0001193125-14-272434.txt : 20140813 0001193125-14-272434.hdr.sgml : 20140812 20140718103807 ACCESSION NUMBER: 0001193125-14-272434 CONFORMED SUBMISSION TYPE: CORRESP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140718 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST AMERICAN FUNDS INC CENTRAL INDEX KEY: 0000356134 IRS NUMBER: 411418224 STATE OF INCORPORATION: MN FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55440-1330 BUSINESS PHONE: 612-303-7987 MAIL ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC-MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FORMER COMPANY: FORMER CONFORMED NAME: FIRST AMERICAN MONEY FUND INC DATE OF NAME CHANGE: 19900603 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN INCOME FUND INC /VA CENTRAL INDEX KEY: 0000838131 IRS NUMBER: 411999198 FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402-3804 BUSINESS PHONE: 612-303-7987 MAIL ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FORMER COMPANY: FORMER CONFORMED NAME: RAC INCOME FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN STRATEGIC INCOME PORTFOLIO INC III CENTRAL INDEX KEY: 0000896161 IRS NUMBER: 411739732 STATE OF INCORPORATION: MN FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 612-303-7987 MAIL ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN STRATEGIC INCOME INC III DATE OF NAME CHANGE: 19930426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MINNESOTA MUNICIPAL INCOME PORTFOLIO INC CENTRAL INDEX KEY: 0000902748 IRS NUMBER: 411748694 STATE OF INCORPORATION: MN FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402-3804 BUSINESS PHONE: 612-303-7987 MAIL ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402-3804 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN MUNICIPAL INCOME PORTFOLIO INC CENTRAL INDEX KEY: 0000902750 IRS NUMBER: 411748693 STATE OF INCORPORATION: MN FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402-3804 BUSINESS PHONE: 612-303-7987 MAIL ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST AMERICAN MINNESOTA MUNICIPAL INCOME FUND II INC CENTRAL INDEX KEY: 0001183829 IRS NUMBER: 470890961 STATE OF INCORPORATION: MN FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402-3804 BUSINESS PHONE: 612-303-7987 MAIL ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402-3804 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN STRATEGIC INCOME PORTFOLIO INC CENTRAL INDEX KEY: 0000878930 IRS NUMBER: 411705401 STATE OF INCORPORATION: MN FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 612-303-7987 MAIL ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN SELECT PORTFOLIO INC CENTRAL INDEX KEY: 0000908785 IRS NUMBER: 411755339 STATE OF INCORPORATION: MN FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402-3804 BUSINESS PHONE: 612-303-7987 MAIL ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN STRATEGIC INCOME PORTFOLIO INC II CENTRAL INDEX KEY: 0000886984 IRS NUMBER: 411719822 STATE OF INCORPORATION: MN FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 612-303-7987 MAIL ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Mount Vernon Securities Lending Trust CENTRAL INDEX KEY: 0001338268 IRS NUMBER: 043825169 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 612-303-7987 MAIL ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC- MN-H04N CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FORMER COMPANY: FORMER CONFORMED NAME: USBAM Securities Lending Trust DATE OF NAME CHANGE: 20050908 CORRESP 1 filename1.htm CORRESP

U.S. Bancorp Asset Management, Inc.

800 Nicollet Mall

BC-MN-H04N

Minneapolis, MN 55402

  

Richard J. Ertel

General Counsel

 

Direct line: (612) 303-7987

Fax: (612) 303-4767

July 18, 2014

VIA EDGAR

Mr. Chad Eskildsen

Disclosure Review and Accounting

Division of Investment Management

U.S. Securities and Exchange Commission

100 F Street, N.E.

Washington, DC 20549

Re:    Response to Staff Comments Related to Form N-PX and Form N-CSR Filings of the Following First American funds:

 

First American Funds, Inc.

      811-03313   

American Income Fund, Inc.

      811-05642   

American Strategic Income Portfolio Inc.

      811-06404   

American Strategic Income Portfolio Inc. – II

      811-06640   

American Strategic Income Portfolio Inc. – III

      811-07444   

American Select Portfolio Inc.

      811-07838   

American Municipal Income Portfolio Inc.

      811-07678   

Minnesota Municipal Income Portfolio Inc.

      811-07680   

First American Minnesota Municipal Income Fund II, Inc.

      811-21193   

Mount Vernon Securities Lending Trust

      811-21824   

Dear Mr. Eskildsen:

The purpose of this letter is to respond to the comments of the Division of Investment Management (the “Staff”) that we received in our telephone conversation with you on June 17, 2014 regarding filings on Form N-PX and Form N-CSR for the First American funds listed above (each a “Registrant” and, collectively, the “Registrants”).

Following is our response to the Staff’s comments, which appear in bold-face type below.

Comments

 

1. With respect to the Registrants’ Form N-PX filings, please note that the filings must be signed by the Registrants’ principal executive officer or officers. In addition to correcting this for future filings, please amend your most recent reports on Form N-PX for the year ended June 30, 2013.

 

     Each Registrant will make the change in subsequent reports on Form N-PX. Additionally, each Registrant completed an amended filing signed by its principal executive officer on June 30, 2014.

 

2.

Item 27(d)(1) of Form N-1A requires each Registrant to include an expense example in every annual and semi-annual report to shareholders on Form N-CSR. In the required footnote to the expense example table, each Registrant currently includes, in part, the statement, “. . . multiplied by the number of days in the most recent fiscal half-year/365 (to reflect the one-half year period).” In this footnote you should specifically

  show the actual number of days in the most recent fiscal half-year divided by the actual number of days in the full fiscal year, rather than depicting the formula used to determine this factor. Please correct this in the Registrants’ subsequent filings on Form N-CSR.

Each Registrant will make the requested change in subsequent filings on Form N-CSR.

In connection with the review of the above-referenced filing by the Staff, each Registrant hereby acknowledges that:

 

  1. The Registrant is responsible for the adequacy and accuracy of the disclosure in the filing.
  2. Staff comments or changes to disclosure in response to Staff comments in the filing reviewed by the Staff do not foreclose the Commission from taking any action with respect to the filing.
  3. The Registrant may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.

If you need anything further, please contact me at your earliest convenience at 612-303-7987.

Sincerely,

/s/ Richard J. Ertel

Richard J. Ertel

Secretary to the Registrants

 

2