NPORT-EX 2 c10997bnymello-november20211.htm Untitled Document

STATEMENT OF INVESTMENTS
BNY Mellon Municipal Bond Infrastructure Fund, Inc.

November 30, 2021 (Unaudited)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 143.2%

     

Alabama - 2.5%

     

Alabama Special Care Facilities Financing Authority, Revenue Bonds (Methodist Home for the Aging Obligated Group)

 

5.75

 

6/1/2045

 

2,500,000

 

2,618,701

 

Alabama Special Care Facilities Financing Authority, Revenue Bonds (Methodist Home for the Aging Obligated Group)

 

6.00

 

6/1/2050

 

1,350,000

 

1,423,195

 

Jefferson County, Revenue Bonds, Refunding, Ser. F

 

7.90

 

10/1/2050

 

2,500,000

a 

2,584,087

 
 

6,625,983

 

Arizona - 7.1%

     

Arizona Industrial Development Authority, Revenue Bonds (Legacy Cares Project) Ser. A

 

7.75

 

7/1/2050

 

3,200,000

b 

3,841,234

 

Maricopa County Industrial Development Authority, Revenue Bonds (Benjamin Franklin Charter School Obligated Group)

 

6.00

 

7/1/2052

 

2,000,000

b 

2,382,145

 

Maricopa County Industrial Development Authority, Revenue Bonds, Refunding (Legacy Traditional Schools Project)

 

5.00

 

7/1/2049

 

1,025,000

b 

1,186,372

 

Salt Verde Financial Corp., Revenue Bonds

 

5.00

 

12/1/2037

 

5,000,000

 

7,017,586

 

The Phoenix Industrial Development Authority, Revenue Bonds, Refunding (BASIS Schools Projects) Ser. A

 

5.00

 

7/1/2046

 

2,000,000

b 

2,204,837

 

The Pima County Industrial Development Authority, Revenue Bonds (American Leadership Academy Project)

 

5.00

 

6/15/2047

 

2,390,000

b 

2,450,157

 
 

19,082,331

 

California - 11.7%

     

California Housing Finance Agency, Revenue Bonds, Ser. 2021-1

 

3.50

 

11/20/2035

 

1,485,716

 

1,697,078

 

California Statewide Communities Development Authority, Revenue Bonds (California Baptist University) Ser. A

 

6.38

 

11/1/2043

 

2,035,000

 

2,224,690

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 143.2% (continued)

     

California - 11.7% (continued)

     

California Statewide Communities Development Authority, Revenue Bonds, Refunding (California Baptist University) Ser. A

 

5.00

 

11/1/2041

 

1,875,000

b 

2,200,946

 

Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding, Ser. A1

 

5.00

 

6/1/2047

 

2,500,000

 

2,554,229

 

Jefferson Union High School District, COP (Teacher & Staff Housing Project) (Insured; Build America Mutual)

 

4.00

 

8/1/2055

 

1,000,000

 

1,152,081

 

Long Beach Bond Finance Authority, Revenue Bonds, Ser. A

 

5.50

 

11/15/2037

 

5,000,000

 

7,429,840

 

Riverside County Transportation Commission, Revenue Bonds, Ser. A

 

5.75

 

6/1/2023

 

3,250,000

c 

3,512,087

 

Tender Option Bond Trust Receipts (Series 2020-XF2876), (San Francisco California City & County Airport Commission, Revenue Bonds, Refunding, Ser. E) Recourse, Underlying Coupon Rate (%) 5.00

 

17.75

 

5/1/2050

 

4,410,000

b,d,e 

5,380,445

 

University of California Regents Medical Center, Revenue Bonds, Refunding, Ser. J

 

5.00

 

5/15/2043

 

5,000,000

 

5,328,212

 
 

31,479,608

 

Colorado - 8.1%

     

Colorado Health Facilities Authority, Revenue Bonds (Sisters of Charity of Leavenworth Health System Obligated Group) Ser. A

 

5.00

 

1/1/2044

 

2,500,000

 

2,720,480

 

Colorado Health Facilities Authority, Revenue Bonds, Refunding (Covenant Living Communities & Services Obligated Group) Ser. A

 

4.00

 

12/1/2050

 

3,000,000

 

3,422,913

 

Denver City & County Airport System, Revenue Bonds, Ser. A

 

5.25

 

11/15/2043

 

5,000,000

 

5,435,316

 

Dominion Water & Sanitation District, Revenue Bonds

 

6.00

 

12/1/2046

 

1,850,000

 

1,893,114

 

Hess Ranch Metropolitan District No. 6, GO, Ser. A1

 

5.00

 

12/1/2049

 

1,500,000

 

1,631,199

 

Rampart Range Metropolitan District No. 5, Revenue Bonds

 

4.00

 

12/1/2051

 

1,000,000

 

1,024,602

 

Regional Transportation District, Revenue Bonds, Refunding (Denver Transit Partners) Ser. A

 

4.00

 

7/15/2036

 

600,000

 

713,200

 


          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 143.2% (continued)

     

Colorado - 8.1% (continued)

     

Sterling Ranch Community Authority Board, Revenue Bonds (Insured; Municipal Government Guaranteed) Ser. A

 

5.00

 

12/1/2038

 

1,500,000

 

1,576,235

 

Tender Option Bond Trust Receipts (Series 2020-XM0829), (Colorado Health Facilities Authority, Revenue Bonds, Refunding (CommonSpirit Health Obligated Group, Ser. A1)) Recourse, Underlying Coupon Rate (%) 4.00

 

17.12

 

8/1/2044

 

2,455,000

b,d,e 

3,357,639

 
 

21,774,698

 

District of Columbia - .7%

     

District of Columbia, Revenue Bonds, Refunding (KIPP DC)

 

6.00

 

7/1/2023

 

1,700,000

c 

1,852,575

 

Florida - 5.7%

     

Alachua County Health Facilities Authority, Revenue Bonds (Shands Teaching Hospital & Clinics Obligated Group)

 

4.00

 

12/1/2049

 

1,750,000

 

2,000,970

 

Davie, Revenue Bonds (Nova Southeastern University Project) Ser. A

 

5.63

 

4/1/2023

 

4,055,000

c 

4,343,820

 

Florida Higher Educational Facilities Financial Authority, Revenue Bonds (Ringling College Project)

 

5.00

 

3/1/2049

 

2,000,000

 

2,376,603

 

Pinellas County Industrial Development Authority, Revenue Bonds (Foundation for Global Understanding)

 

5.00

 

7/1/2039

 

1,000,000

 

1,165,638

 

Seminole County Industrial Development Authority, Revenue Bonds, Refunding (Legacy Pointe at UCF Project)

 

5.75

 

11/15/2054

 

500,000

 

559,469

 

Tender Option Bond Trust Receipts (Series 2019-XF0813), (Fort Myers Florida Utility, Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 4.00

 

14.31

 

10/1/2049

 

1,790,000

b,d,e 

2,050,319

 

Tender Option Bond Trust Receipts (Series 2020-XF2877), (Greater Orlando Aviation Authority, Revenue Bonds, Ser. A) Recourse, Underlying Coupon Rate (%) 4.00

 

14.20

 

10/1/2049

 

2,480,000

b,d,e 

2,829,099

 
 

15,325,918

 

Georgia - 3.8%

     

Fulton County Development Authority, Revenue Bonds, Ser. A

 

5.00

 

4/1/2042

 

1,250,000

 

1,494,453

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 143.2% (continued)

     

Georgia - 3.8% (continued)

     

Gainesville & Hall County Development Authority, Revenue Bonds, Refunding (Riverside Military Academy)

 

5.00

 

3/1/2037

 

650,000

 

659,834

 

Georgia Municipal Electric Authority, Revenue Bonds, Refunding (Plant Vogtle Units 3&4 Project) Ser. A

 

4.00

 

1/1/2051

 

1,000,000

 

1,140,285

 

Tender Option Bond Trust Receipts (Series 2019-XF2847), (Municipal Electric Authority of Georgia, Revenue Bonds (Plant Vogtle Unis 3&4 Project, Ser. A)) Recourse, Underlying Coupon Rate (%) 5.00

 

17.88

 

1/1/2056

 

2,060,000

b,d,e 

2,483,214

 

Tender Option Bond Trust Receipts (Series 2020-XM0825), (Brookhaven Development Authority, Revenue Bonds (Children's Healthcare of Atlanta, Ser. A)) Recourse, Underlying Coupon Rate (%) 4.00

 

15.56

 

7/1/2044

 

3,600,000

b,d,e 

4,484,154

 
 

10,261,940

 

Illinois - 14.1%

     

Chicago Board of Education, GO, Refunding, Ser. A

 

5.00

 

12/1/2035

 

1,500,000

 

1,822,283

 

Chicago II, GO, Refunding, Ser. A

 

6.00

 

1/1/2038

 

2,500,000

 

3,100,826

 

Chicago II, GO, Ser. A

 

5.00

 

1/1/2044

 

2,000,000

 

2,429,067

 

Chicago O'Hare International Airport, Revenue Bonds

 

5.75

 

1/1/2043

 

3,750,000

 

3,941,161

 

Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. A

 

5.00

 

1/1/2048

 

2,500,000

 

3,001,419

 

Chicago Transit Authority, Revenue Bonds, Refunding, Ser. A

 

5.00

 

12/1/2045

 

1,000,000

 

1,239,971

 

Illinois, GO, Ser. D

 

5.00

 

11/1/2028

 

2,600,000

 

3,143,365

 

Illinois, GO, Ser. D

 

5.00

 

11/1/2027

 

3,500,000

 

4,235,477

 

Illinois Toll Highway Authority, Revenue Bonds, Ser. A

 

4.00

 

1/1/2044

 

1,000,000

 

1,163,293

 

Metropolitan Pier & Exposition Authority, Revenue Bonds (McCormick Place Project) (Insured; National Public Finance Guarantee Corp.) Ser. A

 

0.00

 

12/15/2036

 

1,400,000

f 

986,430

 

Metropolitan Pier & Exposition Authority, Revenue Bonds, Refunding (McCormick Place Expansion Project)

 

5.00

 

6/15/2050

 

1,750,000

 

2,106,486

 


          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 143.2% (continued)

     

Illinois - 14.1% (continued)

     

Tender Option Bond Trust Receipts (Series 2017-XM0492), (Illinois Finance Authority, Revenue Bonds, Refunding (The University of Chicago)) Non-recourse, Underlying Coupon Rate (%) 5.00

 

18.07

 

10/1/2040

 

7,000,000

b,d,e 

8,023,714

 

University of Illinois, Revenue Bonds (Auxiliary Facilities System) Ser. A

 

5.00

 

4/1/2044

 

2,500,000

 

2,733,876

 
 

37,927,368

 

Indiana - 5.9%

     

Indiana Finance Authority, Revenue Bonds (BHI Senior Living Obligated Group) Ser. A

 

6.00

 

11/15/2023

 

3,500,000

c 

3,884,779

 

Indiana Finance Authority, Revenue Bonds (Green Bond)

 

7.00

 

3/1/2039

 

2,025,000

b 

1,921,975

 

Indiana Finance Authority, Revenue Bonds (Ohio River Bridges East End Crossing Project) Ser. A

 

5.00

 

7/1/2023

 

5,000,000

c 

5,355,123

 

Indiana Finance Authority, Revenue Bonds (Ohio Valley Electric Project) Ser. A

 

5.00

 

6/1/2032

 

2,750,000

 

2,797,777

 

Indiana Finance Authority, Revenue Bonds (Parkview Health System Obligated Group) Ser. A

 

5.00

 

11/1/2043

 

1,500,000

 

1,852,814

 
 

15,812,468

 

Iowa - 3.3%

     

Iowa Finance Authority, Revenue Bonds, Refunding (Iowa Fertilizer Co. Project)

 

5.25

 

12/1/2025

 

7,000,000

 

7,543,380

 

Iowa Tobacco Settlement Authority, Revenue Bonds, Refunding, Ser. B1

 

4.00

 

6/1/2049

 

1,000,000

 

1,155,340

 
 

8,698,720

 

Kansas - .1%

     

Kansas Development Finance Authority, Revenue Bonds, Ser. B

 

4.00

 

11/15/2025

 

150,000

 

151,693

 

Kentucky - .4%

     

Christian County, Revenue Bonds, Refunding (Jennie Stuart Medical Center Obligated Group)

 

5.50

 

2/1/2044

 

1,000,000

 

1,141,060

 

Louisiana - .8%

     

Louisiana Public Facilities Authority, Revenue Bonds (Impala Warehousing Project)

 

6.50

 

7/1/2036

 

1,000,000

b 

1,057,904

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 143.2% (continued)

     

Louisiana - .8% (continued)

     

Louisiana Public Facilities Authority, Revenue Bonds, Refunding (Tulane University)

 

4.00

 

4/1/2050

 

1,000,000

 

1,150,266

 
 

2,208,170

 

Massachusetts - 2.2%

     

Massachusetts Development Finance Agency, Revenue Bonds, Refunding (NewBridge Charles Obligated Group)

 

5.00

 

10/1/2057

 

1,000,000

b 

1,079,382

 

Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Suffolk University Project)

 

5.00

 

7/1/2034

 

1,550,000

 

1,904,572

 

Massachusetts Development Finance Agency, Revenue Bonds, Refunding, Ser. A

 

5.00

 

7/1/2029

 

900,000

 

1,126,476

 

Massachusetts Port Authority, Revenue Bonds, Refunding (Bosfuel Project) Ser. A

 

4.00

 

7/1/2044

 

1,500,000

 

1,713,965

 
 

5,824,395

 

Michigan - 6.1%

     

Detroit, GO, Ser. A

 

5.00

 

4/1/2046

 

750,000

 

919,397

 

Michigan Building Authority, Revenue Bonds, Refunding

 

4.00

 

4/15/2054

 

2,500,000

 

2,911,217

 

Michigan Finance Authority, Revenue Bonds, Refunding (Insured; National Public Finance Guarantee Corp.) Ser. D6

 

5.00

 

7/1/2036

 

2,250,000

 

2,493,119

 

Michigan Finance Authority, Revenue Bonds, Refunding (Trinity Health Obligated Group)

 

5.00

 

12/1/2021

 

10,000

c 

10,000

 

Michigan Housing Development Authority, Revenue Bonds, Ser. A

 

3.35

 

12/1/2034

 

2,500,000

 

2,692,835

 

Michigan Tobacco Settlement Finance Authority, Revenue Bonds, Refunding, Ser. C

 

0.00

 

6/1/2058

 

41,200,000

f 

2,135,367

 

Tender Option Bond Trust Receipts (Series 2019-XF2837), (Michigan State Finance Authority, Revenue Bonds (Henry Ford Health System)) Recourse, Underlying Coupon Rate (%) 4.00

 

14.21

 

11/15/2050

 

3,320,000

b,d,e 

3,760,980

 

Wayne County Airport Authority, Revenue Bonds (Detroit Metropolitan Wayne County Airport) (Insured; Build America Mutual) Ser. B

 

5.00

 

12/1/2039

 

1,250,000

 

1,409,218

 
 

16,332,133

 


          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 143.2% (continued)

     

Minnesota - .9%

     

Duluth Economic Development Authority, Revenue Bonds, Refunding (Essentia Health Obligated Group) Ser. A

 

5.00

 

2/15/2058

 

2,000,000

 

2,367,149

 

Missouri - 2.5%

     

Kansas City Industrial Development Authority, Revenue Bonds (Kansas City International Airport Terminal) Ser. A

 

5.00

 

3/1/2044

 

1,000,000

 

1,219,120

 

St. Louis County Industrial Development Authority, Revenue Bonds (Friendship Village St. Louis Obligated Group) Ser. A

 

5.13

 

9/1/2049

 

1,000,000

 

1,119,096

 

St. Louis County Industrial Development Authority, Revenue Bonds, Refunding (Friendship Village Sunset Hills)

 

5.00

 

9/1/2042

 

1,000,000

 

1,019,854

 

The Missouri Health & Educational Facilities Authority, Revenue Bonds (Mercy Health)

 

4.00

 

6/1/2050

 

1,000,000

 

1,158,117

 

The Missouri Health & Educational Facilities Authority, Revenue Bonds, Refunding (St. Louis College of Pharmacy Project)

 

5.50

 

5/1/2043

 

2,000,000

 

2,116,509

 
 

6,632,696

 

Multi-State - .6%

     

Federal Home Loan Mortgage Corp. Multifamily Variable Rate Certificates, Revenue Bonds, Ser. M048

 

3.15

 

1/15/2036

 

1,435,000

b 

1,604,414

 

Nevada - .4%

     

Reno, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.)

 

4.00

 

6/1/2058

 

1,000,000

 

1,105,688

 

New Hampshire - 1.2%

     

New Hampshire Business Finance Authority, Revenue Bonds, Refunding (Springpoint Senior Living Obligated Group)

 

4.00

 

1/1/2051

 

3,000,000

 

3,240,134

 

New Jersey - 5.6%

     

New Jersey Economic Development Authority, Revenue Bonds (Continental Airlines Project)

 

5.13

 

9/15/2023

 

1,330,000

 

1,381,394

 

New Jersey Economic Development Authority, Revenue Bonds (The Goethals Bridge Replacement Project)

 

5.38

 

1/1/2043

 

2,500,000

 

2,751,363

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 143.2% (continued)

     

New Jersey - 5.6% (continued)

     

New Jersey Economic Development Authority, Revenue Bonds, Refunding, Ser. XX

 

5.25

 

6/15/2027

 

2,500,000

 

2,892,885

 

New Jersey Economic Development Authority, Revenue Bonds, Ser. WW

 

5.25

 

6/15/2040

 

1,890,000

 

2,164,234

 

New Jersey Economic Development Authority, Revenue Bonds, Ser. WW

 

5.25

 

6/15/2025

 

110,000

c 

128,582

 

New Jersey Housing & Mortgage Finance Agency, Revenue Bonds, Refunding, Ser. D

 

4.00

 

4/1/2024

 

1,320,000

 

1,414,396

 

New Jersey Transportation Trust Fund Authority, Revenue Bonds

 

5.00

 

6/15/2046

 

1,000,000

 

1,203,914

 

New Jersey Turnpike Authority, Revenue Bonds, Ser. A

 

4.00

 

1/1/2051

 

1,800,000

 

2,118,319

 

Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. A

 

5.25

 

6/1/2046

 

750,000

 

898,325

 
 

14,953,412

 

New York - 13.1%

     

New York City, GO, Ser. D1

 

4.00

 

3/1/2050

 

2,750,000

 

3,186,580

 

New York Liberty Development Corp., Revenue Bonds, Refunding (Class 1-3 World Trade Center Project)

 

5.00

 

11/15/2044

 

3,500,000

b 

3,824,870

 

New York State Dormitory Authority, Revenue Bonds (St. John's University) Ser. A

 

5.00

 

7/1/2044

 

2,000,000

 

2,113,262

 

Niagara Area Development Corp., Revenue Bonds, Refunding (Covanta Holding Project) Ser. A

 

4.75

 

11/1/2042

 

2,000,000

b 

2,080,985

 

Port Authority of New York & New Jersey, Revenue Bonds, Refunding, Ser. 223

 

4.00

 

7/15/2051

 

1,750,000

 

2,031,110

 

Tender Option Bond Trust Receipts (Series 2017-XF2419), (Metropolitan Transportation Authority, Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 5.00

 

17.58

 

11/15/2038

 

15,000,000

b,d,e 

15,828,390

 

Tender Option Bond Trust Receipts (Series 2020-XM0826), (Metropolitan Transportation Authority, Revenue Bonds, Refunding (Green Bond) (Insured; Assured Guaranty Municipal Corp., Ser. C)) Non-recourse, Underlying Coupon Rate (%) 4.00

 

14.16

 

11/15/2046

 

3,670,000

b,d,e 

4,247,532

 


          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 143.2% (continued)

     

New York - 13.1% (continued)

     

TSASC, Revenue Bonds, Refunding, Ser. B

 

5.00

 

6/1/2045

 

585,000

 

652,519

 

Westchester County Local Development Corp., Revenue Bonds, Refunding (Purchase Senior Learning Community Obligated Group)

 

5.00

 

7/1/2046

 

1,000,000

b 

1,076,309

 
 

35,041,557

 

North Carolina - 1.2%

     

North Carolina Medical Care Commission, Revenue Bonds, Refunding (Lutheran Services for the Aging Obligated Group)

 

4.00

 

3/1/2051

 

2,000,000

 

2,170,114

 

North Carolina Turnpike Authority, Revenue Bonds (Insured; Assured Guaranty Municipal Corp.)

 

4.00

 

1/1/2055

 

1,000,000

 

1,155,557

 
 

3,325,671

 

Ohio - 7.2%

     

Buckeye Tobacco Settlement Financing Authority, Revenue Bonds, Refunding, Ser. B2

 

5.00

 

6/1/2055

 

7,900,000

 

9,070,909

 

Cuyahoga County, Revenue Bonds, Refunding (The MetroHealth System)

 

5.25

 

2/15/2047

 

2,500,000

 

2,968,638

 

Muskingum County, Revenue Bonds (Genesis HealthCare System Project)

 

5.00

 

2/15/2044

 

7,000,000

 

7,268,974

 
 

19,308,521

 

Oklahoma - .6%

     

Tulsa County Industrial Authority, Revenue Bonds, Refunding (Montereau Project)

 

5.25

 

11/15/2045

 

1,500,000

 

1,691,231

 

Pennsylvania - 11.1%

     

Allentown Neighborhood Improvement Zone Development Authority, Revenue Bonds (City Center Project)

 

5.00

 

5/1/2042

 

1,000,000

b 

1,143,802

 

Allentown School District, GO, Refunding (Insured; Build America Mutual) Ser. B

 

5.00

 

2/1/2032

 

1,455,000

 

1,853,653

 

Clairton Municipal Authority, Revenue Bonds, Refunding, Ser. B

 

5.00

 

12/1/2042

 

1,500,000

 

1,551,297

 

Clairton Municipal Authority, Revenue Bonds, Refunding, Ser. B

 

5.00

 

12/1/2037

 

4,000,000

 

4,143,218

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 143.2% (continued)

     

Pennsylvania - 11.1% (continued)

     

Montgomery County Industrial Development Authority, Revenue Bonds (ACTS Retirement-Life Communities Obligated Group) Ser. C

 

5.00

 

11/15/2045

 

1,000,000

 

1,206,193

 

Pennsylvania Economic Development Financing Authority, Revenue Bonds, Refunding (UPMC Obligated Group) Ser. A

 

5.00

 

10/15/2036

 

1,250,000

 

1,652,324

 

Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Refunding (Thomas Jefferson University Obligated Group) Ser. A

 

5.00

 

9/1/2045

 

3,000,000

 

3,377,406

 

Pennsylvania Turnpike Commission, Revenue Bonds, Ser. A

 

4.00

 

12/1/2050

 

1,000,000

 

1,155,032

 

Tender Option Bond Trust Receipts (Series 2017-XF1060), (Pennsylvania State Turnpike Commission, Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.00

 

14.05

 

12/1/2042

 

13,000,000

b,d,e 

13,617,692

 
 

29,700,617

 

Rhode Island - 1.9%

     

Providence Public Building Authority, Revenue Bonds (Insured; Assured Guaranty Municipal Corp.) Ser. A

 

5.00

 

9/15/2037

 

4,000,000

 

4,961,176

 

South Carolina - 2.7%

     

South Carolina Jobs-Economic Development Authority, Revenue Bonds, Refunding (Lutheran Homes of South Carolina Obligated Group)

 

5.13

 

5/1/2048

 

1,750,000

 

1,772,171

 

South Carolina Public Service Authority, Revenue Bonds, Refunding (Santee Cooper Project) Ser. B

 

5.13

 

12/1/2043

 

5,000,000

 

5,454,110

 
 

7,226,281

 

Texas - 9.1%

     

Clifton Higher Education Finance Corp., Revenue Bonds (IDEA Public Schools)

 

6.00

 

8/15/2043

 

1,500,000

 

1,618,935

 

Clifton Higher Education Finance Corp., Revenue Bonds (International Leadership) Ser. A

 

5.75

 

8/15/2045

 

2,500,000

 

2,845,379

 

Clifton Higher Education Finance Corp., Revenue Bonds (International Leadership) Ser. D

 

6.13

 

8/15/2048

 

3,500,000

 

4,026,200

 


          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 143.2% (continued)

     

Texas - 9.1% (continued)

     

Grand Parkway Transportation Corp., Revenue Bonds, Refunding

 

4.00

 

10/1/2049

 

2,000,000

 

2,319,337

 

Mission Economic Development Corp., Revenue Bonds, Refunding (Natgasoline Project)

 

4.63

 

10/1/2031

 

1,500,000

b 

1,577,838

 

Tender Option Bond Trust Receipts (Series 2016-XM0374), (Tarrant County Cultural Education Facilities Finance Corporation, Revenue Bonds (Baylor Health Care System Project)) Non-recourse, Underlying Coupon Rate (%) 5.00

 

18.05

 

11/15/2038

 

7,410,000

b,d,e 

7,904,627

 

Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds (Segment 3C Project)

 

5.00

 

6/30/2058

 

3,500,000

 

4,207,586

 
 

24,499,902

 

U.S. Related - 2.1%

     

Puerto Rico, GO, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. A

 

5.00

 

7/1/2035

 

1,750,000

 

1,763,511

 

Puerto Rico, GO, Refunding, Ser. A

 

8.00

 

7/1/2035

 

4,435,000

g 

3,891,712

 
 

5,655,223

 

Utah - .6%

     

Utah Charter School Finance Authority, Revenue Bonds, Refunding (Summit Academy) Ser. A

 

5.00

 

4/15/2039

 

1,400,000

 

1,697,760

 

Virginia - 5.2%

     

Norfolk Redevelopment & Housing Authority, Revenue Bonds (Fort Norfolk Retirement Community Obligated Group) Ser. A

 

5.00

 

1/1/2049

 

1,000,000

 

1,082,750

 

Virginia Small Business Financing Authority, Revenue Bonds (95 Express Lanes Project)

 

5.00

 

1/1/2040

 

7,640,000

 

7,668,547

 

Virginia Small Business Financing Authority, Revenue Bonds (Elizabeth River Crossing Opco Project)

 

5.50

 

1/1/2042

 

5,000,000

 

5,142,343

 
 

13,893,640

 

Washington - 2.4%

     

Port of Seattle, Revenue Bonds

 

4.00

 

4/1/2044

 

1,000,000

 

1,133,148

 

Washington Health Care Facilities Authority, Revenue Bonds, Refunding, Ser. A

 

5.00

 

10/1/2042

 

5,000,000

 

5,194,073

 
 

6,327,221

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 143.2% (continued)

     

Wisconsin - 2.3%

     

Public Finance Authority, Revenue Bonds, Refunding, Ser. B

 

5.00

 

7/1/2042

 

5,000,000

 

5,104,796

 

Wisconsin Health & Educational Facilities Authority, Revenue Bonds (Children's Hospital of Wisconsin Obligated Group)

 

4.00

 

8/15/2050

 

1,000,000

 

1,169,444

 
 

6,274,240

 

Total Investments (cost $349,365,315)

 

143.2%

384,005,593

 

Liabilities, Less Cash and Receivables

 

(15.2%)

(40,777,450)

 

RVMTPS, at liquidation value

 

(28.0%)

(75,000,000)

 

Net Assets Applicable to Common Shareholders

 

100.0%

268,228,143

 

GO—General Obligation

RVMTPS—Remarketable Variable Rate MuniFund Term Preferred Shares

a Zero coupon until a specified date at which time the stated coupon rate becomes effective until maturity.

b Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At November 30, 2021, these securities were valued at $103,600,975 or 38.62% of net assets.

c 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.

d The Variable Rate shall be determined by the Remarketing Agent in its sole discretion based on prevailing market conditions and may, but need not, be established by reference to one or more financial indices.

e Collateral for floating rate borrowings. The coupon rate given represents the current interest rate for the inverse floating rate security.

f Security issued with a zero coupon. Income is recognized through the accretion of discount.

g Non-income producing—security in default.


STATEMENT OF INVESTMENTS
BNY Mellon Municipal Bond Infrastructure Fund, Inc.

November 30, 2021 (Unaudited)

The following is a summary of the inputs used as of November 30, 2021 in valuing the fund’s investments:

       
 

Level 1-Unadjusted Quoted Prices

Level 2- Other Significant Observable Inputs

 

Level 3-Significant Unobservable Inputs

Total

 

Assets ($)

  

Investments In Securities:

  

Municipal Securities

-

384,005,593

 

-

384,005,593

 

Liabilities ($)

  

Other Financial Instruments:

  

Floating Rate Notes††

-

(48,640,000)

 

-

(48,640,000)

 

RVMTPS††

-

(75,000,000)

 

-

(75,000,000)

 

 See Statement of Investments for additional detailed categorizations, if any.

†† Certain of the fund’s liabilities are held at carrying amount, which approximates fair value for financial reporting purposes.


The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission ("SEC") under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. The fund’s financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.

Various inputs are used in determining the value of the fund’s investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:

Level 1—unadjusted quoted prices in active markets for identical investments.

Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

Level 3—significant unobservable inputs (including the 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.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund’s investments are as follows:

Investments in securities are valued each business day by an independent pricing service (the “Service”) approved by the fund's Board Members (the “Board”). 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). Debt 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 the following: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. All of the preceding securities are generally categorized within Level 2 of the fair value hierarchy.

The Service is engaged under the general oversight of the Board.

When market quotations or official closing prices are not readily available, or are determined not to accurately reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

For securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.

Inverse Floater Securities: The fund participates in secondary inverse floater structures in which fixed-rate, tax-exempt municipal bonds are transferred to a trust (the “Inverse Floater Trust”). The Inverse Floater Trust typically issues two variable rate securities that are collateralized by the cash flows of the fixed-rate, tax-exempt municipal bonds. One of these variable rate securities pays interest based on a short-term floating rate set by a remarketing agent at predetermined intervals (“Trust Certificates”). A residual interest tax-exempt security is also created by the Inverse Floater Trust, which is transferred to the fund, and is paid interest based on the remaining cash flows of the Inverse Floater Trust, after payment of interest on the other securities and various expenses of the Inverse Floater Trust. An Inverse Floater Trust may be collapsed without the consent of the fund due to certain termination events such as bankruptcy, default or other credit event.

The fund accounts for the transfer of bonds to the Inverse Floater Trust as secured borrowings, with the securities transferred remaining in the fund’s investments, and the Trust Certificates reflected as fund liabilities in the Statement of Assets and Liabilities.

The fund may invest in inverse floater securities on either a non-recourse or recourse basis. These securities are typically supported by a liquidity facility provided by a bank or other financial institution (the “Liquidity Provider”) that allows the holders of the Trust Certificates to tender their certificates in exchange for payment from the Liquidity


Provider of par plus accrued interest on any business day prior to a termination event. When the fund invests in inverse floater securities on a non-recourse basis, the Liquidity Provider is required to make a payment under the liquidity facility due to a termination event to the holders of the Trust Certificates. When this occurs, the Liquidity Provider typically liquidates all or a portion of the municipal securities held in the Inverse Floater Trust. A liquidation shortfall occurs if the Trust Certificates exceed the proceeds of the sale of the bonds in the Inverse Floater Trust (“Liquidation Shortfall”). When a fund invests in inverse floater securities on a recourse basis, the fund typically enters into a reimbursement agreement with the Liquidity Provider where the fund is required to repay the Liquidity Provider the amount of any Liquidation Shortfall. As a result, a fund investing in a recourse inverse floater security bears the risk of loss with respect to any Liquidation Shortfall.

At November 30, 2021, accumulated net unrealized appreciation on investments was $34,640,278, consisting of $34,783,752 gross unrealized appreciation and $143,474 gross unrealized depreciation.

At November 30, 2021, the cost of investments  for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Statement of Investments).

Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the SEC on Form N-CSR.