-----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, Pzg4Vo4YReFqYsy8zrSIKXoGx//uEz/MV3FPNooRD5XGoX2xyqe8+NkngSqvWsPw MkotI5xYkThufSprJOF7Eg== 0000935069-07-002704.txt : 20071121 0000935069-07-002704.hdr.sgml : 20071121 20071121143903 ACCESSION NUMBER: 0000935069-07-002704 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070930 FILED AS OF DATE: 20071121 DATE AS OF CHANGE: 20071121 EFFECTIVENESS DATE: 20071121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTENNIAL CALIFORNIA TAX EXEMPT TRUST CENTRAL INDEX KEY: 0000854437 IRS NUMBER: 841121370 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-05871 FILM NUMBER: 071262862 BUSINESS ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 BUSINESS PHONE: 303-768-3200 MAIL ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY STREET 2: N/A CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 0000854437 S000004498 CENTENNIAL CALIFORNIA TAX EXEMPT TRUST C000012372 A N-Q 1 rq180_42757nq.txt RQ180_42757NQ.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 811-05871 --------- Centennial California Tax Exempt Trust -------------------------------------- (Exact name of registrant as specified in charter) 6803 South Tucson Way, Centennial, Colorado 80112-3924 ------------------------------------------------------ (Address of principal executive offices) (Zip code) Robert G. Zack, Esq. OppenheimerFunds, Inc. Two World Financial Center, New York, New York 10281-1008 --------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (303) 768-3200 -------------- Date of fiscal year end: June 30 ------- Date of reporting period: 09/30/2007 ---------- ITEM 1. SCHEDULE OF INVESTMENTS. Centennial California Tax Exempt Trust STATEMENT OF INVESTMENTS SEPTEMBER 30, 2007 / UNAUDITED - --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------------------- SHORT-TERM TAX-EXEMPT OBLIGATIONS--99.3% - -------------------------------------------------------------------------------------------------------------------- CALIFORNIA--94.7% Alameda, CA Transportation Corridor Agency RB, MSTFC Series 2006-1514, 3.91% 1,2 $ 3,020,000 $ 3,020,000 - -------------------------------------------------------------------------------------------------------------------- Alameda/Contra Costa, CA Schools FAU COP, Capital Improvements Financing Project, Series A, 3.79% 2 725,000 725,000 - -------------------------------------------------------------------------------------------------------------------- Alameda/Contra Costa, CA Schools FAU COP, Capital Improvements Financing Project, Series H, 3.78% 2 1,630,000 1,630,000 - -------------------------------------------------------------------------------------------------------------------- CA Dept. of Water Resources Power Supply RB, Series B3, 3.90% 2 500,000 500,000 - -------------------------------------------------------------------------------------------------------------------- CA Golden State Tobacco Securitization Corp. RRB, Municipal Securities Trust Certificates, Series 7046, Cl. A, 3.94% 1,2 4,000,000 4,000,000 - -------------------------------------------------------------------------------------------------------------------- CA GOUN, P-Floats, Series PT-3850, 3.95% 2 2,000,000 2,000,000 - -------------------------------------------------------------------------------------------------------------------- CA GOUN, P-Floats, Series PT-4031, 3.92% 1,2 6,500,000 6,500,000 - -------------------------------------------------------------------------------------------------------------------- CA GOUN, P-Floats, Series PZP-010, 3.99% 1,2 2,160,000 2,160,000 - -------------------------------------------------------------------------------------------------------------------- CA Imperial Irrigation District RB, Electrical & WS Projects, Series A, 3.68%, 10/11/07 5,000,000 5,000,000 - -------------------------------------------------------------------------------------------------------------------- CA Infrastructure & Economic Development Bank RB, Starter & Alternator Project, Series 1999, 4% 2 3,900,000 3,900,000 - -------------------------------------------------------------------------------------------------------------------- CA PCFAU RRB, Pacific Gas & Electric, Series C, 3.93% 2 600,000 600,000 - -------------------------------------------------------------------------------------------------------------------- CA PCFAU SWD RB, Garden City Sanitation, Series A, 3.87% 2 2,615,000 2,615,000 - -------------------------------------------------------------------------------------------------------------------- CA PCFAU SWD RB, George Borba & Son Dairy Project, 3.92% 2 3,800,000 3,800,000 - -------------------------------------------------------------------------------------------------------------------- CA PCFAU SWD RB, Greenwaste Recovery, Inc. Project, Series 2007A, 3.87% 2 3,305,000 3,305,000 - -------------------------------------------------------------------------------------------------------------------- CA PCFAU SWD RB, Greenwaste Recovery, Inc. Project, Series A,3.87% 2 1,880,000 1,880,000 - -------------------------------------------------------------------------------------------------------------------- CA PCFAU SWD RB, Marin San Services Project, Series A, 3.87% 2 1,400,000 1,400,000 - -------------------------------------------------------------------------------------------------------------------- CA PCFAU SWD RB, Penas Disposal, Inc. Project, Series A, 3.87% 2 1,345,000 1,345,000 - -------------------------------------------------------------------------------------------------------------------- CA PCFAU SWD RB, Ratto Group Cos. Project, Series 2007A, 3.87% 2 1,200,000 1,200,000 - -------------------------------------------------------------------------------------------------------------------- CA PCFAU SWD RB, Sunset Waste Paper, Inc. Project, 3.87% 2 2,960,000 2,960,000 - -------------------------------------------------------------------------------------------------------------------- CA PCFAU SWD RB, Valley Vista Services, Inc., Series A, 3.87% 2 300,000 300,000 - -------------------------------------------------------------------------------------------------------------------- CA PCFAU SWD RB, Vanderham/J&D Wilson Dairy Project, Series 2004, 3.92% 2 2,500,000 2,500,000 - -------------------------------------------------------------------------------------------------------------------- CA RB, P-Floats, Series PZP-002, 3.99% 1,2 4,000,000 4,000,000 - -------------------------------------------------------------------------------------------------------------------- CA RB, P-Floats, Series PZP-005, 4.04% 1,2 2,000,000 2,000,000 - -------------------------------------------------------------------------------------------------------------------- CA RB, P-Floats, Series PZP-009, 3.99% 1,2 1,400,000 1,400,000 - -------------------------------------------------------------------------------------------------------------------- CA RB, P-Floats, Series PZP-012, 3.99% 1,2 820,000 820,000 - -------------------------------------------------------------------------------------------------------------------- CA RB, P-Floats, Series PZP-013, 3.99% 1,2 720,000 720,000 - -------------------------------------------------------------------------------------------------------------------- CA RB, P-Floats, Series PZP-014, 3.99% 1,2 175,000 175,000 - -------------------------------------------------------------------------------------------------------------------- CA REF GOUN, Kindergarten University, Series 2004B-6, 3.71% 2 6,850,000 6,850,000 - -------------------------------------------------------------------------------------------------------------------- CA REF GOUN, P-Floats, Series PT-4027, 3.92% 1,2 2,500,000 2,500,000 - -------------------------------------------------------------------------------------------------------------------- CA REF GOUN, P-Floats, Series PT-4166, 3.93% 1,2 5,000,000 5,000,000 - -------------------------------------------------------------------------------------------------------------------- CA SCDAU MH RRB, Foxwood Apts. Project, Series 1999J, 3.72% 2 650,000 650,000 - -------------------------------------------------------------------------------------------------------------------- CA SCDAU RB, House Ear Institute Project, Series 2007, 3.91% 2 7,910,000 7,910,000 - -------------------------------------------------------------------------------------------------------------------- CA SCDAU RB, P-Floats, Series PT-3708, 4.01% 1,2 450,000 450,000 - -------------------------------------------------------------------------------------------------------------------- CA Statewide FAU TS RB, P-Floats, Series PA-1287, 3.93% 1,2 3,150,000 3,150,000 - -------------------------------------------------------------------------------------------------------------------- Clovis, CA USD GOB, P-Floats, Series PZ-42, 3.96% 1,2 515,000 515,000 - --------------------------------------------------------------------------------------------------------------------
1 | CENTENNIAL CALIFORNIA TAX EXEMPT TRUST Centennial California Tax Exempt Trust STATEMENT OF INVESTMENTS SEPTEMBER 30, 2007 / UNAUDITED - --------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------- PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------------------- SHORT-TERM TAX-EXEMPT OBLIGATIONS CONTINUED - -------------------------------------------------------------------------------------------------------------------- CALIFORNIA CONTINUED - -------------------------------------------------------------------------------------------------------------------- East Side, CA Unified High SDI REF GOUN, SPEARS Deutsche Bank/Lifers Trust, Series DB-296, 3.95% 2 $ 2,395,000 $ 2,395,000 - -------------------------------------------------------------------------------------------------------------------- Irvine, CA USD SPTX Bonds, Austin Trust Certificates Series BOA 315, 3.92% 1,2 6,000,000 6,000,000 - -------------------------------------------------------------------------------------------------------------------- Los Angeles, CA Capital Improvement RB, 3.63%, 11/15/07 1,000,000 1,000,000 - -------------------------------------------------------------------------------------------------------------------- Los Angeles, CA MH RB, Windward, P-Floats, Series PT-3700, 4.01% 1,2 3,980,000 3,980,000 - -------------------------------------------------------------------------------------------------------------------- Los Angeles, CA Municipal Improvement Corp. RB, Series A-1&2,3.58%, 12/7/07 1,200,000 1,200,000 - -------------------------------------------------------------------------------------------------------------------- Los Angeles, CA Wastewater RRB, P-Floats, Series P T-4093, 3.95% 1,2 1,000,000 1,000,000 - -------------------------------------------------------------------------------------------------------------------- Manteca, CA USD GOUN, SPEARS Deutsche Bank/Lifers Trust, Series DB-299, 3.95% 1,2 2,565,000 2,565,000 - -------------------------------------------------------------------------------------------------------------------- Rancho Santiago, CA Community College District GOUN, AAMC Series 2006-76, 3.91% 1,2 4,000,000 4,000,000 - -------------------------------------------------------------------------------------------------------------------- Riverside Cnty., CA Transportation Commission RB, Series A,3.63%, 11/15/07 4,000,000 4,000,000 - -------------------------------------------------------------------------------------------------------------------- Riverside Cnty., CA Transportation Commission RB, Series A, 3.65%, 10/24/07 1,000,000 1,000,000 - -------------------------------------------------------------------------------------------------------------------- Riverside Cnty., CA Transportation Commission RB, Series B,3.68%, 11/8/07 1,000,000 1,000,000 - -------------------------------------------------------------------------------------------------------------------- Riverside Cnty., CA Transportation Commission RB, Series B,3.75%, 11/7/07 500,000 500,000 - -------------------------------------------------------------------------------------------------------------------- Sacramento Cnty., CA HAU MH RB, Reset Option Certificates II-R Trust, Series 10010CE, 4.04% 1,2 3,000,000 3,000,000 - -------------------------------------------------------------------------------------------------------------------- San Bernardino Cnty., CA MH RRB, Parkview Apts., Series A, 3.74% 2 1,500,000 1,500,000 - -------------------------------------------------------------------------------------------------------------------- San Diego Cnty., CA COP, Friends of Chabad Lubavitch Project,3.85% 2 300,000 300,000 - -------------------------------------------------------------------------------------------------------------------- San Francisco, CA City & Cnty. PUC Clean Water RRB, MERLOTS Series 2003 B20, 3.90% 1,2 4,500,000 4,500,000 - -------------------------------------------------------------------------------------------------------------------- San Francisco, CA City & Cnty. PUC RB, Wastewater, 3.68%, 10/19/07 2,500,000 2,500,000 - -------------------------------------------------------------------------------------------------------------------- San Joaquin Delta Community College District, CA GOUN, Municipal Securities Trust Certificates, Series 3020, Cl. A, 3.92% 1,2 10,925,000 10,925,000 - -------------------------------------------------------------------------------------------------------------------- San Joaquin, CA Transportation Authority Sales Tax RB, 3.70%, 2/14/08 2,500,000 2,500,000 - -------------------------------------------------------------------------------------------------------------------- South Bay, CA Regional Public Communications Authority RB, Manhattan Beach Project, Series C, 3.84% 2 1,030,000 1,030,000 - -------------------------------------------------------------------------------------------------------------------- South Placer, CA Wastewater Authority RB, Series B, 3.84% 2 2,650,000 2,650,000 - -------------------------------------------------------------------------------------------------------------------- Turlock, CA Irrigation District RB, Series A, 3.45%, 1/10/08 1,000,000 1,000,000 - -------------------------------------------------------------------------------------------------------------------- Vallejo, CA Water RB, Series A, 3.79% 2 3,410,000 3,410,000 - -------------------------------------------------------------------------------------------------------------------- Ventura Cnty., CA PFAU Lease RB, 3.65%, 10/24/07 2,300,000 2,300,000 - -------------------------------------------------------------------------------------------------------------------- Victorville, CA Joint Powers FAU Lease RRB, CoGeneration Facilities, Series 2007A, 3.78% 2 11,000,000 11,000,000 - -------------------------------------------------------------------------------------------------------------------- Wiseburn, CA SDI GOUN, SPEARS Deutsche Bank/Lifers Trust, Series 4,800,000 4,800,000 DB-304, 3.96% 1,2 ----------------- 167,535,000 - -------------------------------------------------------------------------------------------------------------------- OTHER SECURITIES--2.3% SPEARS Deutsche Bank/Lifers Trust, Series DB-283, 3.95% 1,2 1,200,000 1,200,000 - --------------------------------------------------------------------------------------------------------------------
2 | CENTENNIAL CALIFORNIA TAX EXEMPT TRUST Centennial California Tax Exempt Trust STATEMENT OF INVESTMENTS SEPTEMBER 30, 2007 / UNAUDITED - --------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------- PRINCIPAL AMOUNT VALUE - -------------------------------------------------------------------------------------------------------------------- SHORT-TERM TAX-EXEMPT OBLIGATIONS CONTINUED - -------------------------------------------------------------------------------------------------------------------- OTHER SECURITIES CONTINUED SPEARS Deutsche Bank/Lifers Trust, Series DB-332, 3.99% 1,2 $ 2,900,000 $ 2,900,000 ----------------- 4,100,000 - -------------------------------------------------------------------------------------------------------------------- U.S. POSSESSIONS--2.3% PR CMWLTH Aqueduct & Sewer Authority RB, Reset Option Certificates II-R Trust, Series 10001CE, 3.92% 2 3,500,000 3,500,000 - -------------------------------------------------------------------------------------------------------------------- PR CMWLTH Infrastructure FAU RB, Tender Option Trust Certificates Series 2005 Z-6, 3.90% 1,2 618,000 618,000 ----------------- 4,118,000 - -------------------------------------------------------------------------------------------------------------------- TOTAL INVESTMENTS, AT VALUE (COST $175,753,000) 99.3% 175,753,000 - -------------------------------------------------------------------------------------------------------------------- OTHER ASSETS NET OF LIABILITIES 0.7 1,229,933 ----------------------------------- Net Assets 100.0% $ 176,982,933 ===================================
FOOTNOTES TO STATEMENT OF INVESTMENTS To simplify the listings of securities, abbreviations are used per the table below: AAMC ABN AMRO Munitops Certificates CMWLTH Commonwealth COP Certificates of Participation FAU Finance Authority GOB General Obligation Bonds GOUN General Obligation Unlimited Nts. HAU Housing Authority MERLOTS Municipal Exempt Receipts Liquidity Option Tender MH Multifamily Housing MSTFC Morgan Stanley & Co., Inc. Trust Floater Certificates P-Floats Puttable Floating Option Tax Exempt Receipts PCFAU Pollution Control Finance Authority PFAU Public Finance Authority PUC Public Utilities Commission RB Revenue Bonds REF Refunding RRB Revenue Refunding Bonds SCDAU Statewide Communities Development Authority SDI School District SPEARS Short Puttable Exempt Adjustable Receipts SPTX Special Tax SWD Solid Waste Disposal TS Tobacco Settlement USD Unified School District WS Water System 1. Represents securities sold under Rule 144A, which are exempt from registration under the Securities Act of 1933, as amended. These securities have been determined to be liquid under guidelines established by the Board of Trustees. These securities amount to $81,898,000 or 46.27% of the Trust's net assets as of September 30, 2007. 2. Floating or variable rate obligation maturing in more than one year. The interest rate, which is based on specific, or an index of, market interest rates, is subject to change periodically and is the effective rate on September 30, 2007. This instrument has a demand feature which allows, on up to 30 days' notice, the recovery of principal at any time, or at specified intervals not exceeding one year. 3 | CENTENNIAL CALIFORNIA TAX EXEMPT TRUST Centennial California Tax Exempt Trust STATEMENT OF INVESTMENTS SEPTEMBER 30, 2007 / UNAUDITED - -------------------------------------------------------------------------------- NOTES TO STATEMENT OF INVESTMENTS SECURITIES VALUATION. The net asset value of shares of the Trust is normally determined twice each day, at 12:00 Noon Eastern time and at 4:00 P.M. Eastern time on each day the New York Stock Exchange (the "Exchange") is open for trading. As permitted under Rule 2a-7 of the Investment Company Act of 1940, portfolio securities are valued on the basis of amortized cost, which approximates market value. If amortized cost is determined not to approximate market value, the fair value of the portfolio securities will be determined under procedures approved by the Trust's Board of Trustees. SECURITY CREDIT RISK. There are certain risks arising from geographic concentration in any state. Certain revenue or tax related events in a state may impair the ability of certain issuers of municipal securities to pay principal and interest on their obligations. RECENT ACCOUNTING PRONOUNCEMENT In September 2006, Financial Accounting Standards Board issued Statement of Financial Accounting Standards ("SFAS") No. 157, FAIR VALUE MEASUREMENTS. This standard establishes a single authoritative definition of fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. SFAS No. 157 applies to fair value measurements already required or permitted by existing standards. SFAS No. 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. As of September 30, 2007, the Manager does not believe the adoption of SFAS No. 157 will materially impact the financial statement amounts; however, additional disclosures may be required about the inputs used to develop the measurements and the effect of certain of the measurements on changes in net assets for the period. 4 | CENTENNIAL CALIFORNIA TAX EXEMPT TRUST ITEM 2. CONTROLS AND PROCEDURES. (a) Based on their evaluation of the registrant's disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c)) as of 09/30/2007, the registrant's principal executive officer and principal financial officer found the registrant's disclosure controls and procedures to provide reasonable assurances that information required to be disclosed by the registrant in the reports that it files under the Securities Exchange Act of 1934 (a) is accumulated and communicated to the registrant's management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission. (b) There have been no significant changes in the registrant's internal controls over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. Exhibits attached hereto. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Centennial California Tax Exempt Trust By: /s/ John V. Murphy --------------------------- John V. Murphy Principal Executive Officer Date: 11/14/2007 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/ John V. Murphy --------------------------- John V. Murphy Principal Executive Officer Date: 11/14/2007 By: /s/ Brian W. Wixted --------------------------- Brian W. Wixted Principal Financial Officer Date: 11/14/2007 EX-99.CERT 2 rq180_42757cert302.txt RQ180_42757CERT302.TXT Exhibit 99.CERT Section 302 Certifications CERTIFICATIONS I, John V. Murphy, certify that: 1. I have reviewed this report on Form N-Q of Centennial California Tax Exempt Trust; 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 schedules 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 and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of Trustees (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. By: /s/ John V. Murphy --------------------------- John V. Murphy Principal Executive Officer Date: 11/14/2007 Exhibit 99.CERT Section 302 Certifications CERTIFICATIONS I, Brian W. Wixted, certify that: 1. I have reviewed this report on Form N-Q of Centennial California Tax Exempt Trust; 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 schedules 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 and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of Trustees (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. By: /s/ Brian W. Wixted --------------------------- Brian W. Wixted Principal Financial Officer Date: 11/14/2007 -----END PRIVACY-ENHANCED MESSAGE-----