801 |
| PORT MANSFIELD PUB UTIL |
| Texas |
| 3.875 |
| 12/1/2004 |
| 2,131 |
| 0.01 | % | 2,106 |
| 0.01 | % |
40085301 |
| 40085301 |
| RED RIVER AUTHORITY OF T |
| Texas |
| 4.500 |
| 4/1/2009 |
| 4,000 |
| 0.01 | % | 4,000 |
| 0.01 | % |
40085302 |
| 40085302 |
| RED RIVER AUTHORITY OF TX |
| Texas |
| 4.000 |
| 4/1/2004 |
| 50,000 |
| 0.13 | % | 47,116 |
| 0.14 | % |
40085601 |
| 40085601 |
| RIESEL MUNICIPAL UTIL DI |
| Texas |
| 3.750 |
| 12/1/2003 |
| 14,000 |
| 0.04 | % | 13,312 |
| 0.04 | % |
40086201 |
| 40086201 |
| SCHAEFER ROAD RURAL WATER |
| Texas |
| 5.000 |
| 2/1/2010 |
| 62,000 |
| 0.16 | % | 53,144 |
| 0.16 | % |
40086502 |
| 40086502 |
| SEYMOUR HOSPITAL AUTH. |
| Texas |
| 4.500 |
| 8/1/2007 |
| 36,000 |
| 0.09 | % | 33,411 |
| 0.10 | % |
40086501 |
| 40086501 |
| SEYMOUR HOSPITAL AUTHORI |
| Texas |
| 4.500 |
| 8/1/2007 |
| 46,000 |
| 0.12 | % | 38,686 |
| 0.12 | % |
40086701 |
| 40086701 |
| SOUTH LIMESTONE HOSPITAL |
| Texas |
| 6.000 |
| 10/1/2011 |
| 207,000 |
| 0.53 | % | 180,684 |
| 0.54 | % |
40077101 |
| 40077101 |
| TOWN OF ANTHONY |
| Texas |
| 5.625 |
| 8/1/2012 |
| 28,000 |
| 0.07 | % | 24,444 |
| 0.07 | % |
40079601 |
| 40079601 |
| TOWN OF CORBES |
| Texas |
| 5.375 |
| 1/1/2010 |
| 22,000 |
| 0.06 | % | 20,602 |
| 0.06 | % |
ID |
| Cusip Number |
| Description |
| State |
| Stated |
| Maturity |
| Current |
| Percentage of |
| Amortized |
| Percentage of |
|
40082803 |
| 40082803 |
| TOWN OF LITTLE ELM |
| Texas |
| 5.000 |
| 12/1/2008 |
| 275,000 |
| 0.70 | % | 219,046 |
| 0.66 | % |
40084601 |
| 40084601 |
| TOWN OF PLEASANT VALLEY |
| Texas |
| 4.500 |
| 11/1/2006 |
| 275,000 |
| 0.70 | % | 220,992 |
| 0.66 | % |
40087401 |
| 40087401 |
| TOWN OF WHITEHOUSE |
| Texas |
| 5.000 |
| 3/1/2010 |
| 295,000 |
| 0.75 | % | 241,584 |
| 0.72 | % |
40087301 |
| 40087301 |
| WEST HOSPITAL AUTHORITY |
| Texas |
| 5.375 |
| 12/1/2009 |
| 155,000 |
| 0.40 | % | 130,069 |
| 0.39 | % |
40087501 |
| 40087501 |
| WHITNEY HOSPITAL AUTHORI |
| Texas |
| 3.750 |
| 3/1/2007 |
| 98,000 |
| 0.25 | % | 84,526 |
| 0.25 | % |
|
|
|
|
|
| Texas Total |
|
|
|
|
| 6,990,517 |
| 17.86 | % | 5,868,445 |
| 17.57 | % |
40088301 |
| 40088301 |
| CITY OF HARRISVILLE |
| Utah |
| 4.500 |
| 7/1/2009 |
| 14,000 |
| 0.04 | % | 11,768 |
| 0.04 | % |
40088501 |
| 40088501 |
| CITY OF PLAIN CITY |
| Utah |
| 4.500 |
| 5/1/2012 |
| 30,000 |
| 0.08 | % | 24,394 |
| 0.07 | % |
40088601 |
| 40088601 |
| CITY OF PLEASANT VIEW |
| Utah |
| 6.000 |
| 9/1/2011 |
| 47,000 |
| 0.12 | % | 40,342 |
| 0.12 | % |
40088201 |
| 40088201 |
| FARR WEST CITY SEWER IMP |
| Utah |
| 4.500 |
| 11/1/2009 |
| 235,000 |
| 0.60 | % | 179,445 |
| 0.54 | % |
40088202 |
| 40088202 |
| FARR WEST CITY SEWER IMP |
| Utah |
| 4.500 |
| 11/1/2009 |
| 211,000 |
| 0.54 | % | 172,599 |
| 0.52 | % |
40088801 |
| 40088801 |
| SALT LAKE COUNTY |
| Utah |
| 6.000 |
| 7/1/2013 |
| 795,000 |
| 2.03 | % | 642,801 |
| 1.92 | % |
|
|
|
|
|
| Utah Total |
|
|
|
|
| 1,332,000 |
| 3.40 | % | 1,071,349 |
| 3.21 | % |
40089801 |
| 40089801 |
| PORT OF KINGSTON |
| Washington |
| 4.000 |
| 7/1/2006 |
| 210,645 |
| 0.54 | % | 191,865 |
| 0.57 | % |
40089802 |
| 40089802 |
| PORT OF KINGSTON |
| Washington |
| 5.000 |
| 7/1/2006 |
| 15,052 |
| 0.04 | % | 13,887 |
| 0.04 | % |
40089901 |
| 40089901 |
| TOWN OF STARBUCK |
| Washington |
| 3.875 |
| 7/1/2005 |
| 6,500 |
| 0.02 | % | 6,164 |
| 0.02 | % |
|
|
|
|
|
| Washington Total |
|
|
| 232,197 |
| 0.59 | % | 211,916 |
| 0.63 | % | ||
40090301 |
| 40090301 |
| CITY OF BENWOOD |
| West Virginia |
| 6.000 |
| 1/1/2012 |
| 96,000 |
| 0.25 | % | 80,560 |
| 0.24 | % |
40090401 |
| 40090401 |
| TOWN OF BETHANY |
| West Virginia |
| 3.875 |
| 9/1/2003 |
| 3,000 |
| 0.01 | % | 3,000 |
| 0.01 | % |
40092101 |
| 40092101 |
| TOWN OF RIVESVILLE MARIO |
| West Virginia |
| 3.375 |
| 7/1/2002 |
| 9,304 |
| 0.02 | % | 9,304 |
| 0.03 | % |
|
|
|
|
|
| West Virginia Total |
|
|
| 108,304 |
| 0.28 | % | 92,864 |
| 0.28 | % | ||
40092701 |
| 40092701 |
| VILLAGE OF WEYERHAUSER |
| Wisconsin |
| 3.500 |
| 1/1/2004 |
| 4,000 |
| 0.01 | % | 4,000 |
| 0.01 | % |
|
|
|
|
|
| Wisconsin Total |
|
|
| 4,000 |
| 0.01 | % | 4,000 |
| 0.01 | % | ||
Total |
|
|
|
|
|
|
|
|
|
|
| 39,139,068 |
| 100.00 | % | 33,397,303 |
| 100.00 | % |
Item 2. Code of Ethics.
Not applicable to the registrant.
Item 3. Audit Committee Financial Expert.
Not applicable to the registrant.
Item 4. Principal Accountant Fees and Services.
Not applicable at this time.
Item 5. Audit Committee of Listed Registrants.
Not applicable to the registrant.
Item 6. Schedule of Investments.
Schedule is included as part of the report to shareholders filed under Item 1.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to the registrant.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to the registrant.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Companies and Affiliated Purchasers.
Not applicable to the registrant.
Item 10. Submission of Matters to a Vote of Security Holders.
Not applicable to the registrant.
Item 11. Controls and Procedures.
(a) Not applicable to the registrant.
(b) Not applicable to the registrant.
Item 12. Exhibits.
The following exhibits are attached to this Form N-CSR:
(a)
1) Code of Ethics or amendments: not applicable to the registrant.
2) Certification by the registrant’s Owner Trustee, as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)) is attached as Exhibit 99.CERT.
3) Written solicitation to purchase securities: not applicable to the registrant.
4) Annual Compliance Statement of the Servicer, GMAC Commercial Mortgage Corporation, is attached as Exhibit 99.2.
5) Attestation Report of Independent Accountants, Pricewaterhouse Coopers, LLP, is attached as Exhibit 99.3.
6) GMAC reports pursuant to sections 1302 and 1307 of the Servicing Agreement are attached as Exhibit 99.4.
(b) Certification by the registrant’s Owner Trustee, as required by Rule 30a-2(b) under the Act (17 CFR 270.30a-2(a)) is attached as Exhibit 99.906CERT.
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant): | PUBLIC FACILITY LOAN TRUST |
| |
|
| ||
By: | US Bank, not in its individual capacity, but solely as Owner Trustee under a Declaration of Trust dated as of July 8, 1988, amended and restated as of August 25, 1988 | ||
By: | /s/ George H. Davison, Jr. |
| |
| George H. Davison, Jr. | ||
| Officer | ||
|
| ||
Date: | FEBRUARY 22, 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: | US Bank, not in its individual capacity, but solely as Owner Trustee under a Declaration of Trust dated as of July 8, 1988, amended and restated as of August 25, 1988 | |
By (signature and title)*: | /s/ George H. Davison, Jr. |
|
| George H. Davison, Jr. | |
| Officer | |
|
| |
Date: | FEBRUARY 22, 2005 |
* Print the name and title of each signing officer under his or her signature.