0000797923-13-000015.txt : 20130926 0000797923-13-000015.hdr.sgml : 20130926 20130926124217 ACCESSION NUMBER: 0000797923-13-000015 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20130731 FILED AS OF DATE: 20130926 DATE AS OF CHANGE: 20130926 EFFECTIVENESS DATE: 20130926 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DREYFUS MUNICIPAL BOND OPPORTUNITY FUND CENTRAL INDEX KEY: 0000797923 IRS NUMBER: 000000000 STATE OF INCORPORATION: NY FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04764 FILM NUMBER: 131116302 BUSINESS ADDRESS: STREET 1: 200 PARK AVENUE STREET 2: THE DREYFUS CORPORATION CITY: NEW YORK STATE: NY ZIP: 10166 BUSINESS PHONE: 2129226840 MAIL ADDRESS: STREET 1: C/O DREYFUS CORP STREET 2: 200 PARK AVENUE, 8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10166 FORMER COMPANY: FORMER CONFORMED NAME: DREYFUS PREMIER MUNICIPAL BOND FUND DATE OF NAME CHANGE: 19970605 FORMER COMPANY: FORMER CONFORMED NAME: PREMIER MUNICIPAL BOND FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PREMIER TAX EXEMPT BOND FUND DATE OF NAME CHANGE: 19900916 0000797923 S000000090 DREYFUS MUNICIPAL BOND OPPORTUNITY FUND C000000131 Class A PTEBX C000000133 Class C DMBCX C000001400 Class Z dmbzx N-Q 1 formnq-022.htm FORM N-Q formnq-022.htm - Generated by SEC Publisher for SEC Filing

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
INVESTMENT COMPANY

Investment Company Act file number

811-4764

 

 

 

Dreyfus Municipal Bond Opportunity Fund

 

 

(Exact name of Registrant as specified in charter)

 

 

 

 

 

 

c/o The Dreyfus Corporation

200 Park Avenue

New York, New York 10166

 

 

(Address of principal executive offices) (Zip code)

 

 

 

 

 

John Pak, Esq.

200 Park Avenue

New York, New York 10 166

 

 

(Name and address of agent for service)

 

 

Registrant's telephone number, including area code:

(212) 922-6000

 

 

Date of fiscal year end:

 

04/30

 

Date of reporting period:

07/31/2013

 

             

 

 


 

 

FORM N-Q

Item 1.                         Schedule of Investments.

 


 

STATEMENT OF INVESTMENTS

Dreyfus Municipal Bond Opportunity Fund
July 31, 2013 (Unaudited)

Long-Term Municipal  Coupon Maturity Principal    
Investments--101.3%  Rate (%) Date Amount ($)   Value ($)
Alabama--.7%           
Jefferson County,           
Limited Obligation School           
Warrants  5.25 1/1/17 2,000,000   2,000,820
Jefferson County,           
Limited Obligation School           
Warrants  5.00 1/1/24 1,000,000   998,910
Arizona--2.2%           
Mohave County Industrial           
Development Authority,           
Correctional Facilities           
Contract Revenue (Mohave           
Prison, LLC Expansion Project)  8.00 5/1/25 5,000,000   5,975,000
Pima County Industrial Development           
Authority, Education Revenue           
(American Charter Schools           
Foundation Project)  5.63 7/1/38 4,650,000   3,973,378
California--14.1%           
Anaheim Public Financing           
Authority, Revenue (City of           
Anaheim Electric System           
Distribution Facilities)  5.25 10/1/34 3,185,000   3,392,057
California,           
GO (Insured; AMBAC)  6.00 2/1/18 2,245,000   2,712,342
California,           
GO (Various Purpose)  5.25 10/1/20 2,300,000   2,693,691
California,           
GO (Various Purpose)  5.75 4/1/31 7,725,000   8,399,856
California,           
GO (Various Purpose)  6.50 4/1/33 5,000,000   5,859,950
California,           
GO (Various Purpose)  6.00 11/1/35 3,000,000   3,404,970
California Health Facilities           
Financing Authority, Revenue           
(Providence Health and           
Services)  6.50 10/1/38 2,955,000   3,390,449
California Health Facilities           
Financing Authority, Revenue           
(Providence Health and           
Services) (Prerefunded)  6.50 10/1/18 45,000 a  56,278
California State Public Works           
Board, LR (Judicial Council of           
California) (Various Judicial           
Council Projects)  5.00 12/1/31 2,000,000   2,031,200
California State Public Works           
Board, LR (Various Capital           
Projects)  5.13 10/1/31 1,000,000   1,023,710

 



California Statewide Communities         
Development Authority, Revenue         
(Sutter Health)  5.50 8/15/26 2,670,000 2,956,918
Chula Vista,         
IDR (San Diego Gas and         
Electric Company)  5.88 2/15/34 2,000,000 2,223,580
Los Angeles Harbor Department,         
Revenue  5.25 8/1/25 5,000,000 5,716,200
Los Angeles Unified School         
District, GO  5.00 7/1/18 7,210,000 8,454,086
North Natomas Community Facilities         
District Number 4, Special Tax         
Bonds  5.00 9/1/30 1,500,000 1,448,130
Sacramento County,         
Airport System Senior Revenue  5.25 7/1/26 5,000,000 5,500,000
Sacramento County,         
Airport System Senior Revenue  5.50 7/1/29 1,500,000 1,651,455
San Diego County Regional         
Transportation Commission,         
Sales Tax Revenue  5.00 4/1/20 1,250,000 1,490,900
Colorado--3.9%         
City and County of Denver,         
Airport System Subordinate         
Revenue  5.50 11/15/27 5,565,000 5,906,969
Colorado Housing and Finance         
Authority, Single Family         
Program Senior and Subordinate         
Bonds (Collateralized; FHA)  6.60 8/1/32 1,030,000 1,081,376
E-470 Public Highway Authority,         
Senior Revenue  5.38 9/1/26 1,000,000 1,036,870
Regional Transportation District         
of Colorado, Sales Tax Revenue         
(FasTracks Project)  5.00 11/1/27 5,335,000 5,870,154
University of Colorado Regents,         
University Enterprise Revenue  5.75 6/1/28 1,000,000 1,162,970
University of Colorado Regents,         
University Enterprise Revenue  5.25 6/1/36 2,065,000 2,201,249
Connecticut--.8%         
Connecticut Development Authority,         
Water Facilities Revenue         
(Aquarion Water Company of         
Connecticut Project)  5.50 4/1/21 3,000,000 3,336,900
District of Columbia--.7%         
Metropolitan Washington Airports         
Authority, Airport System         
Revenue  5.00 10/1/28 2,800,000 2,927,008
Florida--5.7%         
Broward County,         
Port Facilities Revenue  5.00 9/1/22 3,285,000 3,576,084
Broward County Housing Finance         
Authority, MFHR (Pembroke         
Villas Project) (Insured;         
Assured Guaranty Municipal         
Corp.)  5.55 1/1/23 830,000 830,780

 



Citizens Property Insurance           
Corporation, Coastal Account           
Senior Secured Revenue  5.00 6/1/20 3,000,000   3,395,160
Citizens Property Insurance           
Corporation, High-Risk Account           
Senior Secured Revenue  5.50 6/1/17 2,340,000   2,664,347
Citizens Property Insurance           
Corporation, Personal Lines           
Account/Commercial Lines           
Account Senior Secured Revenue  5.00 6/1/22 3,500,000   3,861,795
Jacksonville Electric Authority,           
Revenue (Saint Johns River           
Power Park System)  5.00 10/1/22 1,625,000   1,823,916
Martin County Industrial           
Development Authority, IDR           
(Indiantown Cogeneration, L.P.           
Project)  4.20 12/15/25 1,750,000   1,534,733
Orlando Utilities Commission,           
Utility System Revenue  5.00 10/1/19 2,325,000   2,748,429
Palm Bay,           
Educational Facilities Revenue           
(Patriot Charter School           
Project)  7.00 7/1/36 215,000 b  42,989
Palm Bay,           
Utility System Improvement           
Revenue (Insured; National           
Public Finance Guarantee Corp.)  0.00 10/1/20 1,845,000 c  1,397,790
Pinellas County Health Facilities           
Authority, Health System           
Revenue (BayCare Health System           
Issue) (Insured; National           
Public Finance Guarantee Corp.)  0.23 11/15/23 2,000,000 d  1,902,000
Port of Palm Beach District,           
Revenue (Insured; XLCA)  0.00 9/1/23 1,000,000 c  521,090
Saint Johns County Industrial           
Development Authority, Revenue           
(Presbyterian Retirement           
Communities Project)  5.88 8/1/40 1,000,000   1,032,680
Georgia--1.6%           
Atlanta,           
Airport General Revenue  5.00 1/1/27 3,000,000   3,085,950
Atlanta,           
Water and Wastewater Revenue  6.00 11/1/26 3,550,000   4,182,113
Hawaii--.2%           
Hawaii Department of Budget and           
Finance, Special Purpose           
Revenue (Hawai'i Pacific           
Health Obligated Group)  5.63 7/1/30 1,000,000   1,029,940
Illinois--7.5%           
Chicago,           
General Airport Third Lien           
Revenue (Chicago O'Hare           
International Airport)           
(Insured; National Public           
Finance Guarantee Corp.)  5.25 1/1/17 3,500,000   3,959,270

 



Chicago Board of Education,         
Unlimited Tax GO (Dedicated         
Revenues)  5.25 12/1/25 10,000,000 10,345,500
Illinois,         
GO  5.00 4/1/22 3,000,000 3,227,490
Illinois,         
GO  5.00 8/1/24 1,000,000 1,046,270
Illinois,         
GO  5.50 7/1/38 3,000,000 3,031,830
Illinois Finance Authority,         
Revenue (Rehabilitation         
Institute of Chicago)  6.00 7/1/43 2,500,000 2,572,300
Illinois Finance Authority,         
Revenue (The Carle Foundation)  5.00 8/15/18 2,500,000 2,845,475
Railsplitter Tobacco Settlement         
Authority, Tobacco Settlement         
Revenue  5.50 6/1/23 1,750,000 1,949,132
Railsplitter Tobacco Settlement         
Authority, Tobacco Settlement         
Revenue  6.00 6/1/28 3,975,000 4,345,470
Indiana--1.1%         
Indiana Finance Authority,         
First Lien Wastewater Utility         
Revenue (CWA Authority Project)  5.25 10/1/25 1,500,000 1,656,105
Indiana Finance Authority,         
Midwestern Disaster Relief         
Revenue (Ohio Valley Electric         
Corporation Project)  5.00 6/1/39 2,000,000 1,873,260
Indiana Finance Authority,         
Revenue (Marquette Project)  5.00 3/1/39 1,400,000 1,254,120
Iowa--.8%         
Iowa Finance Authority,         
Midwestern Disaster Area         
Revenue (Iowa Fertilizer         
Company Project)  5.00 12/1/19 3,500,000 3,430,980
Kansas--.3%         
Kansas Development Finance         
Authority, Revenue (Lifespace         
Communities, Inc.)  5.00 5/15/30 1,500,000 1,470,675
Kentucky--2.8%         
Mount Sterling,         
LR (Kentucky League of Cities         
Funding Trust Program)  6.10 3/1/18 5,500,000 6,083,825
Pendleton County,         
Multi-County LR (Kentucky         
Association of Counties         
Leasing Trust Program)  6.40 3/1/19 6,000,000 6,549,600
Louisiana--1.7%         
Louisiana Local Government         
Environmental Facilities and         
Community Development         
Authority, Revenue (Westlake         
Chemical Corporation Projects)  6.75 11/1/32 2,000,000 2,103,800
Tobacco Settlement Financing         

 



Corporation of Louisiana,           
Tobacco Settlement           
Asset-Backed Bonds  5.00 5/15/27 2,865,000   2,983,554
Tobacco Settlement Financing           
Corporation of Louisiana,           
Tobacco Settlement           
Asset-Backed Bonds  5.25 5/15/35 2,500,000   2,464,675
Maine--.5%           
Maine Health and Higher           
Educational Facilities           
Authority, Revenue           
(MaineGeneral Medical Center           
Issue)  7.50 7/1/32 2,000,000   2,393,580
Maryland--1.6%           
Maryland Transportation Authority,           
Airport Parking Revenue           
(Baltimore/Washington           
International Thurgood           
Marshall Airport Projects)  5.00 3/1/18 6,200,000   7,021,562
Massachusetts--5.4%           
JPMorgan Chase Putters/Drivers           
Trust (Series 4328)           
(Massachusetts School Building           
Authority, Senior Dedicated           
Sales Tax Revenue)  5.00 5/15/21 8,000,000 e,f  8,332,640
Massachusetts Department of           
Transportation, Metropolitan           
Highway System Senior Revenue  5.00 1/1/27 5,000,000   5,309,400
Massachusetts Development Finance           
Agency, Revenue (Tufts Medical           
Center Issue)  6.25 1/1/27 2,250,000   2,486,160
Massachusetts Educational           
Financing Authority, Education           
Loan Revenue (Issue K)  5.25 7/1/29 3,500,000   3,393,390
Massachusetts School Building           
Authority, Senior Dedicated           
Sales Tax Revenue  5.00 10/15/35 1,750,000   1,835,067
Massachusetts Water Resources           
Authority, General Revenue  5.00 8/1/42 2,500,000   2,602,950
Michigan--9.8%           
Detroit,           
Sewage Disposal System Senior           
Lien Revenue (Insured; Assured           
Guaranty Municipal Corp.)  7.00 7/1/27 3,000,000   3,169,650
Detroit Water and Sewerage           
Department, Senior Lien Sewage           
Disposal System Revenue  5.25 7/1/39 2,500,000   2,291,675
Kent Hospital Finance Authority,           
Revenue (Spectrum Health           
System)  5.50 11/15/25 2,500,000   2,764,500
Lansing Board of Water and Light,           
Utility System Revenue  5.50 7/1/41 2,500,000   2,673,450
Michigan Finance Authority,           
Unemployment Obligation           
Assessment Revenue  5.00 7/1/22 7,500,000   8,242,500

 



Michigan Municipal Bond Authority,           
State Clean Water Revolving           
Fund Revenue  5.00 10/1/23 6,340,000   7,212,447
Michigan Strategic Fund,           
LOR (State of Michigan           
Cadillac Place Office Building           
Project)  5.00 10/15/17 2,590,000   2,893,911
Michigan Strategic Fund,           
SWDR (Genesee Power Station           
Project)  7.50 1/1/21 6,025,000   5,690,612
Romulus Economic Development           
Corporation, Limited           
Obligation EDR (Romulus HIR           
Limited Partnership Project)           
(Insured; ITT Lyndon Property           
Insurance Company)  7.00 11/1/15 5,000,000   5,701,650
Wayne County Airport Authority,           
Airport Revenue (Detroit           
Metropolitan Wayne County           
Airport)  5.00 12/1/18 2,500,000   2,804,275
Missouri--.7%           
Curators of the University of           
Missouri, System Facilities           
Revenue  5.00 11/1/19 2,500,000   2,976,200
Nevada--.2%           
Clark County,           
Passenger Facility Charge           
Revenue (Las Vegas-McCarran           
International Airport)  5.00 7/1/30 1,000,000   1,040,560
New Jersey--.5%           
New Jersey Turnpike Authority,           
Turnpike Revenue (Insured;           
National Public Finance           
Guarantee Corp.)  0.11 1/1/30 2,500,000 d  2,225,000
New York--12.4%           
Austin Trust (Series 1107)           
(Port Authority of New York           
and New Jersey, Consolidated           
Bonds, 151st Series)  6.00 9/15/28 9,690,000 e,f  10,754,447
Long Island Power Authority,           
Electric System General Revenue  6.00 5/1/33 5,000,000   5,655,850
Metropolitan Transportation           
Authority, Dedicated Tax Fund           
Revenue  5.00 11/15/32 1,850,000   1,927,589
Metropolitan Transportation           
Authority, Transportation           
Revenue  5.25 11/15/28 2,500,000   2,656,750
New York City,           
GO  5.00 10/1/36 5,000,000   5,158,600
New York City Health and Hospital           
Corporation, GO  5.00 2/15/18 5,265,000   5,954,083
New York City Industrial           
Development Agency, Senior           
Airport Facilities Revenue           
(Transportation Infrastructure           

 



Properties, LLC Obligated           
Group)  5.00 7/1/20 3,000,000   3,070,290
New York City Municipal Water           
Finance Authority, Water and           
Sewer System Second General           
Resolution Revenue  5.00 6/15/34 5,000,000   5,248,450
New York City Transitional Finance           
Authority, Future Tax Secured           
Subordinate Revenue  5.00 2/1/24 2,000,000   2,247,200
New York Liberty Development           
Corporation, Liberty Revenue           
(4 World Trade Center Project)  5.00 11/15/31 1,000,000   1,025,850
New York State Dormitory           
Authority, Revenue (Orange           
Regional Medical Center           
Obligated Group)  6.25 12/1/37 5,000,000   5,247,300
New York State Dormitory           
Authority, State Personal           
Income Tax Revenue (General           
Purpose)  5.00 8/15/18 5,000,000   5,878,000
North Carolina--1.0%           
Wake County Industrial Facilities           
and Pollution Control           
Financing Authority, PCR           
(Carolina Power and Light           
Company Project) (Insured;           
AMBAC)  0.11 10/1/22 4,725,000 d  4,417,875
Ohio--.7%           
Cleveland-Cuyahoga County Port           
Authority, Senior Special           
Assessment/Tax Increment           
Revenue (University Heights -           
Public Parking Garage Project)  7.35 12/1/31 3,000,000   3,005,460
Oklahoma--1.0%           
Oklahoma Municipal Power           
Authority, Power Supply System           
Revenue  6.00 1/1/38 4,000,000   4,431,680
Pennsylvania--3.7%           
Allegheny County Port Authority,           
Special Transportation Revenue  5.25 3/1/23 2,715,000   3,042,212
Pennsylvania Economic Development           
Financing Authority,           
Unemployment Compensation           
Revenue  5.00 7/1/22 3,000,000   3,313,290
Pennsylvania Higher Educational           
Facilities Authority, Revenue           
(University of Pennsylvania           
Health System)  6.00 8/15/26 5,000,000   5,755,900
Philadelphia School District,           
GO  5.25 9/1/23 4,000,000   4,411,040
South Carolina--1.2%           
South Carolina Public Service           
Authority, Revenue Obligations  5.50 1/1/38 5,000,000   5,372,400
Tennessee--.6%           
Johnson City Health and           

 



Educational Facilities Board,         
HR (Mountain States Health         
Alliance)  6.00 7/1/38 2,435,000 2,610,320
Texas--8.0%         
Brownsville,         
Utilities System Revenue  5.00 9/1/28 2,225,000 2,355,096
Dallas and Fort Worth,         
Joint Improvement Revenue         
(Dallas/Fort Worth         
International Airport)  5.00 11/1/42 5,000,000 4,742,300
Houston,         
Airport System Special         
Facilities Revenue         
(Continental Airlines, Inc.         
Terminal Improvements Projects)  6.13 7/15/17 1,600,000 1,595,232
Houston,         
Airport System Subordinate         
Lien Revenue  5.00 7/1/17 2,500,000 2,817,425
Houston Community College System,         
Limited Tax GO  5.00 2/15/29 2,000,000 2,167,180
Love Field Airport Modernization         
Corporation, Special         
Facilities Revenue (Southwest         
Airlines Company - Love Field         
Modernization Program Project)  5.00 11/1/22 2,000,000 2,108,920
North Texas Tollway Authority,         
First Tier System Revenue         
(Insured; Assured Guaranty         
Corp.)  5.75 1/1/40 5,665,000 6,187,086
North Texas Tollway Authority,         
Second Tier System Revenue  5.75 1/1/38 5,510,000 5,791,892
San Antonio,         
Electric and Gas Systems         
Junior Lien Revenue  5.00 2/1/43 3,500,000 3,606,785
San Antonio,         
Water System Revenue  5.00 5/15/36 3,945,000 4,141,382
Virginia--.7%         
Virginia Housing Development         
Authority, Commonwealth         
Mortgage Revenue  6.25 7/1/31 2,795,000 3,043,531
Washington--2.5%         
Chelan County Public Utility         
District Number 1,         
Consolidated System Revenue  5.00 7/1/17 2,180,000 2,448,402
Energy Northwest,         
Electric Revenue (Project 3)  5.00 7/1/18 2,500,000 2,924,925
Washington,         
Motor Vehicle Fuel Tax GO         
(State Road 520 Corridor         
Program - Toll Revenue)  5.00 6/1/33 2,255,000 2,375,778
Washington Health Care Facilities         
Authority, Revenue (Providence         
Health and Services)  5.00 10/1/42 3,500,000 3,452,155
West Virginia--1.2%         
West Virginia University Board of         

 



Governors, University         
Improvement Revenue (West         
Virginia University Projects)  5.00 10/1/36 5,000,000 5,189,750
Wisconsin--1.4%         
Wisconsin Health and Educational         
Facilities Authority, Revenue         
(Aurora Health Care, Inc.)  5.50 4/15/29 2,200,000 2,267,518
Wisconsin Health and Educational         
Facilities Authority, Revenue         
(Aurora Health Care, Inc.)  6.40 4/15/33 4,000,000 4,005,040
U.S. Related--4.1%         
Puerto Rico Aqueduct and Sewer         
Authority, Senior Lien Revenue  5.00 7/1/21 3,610,000 3,402,353
Puerto Rico Aqueduct and Sewer         
Authority, Senior Lien Revenue  5.25 7/1/29 3,820,000 3,395,713
Puerto Rico Commonwealth,         
Public Improvement GO  6.00 7/1/28 1,000,000 965,580
Puerto Rico Electric Power         
Authority, Power Revenue  5.25 7/1/24 1,500,000 1,427,490
Puerto Rico Electric Power         
Authority, Power Revenue         
(Insured; National Public         
Finance Guarantee Corp.)  5.00 7/1/19 2,515,000 2,579,661
Puerto Rico Sales Tax Financing         
Corporation, Sales Tax Revenue         
(First Subordinate Series)  6.00 8/1/39 1,500,000 1,501,695
Puerto Rico Sales Tax Financing         
Corporation, Sales Tax Revenue         
(First Subordinate Series)  6.00 8/1/42 5,000,000 5,005,000
Total Long-Term Municipal Investments         
(cost $434,444,468)        449,444,157

 

Short-Term Municipal  Coupon  Maturity  Principal      
Investment--.6%  Rate (%)  Date  Amount ($)   Value ($)  
California;             
California,             
GO Notes             
(Kindergarten-University)             
(LOC; Citibank NA)             
(cost $2,500,000)  0.04 8/1/13 2,500,000 g  2,500,000  
Total Investments (cost $436,944,468)      101.9 %  451,944,157  
Liabilities, Less Cash and Receivables      (1.9 %)  (8,597,055 ) 
Net Assets      100.0 %  443,347,102  

 

a  This security is prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are 
  collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the 
  municipal issue and to retire the bonds in full at the earliest refunding date. 
b  Non-income producing--security in default. 
c  Security issued with a zero coupon. Income is recognized through the accretion of discount. 
d  Variable rate security--interest rate subject to periodic change. 
e  Collateral for floating rate borrowings. 
f  Securities 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 July 31, 2013, these 
  securities were valued at $19,087,087 or 4.3% of net assets. 
g  Variable rate demand note - rate shown is the interest rate in effect at July 31, 2013. Maturity date represents the next 
  demand date, or the ultimate maturity date if earlier. 

 



At July 31, 2013, net unrealized appreciation on investments was $14,999,689 of which $21,084,249 related to appreciated investment securities and $6,084,560 related to depreciated investment securities. At July 31, 2013, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.

Summary of Abbreviations     
ABAG  Association of Bay Area Governments  ACA  American Capital Access 
AGC  ACE Guaranty Corporation  AGIC  Asset Guaranty Insurance Company 
AMBAC  American Municipal Bond Assurance Corporation  ARRN  Adjustable Rate Receipt Notes 
BAN  Bond Anticipation Notes  BPA  Bond Purchase Agreement 
CIFG  CDC Ixis Financial Guaranty  COP  Certificate of Participation 
CP  Commercial Paper  DRIVERS  Derivative Inverse Tax-Exempt Receipts 
EDR  Economic Development Revenue  EIR  Environmental Improvement Revenue 
FGIC  Financial Guaranty Insurance Company  FHA  Federal Housing Administration 
FHLB  Federal Home Loan Bank  FHLMC  Federal Home Loan Mortgage Corporation 
FNMA  Federal National Mortgage Association  GAN  Grant Anticipation Notes 
GIC  Guaranteed Investment Contract  GNMA  Government National Mortgage Association 
GO  General Obligation  HR  Hospital Revenue 
IDB  Industrial Development Board  IDC  Industrial Development Corporation 
IDR  Industrial Development Revenue  LIFERS  Long Inverse Floating Exempt Receipts 
LOC  Letter of Credit  LOR  Limited Obligation Revenue 
LR  Lease Revenue  MERLOTS  Municipal Exempt Receipts Liquidity Option 
      Tender 
MFHR  Multi-Family Housing Revenue  MFMR  Multi-Family Mortgage Revenue 
PCR  Pollution Control Revenue  P-FLOATS  Puttable Floating Option Tax-Exempts Receipts 
PILOT  Payment in Lieu of Taxes  PUTTERS  Puttable Tax-Exempt Receipts 
RAC  Revenue Anticipation Certificates  RAN  Revenue Anticipation Notes 
RAW  Revenue Anticipation Warrants  ROCS  Reset Option Certificates 
RRR  Resources Recovery Revenue  SAAN  State Aid Anticipation Notes 
SBPA  Standby Bond Purchase Agreement  SFHR  Single Family Housing Revenue 
SFMR  Single Family Mortgage Revenue  SONYMA  State of New York Mortgage Agency 

 



SPEARS  Short Puttable Exempt Adjustable Receipts  SWDR  Solid Waste Disposal Revenue 
TAN  Tax Anticipation Notes  TAW  Tax Anticipation Warrants 
TRAN  Tax and Revenue Anticipation Notes  XLCA  XL Capital Assurance 

 



The following is a summary of the inputs used as of July 31, 2013 in valuing the fund's investments:




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'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.

Portfolio valuation: 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 Board of

Directors. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Other investments (which constitute a majority of the portfolio securities) are carried at fair value as determined by the Service, based on methods which include consideration of 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 preceding securities are categorized as Level 2 in the hierarchy.

When market quotations or official closing prices are not readily available,



or are determined not to reflect accurately 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 (for example, a foreign exchange or market), 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 of Directors. 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 as Level 2 or 3 depending on the relevant inputs used.

For restricted securities where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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

 

Item 2.             Controls and Procedures.

(a)        The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b)        There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting. 

Item 3.             Exhibits.

(a)        Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.

 


 

 

FORM N-Q

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.

Dreyfus Municipal Bond Opportunity Fund

By: /s/ Bradley J. Skapyak

Bradley J. Skapyak

President

 

Date

September 25, 2013

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

By: /s/ Bradley J. Skapyak

Bradley J. Skapyak

President

 

Date:

September 25, 2013

 

By: /s/ James Windels

James Windels

Treasurer

 

Date:

September 25, 2013

 

EXHIBIT INDEX

(a)        Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.  (EX-99.CERT)

EX-99.CERT 2 certification-022.htm CERTIFICATION certification-022.htm - Generated by SEC Publisher for SEC Filing

 

SECTION 302 CERTIFICATION

I, Bradley J. Skapyak, certify that:

1.  I have reviewed this report on Form N-Q of Dreyfus Municipal Bond Opportunity Fund

2.  Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.  Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4.  The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;

5.  The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

By: /s/ Bradley J. Skapyak

Bradley J. Skapyak

President

Date: September 25, 2013

 

 


 

 

SECTION 302 CERTIFICATION

I, James Windels, certify that:

1.  I have reviewed this report on Form N-Q of Dreyfus Municipal Bond Opportunity Fund;

2.  Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.  Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4.  The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;

5.  The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

By: /s/ James Windels

James Windels

Treasurer

Date: September 25, 2013

 

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