-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VDRdbtBSC6MtQl1K5b4M5p5dcnPZg55s9L13kjKjVaYrgj/121yBqOaDCk4WO1x6 ZCRlGR8KAISy4BebF+qOGQ== 0001193805-06-001621.txt : 20060627 0001193805-06-001621.hdr.sgml : 20060627 20060627125757 ACCESSION NUMBER: 0001193805-06-001621 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060430 FILED AS OF DATE: 20060627 DATE AS OF CHANGE: 20060627 EFFECTIVENESS DATE: 20060627 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MUNIENHANCED FUND INC CENTRAL INDEX KEY: 0000844172 IRS NUMBER: 222946695 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-05739 FILM NUMBER: 06926490 BUSINESS ADDRESS: STREET 1: P O BOX 9011 CITY: PRINCETON STATE: NJ ZIP: 08543 BUSINESS PHONE: 6092823319 N-Q 1 e600717_nq-munienh.txt 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 811-5739 Name of Fund: MuniEnhanced Fund, Inc. Fund Address: P.O. Box 9011 Princeton, NJ 08543-9011 Name and address of agent for service: Robert C. Doll, Jr., Chief Executive Officer, MuniEnhanced Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ 08536. Mailing address: P.O. Box 9011, Princeton, NJ 08543-9011 Registrant's telephone number, including area code: (609) 282-2800 Date of fiscal year end: 01/31/2007 Date of reporting period: 02/01/06 - 04/30/06 Item 1 - Schedule of Investments MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2006 (in Thousands)
Face State Amount Municipal Bonds Value - ----------------------------------------------------------------------------------------------------------------------------------- Alabama - 0.9% $ 2,750 Jefferson County, Alabama, Limited Obligation School Warrants, Series A, 5.50% due 1/01/2022 $ 2,936 - ----------------------------------------------------------------------------------------------------------------------------------- Arizona - 0.5% 1,750 Downtown Phoenix Hotel Corporation, Arizona, Revenue Bonds, Sub-Series B, 5% due 7/01/2036 (b) 1,790 - ----------------------------------------------------------------------------------------------------------------------------------- California - 26.6% 10,000 Alameda Corridor Transportation Authority, California, Capital Appreciation Revenue Refunding Bonds, Subordinate Lien, Series A, 5.464% due 10/01/2024 (a)(m) 7,624 6,000 Alameda Corridor Transportation Authority, California, Capital Appreciation Revenue Refunding Bonds, Subordinate Lien, Series A, 5.495% due 10/01/2025 (a)(m) 4,570 950 Anaheim, California, Public Financing Authority, Electric System Distribution Facilities Revenue Bonds, Series A, 5% due 10/01/2031 (d) 973 5,000 Anaheim, California, Public Financing Authority, Lease Revenue Bonds (Public Improvements Project), Senior-Series A, 6% due 9/01/2024 (d) 5,873 2,600 California State University, Systemwide Revenue Bonds, Series A, 5% due 11/01/2035 (b) 2,666 3,000 California State, GO, 5% due 8/01/2035 3,044 2,350 California State, GO, Refunding, 5.25% due 9/01/2010 (g) 2,486 5,000 California State, GO, Refunding, 5.125% due 6/01/2031 5,096 2,200 California State, GO, Refunding, ROLS, Series II-R-272, 6.566% due 2/01/2033 (i)(j) 2,388 8,490 California State, Various Purpose, GO, 5.50% due 11/01/2033 9,134 1,550 California State, Various Purpose, GO, Refunding, 5% due 12/01/2031 (f) 1,594 850 Chino Valley, California, Unified School District, GO (Election of 2002), Series C, 5.25% due 8/01/2030 (f) 905 2,835 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement Revenue Bonds, Series B, 5.50% due 6/01/2013 (c)(g) 3,097 3,000 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement Revenue Bonds, Series B, 5.625% due 6/01/2013 (g)(k) 3,300 5,300 Los Angeles, California, Department of Water and Power, Waterworks Revenue Bonds, Series C, 5% due 7/01/2029 (f) 5,465 5,950 Los Angeles, California, Unified School District, GO, Series A, 5% due 1/01/2028 (f) 6,150 2,965 Metropolitan Water District of Southern California, Waterworks Revenue Bonds, Series B-1, 5% due 10/01/2029 (b) 3,056 5,000 Norco, California, Redevelopment Agency, Tax Allocation Refunding Bonds (Norco Redevelopment Project - Area Number 1), 5.125% due 3/01/2030 (f) 5,155 1,750 Poway, California, Redevelopment Agency, Tax Allocation Refunding Bonds (Paguay Redevelopment Project), 5.125% due 6/15/2033 (a) 1,802 1,000 San Diego, California, Community College District, GO (Election of 2002), 5% due 5/01/2030 (d) 1,034 6,145 Stockton, California, Public Financing Authority, Lease Revenue Bonds (Parking & Capital Projects), 5.125% due 9/01/2030 (b) 6,366 1,600 Tamalpais, California, Union High School District, GO (Election of 2001), 5% due 8/01/2028 (d) 1,647 1,200 University of California, Limited Project Revenue Bonds, Series B, 5% due 5/15/2033 (d) 1,238 1,550 University of California Revenue Bonds (Multiple Purpose Projects), Series Q, 5% due 9/01/2034 (d) 1,594 2,325 Ventura County, California, Community College District, GO (Election of 2002), Series B, 5% due 8/01/2030 (f) 2,405 - ----------------------------------------------------------------------------------------------------------------------------------- Colorado - 8.3% 2,135 Boulder County, Colorado, Hospital Development Revenue Bonds (Longmont United Hospital Project), 5.75% due 12/01/2020 (i) 2,263 110 Colorado HFA Revenue Bonds (S/F Program), AMT, Senior Series A-1, 7.40% due 11/01/2027 113 735 Colorado HFA, Revenue Refunding Bonds (S/F Program), AMT, Senior Series A-2, 7.50% due 4/01/2031 762 1,200 Colorado Health Facilities Authority Revenue Bonds (Catholic Health Initiatives), Series A, 5.50% due 3/01/2032 (h) 1,290 1,200 Colorado Health Facilities Authority Revenue Bonds (Covenant Retirement Communities Inc.), Series A, 5.50% due 12/01/2027 (i) 1,262 - -----------------------------------------------------------------------------------------------------------------------------------
Portfolio Abbreviations To simplify the listings of MuniEnhanced Fund, Inc.'s portfolio holdings in the Schedule of Investments, we have abbreviated the names of many of the securities according to the list below. AMT Alternative Minimum Tax (subject to) COP Certificates of Participation DRIVERS Derivative Inverse Tax-Exempt Receipts EDA Economic Development Authority GO General Obligation Bonds HDA Housing Development Authority HFA Housing Finance Agency IDA Industrial Development Authority RIB Residual Interest Bonds RITR Residual Interest Trust Receipts ROLS Reset Option Long Securities S/F Single-Family MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2006 (in Thousands)
Face State Amount Municipal Bonds Value - ----------------------------------------------------------------------------------------------------------------------------------- $ 675 Colorado Health Facilities Authority Revenue Bonds (Covenant Retirement Communities Inc.), Series A, 5.50% due 12/01/2033 (i) $ 706 3,875 Colorado Water Resources and Power Development Authority, Clean Water Revenue Bonds, Series A, 6.25% due 9/01/2010 (g) 4,260 2,000 Denver, Colorado, City and County Airport, Revenue Refunding Bonds, AMT, Series A, 6% due 11/15/2018 (a) 2,143 5,450 El Paso County, Colorado, School District Number 49, Falcon, GO, Series A, 6% due 12/01/2018 (d) 6,069 7,900 Northwest Parkway, Colorado, Public Highway Authority, Capital Appreciation Revenue Bonds, Senior Convertible, Series C, 5.345% due 6/15/2021 (d)(m) 6,744 1,900 Northwest Parkway, Colorado, Public Highway Authority Revenue Bonds, Series A, 5.50% due 6/15/2021 (a) 2,045 - ----------------------------------------------------------------------------------------------------------------------------------- Florida - 1.8% 4,200 Orange County, Florida, Sales Tax Revenue Refunding Bonds, Series B, 5.125% due 1/01/2032 (b) 4,343 1,550 Pasco County, Florida, School Board, COP, Series A, 5% due 8/01/2030 (a) 1,594 - ----------------------------------------------------------------------------------------------------------------------------------- Georgia - 11.8% 18,655 Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series B, 5.25% due 1/01/2033 (d) 19,589 3,100 Atlanta, Georgia, Water and Wastewater Revenue Bonds, 5% due 11/01/2034 (d) 3,176 2,610 Augusta, Georgia, Water and Sewer Revenue Bonds, 5.25% due 10/01/2039 (d) 2,746 3,500 Fulton County, Georgia, Water and Sewer Revenue Bonds, 5.25% due 1/01/2035 (b) 3,682 7,725 Georgia Municipal Electric Authority, Power Revenue Refunding Bonds, Series EE, 7% due 1/01/2025 (a) 10,135 - ----------------------------------------------------------------------------------------------------------------------------------- Illinois - 21.2% 5,125 Chicago, Illinois, Board of Education, GO, RIB, Series 467, 7.43% due 12/01/2027 (a)(j) 5,643 2,700 Chicago, Illinois, O'Hare International Airport, General Revenue Bonds, Third Lien, Series A, 5.25% due 1/01/2026 (f) 2,866 3,300 Chicago, Illinois, O'Hare International Airport, General Revenue Bonds, Third Lien, Series A, 5% due 1/01/2033 (b) 3,394 5,670 Chicago, Illinois, O'Hare International Airport Revenue Bonds, Third Lien, AMT, Series B-2, 5.75% due 1/01/2023 (d) 6,164 2,500 Chicago, Illinois, O'Hare International Airport Revenue Bonds, Third Lien, AMT, Series B-2, 6% due 1/01/2029 (c) 2,755 4,550 Chicago, Illinois, O'Hare International Airport, Revenue Refunding Bonds, DRIVERS, AMT, Series 250, 7.343% due 1/01/2021 (f)(j) 5,146 2,460 Cook County, Illinois, Capital Improvement, GO, Series C, 5.50% due 11/15/2012 (a)(g) 2,686 2,240 Cook County, Illinois, Community College District Number 508, Chicago, COP, Refunding, 8.75% due 1/01/2007 (b) 2,313 3,000 Illinois Health Facilities Authority, Revenue Refunding Bonds (Servantcor Project), Series A, 6.375% due 8/15/2006 (d)(g) 3,023 20,120 Illinois Sports Facilities Authority, State Tax Supported Revenue Bonds, 5.341% due 6/15/2010 (a)(m) 17,437 4,500 Illinois Sports Facilities Authority, State Tax Supported Revenue Bonds, 5% due 6/15/2032 (a) 4,605 2,000 Metropolitan Pier and Exposition Authority, Illinois, Dedicated State Tax Revenue Refunding Bonds (McCormick Place Expansion Project), Series B, 5.75% due 6/15/2023 (f) 2,185 10,115 Regional Transportation Authority, Illinois, Revenue Bonds, Series A, 7.20% due 11/01/2020 (a) 12,347 - ----------------------------------------------------------------------------------------------------------------------------------- Indiana - 4.5% 4,080 Hammond, Indiana, Multi-School Building Corporation, First Mortgage Revenue Refunding Bonds, 6.125% due 7/15/2019 (f) 4,232 2,150 Indiana Transportation Finance Authority, Highway Revenue Bonds, Series A, 5% due 6/01/2028 (d) 2,204 4,250 Indiana Transportation Finance Authority, Highway Revenue Bonds, Series A, 5.25% due 6/01/2028 (b) 4,488 3,750 Indiana Transportation Finance Authority, Highway Revenue Bonds, Series A, 5.25% due 6/01/2029 (b) 3,957 - ----------------------------------------------------------------------------------------------------------------------------------- Louisiana - 6.4% 4,500 Lafayette, Louisiana, Utilities Revenue Bonds, 5% due 11/01/2028 (f) 4,632 6,000 Louisiana Local Government, Environmental Facilities, Community Development Authority Revenue Bonds (Capital Projects and Equipment Acquisition), Series A, 6.30% due 7/01/2030 (a) 6,645 2,035 Louisiana State Citizens Property Insurance Corporation, Assessment Revenue Bonds, Series B, 5% due 6/01/2023 (a) 2,112 3,735 Louisiana State Transportation Authority, Senior Lien Toll Revenue Capital Appreciation Bonds, Series B, 5.31% due 12/01/2027 (a)(m) 1,208 5,150 New Orleans, Louisiana, Ernest N. Morial Exhibit Hall Authority, Special Tax, Sub-Series A, 5.25% due 7/15/2028 (a) 5,299 1,400 Terrebonne Parish, Louisiana, Hospital Service District Number 1, Hospital Revenue Bonds (Terrebonne General Medical Center Project), 5.50% due 4/01/2033 (a) 1,499 - ----------------------------------------------------------------------------------------------------------------------------------- Massachusetts - 11.7% 1,625 Massachusetts Bay Transportation Authority, Sales Tax Revenue Refunding Bonds, Senior Series A, 5% due 7/01/2035 1,663 2,000 Massachusetts Bay Transportation Authority, Special Assessment Revenue Refunding Bonds, Series A, 5% due 7/01/2031 2,064 2,500 Massachusetts State, Consolidated Loan, GO, Series C, 5% due 9/01/2025 2,594 2,800 Massachusetts State, HFA, Housing Revenue Bonds, DRIVERS, AMT, Series 982, 6.358% due 1/01/2011 (d)(j) 2,890 4,985 Massachusetts State Port Authority, Special Facilities Revenue Bonds, DRIVERS, AMT, Series 501, 6.838% due 7/01/2009 (a)(j) 5,414 7,250 Massachusetts State School Building Authority, Dedicated Sales Tax Revenue Bonds, Series A, 5% due 8/15/2030 (d) 7,511
MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2006 (in Thousands)
Face State Amount Municipal Bonds Value - ----------------------------------------------------------------------------------------------------------------------------------- $ 1,800 Massachusetts State Special Obligation Dedicated Tax Revenue Bonds, 5.25% due 1/01/2014 (b)(g) $ 1,930 10,000 Massachusetts State Special Obligation Dedicated Tax Revenue Bonds, 5.25% due 1/01/2014 (b)(g) 10,723 950 Massachusetts State Water Resource Authority, General Revenue Refunding Bonds, Series B, 5.125% due 8/01/2027 (f) 986 3,100 University of Massachusetts Building Authority, Facilities Revenue Bonds, Senior Series 4-A, 5.125% due 11/01/2014 (f)(g) 3,328 - ----------------------------------------------------------------------------------------------------------------------------------- Michigan - 5.0% 6,200 Detroit, Michigan, Water Supply System Revenue Bonds, Series B, 5.25% due 7/01/2032 (f) 6,509 1,700 Michigan Higher Education Student Loan Authority, Student Loan Revenue Refunding Bonds, AMT, Series XVII-G, 5.20% due 9/01/2020 (a) 1,754 1,300 Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Detroit Edison Company Project), AMT, Series A, 5.50% due 6/01/2030 (c) 1,374 2,500 Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Detroit Edison Company Project), AMT, Series C, 5.65% due 9/01/2029 (c) 2,631 4,300 Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Detroit Edison Company Project), AMT, Series C, 5.45% due 12/15/2032 (c) 4,499 - ----------------------------------------------------------------------------------------------------------------------------------- Mississippi - 0.8% 2,400 Walnut Grove, Mississippi, Correctional Authority, COP, 6% due 11/01/2009 (a)(g) 2,615 - ----------------------------------------------------------------------------------------------------------------------------------- Nebraska - 0.5% 1,700 Washington County, Nebraska, Wastewater Facilities Revenue Bonds (Cargill Inc. Project), AMT, 5.90% due 11/01/2027 1,822 - ----------------------------------------------------------------------------------------------------------------------------------- Nevada - 6.1% 3,100 Carson City, Nevada, Hospital Revenue Bonds (Carson-Tahoe Hospital Project), Series A, 5.50% due 9/01/2033 (i) 3,258 1,500 Clark County, Nevada, Airport System Subordinate Lien Revenue Bonds, Series A-2, 5% due 7/01/2030 (b) 1,533 3,200 Clark County, Nevada, Airport System Subordinate Lien Revenue Bonds, Series A-2, 5% due 7/01/2036 (b) 3,260 9,000 Washoe County, Nevada, Gas and Water Facilities, Revenue Refunding Bonds (Sierra Pacific Power Company), 6.30% due 12/01/2014 (a) 9,216 3,000 Washoe County, Nevada, Water Facility Revenue Bonds (Sierra Pacific Power Company), AMT, 6.65% due 6/01/2017 (f) 3,106 - ----------------------------------------------------------------------------------------------------------------------------------- New Hampshire - 2.4% 7,390 New Hampshire Health and Education Facilities Authority Revenue Bonds (Dartmouth-Hitchcock Obligation Group), 5.50% due 8/01/2027 (d) 7,927 - ----------------------------------------------------------------------------------------------------------------------------------- New Jersey - 10.4% 700 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2031 725 1,165 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75% due 6/15/2034 1,224 2,600 New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5% due 7/01/2029 (f) 2,681 9,325 New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5.25% due 7/01/2031 (f) 9,877 5,200 New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5.25% due 7/01/2033 (f) 5,504 7,625 New Jersey EDA, Revenue Bonds, ROLS, Series II-R-309-1, 7.073% due 6/15/2024 (e)(j) 8,567 2,500 New Jersey EDA, Revenue Bonds, ROLS, Series II-R-309-2, 7.073% due 6/15/2031 (e)(j) 2,820 3,100 New Jersey EDA, School Facilities Construction Revenue Bonds, Series O, 5.125% due 3/01/2028 3,217 - ----------------------------------------------------------------------------------------------------------------------------------- New York - 6.3% 2,250 Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series A, 5% due 11/15/2032 (b) 2,311 2,325 New York City, New York, City Municipal Water Finance Authority, Water and Sewer System, Revenue Refunding Bonds, Series A, 5% due 6/15/2035 (f) 2,382 6,960 New York City, New York, GO, DRIVERS, Series 356, 6.867% due 6/01/2011 (c)(j) 8,056 7,650 Tobacco Settlement Financing Corporation of New York Revenue Bonds, Series A-1, 5.25% due 6/01/2022 (a) 8,071 - ----------------------------------------------------------------------------------------------------------------------------------- Pennsylvania - 5.3% 10,575 Pennsylvania State Public School Building Authority, School Lease Revenue Bonds (The School District of Philadelphia Project), 5% due 6/01/2033 (d) 10,815 6,500 Philadelphia, Pennsylvania, Authority for Industrial Development, Lease Revenue Bonds, Series B, 5.50% due 10/01/2020 (d) 6,989 - ----------------------------------------------------------------------------------------------------------------------------------- Rhode Island - 2.6% 4,345 Providence, Rhode Island, Public Building Authority, General Revenue Bonds, Series A, 6.25% due 12/15/2020 (d) 4,810 3,355 Rhode Island State Economic Development Corporation, Airport Revenue Bonds, Series B, 6.50% due 7/01/2010 (b)(g) 3,737 - ----------------------------------------------------------------------------------------------------------------------------------- South Carolina - 1.1% 1,560 Charleston Educational Excellence Financing Corporation, South Carolina, Revenue Bonds, ROLS, Series II-R-481X-1, 6.586% due 12/01/2028 (e)(j) 1,728 1,383 Charleston Educational Excellence Financing Corporation, South Carolina, Revenue Bonds, ROLS, Series II-R-481X-2, 6.586% due 12/01/2029 (e)(j) 1,529 505 Charleston Educational Excellence Financing Corporation, South Carolina, Revenue Bonds, ROLS, Series II-R-481X-3, 6.586% due 12/01/2030 (e)(j) 558 - ----------------------------------------------------------------------------------------------------------------------------------- South Dakota - 2.2% 7,000 South Dakota State Health and Educational Facilities Authority, Revenue Refunding Bonds, Series A, 7.625% due 1/01/2008 (f)(g) 7,378 - ----------------------------------------------------------------------------------------------------------------------------------- Tennessee - 0.7% 2,280 Tennessee HDA, Revenue Refunding Bonds (Homeownership Program), AMT, Series 1, 5.95% due 7/01/2012 (f) 2,321 - ----------------------------------------------------------------------------------------------------------------------------------- Texas - 10.9% 1,615 Bexar, Texas, Metropolitan Water District, Waterworks System Revenue Refunding Bonds, 6.35% due 5/01/2025 (f) 1,634 2,000 Dallas-Fort Worth, Texas, International Airport Revenue Bonds, DRIVERS, AMT, Series 202, 7.843% due 11/01/2028 (b)(j) 2,234 7,250 Dallas-Fort Worth, Texas, International Airport Revenue Bonds, DRIVERS, AMT, Series 353, 6.838% due 5/01/2011 (f)(j) 8,071
MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2006 (in Thousands)
Face State Amount Municipal Bonds Value - ----------------------------------------------------------------------------------------------------------------------------------- $ 9,345 Leander, Texas, Independent School District, Capital Appreciation, GO, Refunding (School Building), 5.84% due 8/15/2029 (b)(m) $ 2,719 5,820 North Harris County, Texas, Regional Water Authority, Senior Lien Revenue Bonds, 5.125% due 12/15/2035 (f) 6,016 2,700 Texas State Transportation Commission, GO (Mobility Fund), Series A, 5% due 4/01/2028 2,782 6,250 Texas State Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier, Series A, 5.50% due 8/15/2039 (a) 6,703 5,200 Travis County, Texas, Health Facilities Development Corporation, Revenue Refunding Bonds, RITR, Series 4, 7.635% due 11/15/2024 (a)(j) 5,997 - ----------------------------------------------------------------------------------------------------------------------------------- Virginia - 4.0% 10,000 Fairfax County, Virginia, EDA, Resource Recovery Revenue Refunding Bonds, AMT, Series A, 6.10% due 2/01/2010 (a) 10,721 2,300 Halifax County, Virginia, IDA, Exempt Facility Revenue Refunding Bonds (Old Dominion Electric Cooperative Project), AMT, 5.625% due 6/01/2028 (a) 2,474 - ----------------------------------------------------------------------------------------------------------------------------------- Washington - 1.7% 3,600 Seattle, Washington, Municipal Light and Power Revenue Refunding Bonds, 5% due 11/01/2028 (d) 3,693 2,000 Snohomish County, Washington, Public Utility District Number 001, Electric Revenue Refunding Bonds, 5.375% due 12/01/2009 (d)(g) 2,125 - ----------------------------------------------------------------------------------------------------------------------------------- Total Municipal Bonds (Cost - $492,717) - 153.7% 512,226 - ----------------------------------------------------------------------------------------------------------------------------------- Shares Held Short-Term Securities - ----------------------------------------------------------------------------------------------------------------------------------- 2,900 Merrill Lynch Institutional Tax-Exempt Fund, 3.49% (l)(n) 2,900 - ----------------------------------------------------------------------------------------------------------------------------------- Total Short-Term Securities (Cost - $2,900) - 0.9% 2,900 - ----------------------------------------------------------------------------------------------------------------------------------- Total Investments (Cost - $495,617*) - 154.6% 515,126 Other Assets Less Liabilities - 1.6% 5,338 Preferred Stock, at Redemption Value - (56.2%) (187,215) ----------- Net Assets Applicable to Common Stock - 100.0% $ 333,249 ===========
* The cost and unrealized appreciation (depreciation) of investments as of April 30, 2006, as computed for federal income tax purposes, were as follows: Aggregate cost $ 495,617 ========= Gross unrealized appreciation $ 20,289 Gross unrealized depreciation (780) --------- Net unrealized appreciation $ 19,509 ========= (a) AMBAC Insured. (b) FGIC Insured. (c) XL Capital Insured. (d) FSA Insured. (e) Assured Guaranty Insured. (f) MBIA Insured. (g) Prerefunded. (h) Escrowed to maturity. (i) Radian Insured. (j) The rate disclosed is that currently in effect. This rate changes periodically and inversely based upon prevailing market rates. (k) CIFG Insured. (l) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:
---------------------------------------------------------------------------------- Affiliate Net Activity Dividend Income ---------------------------------------------------------------------------------- Merrill Lynch Institutional Tax-Exempt Fund 695 $21 ----------------------------------------------------------------------------------
(m) Represents a zero coupon or step bond; the interest rate shown is the effective yield at the time of purchase. (n) Reflects the effective yield as of 4/30/2006. MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2006 (in Thousands) o Forward interest rate swaps outstanding as of April 30, 2006 were as follows:
----------------------------------------------------------------------------------------------------- Unrealized Notional Amount Appreciation ----------------------------------------------------------------------------------------------------- Pay a fixed rate of 3.844% and receive a floating rate based on 1-week Bond Market Association rate Broker, JPMorgan Chase Bank Expires May 2016 $ 35,000 $ 555 Pay a fixed rate of 4.034% and receive a floating rate based on 1-week Bond Market Association rate Broker, JPMorgan Chase Bank Expires July 2016 $ 15,000 38 ----------------------------------------------------------------------------------------------------- Total $ 593 ============
Item 2 - Controls and Procedures 2(a) - The registrant's certifying officers have reasonably designed such disclosure controls and procedures to ensure material information relating to the registrant is made known to us by others particularly during the period in which this report is being prepared. The registrant's certifying officers have determined that the registrant's disclosure controls and procedures are effective based on our evaluation of these controls and procedures as of a date within 90 days prior to the filing date of this report. 2(b) - There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the last fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 3 - Exhibits Certifications - Attached hereto 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. MuniEnhanced Fund, Inc. By: /s/ Robert C. Doll, Jr. ---------------------------- Robert C. Doll, Jr. Chief Executive Officer MuniEnhanced Fund, Inc. Date: June 22, 2006 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/ Robert C. Doll, Jr. ---------------------------- Robert C. Doll, Jr. Chief Executive Officer MuniEnhanced Fund, Inc. Date: June 22, 2006 By: /s/ Donald C. Burke ---------------------------- Donald C. Burke Chief Financial Officer MuniEnhanced Fund, Inc. Date: June 22, 2006 EX-99.CERT 2 e600717_ex99-cert.txt CERTIFICATION PURSUANT TO SECTION 302 EX-99. CERT CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - -------------------------------------------------------------------------------- I, Robert C. Doll, Jr., Chief Executive Officer of MuniEnhanced Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of MuniEnhanced Fund, Inc.; 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 most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 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. Date: June 22, 2006 /s/ Robert C. Doll, Jr. ------------------------- Robert C. Doll, Jr. Chief Executive Officer MuniEnhanced Fund, Inc. EX-99. CERT CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - -------------------------------------------------------------------------------- I, Donald C. Burke, Chief Financial Officer of MuniEnhanced Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of MuniEnhanced Fund, Inc.; 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 most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 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. Date: June 22, 2006 /s/ Donald C. Burke ------------------------- Donald C. Burke Chief Financial Officer MuniEnhanced Fund, Inc. -----END PRIVACY-ENHANCED MESSAGE-----