-----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, WsIeMT45al4EX/bv1HI80Xpz68KoGfijr49a6Cv4bsdTIX052u//5B5+yWghZw1n tn/tq892FPaq3SqdCkuoow== 0000928816-06-001337.txt : 20061026 0000928816-06-001337.hdr.sgml : 20061026 20061026152510 ACCESSION NUMBER: 0000928816-06-001337 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060831 FILED AS OF DATE: 20061026 DATE AS OF CHANGE: 20061026 EFFECTIVENESS DATE: 20061026 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM ARIZONA TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000869392 IRS NUMBER: 046665534 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06258 FILM NUMBER: 061165704 BUSINESS ADDRESS: STREET 1: PUTNAM INVESTMENTS INC STREET 2: ONE POST OFFICE SQUARE MAIL STOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 8002251585 MAIL ADDRESS: STREET 1: 2 LIBERTY SQUARE STREET 2: MAIL STOP L6 CITY: BOSTON STATE: MA ZIP: 02109 0000869392 S000005506 PUTNAM ARIZONA TAX EXEMPT INCOME FUND C000014989 Class M Shares C000014990 Class A Shares PTAZX C000014991 Class B Shares PAZBX C000039832 Class C Shares N-Q 1 a_aztaxexempt.htm PUTNAM ARIZONA TAX EXEMPT INCOME FUND

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- 06258 )

Exact name of registrant as specified in charter: Putnam Arizona Tax Exempt Income Fund

Address of principal executive offices: One Post Office Square, Boston, Massachusetts 02109

Name and address of agent for service:  Beth S. Mazor, Vice President 
  One Post Office Square 
  Boston, Massachusetts 02109 
 
Copy to:  John W. Gerstmayr, Esq. 
  Ropes & Gray LLP 
  One International Place 
  Boston, Massachusetts 02110 

Registrant’s telephone number, including area code: (617) 292-1000

Date of fiscal year end: May 31, 2007

Date of reporting period: August 31, 2006

Item 1. Schedule of Investments:


Putnam Arizona Tax Exempt Income Fund       

 
The fund's portfolio       
8/31/06 (Unaudited)       
 
 
Key to abbreviations       
AMBAC -- AMBAC Indemnity Corporation       
COP -- Certificate of Participation       
FGIC -- Financial Guaranty Insurance Company       
FHA Insd. -- Federal Housing Administration Insured       
FHLMC Coll. -- Federal Home Loan Mortgage Corporation Collateralized       
FNMA Coll. -- Federal National Mortgage Association Collateralized       
FSA -- Financial Security Assurance       
GNMA Coll. -- Government National Mortgage Association Collateralized       
G.O. Bonds -- General Obligation Bonds       
MBIA -- MBIA Insurance Company       
U.S. Govt. Coll. -- U.S. Government Collateralized       
VRDN -- Variable Rate Demand Notes       
 
 
MUNICIPAL BONDS AND NOTES (95.8%)(a)       
  Rating (RAT)  Principal amount  Value 

 
 
Arizona (87.5%)       
Apache Cnty., Indl. Dev. Auth. Poll. Control Rev.       
Bonds (Tucson Elec. Pwr. Co.), Ser. A, 5.85s, 3/1/28  Ba1  $500,000  $503,490 
AZ Agricultural Impt. & Pwr. Dist. Elec. Syst. Rev.       
Bonds (Salt River), Ser. B, 5s, 1/1/22  Aa1  1,500,000  1,574,400 
AZ Hlth. Fac. Auth. Hosp. Syst. Rev. Bonds (John C.       
Lincoln Hlth. Network), 7s, 12/1/25 (Prerefunded)  BBB  1,000,000  1,145,760 
AZ Hlth. Fac. Auth. Rev. Bonds (Bethesda Foundation),       
Ser. A, 6.4s, 8/15/27  BB-/P  400,000  403,060 
AZ School Fac. Board Rev. Bonds (State School Impt.)       
5 1/4s, 7/1/20 (Prerefunded)  Aaa  1,000,000  1,082,060 
5 1/4s, 7/1/14 (Prerefunded)  Aaa  1,050,000  1,136,163 
AZ State Trans. Board Hwy. Rev. Bonds, Ser. B, 5s,       
7/1/22  Aa2  2,000,000  2,112,420 
AZ State U. COP       
(AZ State U. Project-2002), MBIA, 5.1s, 7/1/25  Aaa  1,000,000  1,051,780 
(Research Infrastructure), AMBAC, 5s, 9/1/30  Aaa  1,000,000  1,044,820 
AZ State U. Rev. Bonds, FGIC, 5 7/8s, 7/1/25       
(Prerefunded)  Aaa  500,000  535,150 
AZ Tourism & Sports Auth. Tax Rev. Bonds (Multi-Purpose Stadium Fac.), Ser. A, MBIA       
5 3/8s, 7/1/19  Aaa  1,000,000  1,087,520 
5s, 7/1/31  Aaa  1,500,000  1,556,910 
5s, 7/1/25  Aaa  825,000  861,746 
Casa Grande, Indl. Dev. Auth. Rev. Bonds (Casa Grande       
Regl. Med. Ctr.), Ser. A, 7 1/4s, 12/1/19  BB-/P  150,000  163,875 
Chandler, G.O. Bonds, FGIC, 8s, 7/1/10  Aaa  1,450,000  1,670,067 
Chandler, St. & Hwy. User Rev. Bonds, MBIA, 8s, 7/1/11  Aaa  1,100,000  1,305,887 
Chandler, Wtr. & Swr. Rev. Bonds, FGIC, 8s, 7/1/14  Aaa  2,150,000  2,730,694 
Cochise Cnty., Indl. Dev. Auth. Rev. Bonds (Sierra       
Vista Regl. Hlth. Ctr.), Ser. A, 6.2s, 12/1/21  BB+/P  490,000  522,526 
Glendale, Indl. Dev. Auth. Hosp. Rev. Bonds       
(Midwestern U.), Ser. A, 5 7/8s, 5/15/31  A-  1,500,000  1,612,920 
Glendale, Indl. Dev. Auth. Rev. Bonds (John C. Lincoln       
Hlth.), Ser. B, 5 1/4s, 12/1/19  BBB  500,000  528,435 
Glendale, Wtr. & Swr. Rev. Bonds, AMBAC, 5s, 7/1/28  Aaa  1,600,000  1,676,096 
Maricopa Cnty., Hosp. Rev. Bonds (Sun Hlth. Corp.)       
6 1/8s, 4/1/18  Baa1  140,000  144,690 
6 1/8s, 4/1/18 (Prerefunded)  Baa1  360,000  372,060 
Maricopa Cnty., Indl. Dev. Auth. Hosp. Fac. Rev. Bonds       
(Samaritan Hlth. Svcs.), Ser. A, MBIA, U.S. Govt.       
Coll., 7s, 12/1/16 (Prerefunded)  Aaa  3,500,000  4,281,968 
Maricopa Cnty., Poll. Control Rev. Bonds (Public       
Service Co. NM), Ser. A, 6.3s, 12/1/26  Baa2  1,000,000  1,024,570 
Maricopa Cnty., Pub. Fin. Corp. Lease Rev. Bonds, AMBAC       
5 1/2s, 7/1/14  AAA  870,000  936,111 
5 1/2s, 7/1/14 (Prerefunded)  AAA  130,000  140,712 
Maricopa Cnty., School Dist. G.O. Bonds       
(No. 69 Paradise Valley-Project of 1994), Ser. B,       
MBIA, 7s, 7/1/12  Aaa  2,000,000  2,347,140 
(No. 006 WA Elementary 2004 School Impt.), Ser. A,       
FSA, 5s, 7/1/17  Aaa  320,000  338,150 
(No. 006 WA Elementary 2004 School Impt.), Ser. A,       
FSA, 5s, 7/1/17 (Prerefunded)  Aaa  175,000  187,087 
(No. 11 Peoria Unified 2003 School Impt.), FGIC, 5s,       
7/1/09  Aaa  665,000  690,257 
(No. 11 Peoria Unified 2003 School Impt.), FGIC, 5s,       
7/1/09 (Prerefunded)  Aaa  20,000  20,760 
Mesa, Indl. Dev. Auth. Rev. Bonds (Discovery Hlth.       
Syst.), Ser. A, MBIA, 5 3/4s, 1/1/25 (Prerefunded)  Aaa  1,500,000  1,611,345 
Mesa, Util. Syst. Rev. Bonds, FGIC       
7 1/4s, 7/1/12  Aaa  365,000  433,094 
7 1/4s, 7/1/12 (Prerefunded)  Aaa  635,000  753,104 
Mohave Cnty., COP (Mohave Administration Bldg.),       
AMBAC, 5 1/4s, 7/1/19  Aaa  2,000,000  2,177,540 
Northern AZ U. Rev. Bonds, FGIC       
6 1/2s, 6/1/09  Aaa  1,725,000  1,855,514 
5s, 6/1/34  Aaa  1,000,000  1,035,700 
Oro Valley, Muni. Property Corp. Rev. Bonds (Sr. Lien       
Wtr.), MBIA, 5s, 7/1/23  Aaa  1,195,000  1,254,726 
Phoenix, Civic Impt. Corp. Arpt. Rev. Bonds       


(Sr. Lien), Ser. B, FGIC, 5 3/4s, 7/1/19  Aaa  1,000,000  1,085,670 
Ser. A, FSA, 5 1/4s, 7/1/14  Aaa  1,970,000  2,052,208 
Ser. A, FSA, 5 1/4s, 7/1/13  Aaa  1,620,000  1,686,728 
Ser. A, FSA, 5 1/4s, 7/1/11  Aaa  2,010,000  2,089,877 
Phoenix, Civic Impt. Corp. Excise Tax Rev. Bonds       
(Muni. Courthouse), Ser. A, 5 1/4s, 7/1/24  AAA  1,000,000  1,049,000 
(Civic Plaza Expansion), Ser. A, FGIC, 5s, 7/1/22  Aaa  1,000,000  1,063,710 
Phoenix, Civic Impt. Corp. Waste Wtr. Syst. Rev.       
Bonds, MBIA, 5s, 7/1/28  Aaa  1,000,000  1,048,720 
Phoenix, G.O. Bonds       
5 3/8s, 7/1/25  Aa1  1,000,000  1,064,600 
5 1/4s, 7/1/22  Aa1  1,000,000  1,057,970 
Ser. B, 5s, 7/1/27  Aa1  1,500,000  1,570,755 
Phoenix, Hsg. Mtge. Fin. Corp. Mtge. Rev. Bonds       
(Section 8 Assistances), Ser. A, MBIA, FHA Insd.,       
6.9s, 1/1/23  Aaa  1,080,000  1,083,413 
Phoenix, Indl. Dev. Auth. Govt. Office Lease Rev.       
Bonds (Capitol Mall, LLC II), AMBAC, 5s, 9/15/28  Aaa  1,000,000  1,037,070 
Phoenix, Indl. Dev. Auth. VRDN (Valley of the Sun       
YMCA), 3.57s, 1/1/31 (SEG)  A-1+  2,500,000  2,500,000 
Pima Cnty., Indl Dev. Auth. Rev. Bonds (Horizon Cmnty.       
Learning Ctr.), 5.05s, 6/1/25  BBB-  125,000  121,740 
Pima Cnty., Indl Dev. Auth. Single Fam. Mtge. Rev.       
Bonds, Ser. B, FHLMC Coll., FNMA Coll., GNMA Coll.,       
6.95s, 11/1/23  AAA  165,000  166,315 
Pima Cnty., Unified School Dist. G.O. Bonds (No. 1       
Tucson), FGIC, 7 1/2s, 7/1/08  Aaa  1,000,000  1,068,380 
Scottsdale, G.O. Bonds (Projects 1999 & 2000)       
5s, 7/1/24  Aaa  510,000  532,583 
5s, 7/1/24 (Prerefunded)  Aaa  990,000  1,049,875 
Scottsdale, Indl. Dev. Auth. Hosp. Rev. Bonds       
(Scottsdale Memorial Hosp.), Ser. A, AMBAC, 6 1/8s,       
9/1/17  Aaa  1,000,000  1,042,350 
(Scottsdale Hlth. Care), 5.8s, 12/1/31 (Prerefunded)  A3  500,000  554,415 
(Scottsdale Hlth. Care), 5.7s, 12/1/21 (Prerefunded)  A3  1,000,000  1,104,110 
Snowflake, Excise Tax Rev. Bonds, 5s, 7/1/18  BBB+  960,000  977,136 
South Campus Group, LLC Student Hsg. Rev. Bonds (AZ       
State U. South Campus), MBIA       
5 5/8s, 9/1/28  Aaa  1,250,000  1,358,450 
5 5/8s, 9/1/23  Aaa  640,000  706,944 
Tempe, Indl. Dev. Auth. Lease Rev. Bonds (ASU       
Foundation), AMBAC, 5s, 7/1/28  Aaa  2,215,000  2,313,656 
Tempe, Indl. Dev. Auth. Sr. Living Rev. Bonds       
(Friendship Village), Ser. A, 5 3/8s, 12/1/13  BB-/P  200,000  204,454 
Tucson, Indl. Dev. Auth. Sr. Living Fac. Rev. Bonds       
(Christian Care), Ser. A, 6s, 7/1/30  AA  1,000,000  1,071,370 
U. of AZ, COP (U. of AZ Parking & Student Hsg.),       
AMBAC, 5 3/4s, 6/1/24 (Prerefunded)  Aaa  2,000,000  2,112,580 
U. of AZ, Rev. Bonds, FSA, 5 1/4s, 6/1/08  Aaa  1,500,000  1,541,205 
Yavapai Cnty., Indl. Dev. Auth. Rev. Bonds (Yavapai       
Regl. Med. Ctr.), Ser. A, 6s, 8/1/33  Baa2  1,000,000  1,072,180 
Yavapai Cnty., Indl. Dev. Auth. Solid Waste Disp. Rev.       
Bonds (Waste Mgmt., Inc.), Ser. A-1, 4.9s, 3/1/28  BBB  1,000,000  1,014,040 
      80,311,811 

 
Puerto Rico (7.4%)       
Cmnwlth. of PR, G.O. Bonds       
Ser. A, MBIA, 5 1/2s, 7/1/29  AAA  500,000  593,965 
(Pub. Impt.), Ser. A, 5 1/4s, 7/1/25  BBB  350,000  372,631 
Cmnwlth. of PR, Hwy. & Trans. Auth. Rev. Bonds, Ser.       
K, 5s, 7/1/17  BBB+  1,000,000  1,056,130 
Cmnwlth. of PR, Muni. Fin. Agcy. G.O. Bonds, Ser. A,       
FSA, 5 1/2s, 8/1/23 (Prerefunded)  Aaa  1,000,000  1,063,180 
Cmnwlth. of PR, Pub. Bldg. Auth. Rev. Bonds (Govt.       
Fac.), Ser. I, 5 1/4s, 7/1/29  BBB  500,000  524,455 
PR Elec. Pwr. Auth. Rev. Bonds, Ser. RR, FGIC, 5s,       
7/1/24  Aaa  1,000,000  1,063,710 
PR Indl. Tourist Edl. Med. & Env. Control Fac. Rev.       
Bonds (Cogen. Fac.-AES), 6 5/8s, 6/1/26  Baa3  1,000,000  1,095,890 
PR Muni. Fin. Agcy. G.O. Bonds, Ser. A       
5 1/4s, 8/1/24  BBB  500,000  530,250 
5s, 8/1/10  BBB  500,000  517,335 
      6,817,546 

 
Virgin Islands (0.9%)       
VI Tobacco Settlement Fin. Corp. Rev. Bonds, 5s,       
5/15/31  Baa3  845,000  853,028 
 
TOTAL INVESTMENTS       

 
Total investments (cost $83,400,712) (b)      $87,982,385 


FUTURES CONTRACTS OUTSTANDING at 8/31/06 (Unaudited)         
 
  Number of    Expiration  Unrealized 
  contracts  Value  date  appreciation 

U.S. Treasury Note 10 yr (Long)  8  $859,000  Dec-06  $3,351 



  INTEREST RATE SWAP CONTRACTS OUTSTANDING at 8/31/06 (Unaudited)   

      Payments  Payments  Unrealized 
  Swap counterparty /  Termination  made by  received by  appreciation/ 
  Notional amount  date  fund per annum  fund per annum  (depreciation) 

 
  Merrill Lynch Capital Services, Inc.       
        3 month U.S. Bond Market   
        Association Municipal Swap   
  $ 2,300,000  (E) 11/22/16  4.1735%  Index  $(59,759) 

  1,600,000  (E) 11/22/16  3 month USD-LIBOR-BBA  5.711%  51,248 

  Total        $(8,511) 

(E)
 
See Interest rate swap contracts note regarding extended effective dates.   


NOTES

(a) Percentages indicated are based on net assets of $91,789,232.

(RAT) The Moody's or Standard & Poor's ratings indicated are believed to be the most recent ratings available at August 31, 2006 for the securities listed. Ratings are generally ascribed to securities at the time of issuance. While the agencies may from time to time revise such ratings, they undertake no obligation to do so, and the ratings do not necessarily represent what the agencies would ascribe to these securities at August 31, 2006. Securities rated by Putnam are indicated by "/P". Security ratings are defined in the Statement of Additional Information.

(b) The aggregate identified cost on a tax basis is $83,400,712, resulting in gross unrealized appreciation and depreciation of $4,628,039 and $46,366, respectively, or net unrealized appreciation of $4,581,673.

(SEG) A portion of this security was pledged and segregated with the custodian to cover margin requirements for futures contracts at August 31, 2006.

At August 31, 2006, liquid assets totaling $859,000 have been designated as collateral for open futures contracts.

The rates shown on VRDN are the current interest rates at August 31, 2006.

The dates shown on debt obligations are the original maturity dates.

The fund had the following industry group concentrations greater than 10% at August 31, 2006 (as a percentage of net   
assets):   
 
Health care  14.3% 
Education  14.1 
 
 
The fund had the following insurance concentrations greater than 10% at August 31, 2006 (as a percentage of net   
assets):   
 
MBIA  22.0% 
FGIC  15.3 
AMBAC  13.6 

Security valuation Tax-exempt bonds and notes are valued at fair value on the basis of valuations provided by an independent pricing service, approved by the Trustees. Such services use information with respect to transactions in bonds, quotations from bond dealers, market transactions in comparable securities and various relationships between securities in determining value. Other investments are valued at fair value following procedures approved by the Trustees. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security at a given point in time and does not reflect an actual market price, which may be different by a material amount.

Futures and options contracts The fund may use futures and options contracts to hedge against changes in the values of securities the fund owns or expects to purchase, or for other investment purposes. The fund may also write options on swaps or securities it owns or in which it may invest to increase its current returns.

The potential risk to the fund is that the change in value of futures and options contracts may not correspond to the change in value of the hedged instruments. In addition, losses may arise from changes in the value of the underlying instruments, if there is an illiquid secondary market for the contracts, or if the counterparty to the contract is unable to perform. Risks may exceed amounts recognized on the statement of assets and liabilities. When the contract is closed, the fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Realized gains and losses on purchased options are included in realized gains and losses on investment securities. If a written call option is exercised, the premium originally received is recorded as an addition to sales proceeds. If a written put option is exercised, the premium originally received is recorded as a reduction to the cost of investments.

Futures contracts are valued at the quoted daily settlement prices established by the exchange on which they trade. The fund and the broker agree to exchange an amount of cash equal to the daily fluctuation in the value of the futures contract. Such receipts or payments are known as “variation margin.” Exchange traded options are valued at the last sale price or, if no sales are reported, the last bid price for purchased options and the last ask price for written options. Options traded over-the-counter are valued using prices supplied by dealers. Futures and written option contracts outstanding at period end, if any, are listed after the fund’s portfolio.

Interest rate swap contracts The fund may enter into interest rate swap contracts, which are arrangements between two parties to exchange cash flows based on a notional principal amount, to manage the fund’s exposure to interest rates. Interest rate swap contracts are marked-to-market daily based upon quotations from an independent pricing service or market makers and the change, if any, is recorded as unrealized gain or loss. Payments received or made are recorded as realized gains or loss. Certain interest rate swap contracts may include extended effective dates. Income related to these swap contracts is accrued based on the terms of the contract. The fund could be exposed to credit or market risk due to unfavorable changes in the fluctuation of interest rates or if the counterparty defaults on its obligation to perform. Risk of loss may exceed amounts recognized on the statement of assets and liabilities. Interest rate swap contracts outstanding at period end, if any, are listed after the fund’s portfolio.

For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com


Item 2. Controls and Procedures:

(a) The registrant's principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms.

(b) Changes in internal control over financial reporting: Not applicable

Item 3. Exhibits:

Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed herewith.

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.

Putnam Arizona Tax Exempt Income Fund

By (Signature and Title):

/s/ Michael T. Healy
Michael T. Healy
Principal Accounting Officer
Date: October 26, 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 (Signature and Title):

/s/ Charles E. Porter
Charles E. Porter
Principal Executive Officer
Date: October 26, 2006

By (Signature and Title):

/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: October 26, 2006


EX-99.CERT 2 b_cert.htm EX-99.CERT

Certifications

I, Charles E. Porter, the Principal Executive Officer of the funds listed on Attachment A, certify that:

1. I have reviewed each report on Form N-Q of the funds listed on Attachment A:

2. Based on my knowledge, each report does not contain any untrue statements 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 each report;

3. Based on my knowledge, the schedules of investments included in each 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 registrants 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 each 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 each registrant’s auditors and the audit committee of each 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 each 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 each registrant’s internal control over financial reporting.

/s/ Charles E. Porter
_____________________________
Date: October 25, 2006
Charles E. Porter
Principal Executive Officer


Certifications

I, Steven D. Krichmar, the Principal Financial Officer of the funds listed on Attachment A, certify that:

1. I have reviewed each report on Form N-Q of the funds listed on Attachment A:

2. Based on my knowledge, each report does not contain any untrue statements 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 each report;

3. Based on my knowledge, the schedules of investments included in each 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 registrants 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 each 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 each registrant’s auditors and the audit committee of each 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 each 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 each registrant’s internal control over financial reporting.

/s/ Steven D. Krichmar
_______________________________
Date: October 25, 2006
Steven D. Krichmar
Principal Financial Officer


Attachment A
NQ
Period (s) ended August 31, 2006

433  Putnam Capital Appreciation Fund 
060  Putnam High Yield Advantage Fund 
949  Putnam Classic Equity Fund 
012  Putnam Equity Income Fund 
398  Putnam Limited Duration Government Income Fund 
168  Putnam Tax Free Health Care Fund 
058  Putnam Investment Grade Municipal Trust 
590  Putnam Managed High Yield Trust 
030  Putnam New York Tax Exempt Income Fund 
846  Putnam Michigan Tax Exempt Income Fund 
019  Putnam New Jersey Tax Exempt Income Fund 
848  Putnam Ohio Tax Exempt Income Fund 
047  Putnam Pennsylvania Tax Exempt Income Fund 
847  Putnam Minnesota Tax Exempt Income Fund 
845  Putnam Massachusetts Tax Exempt Income Fund 
037  Putnam Florida Tax Exempt Income Fund 
855  Putnam Arizona Tax Exempt Income Fund 


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