-----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, Fe+gHu0EtMZvKrV4IK9Y2EWLlLWKBfVLizgL6/qOE0xJpJmlHvVLNEG1eFS0Qvcz 9z87AJdwwVcCbGOxQ/FZxw== 0001193805-07-001739.txt : 20070627 0001193805-07-001739.hdr.sgml : 20070627 20070627135133 ACCESSION NUMBER: 0001193805-07-001739 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070430 FILED AS OF DATE: 20070627 DATE AS OF CHANGE: 20070627 EFFECTIVENESS DATE: 20070627 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK MUNI ENHANCED 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: 07943315 BUSINESS ADDRESS: STREET 1: 800 SCUDDERS MILL ROAD CITY: PLAINSBORO STATE: NJ ZIP: 08536 BUSINESS PHONE: 6092822116 MAIL ADDRESS: STREET 1: 800 SCUDDERS MILL ROAD CITY: PLAINSBORO STATE: NJ ZIP: 08536 FORMER COMPANY: FORMER CONFORMED NAME: MUNIENHANCED FUND INC DATE OF NAME CHANGE: 19920703 N-Q 1 e602306_nq-munienhanced.txt FORM N-Q 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: BlackRock 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, BlackRock 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: 02/01/07 - 04/30/07 Item 1 - Schedule of Investments BlackRock MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2007 (in Thousands)
Face State Amount Municipal Bonds Value - -------------------------------------------------------------------------------------------------------------------------------- Alabama - 1.5% $ 2,750 Jefferson County, Alabama, Limited Obligation School Warrants, Series A, 5.50% due 1/01/2022 $ 2,983 2,200 Jefferson County, Alabama, Limited Obligation School Warrants, Series A, 4.75% due 1/01/2025 2,240 - -------------------------------------------------------------------------------------------------------------------------------- California - 27.9% 10,000 Alameda Corridor Transportation Authority, California, Capital Appreciation Revenue Refunding Bonds, Subordinate Lien, Series A, 5.464% due 10/01/2024 (a)(m) 8,274 6,000 Alameda Corridor Transportation Authority, California, Capital Appreciation Revenue Refunding Bonds, Subordinate Lien, Series A, 5.495% due 10/01/2025 (a)(m) 4,965 950 Anaheim, California, Public Financing Authority, Electric System Distribution Facilities Revenue Bonds, Series A, 5% due 10/01/2031 (d) 992 5,000 Anaheim, California, Public Financing Authority, Lease Revenue Bonds (Public Improvements Project), Senior-Series A, 6% due 9/01/2024 (d) 6,058 1,600 Arcadia, California, Unified School District, Capital Appreciation, GO (Election of 2006), Series A, 4.96% due 8/01/2039 (d)(m) 334 2,350 California State, GO, Refunding, 5.25% due 9/01/2010 (g) 2,469 1,700 California State, GO, Refunding, 5.125% due 6/01/2027 1,778 5,000 California State, GO, Refunding, 5.125% due 6/01/2031 5,229 1,900 California State Public Works Board, Lease Revenue Bonds (Department of Corrections), Series C, 5% due 6/01/2025 1,979 2,600 California State University, Systemwide Revenue Bonds, Series A, 5% due 11/01/2035 (b) 2,715 8,490 California State, Various Purposes, GO, 5.50% due 11/01/2033 9,233 2,750 Chabot-Las Positas, California, Community College District, GO (Election of 2004), Series B, 4.812% due 8/01/2025 (a)(m) 1,161 850 Chino Valley, California, Unified School District, GO (Election of 2002), Series C, 5.25% due 8/01/2030 (f) 920 1,600 East Side Union High School District, California, Santa Clara County, GO (Election of 2002), Series D, 5% due 8/01/2026 (c) 1,693 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) 3,298 5,300 Los Angeles, California, Department of Water and Power, Waterworks Revenue Bonds, Series C, 5% due 7/01/2029 (f) 5,580
Portfolio Abbreviations To simplify the listings of BlackRock 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 EDA Economic Development Authority GO General Obligation Bonds HDA Housing Development Authority HFA Housing Finance Agency IDA Individual Development Authority IDR Industrial Development Revenue Bonds S/F Single-Family BlackRock MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2007 (in Thousands)
Face State Amount Municipal Bonds Value - -------------------------------------------------------------------------------------------------------------------------------- $ 2,965 Metropolitan Water District of Southern California, Waterworks Revenue Bonds, Series B-1, 5% due 10/01/2029 (b) $ 3,107 1,655 Metropolitan Water District of Southern California, Waterworks Revenue Bonds, Series B-1, 5% due 10/01/2036 (b) 1,733 5,000 Norco, California, Redevelopment Agency, Tax Allocation Refunding Bonds (Norco Redevelopment Project - Area Number 1), 5.125% due 3/01/2030 (f) 5,240 7,455 Orange County, California, Sanitation District, COP, 5% due 2/01/2033 (b) 7,771 1,750 Poway, California, Redevelopment Agency, Tax Allocation Refunding Bonds (Paguay Redevelopment Project), 5.125% due 6/15/2033 (a) 1,830 3,850 Sacramento, California, Unified School District, GO (Election of 2002), 5% due 7/01/2030 (f) 4,077 1,250 San Mateo, California, Union High School District, COP (Phase One Projects), Series B, 4.758% due 12/15/2043 (a)(m) 707 6,145 Stockton, California, Public Financing Authority, Lease Revenue Bonds (Parking & Capital Projects), 5.125% due 9/01/2030 (b) 6,488 1,600 Tamalpais, California, Union High School District, GO (Election of 2001), 5% due 8/01/2028 (d) 1,673 2,325 Ventura County, California, Community College District, GO (Election of 2002), Series B, 5% due 8/01/2030 (f) 2,462 - -------------------------------------------------------------------------------------------------------------------------------- Colorado - 8.2% 2,135 Boulder County, Colorado, Hospital Development Revenue Bonds (Longmont United Hospital Project), 5.75% due 12/01/2010 (g)(i) 2,275 55 Colorado HFA, Revenue Bonds (S/F Program), AMT, Senior Series A-1, 7.40% due 11/01/2027 55 560 Colorado HFA, Revenue Refunding Bonds (S/F Program), AMT, Senior Series A-2, 7.50% due 4/01/2031 564 1,200 Colorado Health Facilities Authority Revenue Bonds (Catholic Health Initiatives), Series A, 5.50% due 3/01/2032 (h) 1,288 1,200 Colorado Health Facilities Authority Revenue Bonds (Covenant Retirement Communities, Inc.), Series A, 5.50% due 12/01/2027 (i) 1,280 675 Colorado Health Facilities Authority Revenue Bonds (Covenant Retirement Communities, Inc.), Series A, 5.50% due 12/01/2033 (i) 717 3,875 Colorado Water Resources and Power Development Authority, Clean Water Revenue Bonds, Series A, 6.25% due 9/01/2010 (g) 4,185 2,000 Denver, Colorado, City and County Airport Revenue Refunding Bonds, AMT, Series A, 6% due 11/15/2018 (a) 2,128 5,450 El Paso County, Colorado, School District Number 49, Falcon, GO, Series A, 6% due 12/01/2009 (d)(g) 6,008 7,900 Northwest Parkway, Colorado, Public Highway Authority, Capital Appreciation Revenue Bonds, Senior Convertible, Series C, 5.345% due 6/15/2011 (d)(m) 7,252 1,900 Northwest Parkway, Colorado, Public Highway Authority Revenue Bonds, Series A, 5.50% due 6/15/2021 (a) 2,048 - -------------------------------------------------------------------------------------------------------------------------------- Florida - 2.3% 1,400 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Adventist Health System), Series C, 5.25% due 11/15/2036 1,465
BlackRock MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2007 (in Thousands)
Face State Amount Municipal Bonds Value - -------------------------------------------------------------------------------------------------------------------------------- $ 2,000 Highlands County Florida Health Facilities Authority Hospital Revenue Refunding Bonds (Adventist Health System), Series G, 5.125% due 11/15/2032 $ 2,069 4,200 Orange County, Florida, Sales Tax Revenue Refunding Bonds, Series B, 5.125% due 1/01/2032 (b) 4,411 - -------------------------------------------------------------------------------------------------------------------------------- Georgia - 12.5% 17,355 Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series B, 5.25% due 1/01/2033 (d) 18,583 2,900 Atlanta, Georgia, Water and Wastewater Revenue Bonds, 5% due 11/01/2034 (d) 3,048 1,000 Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series A, 5% due 11/01/2033 (f) 1,039 4,250 Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series A, 5% due 11/01/2039 (f) 4,418 2,300 Augusta, Georgia, Water and Sewer Revenue Bonds, 5.25% due 10/01/2039 (d) 2,469 2,500 Fulton County, Georgia, Water and Sewer Revenue Bonds, 5.25% due 1/01/2035 (b) 2,675 7,725 Georgia Municipal Electric Authority, Power Revenue Refunding Bonds, Series EE, 7% due 1/01/2025 (a) 10,439 - -------------------------------------------------------------------------------------------------------------------------------- Illinois - 14.7% 5,670 Chicago, Illinois, O'Hare International Airport Revenue Bonds, Third Lien, AMT, Series B-2, 5.75% due 1/01/2023 (d) 6,225 2,500 Chicago, Illinois, O'Hare International Airport Revenue Bonds, Third Lien, AMT, Series B-2, 6% due 1/01/2029 (c) 2,799 2,460 Cook County, Illinois, Capital Improvement, GO, Series C, 5.50% due 11/15/2012 (a)(g) 2,680 20,120 Illinois Sports Facilities Authority, State Tax Supported Revenue Bonds, 5.341% due 6/15/2030 (a)(m) 18,867 4,500 Illinois Sports Facilities Authority, State Tax Supported Revenue Bonds, 5% due 6/15/2032 (a) 4,688 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) 12,470 - -------------------------------------------------------------------------------------------------------------------------------- Indiana - 3.8% 4,080 Hammond, Indiana, Multi-School Building Corporation, First Mortgage Revenue Refunding Bonds, 6.125% due 7/15/2019 (f) 4,140 8,000 Indiana Transportation Finance Authority, Highway Revenue Bonds, Series A, 5.25% due 6/01/2014 (b)(g) 8,730 - -------------------------------------------------------------------------------------------------------------------------------- Louisiana - 8.1% 4,500 Lafayette, Louisiana, Utilities Revenue Bonds, 5% due 11/01/2028 (f) 4,741 3,600 Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds (Capital Projects and Equipment Acquisition), Series A, 6.30% due 7/01/2030 (a) 4,311 2,035 Louisiana State Citizens Property Insurance Corporation, Assessment Revenue Bonds, Series B, 5% due 6/01/2023 (a) 2,155 4,950 Louisiana State, Gas and Fuels Tax Revenue Bonds, Series A, 4.75% due 5/01/2039 (d) 5,070 3,735 Louisiana State Transportation Authority, Senior Lien Toll Revenue Capital Appreciation Bonds, Series B, 5.31% due 12/01/2027 (a)(m) 1,302 4,650 New Orleans, Louisiana, Ernest N. Morial Exhibit Hall Authority, Special Tax, Sub-Series A, 5.25% due 7/15/2028 (a) 4,951 3,650 Rapides Financing Authority, Louisiana, Revenue Bonds (Cleco Power LLC Project), AMT, 4.70% due 11/01/2036 (a) 3,668 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) 1,515 - --------------------------------------------------------------------------------------------------------------------------------
BlackRock MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2007 (in Thousands)
Face State Amount Municipal Bonds Value - -------------------------------------------------------------------------------------------------------------------------------- Massachusetts - 8.4% $ 1,600 Massachusetts State, HFA, S/F Housing Revenue Bonds, AMT, Series 128, 4.80% due 12/01/2027 (d) $ 1,608 8,800 Massachusetts State School Building Authority, Dedicated Sales Tax Revenue Bonds, Series A, 5% due 8/15/2030 (a)(d) 9,307 4,350 Massachusetts State School Building Authority, Dedicated Sales Tax Revenue Bonds, Series A, 4.75% due 8/15/2032 (d) 4,500 11,300 Massachusetts State Special Obligation Dedicated Tax Revenue Bonds, 5.25% due 1/01/2014 (b)(g) 12,271 950 Massachusetts State Water Resource Authority, General Revenue Refunding Bonds, Series B, 5.125% due 8/01/2027 (f) 999 - -------------------------------------------------------------------------------------------------------------------------------- Michigan - 3.6% 1,900 Detroit, Michigan, Sewage Disposal System, Second Lien Revenue Bonds, Series B, 5% due 7/01/2036 (b) 2,004 1,700 Michigan Higher Education Student Loan Authority, Student Loan Revenue Refunding Bonds, AMT, Series XVII-G, 5.20% due 9/01/2020 (a) 1,772 1,300 Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Detroit Edison Company Pollution Control Project), AMT, Series A, 5.50% due 6/01/2030 (c) 1,399 2,500 Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Detroit Edison Company Pollution Control Project), AMT, Series C, 5.65% due 9/01/2029 (c) 2,651 4,300 Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Detroit Edison Company Pollution Control Project), AMT, Series C, 5.45% due 12/15/2032 (c) 4,567 - -------------------------------------------------------------------------------------------------------------------------------- Minnesota - 1.0% 3,099 Dakota County, Minnesota, Community Development Agency, S/F Mortgage Revenue Bonds (Mortgage-Backed Securities Program), Series B, 5.15% due 12/01/2038 (p)(o) 3,220 - -------------------------------------------------------------------------------------------------------------------------------- Mississippi - 0.8% 2,400 Walnut Grove, Mississippi, Correctional Authority, COP, 6% due 11/01/2009 (a)(g) 2,576 - -------------------------------------------------------------------------------------------------------------------------------- Nebraska - 0.5% 1,700 Washington County, Nebraska, Wastewater Facilities Revenue Bonds (Cargill, Inc. Project), AMT, 5.90% due 11/01/2027 1,854 - -------------------------------------------------------------------------------------------------------------------------------- Nevada - 3.9% 3,100 Carson City, Nevada, Hospital Revenue Bonds (Carson-Tahoe Hospital Project), Series A, 5.50% due 9/01/2033 (i) 3,318 1,500 Clark County, Nevada, Airport System Subordinate Lien Revenue Bonds, Series A-2, 5% due 7/01/2030 (b) 1,568 3,200 Clark County, Nevada, Airport System Subordinate Lien Revenue Bonds, Series A-2, 5% due 7/01/2036 (b) 3,337 5,060 Clark County, Nevada, IDR (Southwest Gas Corp. Project), AMT, Series A, 4.75% due 9/01/2036 (b) 5,086 - -------------------------------------------------------------------------------------------------------------------------------- New Hampshire - 2.3% 7,390 New Hampshire Health and Education Facilities Authority Revenue Bonds (Dartmouth-Hitchcock Obligation Group), 5.50% due 8/01/2027 (d) 7,928 - -------------------------------------------------------------------------------------------------------------------------------- New Jersey - 7.5% 700 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2031 743 1,165 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75% due 6/15/2034 1,254 2,600 New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5% due 7/01/2029 (f) 2,736 9,325 New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5.25% due 7/01/2031 (f) 10,009 5,200 New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5.25% due 7/01/2033 (f) 5,578 4,960 New Jersey EDA, School Facilities Construction Revenue Bonds, Series O, 5.125% due 3/01/2028 5,277 - -------------------------------------------------------------------------------------------------------------------------------- New York - 1.5% 2,250 Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series A, 5% due 11/15/2032 (b) 2,361 2,400 Tobacco Settlement Financing Corporation of New York Revenue Bonds, Series A-1, 5.25% due 6/01/2022 (a) 2,569 - --------------------------------------------------------------------------------------------------------------------------------
BlackRock MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2007 (in Thousands)
Face State Amount Municipal Bonds Value - -------------------------------------------------------------------------------------------------------------------------------- Ohio - 0.8% $ 2,550 Ohio State Air Quality, Development Authority Revenue Bonds (Dayton Power and Light Company Project), 4.80% due 9/01/2036 (b) $ 2,585 - -------------------------------------------------------------------------------------------------------------------------------- Pennsylvania - 5.3% 7,750 Pennsylvania State Public School Building Authority, School Lease Revenue Bonds (The School District of Philadelphia Project), 5% due 6/01/2013 (d)(g) 8,281 6,500 Philadelphia, Pennsylvania, Authority for Industrial Development, Lease Revenue Bonds, Series B, 5.50% due 10/01/2020 (d) 7,003 2,650 Philadelphia, Pennsylvania, Gas Works Revenue Refunding Bonds, 1998 General Ordinance, 7th Series, 5% due 10/01/2032 (a) 2,804 - -------------------------------------------------------------------------------------------------------------------------------- Rhode Island - 2.5% 4,345 Providence, Rhode Island, Public Building Authority, General Revenue Bonds, Series A, 6.25% due 12/15/2020 (d) 4,752 3,355 Rhode Island State Economic Development Corporation, Airport Revenue Bonds, Series B, 6.50% due 7/01/2010 (b)(g) 3,663 - -------------------------------------------------------------------------------------------------------------------------------- South Carolina - 3.0% 3,800 Berkeley County, South Carolina, School District, Installment Lease Revenue Bonds (Securing Assets for Education Project), 5.125% due 12/01/2030 4,026 2,365 Kershaw County, South Carolina, Public Schools Foundation, Installment Power Revenue Refunding Bonds, 5% due 12/01/2029 (k) 2,492 3,500 Scago Educational Facilities Corporation for Pickens County School District, South Carolina, Revenue Bonds, 5% due 12/01/2031 (d) 3,682 - -------------------------------------------------------------------------------------------------------------------------------- South Dakota - 2.1% 6,825 South Dakota State Health and Educational Facilities Authority Revenue Refunding Bonds, Series A, 7.625% due 1/01/2008 (f)(g) 6,978 - -------------------------------------------------------------------------------------------------------------------------------- Tennessee - 1.1% 6,500 Knox County, Tennessee, Health, Educational and Housing Facilities Board, Hospital Facilities Revenue Refunding Bonds (Covenant Health), Series A, 5.039% due 1/01/2038 (m) 1,404 2,280 Tennessee HDA, Revenue Refunding Bonds (Homeownership Program), AMT, Series 1, 5.95% due 7/01/2012 (f) 2,315 - -------------------------------------------------------------------------------------------------------------------------------- Texas - 6.9% 1,615 Bexar, Texas, Metropolitan Water District, Waterworks System Revenue Refunding Bonds, 6.35% due 5/01/2025 (f) 1,618 9,345 Leander, Texas, Independent School District, Capital Appreciation, GO, Refunding (School Building), 5.49% due 8/15/2029 (b)(m) 2,993 10,000 Leander, Texas, Independent School District, Capital Appreciation, GO, Refunding (School Building), 5.58% due 8/15/2035 (m) 2,247 4,475 Lewisville, Texas, Independent School District, Capital Appreciation and School Building, GO, Refunding, 4.67% due 8/15/2024 (b)(m) 1,994 5,820 North Harris County, Texas, Regional Water Authority, Senior Lien Revenue Bonds, 5.125% due 12/15/2035 (f) 6,122 1,600 Texas State Affordable Housing Corporation, S/F Mortgage Revenue Bonds (Professional Educators Home Loan Program), AMT, Series A-1, 5.50% due 12/01/2039 (p)(o) 1,712 6,250 Texas State Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier, Series A, 5.50% due 8/15/2039 (a) 6,705 - --------------------------------------------------------------------------------------------------------------------------------
BlackRock MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2007 (in Thousands)
Face State Amount Municipal Bonds Value - -------------------------------------------------------------------------------------------------------------------------------- Virginia - 5.4% $10,000 Fairfax County, Virginia, EDA, Resource Recovery Revenue Refunding Bonds, AMT, Series A, 6.10% due 2/01/2010 (a) $ 10,583 2,300 Halifax County, Virginia, IDA, Exempt Facility Revenue Refunding Bonds (Old Dominion Electric Cooperative Project), AMT, 5.625% due 6/01/2028 (a) 2,509 5,000 Stafford County, Virginia, EDA, Hospital Facilities Revenue Bonds (MediCorp Health System), 5.25% due 6/15/2037 5,233 - -------------------------------------------------------------------------------------------------------------------------------- Washington - 0.6% 2,000 Snohomish County, Washington, Public Utility District Number 001, Electric Revenue Refunding Bonds, 5.375% due 12/01/2009 (d)(g) 2,102 - -------------------------------------------------------------------------------------------------------------------------------- Puerto Rico - 0.5% 1,700 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series NN, 5.125% due 7/01/2029 1,778 - -------------------------------------------------------------------------------------------------------------------------------- Total Municipal Bonds (Cost - $440,022) - 136.7% 465,072 - -------------------------------------------------------------------------------------------------------------------------------- Municipal Bonds Held in Trust (j) - -------------------------------------------------------------------------------------------------------------------------------- California - 1.4% 4,400 California State, GO, Refunding, 5.25% due 2/01/2033 (i) 4,698 - -------------------------------------------------------------------------------------------------------------------------------- Illinois - 6.0% 10,250 Chicago, Illinois, Board of Education, GO (Chicago School Reform Project), 5.75% due 12/01/2027 (a) 10,570 9,100 Chicago, Illinois, O'Hare International Airport, General Airport Revenue Refunding Bonds, Third Lien, AMT, Series A, 5.75% due 1/01/2021 (f) 9,740 - -------------------------------------------------------------------------------------------------------------------------------- Massachusetts - 4.8% 5,600 Massachusetts State HFA, Housing Revenue Bonds (Rental Mortgage), AMT, Series F, 5.25% due 1/01/2046 (d) 5,763 3,100 Massachusetts State Port Authority, Special Facilities Revenue Bonds (Delta Air Lines, Inc. Project), AMT, Series A, 5.50% due 1/01/2016 (a) 3,275 4,000 Massachusetts State Port Authority, Special Facilities Revenue Bonds (Delta Air Lines, Inc. Project), AMT, Series A, 5.50% due 1/01/2018 (a) 4,226 2,870 Massachusetts State Port Authority, Special Facilities Revenue Bonds (Delta Air Lines, Inc. Project), AMT, Series A, 5.50% due 1/01/2019 (a) 3,032 - -------------------------------------------------------------------------------------------------------------------------------- New Jersey - 6.4% 15,250 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2024 (e) 16,395 5,000 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2031 (e) 5,477 - -------------------------------------------------------------------------------------------------------------------------------- New York - 1.3% 4,200 New York City, New York, GO, Series J, 5.50% due 6/01/2021 (c) 4,587 - -------------------------------------------------------------------------------------------------------------------------------- South Carolina - 2.2% 3,120 Charleston Educational Excellence Financing Corporation, South Carolina, Revenue Bonds (Charleston County School District), 5.25% due 12/01/2028 (e) 3,368 2,765 Charleston Educational Excellence Financing Corporation, South Carolina, Revenue Bonds (Charleston County School District), 5.25% due 12/01/2029 (e) 2,985 1,010 Charleston Educational Excellence Financing Corporation, South Carolina, Revenue Bonds (Charleston County School District), 5.25% due 12/01/2030 (e) 1,090 - -------------------------------------------------------------------------------------------------------------------------------- Texas - 9.0% 4,000 Dallas-Fort Worth, Texas, International Airport Revenue Bonds, AMT, Series A, 6% due 11/01/2028 (b) 4,188 14,500 Dallas-Fort Worth, Texas, International Airport Revenue Bonds, AMT, Series A, 5.50% due 11/01/2033 (f) 15,570 10,400 Travis County, Texas, Health Facilities Development Corporation, Revenue Refunding Bonds (Ascension Health Credit), Series A, 5.875% due 11/15/2009 (a)(g) 11,031 - -------------------------------------------------------------------------------------------------------------------------------- Total Municipal Bonds Held in Trust (Cost - $102,911) - 31.1% 105,995 - --------------------------------------------------------------------------------------------------------------------------------
BlackRock MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2007 (in Thousands)
Shares Held Short-Term Securities Value - -------------------------------------------------------------------------------------------------------------------------------- 3,400 Merrill Lynch Institutional Tax-Exempt Fund, 3.70% (l)(n) $ 3,400 - -------------------------------------------------------------------------------------------------------------------------------- Total Short-Term Securities (Cost - $3,400) - 1.0% 3,400 - -------------------------------------------------------------------------------------------------------------------------------- Total Investments (Cost - $546,333*) - 168.8% 574,467 Other Assets Less Liabilities - 1.0% 3,412 Liability for Trust Certificates, Including Interest Expense Payable - (14.8%) (50,336) Preferred Stock, at Redemption Value - (55.0%) (187,220) ---------- Net Assets Applicable to Common Stock - 100.0% $ 340,323 ==========
* The cost and unrealized appreciation (depreciation) of investments as of April 30, 2007, as computed for federal income tax purposes, were as follows: Aggregate cost $ 497,530 ========= Gross unrealized appreciation $ 27,427 Gross unrealized depreciation (273) --------- Net unrealized appreciation $ 27,154 ========= (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) Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund may have acquired the residual interest certificates. These securities serve as collateral in a financing transaction. (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: -------------------------------------------------------------------------- Net Dividend Affiliate Activity Income -------------------------------------------------------------------------- Merrill Lynch Institutional Tax-Exempt Fund (1,918) $ 29 -------------------------------------------------------------------------- (m) Represents a zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase. (n) Represents the current yield as of April 30, 2007. (o) FHLMC Collateralized. (p) FNMA/GNMA Collateralized. BlackRock MuniEnhanced Fund, Inc. Schedule of Investments as of April 30, 2007 (in Thousands) o Forward interest rate swaps outstanding as of April 30, 2007 were as follows:
------------------------------------------------------------------------------------------------------ Notional Unrealized Amount Depreciation ------------------------------------------------------------------------------------------------------ Pay a fixed rate of 3.753% and receive a floating rate based on 1-Week Bond Market Associated Rate Broker, JPMorgan Chase Expires May 2017 $35,000 $ (278) Pay a fixed rate of 3.686% and receive a floating rate based on 1-Week Bond Market Associated Rate Broker, JPMorgan Chase Expires August 2017 $16,500 (29) ------------------------------------------------------------------------------------------------------ Total $ (307) =======
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) - As of September 29, 2006, with the conclusion of the combination of Merrill Lynch's asset management business with BlackRock, the registrant was migrated to BlackRock's trading and compliance monitoring systems, and various personnel changes occurred. In conjunction with these business improvements, there were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under Act (17 CFR 270.30a-3(d)) that occurred during the last fiscal quarter that has materially affected, or is reasonably likely to 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. BlackRock MuniEnhanced Fund, Inc. By: /s/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr. Chief Executive Officer BlackRock MuniEnhanced Fund, Inc. Date: June 20, 2007 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 BlackRock MuniEnhanced Fund, Inc. Date: June 20, 2007 By: /s/ Donald C. Burke ----------------------- Donald C. Burke Chief Financial Officer BlackRock MuniEnhanced Fund, Inc Date: June 20, 2007 EX-99.CERT 2 e602306_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 BlackRock MuniEnhanced Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock 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 20, 2007 /s/ Robert C. Doll, Jr. --------------------------------- Robert C. Doll, Jr. Chief Executive Officer BlackRock 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 BlackRock MuniEnhanced Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock 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 20, 2007 /s/ Donald C. Burke --------------------------------- Donald C. Burke Chief Financial Officer BlackRock MuniEnhanced Fund, Inc. -----END PRIVACY-ENHANCED MESSAGE-----