Schedule of investments
Delaware Investments® Colorado Municipal Income Fund, Inc.
June 30, 2020 (Unaudited)
| | | | | | | | | | |
| | Principal | | Value | | | | | Principal | | Value |
| | Amount° | | (US $) | | | | | Amount° | | (US $) |
| Municipal Bonds - 137.16% | | | | Municipal Bonds (continued) | | | | |
| Corporate Revenue Bonds - 6.54% | | | | Education Revenue Bonds (continued) | | | | |
| Denver City & County | | | | Colorado Educational & | | | | |
| (United Airlines Project) | | | | Cultural Facilities Authority | | | | |
| 5.00% 10/1/32 (AMT) | 215,000 | $ | 216,339 | Revenue | | | | | | |
| Public Authority for Colorado | | | | (Loveland Classical | | | | |
| Energy Natural Gas | | | | Schools) 144A | | | | | | |
| Revenue | | | | 5.00% 7/1/36 # | | | | 625,000 | $ | 630,800 |
| Series 2008 | | | | (Science Technology | | | | |
| 6.50% 11/15/38 | 2,250,000 | | 3,386,587 | Engineering and Math | | | | |
| Public Authority for Colorado | | | | (Stem) School Project) | | | | |
| Energy Revenue | | | | 5.00% 11/1/54 | | | | 700,000 | | 740,222 |
| 6.25% 11/15/28 | 865,000 | | 1,083,966 | (Skyview Charter School) | | | | |
| | | | | 144A 5.50% 7/1/49 # | | 750,000 | | 761,535 |
| | | | 4,686,892 | (Vail Mountain School | | | | |
| | | | | Project) 4.00% 5/1/46 | | 25,000 | | 24,177 |
| Education Revenue Bonds - 17.80% | | | | (Windsor Charter Academy | | | | |
| Board of Trustees For | | | | Project) 144A | | | | | | |
| Colorado Mesa University | | | | 5.00% 9/1/46 # | | | | 500,000 | | 489,955 |
| Enterprise Revenue | | | | Colorado School of Mines | | | | |
| Series B 5.00% 5/15/49 | 750,000 | | 927,683 | Series B 5.00% 12/1/42 | | 270,000 | | 291,916 |
| Colorado Educational & | | | | | | | | | | |
| Cultural Facilities Authority | | | | | | | | | | |
| Revenue | | | | | | | | | | 12,751,110 |
| 144A 5.00% 7/1/36 # | 500,000 | | 505,060 | Electric Revenue Bonds - 3.86% | | | | |
| 5.125% 11/1/49 | 765,000 | | 816,071 | City of Fort Collins Electric | | | | |
| 144A 5.25% 7/1/46 # | 500,000 | | 504,805 | Utility Enterprise Revenue | | | | |
| (Alexander Dawson | | | | Series A 5.00% 12/1/42 | | 500,000 | | 621,575 |
| School-Nevada Project) | | | | City of Loveland Colorado | | | | |
| 5.00% 5/15/29 | 760,000 | | 911,027 | Electric & Communications | | | | |
| (Charter School - Atlas | | | | Enterprise Revenue | | | | |
| Preparatory School) 144A | | | | Series A 5.00% 12/1/44 | | 1,060,000 | | 1,313,033 |
| 5.25% 4/1/45 # | 700,000 | | 698,978 | Puerto Rico Electric Power | | | | |
| (Charter School - | | | | Authority Revenue | | | | |
| Community Leadership | | | | Series A 5.05% 7/1/42 ‡ | | 75,000 | | 52,313 |
| Academy) 7.45% 8/1/48 | 500,000 | | 549,505 | Series AAA 5.25% | | | | |
| (Charter School - Peak to | | | | 7/1/25 ‡ | | | | 40,000 | | 28,000 |
| Peak Charter) | | | | Series CCC 5.25% | | | | |
| 5.00% 8/15/34 | 1,000,000 | | 1,118,420 | 7/1/27 ‡ | | | | 335,000 | | 234,500 |
| (Improvement - Charter | | | | Series WW 5.00% | | | | |
| School - University Lab | | | | 7/1/28 ‡ | | | | 325,000 | | 226,688 |
| School Building) | | | | Series XX 4.75% 7/1/26 ‡ | | 45,000 | | 31,163 |
| 5.00% 12/15/45 | 500,000 | | 537,830 | Series XX 5.25% 7/1/40 ‡ | | 125,000 | | 87,500 |
| (Johnson & Wales | | | | Series XX 5.75% 7/1/36 ‡ | | 155,000 | | 109,275 |
| University) Series A | | | | Series ZZ 4.75% 7/1/27 ‡ | | 35,000 | | 24,238 |
| 5.25% 4/1/37 | 900,000 | | 961,542 | Series ZZ 5.25% 7/1/24 ‡ | | 55,000 | | 38,500 |
| (Liberty Charter School) | | | | | | | | | | |
| Series A 5.00% 1/15/44 | 1,000,000 | | 1,080,300 | | | | | | | 2,766,785 |
| (Littleton Charter School | | | | | | | | | | |
| Project) | | | | | | | | | | |
| 4.375% 1/15/36 (AGC) | 1,200,000 | | 1,201,284 | | | | | | | |
(continues) NQ-OV2 [6/20] 8/20 (1294488) 1
Schedule of investments
Delaware Investments® Colorado Municipal Income Fund, Inc. (Unaudited)
| | | | | | | | | |
| | | | Principal | | Value | | Principal | | Value |
| | | | Amount° | | (US $) | | Amount° | | (US $) |
| Municipal Bonds (continued) | | | | Municipal Bonds (continued) | | | |
| Healthcare Revenue Bonds - 37.85% | | | | Healthcare Revenue Bonds (continued) | | |
| City of Aurora | | | | | | Colorado Health Facilities | | | |
| (Children’s Hospital | | | | Authority Revenue | | | |
| Association Project) | | | | (Sunny Vista Living Center) | | | |
| Series A 0.00% 12/1/40 | 2,000,000 | $ | 2,000,000 | Series A 144A | | | |
| Colorado Health Facilities | | | | 6.25% 12/1/50 # | 505,000 | $ | 515,398 |
| Authority Revenue | | | | | (Vail Valley Medical Center | | | |
| (AdventHealth Obligated | | | | Project) 5.00% 1/15/35 | 1,250,000 | | 1,446,625 |
| Group) Series A | | | | | | (Valley View Hospital | | | |
| 4.00% 11/15/43 | | 1,000,000 | | 1,123,520 | Association Project) | | | |
| (Adventist Health | | | | | Series A 4.00% 5/15/34 | 330,000 | | 366,584 |
| System/Sunbelt Obligated | | | | Denver Health & Hospital | | | |
| Group) Series A | | | | | | Authority Health Care | | | |
| 5.00% 11/15/48 | | 1,000,000 | | 1,178,010 | Revenue | | | |
| (Bethesda Project) | | | | | Series A 4.00% 12/1/40 | 500,000 | | 531,500 |
| Series A1 5.00% 9/15/48 | 750,000 | | 792,825 | | | | |
| (Cappella of Grand | | | | | | | 27,108,467 |
| Junction Project) 144A | | | | Lease Revenue Bonds - 4.13% | | | |
| 5.00% 12/1/54 # | | 515,000 | | 479,887 | Denver Health & Hospital | | | |
| (Christian Living | | | | | | Authority | | | |
| Community Project) | | | | | | | |
| 6.375% 1/1/41 | | | 615,000 | | 633,671 | (550 ACOMA, Inc. ) | | | |
| (CommonSpirit Health) | | | | 4.00% 12/1/38 | 500,000 | | 532,065 |
| | | | | | | Pueblo County Certificates of | | | |
| Series A-1 4.00% 8/1/39 | 550,000 | | 600,699 | Participation | | | |
| Series A-2 4.00% 8/1/49 | 1,500,000 | | 1,610,190 | (County Judicial Complex | | | |
| Series A-2 5.00% 8/1/38 | 1,500,000 | | 1,788,840 | Project) | | | |
| Series A-2 5.00% 8/1/39 | 1,500,000 | | 1,782,690 | 5.00% 9/15/42 (AGM) | 1,250,000 | | 1,355,463 |
| Series A-2 5.00% 8/1/44 | 1,500,000 | | 1,763,430 | State of Colorado Department | | | |
| (Covenant Retirement | | | | of Transportation | | | |
| Communities Inc. ) | | | | | Certificates of Participation | | | |
| 5.00% 12/1/35 | | | 1,000,000 | | 1,068,080 | 5.00% 6/15/34 | 340,000 | | 413,494 |
| Series A 5.75% 12/1/36 | 1,000,000 | | 1,081,140 | 5.00% 6/15/36 | 545,000 | | 660,714 |
| (Frasier Meadows | | | | | | | | |
| Retirement Community | | | | | | | 2,961,736 |
| Project) | | | | | | | | | |
| Series A 5.25% 5/15/37 | 265,000 | | 269,412 | Local General Obligation Bonds - 15.01% | | |
| Series B 5.00% 5/15/48 | 340,000 | | 324,737 | Adams & Weld Counties | | | |
| | | | | | | School District No 27J | | | |
| (Healthcare Facilities - | | | | Brighton | | | |
| American Baptist) | | | | | | | | |
| 8.00% 8/1/43 | | | 500,000 | | 528,630 | 4.00% 12/1/30 | 700,000 | | 802,886 |
| (Mental Health Center of | | | | Arapahoe County School | | | |
| Denver Project) Series A | | | | District No. 6 Littleton | | | |
| 5.75% 2/1/44 | | | 1,500,000 | | 1,578,015 | Series A 5.50% 12/1/38 | 650,000 | | 850,785 |
| (National Jewish Health | | | | Beacon Point Metropolitan | | | |
| Project) 5.00% 1/1/27 | 500,000 | | 523,915 | District | | | |
| (Sanford Health) Series A | | | | 5.00% 12/1/30 (AGM) | 600,000 | | 715,152 |
| 5.00% 11/1/44 | | | 1,500,000 | | 1,790,685 | Boulder Valley School District | | | |
| (SCL Health System) | | | | No RE-2 Boulder | | | |
| Series A 4.00% 1/1/37 | 575,000 | | 643,879 | Series A 4.00% 12/1/48 | 500,000 | | 582,380 |
| Series A 4.00% 1/1/38 | 1,950,000 | | 2,171,169 | | | | |
| Series A 4.00% 1/1/39 | 465,000 | | 514,936 | | | | |
2 NQ-OV2 [6/20] 8/20 (1294488)
(Unaudited)
| | | | | | | | | |
| | Principal | | Value | | | | Principal | | Value |
| | Amount° | | (US $) | | | | Amount° | | (US $) |
| Municipal Bonds (continued) | | | | Municipal Bonds (continued) | | | |
| Local General Obligation Bonds (continued) | | | Pre-Refunded/Escrowed to Maturity Bonds (continued) | | |
| Denver International Business | | | | Regional Transportation | | | |
| Center | | | | District Sales Tax Revenue | | | |
| Metropolitan District No. 1 | | | | (FasTracks Project) Series A | | | |
| 5.00% 12/1/30 | 650,000 | $ | 656,149 | 5.00% 11/1/38-20§ | 2,500,000 | $ | 2,539,800 |
| Eaton Area Park & Recreation | | | | | | | | | |
| District | | | | | | | | | 11,120,156 |
| 5.25% 12/1/34 | 190,000 | | 194,133 | Special Tax Revenue Bonds - 21.04% | | | |
| 5.50% 12/1/38 | 245,000 | | 251,493 | Central Platte Valley | | | | |
| Grand River Hospital District | | | | Metropolitan District | | | |
| 5.25% 12/1/37 (AGM) | 675,000 | | 782,899 | 5.00% 12/1/43 | | | 375,000 | | 383,917 |
| Jefferson County School | | | | Commerce City | | | | | |
| District No. R-1 | | | | 5.00% 8/1/44 (AGM) | 1,000,000 | | 1,146,350 |
| 5.25% 12/15/24 | 750,000 | | 908,857 | Fountain Urban Renewal | | | |
| Sierra Ridge Metropolitan | | | | Authority Tax Increment | | | |
| District No. 2 | | | | Revenue | | | | | |
| Series A 5.50% 12/1/46 | 500,000 | | 510,655 | (Academy Highlands | | | |
| Weld County School District | | | | Project) Series A | | | | | |
| No. RE-1 | | | | 5.50% 11/1/44 | | | 655,000 | | 660,345 |
| 5.00% 12/15/30 (AGM) | 500,000 | | 620,935 | Guam Government Business | | | |
| Weld County School District | | | | Privilege Tax Revenue | | | |
| No. RE-2 Eaton | | | | Series A 5.125% 1/1/42 | | 435,000 | | 445,436 |
| Series 2 5.00% 12/1/44 | 1,250,000 | | 1,593,138 | Series A 5.25% 1/1/36 | | 565,000 | | 581,046 |
| Weld County School District | | | | Lincoln Park Metropolitan | | | |
| No. RE-3J | | | | District | | | | | |
| 5.00% 12/15/34 (BAM) | 1,000,000 | | 1,228,580 | 5.00% 12/1/46 (AGM) | | 500,000 | | 603,045 |
| Weld County School District | | | | Prairie Center Metropolitan | | | |
| No. RE-8 | | | | District No. 3 | | | | | |
| 5.00% 12/1/31 | 510,000 | | 633,104 | Series A 144A | | | | | |
| 5.00% 12/1/32 | 340,000 | | 419,934 | 5.00% 12/15/41 # | | 500,000 | | 502,725 |
| | | | | Puerto Rico Sales Tax | | | | |
| | | | 10,751,080 | Financing Revenue | | | | |
| Pre-Refunded/Escrowed to Maturity Bonds - 15.52% | | | (Restructured) | | | | | |
| Colorado Health Facilities | | | | Series A-1 4.55% 7/1/40 | 1,000,000 | | 1,022,000 |
| Authority Revenue | | | | Series A-1 4.75% 7/1/53 | 2,290,000 | | 2,359,066 |
| (Catholic Health Initiatives) | | | | Series A-1 5.00% 7/1/58 | 1,110,000 | | 1,163,336 |
| Series A 5.00% 2/1/41-21§ | 2,400,000 | | 2,465,520 | Regional Transportation | | | |
| (Evangelical Lutheran Good | | | | District Revenue | | | | | |
| Samaritan Society) | | | | (Denver Transit Partners) | | | |
| 5.00% 6/1/28-23§ | 1,250,000 | | 1,420,313 | 6.00% 1/15/41 | | | 2,175,000 | | 2,178,719 |
| 5.50% 6/1/33-23§ | 2,000,000 | | 2,301,500 | Regional Transportation | | | |
| 5.625% 6/1/43-23§ | 1,000,000 | | 1,154,370 | District Sales Tax Revenue | | | |
| Colorado School of Mines | | | | (FasTracks Project) | | | | |
| Series B | | | | Series A 5.00% 11/1/30 | 330,000 | | 405,860 |
| 5.00% 12/1/42-22§ | 1,115,000 | | 1,238,653 | Series A 5.00% 11/1/31 | 755,000 | | 920,843 |
| | | | | Solaris Metropolitan District | | | |
| | | | | No. 3 | | | | | |
| | | | | (Limited Tax Convertible) | | | |
| | | | | Series A 5.00% 12/1/46 | 500,000 | | 507,290 |
(continues) NQ-OV2 [6/20] 8/20 (1294488) 3
Schedule of investments
Delaware Investments® Colorado Municipal Income Fund, Inc. (Unaudited)
| | | | | | | | | | |
| | | | Principal | | Value | | | Principal | | Value |
| | | | Amount° | | (US $) | | | Amount° | | (US $) |
| Municipal Bonds (continued) | | | | | Municipal Bonds (continued) | | | |
| Special Tax Revenue Bonds (continued) | | | Transportation Revenue Bonds (continued) | | |
| Southlands Metropolitan | | | | | E-470 Public Highway | | | |
| District No. 1 | | | | | | Authority | | | | |
| Series A1 5.00% 12/1/37 | | | 200,000 | $ | 210,242 | Series A 5.00% 9/1/34 | | 310,000 | $ | 408,044 |
| Series A1 5.00% 12/1/47 | | | 300,000 | | 310,311 | Series C 5.25% 9/1/25 | | 310,000 | | 312,548 |
| Sterling Ranch Community | | | | | | | | | |
| Authority Board | | | | | | | | | | 7,555,726 |
| Series A 5.75% 12/1/45 | | 525,000 | | 542,861 | Water & Sewer Revenue Bonds - 3.03% | | |
| Tallyn’s Reach Metropolitan | | | | | Arapahoe County Water & | | | |
| District No. 3 | | | | | | Wastewater Authority | | | |
| (Limited Tax Convertible) | | | | | Revenue | | | | |
| 5.125% 11/1/38 | | 295,000 | | 298,437 | Series A 4.00% 12/1/39 | 1,250,000 | | 1,501,275 |
| Thornton Development | | | | | Dominion Water & Sanitation | | | |
| Authority | | | | | | District, Colorado | | | |
| (East 144th Avenue & I-25 | | | | | 6.00% 12/1/46 | | 245,000 | | 256,052 |
| Project) | | | | | | Guam Government | | | | |
| Series B 5.00% 12/1/35 | | | 265,000 | | 311,319 | Waterworks Authority | | | |
| Series B 5.00% 12/1/36 | | | 440,000 | | 516,490 | Revenue | | | | |
| | | | | | | 5.00% 7/1/40 | | 360,000 | | 413,420 |
| | | | | | 15,069,638 | | | | | |
| State General Obligation Bonds - 1.83% | | | | | | | 2,170,747 |
| Commonwealth of Puerto | | | | | Total Municipal Bonds | | | |
| Rico | | | | | | (cost $93,521,573) | | | | 98,251,543 |
| (General Obligation Bonds) | | | | | | | | | |
| Series A 5.00% 7/1/41 ‡ | | | 305,000 | | 192,150 | Short-Term Investments - 0.84% | | | |
| Series A 5.375% 7/1/33 ‡ | | | 305,000 | | 213,119 | Variable Rate Demand Notes - 0.84%¤ | | |
| Series A 8.00% 7/1/35 ‡ | | | 535,000 | | 322,337 | Colorado Educational & | | | |
| Series B 5.75% 7/1/38 ‡ | | | 440,000 | | 303,600 | Cultural Facilities Authority | | | |
| Series C 6.00% 7/1/39 ‡ | | | 400,000 | | 278,000 | Revenue Series F-2 | | | |
| | | | | | | (National Jewish | | | | |
| | | | | | 1,309,206 | Federation Bond Program) | | | |
| Transportation Revenue Bonds - 10.55% | | | 0.12% 7/1/41 | | | | |
| | | | | | | (LOC - Northern Trust | | | |
| Colorado High Performance | | | | | Company) | | 500,000 | | 500,000 |
| Transportation Enterprise | | | | | | | | | |
| Revenue | | | | | | Denver City & County | | | |
| | | | | | | Series A1 0.12% 12/1/29 | | | |
| (Senior U.S. 36 & I-25 | | | | | (SPA - JPMorgan Chase | | | |
| Managed Lanes) | | | | | | Bank, N.A. ) | | 100,000 | | 100,000 |
| 5.75% 1/1/44 (AMT) | | 1,110,000 | | 1,179,630 | | | | | |
| C-470 Express Lanes | | | | | | | | | |
| 5.00% 12/31/56 | | 1,000,000 | | 1,065,770 | Total Short-Term | | | | |
| Denver City & County Airport | | | | | Investments | | | | |
| System Revenue | | | | | | (cost $600,000) | | | | 600,000 |
| Series A 5.00% 12/1/29 | | | 270,000 | | 340,124 | | | | | |
| Series A 5.00% 11/15/30 | | | | | | Total Value of | | | | |
| (AMT) | | | 750,000 | | 918,690 | Securities - 138.00% | | | |
| Series A 5.00% 12/1/48 | | | | | | (cost $94,121,573) | | | | 98,851,543 |
| (AMT) | | | 1,000,000 | | 1,184,040 | | | | | |
| Series B 5.00% 11/15/37 | | | 2,000,000 | | 2,146,880 | | | | | |
| E-470 Public Highway | | | | | | | | | |
| Authority | | | | | | | | | | |
4 NQ-OV2 [6/20] 8/20 (1294488)
(Unaudited)
| | | | | | |
| Liquidation Value of | | | | § | Pre-refunded bonds. Municipal bonds that are generally backed or |
| | Preferred | | | | | secured by US Treasury bonds. For pre-refunded bonds, the stated |
| | Stock - (41.88%) | | (30,000,000 | ) | | maturity is followed by the year in which the bond will be |
| Receivables and Other | | | | | pre-refunded. |
| | Assets Net of | | | | ° | Principal amount shown is stated in USD unless noted that the security |
| | Liabilities - 3.88% | | 2,779,206 | | | is denominated in another currency. |
| Net Assets Applicable to | | | | ‡ | Non-income producing security. Security is currently in default. |
| | 4,837,100 Shares | | | | | |
| | Outstanding - 100.00% | $ | 71,630,749 | | Summary of abbreviations: |
| | | | | | AGC - Insured by Assured Guaranty Corporation |
| # | Security exempt from registration under Rule 144A of the Securities | | AGM - Insured by Assured Guaranty Municipal |
| | Act of 1933, as amended. At June 30, 2020, the aggregate value | | Corporation |
| | of Rule 144A securities was $5,089,143, which represents 7.10% | | AMT - Subject to Alternative Minimum Tax |
| | of the Fund’s net assets. | | | | BAM - Build America Mutual Assurance Company |
| ¤ | Tax-exempt obligations that contain a floating or variable interest | | LOC - Letter of Credit |
| | rate adjustment formula and an unconditional right of demand to | | N.A. - National Association |
| | receive payment of the unpaid principal balance plus accrued interest | | SPA - Stand-by Purchase Agreement |
| | upon a short notice period (generally up to 30 days) prior to specified | | USD - US Dollar |
| | dates either from the issuer or by drawing on a bank letter of credit, | | | |
| | a guarantee, or insurance issued with respect to such instrument. | | | |
| | Each rate shown is as of June 30, 2020. | | | | | |
NQ-OV2 [6/20] 8/20 (1294488) 5
