NPORT-EX 2 c10285bnymello-december20221.htm Untitled Document

STATEMENT OF INVESTMENTS
BNY  Mellon  Municipal Income, Inc.

December 31, 2022 (Unaudited)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 152.6%

     

Alabama - 5.4%

     

Jefferson County, Revenue Bonds, Refunding, Ser. F

 

7.75

 

10/1/2046

 

4,000,000

a 

4,088,534

 

The Lower Alabama Gas District, Revenue Bonds, Ser. A

 

5.00

 

9/1/2046

 

2,500,000

 

2,503,359

 

University of Alabama at Birmingham, Revenue Bonds, Ser. B

 

4.00

 

10/1/2036

 

1,500,000

 

1,510,152

 
 

8,102,045

 

Arizona - 4.9%

     

Arizona Industrial Development Authority, Revenue Bonds (Equitable School Revolving Fund LLC Obligated Group) Ser. A

 

4.00

 

11/1/2045

 

1,355,000

 

1,193,695

 

Glendale Industrial Development Authority, Revenue Bonds, Refunding (Sun Health Services Obligated Group) Ser. A

 

5.00

 

11/15/2048

 

1,500,000

 

1,510,783

 

La Paz County Industrial Development Authority, Revenue Bonds (Harmony Public Schools) Ser. A

 

5.00

 

2/15/2046

 

1,500,000

b 

1,499,928

 

La Paz County Industrial Development Authority, Revenue Bonds (Harmony Public Schools) Ser. A

 

5.00

 

2/15/2036

 

1,000,000

b 

1,010,922

 

Salt Verde Financial Corp., Revenue Bonds

 

5.00

 

12/1/2037

 

2,190,000

 

2,228,825

 
 

7,444,153

 

California - 12.2%

     

California County Tobacco Securitization Agency, Revenue Bonds, Refunding, Ser. A

 

4.00

 

6/1/2049

 

1,000,000

 

855,549

 

California County Tobacco Securitization Agency, Revenue Bonds, Refunding, Ser. A

 

4.00

 

6/1/2039

 

565,000

 

523,151

 

San Diego County Regional Airport Authority, Revenue Bonds, Ser. B

 

5.00

 

7/1/2051

 

3,750,000

 

3,794,617

 

Southern California Tobacco Securitization Authority, Revenue Bonds, Refunding (San Diego County Tobacco Asset Securitization)

 

5.00

 

6/1/2048

 

2,000,000

 

2,019,745

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 152.6% (continued)

     

California - 12.2% (continued)

     

Tender Option Bond Trust Receipts (Series 2016-XM0387), (Los Angeles Department of Airports, Revenue Bonds (Los Angeles International Airport)) Non-recourse, Underlying Coupon Rate (%) 5.00

 

4.52

 

5/15/2038

 

4,000,000

b,c,d 

4,011,544

 

Tender Option Bond Trust Receipts (Series 2016-XM0390), (The Regents of the University of California, Revenue Bonds, Refunding) Non-recourse, Underlying Coupon Rate (%) 5.00

 

4.58

 

5/15/2036

 

3,740,000

b,c,d 

3,768,349

 

Tender Option Bond Trust Receipts (Series 2022-XF3024), (San Franscisco City & County, Revenue Bonds, Refunding, Ser. A) Recourse, Underlying Coupon Rate (%) 5.00

 

5.44

 

5/1/2044

 

3,360,000

b,c,d 

3,435,536

 
 

18,408,491

 

Colorado - 5.9%

     

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

 

4.00

 

12/1/2050

 

2,000,000

 

1,623,067

 

Colorado High Performance Transportation Enterprise, Revenue Bonds

 

5.00

 

12/31/2056

 

1,500,000

 

1,468,100

 

Tender Option Bond Trust Receipts (Series 2016-XM0433), (Colorado Springs, Revenue Bonds) Recourse, Underlying Coupon Rate (%) 5.00

 

5.28

 

11/15/2043

 

3,997,093

b,c,d 

4,039,938

 

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

 

4.37

 

8/1/2044

 

1,645,000

b,c,d 

1,716,728

 
 

8,847,833

 

Connecticut - 2.4%

     

Connecticut, Revenue Bonds, Ser. A

 

5.00

 

5/1/2040

 

1,000,000

 

1,086,331

 

Connecticut Health & Educational Facilities Authority, Revenue Bonds, Refunding (Trinity Health Corp. Obligated Group)

 

5.00

 

12/1/2045

 

2,500,000

 

2,537,464

 
 

3,623,795

 


          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 152.6% (continued)

     

Florida - 7.2%

     

Atlantic Beach, Revenue Bonds (Fleet Landing Project) Ser. A

 

5.00

 

11/15/2048

 

1,500,000

 

1,408,850

 

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

 

5.00

 

3/1/2049

 

1,500,000

 

1,476,938

 

Halifax Hospital Medical Center, Revenue Bonds, Refunding

 

4.00

 

6/1/2025

 

1,000,000

e 

1,030,743

 

Palm Beach County Health Facilities Authority, Revenue Bonds (Lifespace Communities Inc. Obligated Group) Ser. B

 

4.00

 

5/15/2053

 

1,000,000

 

668,525

 

Tampa, Revenue Bonds (H. Lee Moffitt Cancer Center & Research Institute Obligated Group) Ser. B

 

5.00

 

7/1/2050

 

1,500,000

 

1,514,838

 

Tender Option Bond Trust Receipts (Series 2019-XM0782), (Palm Beach County Florida Health Facilities Authority, Revenue Bonds, Refunding (Baptist Health South Florida Obligated Group)) Recourse, Underlying Coupon Rate (%) 4.00

 

1.80

 

8/15/2049

 

2,770,000

b,c,d 

2,446,578

 

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

 

1.40

 

10/1/2049

 

1,380,000

b,c,d 

1,201,730

 

Tender Option Bond Trust Receipts (Series 2022-XF1385), (Fort Myers FL Utility, Revenue Bonds, Refunding, Ser. A) Non-recourse, Underlying Coupon Rate (%) 4.00

 

1.99

 

10/1/2044

 

1,050,000

b,c,d 

1,015,563

 
 

10,763,765

 

Georgia - 5.1%

     

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

 

5.00

 

7/1/2052

 

1,250,000

 

1,232,114

 

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

 

5.14

 

1/1/2056

 

1,270,000

b,c,d 

1,260,937

 

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

 

2.82

 

7/1/2044

 

2,660,000

b,c,d 

2,747,353

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 152.6% (continued)

     

Georgia - 5.1% (continued)

     

The Atlanta Development Authority, Revenue Bonds, Ser. A1

 

5.25

 

7/1/2040

 

1,500,000

 

1,549,593

 

The Burke County Development Authority, Revenue Bonds, Refunding (Oglethorpe Power Corp.) Ser. D

 

4.13

 

11/1/2045

 

1,000,000

 

856,148

 
 

7,646,145

 

Illinois - 19.0%

     

Chicago Board of Education, Revenue Bonds

 

5.00

 

4/1/2046

 

1,725,000

 

1,701,665

 

Chicago II, GO, Refunding, Ser. A

 

6.00

 

1/1/2038

 

2,000,000

 

2,110,731

 

Chicago II, GO, Ser. A

 

5.00

 

1/1/2044

 

1,000,000

 

971,502

 

Chicago II Wastewater Transmission, Revenue Bonds, Refunding, Ser. C

 

5.00

 

1/1/2039

 

1,100,000

 

1,105,037

 

Chicago II Waterworks, Revenue Bonds (2nd Lien Project)

 

5.00

 

11/1/2028

 

1,000,000

 

1,024,015

 

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

 

5.00

 

1/1/2048

 

2,000,000

 

2,027,641

 

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

 

5.50

 

1/1/2055

 

1,500,000

 

1,571,008

 

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

 

5.00

 

12/1/2045

 

1,000,000

 

1,013,398

 

Illinois, GO, Refunding, Ser. A

 

5.00

 

10/1/2029

 

1,000,000

 

1,029,573

 

Illinois, GO, Ser. A

 

5.00

 

5/1/2038

 

1,250,000

 

1,248,586

 

Illinois, GO, Ser. D

 

5.00

 

11/1/2028

 

1,000,000

 

1,028,833

 

Illinois Finance Authority, Revenue Bonds, Refunding (Rosalind Franklin University of Medicine & Science)

 

5.00

 

8/1/2047

 

1,350,000

 

1,322,974

 

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

 

5.00

 

6/15/2057

 

2,500,000

 

2,416,252

 

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

 

0.00

 

12/15/2036

 

2,500,000

f 

1,291,961

 

Sales Tax Securitization Corp., Revenue Bonds, Refunding, Ser. A

 

4.00

 

1/1/2039

 

1,500,000

 

1,419,925

 


          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 152.6% (continued)

     

Illinois - 19.0% (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

 

4.58

 

10/1/2040

 

7,000,000

b,c,d 

7,308,314

 
 

28,591,415

 

Indiana - .7%

     

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

 

5.00

 

11/1/2043

 

1,000,000

 

1,024,383

 

Iowa - .9%

     

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

 

5.00

 

12/1/2050

 

1,500,000

 

1,401,654

 

Kentucky - 1.6%

     

Kentucky Economic Development Finance Authority, Revenue Bonds, Refunding (Louisville Arena Project) (Insured; Assured Guaranty Municipal Corp.) Ser. A

 

5.00

 

12/1/2045

 

1,000,000

 

1,015,190

 

Kentucky Public Energy Authority, Revenue Bonds, Ser. A1

 

4.00

 

8/1/2030

 

1,500,000

g 

1,453,740

 
 

2,468,930

 

Louisiana - 4.9%

     

Louisiana Local Government Environmental Facilities & Community Development Authority, Revenue Bonds, Refunding (Westlake Chemical Project)

 

3.50

 

11/1/2032

 

1,000,000

 

934,870

 

Tender Option Bond Trust Receipts (Series 2018-XF2584), (Louisiana Public Facilities Authority, Revenue Bonds (Franciscan Missionaries of Our Lady Health System Project)) Non-recourse, Underlying Coupon Rate (%) 5.00

 

4.95

 

7/1/2047

 

6,320,000

b,c,d 

6,377,045

 
 

7,311,915

 

Maryland - 3.4%

     

Maryland Economic Development Corp., Revenue Bonds (Green Bond) (Purple Line Transit Partners LLC) Ser. B

 

5.25

 

6/30/2052

 

1,000,000

 

991,950

 

Maryland Health & Higher Educational Facilities Authority, Revenue Bonds (Adventist Healthcare Obligated Group) Ser. A

 

5.50

 

1/1/2046

 

1,500,000

 

1,454,387

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 152.6% (continued)

     

Maryland - 3.4% (continued)

     

Maryland Health & Higher Educational Facilities Authority, Revenue Bonds, Refunding (Stevenson University Project)

 

4.00

 

6/1/2046

 

750,000

 

653,760

 

Tender Option Bond Trust Receipts (Series 2016-XM0391), (Mayor & City Council of Baltimore, Revenue Bonds, Refunding (Water Projects)) Non-recourse, Underlying Coupon Rate (%) 5.00

 

4.58

 

7/1/2042

 

2,000,000

b,c,d 

2,041,471

 
 

5,141,568

 

Massachusetts - 6.3%

     

Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Atrius Health Obligated Group) Ser. A

 

4.00

 

6/1/2029

 

1,500,000

e 

1,617,754

 

Massachusetts Development Finance Agency, Revenue Bonds, Refunding (UMass Memorial Health Care Obligated Group) Ser. I

 

5.00

 

7/1/2046

 

1,835,000

 

1,843,164

 

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

 

5.00

 

7/1/2026

 

950,000

 

999,545

 

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

 

4.00

 

7/1/2044

 

1,500,000

 

1,344,400

 

Tender Option Bond Trust Receipts (Series 2016-XM0386), (University of Massachusetts Building Authority, Revenue Bonds, Refunding) Non-recourse, Underlying Coupon Rate (%) 5.00

 

4.58

 

5/1/2043

 

3,695,009

b,c,d 

3,718,599

 
 

9,523,462

 

Michigan - 1.6%

     

Michigan Finance Authority, Revenue Bonds, Refunding (Beaumont-Spectrum)

 

4.00

 

4/15/2042

 

1,000,000

 

932,170

 

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

 

5.00

 

7/1/2036

 

500,000

 

510,910

 

Pontiac School District, GO

 

4.00

 

5/1/2045

 

1,000,000

 

992,752

 
 

2,435,832

 

Minnesota - 1.0%

     

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

 

5.00

 

2/15/2058

 

1,000,000

 

978,206

 


          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 152.6% (continued)

     

Minnesota - 1.0% (continued)

     

St. Paul Minnesota Housing & Redevelopment Authority, Revenue Bonds, Refunding (HealthEast Care System Project)

 

5.00

 

11/15/2025

 

500,000

e 

529,457

 
 

1,507,663

 

Missouri - 1.8%

     

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

 

5.00

 

3/1/2044

 

750,000

 

762,772

 

The Missouri Health & Educational Facilities Authority, Revenue Bonds (Lutheran Senior Services Projects) Ser. A

 

5.00

 

2/1/2042

 

2,000,000

 

1,884,938

 
 

2,647,710

 

Multi-State - .8%

     

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

 

3.15

 

1/15/2036

 

1,415,000

b 

1,230,899

 

Nebraska - .7%

     

Douglas County Hospital Authority No. 2, Revenue Bonds (Children's Hospital Obligated Group)

 

5.00

 

11/15/2036

 

1,000,000

 

1,040,712

 

Nevada - 2.4%

     

Clark County School District, GO (Insured; Assured Guaranty Municipal Corp.) Ser. A

 

4.25

 

6/15/2041

 

1,340,000

 

1,348,110

 

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

 

4.00

 

6/1/2058

 

1,250,000

 

1,100,889

 

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

 

4.13

 

6/1/2058

 

1,250,000

 

1,137,364

 
 

3,586,363

 

New Hampshire - .5%

     

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

 

4.00

 

1/1/2051

 

1,000,000

 

781,047

 

New Jersey - 8.9%

     

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

 

5.25

 

6/15/2027

 

750,000

 

784,296

 

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

 

5.25

 

6/15/2040

 

1,180,000

 

1,198,194

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 152.6% (continued)

     

New Jersey - 8.9% (continued)

     

New Jersey Health Care Facilities Financing Authority, Revenue Bonds (RWJ Barnabas Health Obligated Group)

 

4.00

 

7/1/2051

 

855,000

 

768,501

 

New Jersey Transportation Trust Fund Authority, Revenue Bonds

 

5.00

 

6/15/2046

 

1,250,000

 

1,267,299

 

New Jersey Transportation Trust Fund Authority, Revenue Bonds

 

5.25

 

6/15/2043

 

2,000,000

 

2,078,727

 

New Jersey Transportation Trust Fund Authority, Revenue Bonds, Ser. AA

 

5.25

 

6/15/2033

 

1,000,000

 

1,036,361

 

New Jersey Turnpike Authority, Revenue Bonds, Ser. A

 

4.00

 

1/1/2048

 

1,200,000

 

1,140,129

 

South Jersey Port Corp., Revenue Bonds, Ser. B

 

5.00

 

1/1/2048

 

1,000,000

 

967,809

 

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

 

5.00

 

6/1/2046

 

3,860,000

 

3,786,730

 

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

 

5.25

 

6/1/2046

 

390,000

 

391,436

 
 

13,419,482

 

New York - 5.5%

     

New York Convention Center Development Corp., Revenue Bonds (Hotel Unit Fee) (Insured; Assured Guaranty Municipal Corp.) Ser. B

 

0.00

 

11/15/2049

 

5,600,000

f 

1,456,433

 

New York Transportation Development Corp., Revenue Bonds (JFK International Air Terminal LLC)

 

5.00

 

12/1/2042

 

1,000,000

 

1,007,663

 

New York Transportation Development Corp., Revenue Bonds (LaGuardia Airport Terminal B Redevelopment Project) Ser. A

 

5.25

 

1/1/2050

 

1,500,000

 

1,459,716

 

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

 

4.00

 

7/15/2051

 

750,000

 

662,186

 

Tender Option Bond Trust Receipts (Series 2022-XM1004), (Metropolitan Transportation Authority, Revenue Bonds, Refunding (Green Bond) (Insured; Assured Guaranty Municipal Corp., Ser. C)) Non-recourse, Underlying Coupon Rate (%) 4.00

 

2.68

 

11/15/2047

 

2,000,000

b,c,d 

1,812,575

 


          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 152.6% (continued)

     

New York - 5.5% (continued)

     

Triborough Bridge & Tunnel Authority, Revenue Bonds, Ser. C1A

 

4.00

 

5/15/2046

 

2,000,000

 

1,861,796

 
 

8,260,369

 

Ohio - 1.2%

     

Buckeye Tobacco Settlement Financing Authority, Revenue Bonds, Refunding, Ser. A2

 

4.00

 

6/1/2048

 

1,000,000

 

856,990

 

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

 

5.00

 

2/15/2052

 

1,000,000

 

979,774

 
 

1,836,764

 

Oregon - .5%

     

Salem Hospital Facility Authority, Revenue Bonds, Refunding (Capital Manor Project)

 

4.00

 

5/15/2057

 

1,000,000

 

709,211

 

Pennsylvania - 8.4%

     

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

 

5.00

 

2/1/2032

 

1,255,000

 

1,394,879

 

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

 

5.00

 

12/1/2042

 

1,000,000

 

1,000,445

 

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

 

5.00

 

11/15/2036

 

1,000,000

 

1,000,982

 

Pennsylvania Economic Development Financing Authority, Revenue Bonds (The Penndot Major Bridges)

 

6.00

 

6/30/2061

 

1,000,000

 

1,057,732

 

Pennsylvania Economic Development Financing Authority, Revenue Bonds, Refunding (Presbyterian Senior Living)

 

4.00

 

7/1/2046

 

1,000,000

 

817,190

 

Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Refunding (University of Sciences)

 

5.00

 

11/1/2033

 

2,000,000

 

2,068,944

 

Pennsylvania Turnpike Commission, Revenue Bonds, Ser. A1

 

5.00

 

12/1/2046

 

1,000,000

 

1,025,128

 

Pennsylvania Turnpike Commission, Revenue Bonds, Ser. B

 

4.00

 

12/1/2051

 

1,000,000

 

900,500

 

Pennsylvania Turnpike Commission Oil Franchise, Revenue Bonds, Ser. B

 

5.25

 

12/1/2048

 

1,000,000

 

1,051,070

 

Philadelphia Water & Wastewater, Revenue Bonds, Ser. A

 

5.00

 

11/1/2050

 

1,000,000

 

1,051,402

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 152.6% (continued)

     

Pennsylvania - 8.4% (continued)

     

The Philadelphia School District, GO (Insured; State Aid Withholding) Ser. A

 

4.00

 

9/1/2036

 

1,345,000

 

1,327,293

 
 

12,695,565

 

Rhode Island - .4%

     

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

 

5.00

 

9/15/2037

 

500,000

 

542,499

 

South Carolina - 7.3%

     

South Carolina Jobs-Economic Development Authority, Revenue Bonds (Bishop Gadsden Episcopal Retirement Community Obligated Group)

 

5.00

 

4/1/2054

 

1,000,000

 

870,890

 

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

 

4.00

 

12/1/2055

 

1,000,000

 

846,339

 

Tender Option Bond Trust Receipts (Series 2016-XM0384), (South Carolina Public Service Authority, Revenue Bonds, Refunding (Santee Cooper)) Non-recourse, Underlying Coupon Rate (%) 5.13

 

4.56

 

12/1/2043

 

4,800,000

b,c,d 

4,816,150

 

Tobacco Settlement Revenue Management Authority, Revenue Bonds, Ser. B

 

6.38

 

5/15/2030

 

3,750,000

 

4,515,105

 
 

11,048,484

 

South Dakota - 1.3%

     

Tender Option Bond Trust Receipts (Series 2022-XF1409), (South Dakota Heath & Educational Facilities Authority, Revenue Bonds, Refunding (Avera Health Obligated Group)) Non-recourse, Underlying Coupon Rate (%) 5.00

 

5.26

 

7/1/2046

 

2,000,000

b,c,d 

2,009,022

 

Tennessee - 1.3%

     

Tender Option Bond Trust Receipts (Series 2016-XM0388), (Metropolitan Government of Nashville & Davidson County, Revenue Bonds, Refunding) Non-recourse, Underlying Coupon Rate (%) 5.00

 

4.25

 

7/1/2023

 

2,000,000

b,c,d 

2,019,893

 

Texas - 13.6%

     

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

 

4.00

 

8/15/2047

 

2,275,000

 

2,036,681

 


          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 152.6% (continued)

     

Texas - 13.6% (continued)

     

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

 

4.25

 

12/1/2034

 

1,000,000

 

980,900

 

Harris County-Houston Sports Authority, Revenue Bonds, Refunding (Insured; Assured Guaranty Municipal Corp.) Ser. A

 

0.00

 

11/15/2052

 

4,000,000

f 

877,611

 

New Hope Cultural Education Facilities Finance Corp., Revenue Bonds, Refunding (Webminister Project)

 

4.00

 

11/1/2049

 

1,600,000

 

1,219,371

 

North Texas Tollway Authority, Revenue Bonds, Refunding, Ser. A

 

4.00

 

1/2/2038

 

1,750,000

 

1,735,539

 

San Antonio Education Facilities Corp., Revenue Bonds, Refunding (University of the Incarnate Word)

 

4.00

 

4/1/2046

 

1,675,000

 

1,368,459

 

Tender Option Bond Trust Receipts (Series 2016-XM0377), (San Antonio, Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 5.00

 

4.58

 

2/1/2043

 

6,300,000

b,c,d 

6,309,076

 

Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds (Blueridge Transportation Group LLC)

 

5.00

 

12/31/2055

 

1,000,000

 

957,332

 

Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds (Blueridge Transportation Group LLC)

 

5.00

 

12/31/2050

 

1,200,000

 

1,159,503

 

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

 

5.00

 

6/30/2058

 

2,500,000

 

2,395,983

 

Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, Refunding (LBJ Infrastructure Group)

 

4.00

 

12/31/2039

 

1,600,000

 

1,483,009

 
 

20,523,464

 

Utah - 1.6%

     

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

 

5.00

 

4/15/2031

 

860,000

 

929,560

 

Utah Infrastructure Agency, Revenue Bonds, Refunding, Ser. A

 

5.00

 

10/15/2037

 

1,500,000

 

1,512,484

 
 

2,442,044

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Long-Term Municipal Investments - 152.6% (continued)

     

Virginia - 2.5%

     

Virginia Small Business Financing Authority, Revenue Bonds (Transform 66 P3 Project)

 

5.00

 

12/31/2052

 

2,000,000

 

1,893,153

 

Virginia Small Business Financing Authority, Revenue Bonds, Refunding

 

5.00

 

12/31/2057

 

1,000,000

 

994,387

 

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

 

4.00

 

1/1/2048

 

1,000,000

 

835,372

 
 

3,722,912

 

Washington - 9.2%

     

Port of Seattle, Revenue Bonds

 

4.00

 

4/1/2044

 

1,000,000

 

888,277

 

Tender Option Bond Trust Receipts (Series 2018-XM0680), (Washington Convention Center Public Facilities District, Revenue Bonds) Non-recourse, Underlying Coupon Rate (%) 5.00

 

4.82

 

7/1/2058

 

13,000,000

b,c,d 

13,028,231

 
 

13,916,508

 

Wisconsin - 2.2%

     

Public Finance Authority, Revenue Bonds (EMU Campus Living LLC) (Insured; Build America Mutual) Ser. A1

 

5.50

 

7/1/2052

 

1,000,000

 

1,087,490

 

Public Finance Authority, Revenue Bonds (EMU Campus Living LLC) (Insured; Build America Mutual) Ser. A1

 

5.63

 

7/1/2055

 

1,000,000

 

1,086,589

 

Wisconsin Health & Educational Facilities Authority, Revenue Bonds (Bellin Memorial Hospital Obligated Group)

 

5.50

 

12/1/2052

 

1,000,000

 

1,070,581

 
 

3,244,660

 

Total Investments (cost $240,357,492)

 

152.6%

229,920,657

 

Liabilities, Less Cash and Receivables

 

(32.5%)

(49,073,917)

 

Preferred Stock, at redemption value

 

(20.1%)

(30,225,000)

 

Net Assets Applicable to Common Shareholders

 

100.0%

150,621,740

 

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 December 31, 2022, these securities were valued at $78,826,381 or 52.33% of net assets.

c 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.

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

e 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.

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


g These securities have a put feature; the date shown represents the put date and the bond holder can take a specific action to retain the bond after the put date.


STATEMENT OF FINANCIAL FUTURES
BNY  Mellon  Municipal Income, Inc.

December 31, 2022 (Unaudited)

The following is a summary of the inputs used as of December 31, 2022 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

-

229,920,657

 

-

229,920,657

 

Liabilities ($)

  

Other Financial Instruments:

  

Inverse Floater Notes††

-

(51,997,102)

 

-

(51,997,102)

 

 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 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:

The fund’s Board of Directors (the “Board”) has designated the Adviser as the fund’s valuation designee, effective September 8, 2022, to make all fair value determinations with respect to the fund’s portfolio investments, subject to the Board’s oversight and pursuant to Rule 2a-5 under the Act.


Investments in municipal securities are valued each business day by an independent pricing service (the “Service”) approved by 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). Municipal 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. The Service is engaged under the general oversight of the Board. All of the preceding securities are generally categorized within Level 2 of the fair value hierarchy.

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 December 31, 2022, accumulated net unrealized depreciation on investments was $10,436,835, consisting of $2,610,900 gross unrealized appreciation and $13,047,735 gross unrealized depreciation.

At December 31, 2022, 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.