-----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, GzkQoEPPUn58jslJm+e8kM1FAoZSUDFy+RGgoySXQBIGfvvkl3VR7Veq+HsrMZ3e iTUhz2JzF9S/gtBcv1N+Hg== 0000928816-07-001549.txt : 20071030 0000928816-07-001549.hdr.sgml : 20071030 20071030154134 ACCESSION NUMBER: 0000928816-07-001549 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070831 FILED AS OF DATE: 20071030 DATE AS OF CHANGE: 20071030 EFFECTIVENESS DATE: 20071030 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: 071199479 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_aztaxexpincfnd.htm PUTNAM ARIZONA TAX EXEMPT INCOME FUND a_aztaxexpincfnd.htm

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, 2008

Date of reporting period: August 31, 2007

Item 1. Schedule of Investments:


Putnam Arizona Tax Exempt Income Fund
The fund's portfolio
8/31/07 (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 (99.3%)(a)       
    Principal   
  Rating(RAT)  amount  Value 

Arizona (93.8%)       
Apache Cnty., Indl. Dev. Auth. Poll. Control Rev.       
Bonds (Tucson Elec. Pwr. Co.), Ser. A, 5.85s, 3/1/28  Baa3  $500,000  $502,405 
AZ Agricultural Impt. & Pwr. Dist. Elec. Syst. Rev.       
Bonds (Salt River), Ser. B, 5s, 1/1/22  Aa1  1,500,000  1,546,500 
AZ Game & Fish Dept. and Comm. Rev. Bonds (AGF       
Administration Bldg.), 5s, 7/1/21  A3  700,000  716,499 
AZ Hlth. Fac. Auth. Rev. Bonds (Bethesda Foundation),       
Ser. A, 6.4s, 8/15/27  BB-/P  400,000  402,440 
AZ Hlth. Fac. Auth. Hosp. Syst. Rev. Bonds (John C.       
Lincoln Hlth. Network), 7s, 12/1/25 (Prerefunded)  BBB  1,000,000  1,115,580 
AZ State Trans. Board Hwy. Rev. Bonds, Ser. B, 5s,       
7/1/22  AAA  2,000,000  2,071,140 
AZ State U. COP (Research Infrastructure), AMBAC, 5s,       
9/1/30  Aaa  1,000,000  1,017,090 
AZ State U. Rev. Bonds, FGIC, 5 7/8s, 7/1/25       
(Prerefunded)  Aaa  500,000  524,185 
AZ Tourism & Sports Auth. Tax Rev. Bonds       
(Multi-Purpose Stadium Fac.), Ser. A, MBIA       
5s, 7/1/31  Aaa  1,500,000  1,520,310 
5s, 7/1/25  Aaa  825,000  843,752 
Casa Grande, Indl. Dev. Auth. Rev. Bonds (Casa Grande       
Regl. Med. Ctr.), Ser. A, 7 1/4s, 12/1/19  B+/P  150,000  159,944 
Chandler, G.O. Bonds, FGIC, 8s, 7/1/10  Aaa  1,450,000  1,612,632 
Chandler, St. & Hwy. User Rev. Bonds, MBIA, 8s, 7/1/11  Aaa  1,100,000  1,264,098 
Chandler, Wtr. & Swr. Rev. Bonds, FGIC, 8s, 7/1/14  Aaa  2,150,000  2,651,638 
Cochise Cnty., Indl. Dev. Auth. Rev. Bonds (Sierra       
Vista Regl. Hlth. Ctr.), Ser. A, 6.2s, 12/1/21  BB+/P  480,000  491,904 
Gila Cnty., Unified School Dist. G.O. Bonds (No. 10       
Payson 2006 School Impt.), Ser. A, AMBAC,       
stepped-coupon 1s (5 1/4s, 7/1/09), 7/1/27 (STP)  Aaa  1,000,000  962,370 
Glendale, Indl. Dev. Auth. Rev. Bonds       
(Midwestern U.), Ser. A, 5 7/8s, 5/15/31 (Prerefunded)  AAA  1,500,000  1,626,330 
(John C. Lincoln Hlth.), Ser. B, 5 1/4s, 12/1/19  BBB  500,000  508,990 
(Midwestern U.), 5s, 5/15/26  A-  1,200,000  1,209,876 
Glendale, Wtr. & Swr. Rev. Bonds, AMBAC, 5s, 7/1/28  Aaa  1,615,000  1,651,709 
Greater AZ Infrastructure Dev. Auth. Rev. Bonds, Ser.       
B, MBIA, 5s, 8/1/27  Aaa  1,245,000  1,284,305 
Maricopa Cnty., Indl. Dev. Auth. Hlth. Fac. Rev. Bonds       
(Catholic Hlth. Care West), Ser. A, 5 1/4s, 7/1/32  A2  1,000,000  994,430 
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  4,155,515 
Maricopa Cnty., Poll. Control Rev. Bonds (Public       
Service Co. of New Mexico), Ser. A, 6.3s, 12/1/26  Baa2  1,000,000  1,009,350 
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  2,287,960 
(No. 006 WA Elementary 2004 School Impt.), Ser. A,       
FSA, U.S. Govt. Coll., 5s, 7/1/17 (Prerefunded)  Aaa  320,000  338,349 
(No. 11 Peoria Unified 2003 School Impt.), FGIC, 5s,       
7/1/09 (Prerefunded)  Aaa  20,000  20,474 
Maricopa Cnty., Unified High School Dist. G.O. Bonds       
(No. 210 Phoenix), FSA, 4 3/8s, 7/1/23  Aaa  1,000,000  965,030 
Mesa, Indl. Dev. Auth. Rev. Bonds (Discovery Hlth.       
Syst.), Ser. A, MBIA, 5 3/4s, 1/1/25 (Prerefunded)  Aaa  1,500,000  1,581,165 
Mesa, Util. Syst. Rev. Bonds, FGIC       
7 1/4s, 7/1/12  Aaa  365,000  421,546 
7 1/4s, 7/1/12 (Prerefunded)  Aaa  635,000  733,984 
Mohave Cnty., COP (Mohave Administration Bldg.),       
AMBAC, 5 1/4s, 7/1/19  Aaa  2,000,000  2,131,880 
Northern AZ U. Rev. Bonds       
FGIC, 6 1/2s, 6/1/09  Aaa  1,725,000  1,806,092 
AMBAC, 5s, 6/1/22  Aaa  1,145,000  1,191,498 
Oro Valley, Muni. Property Corp. Rev. Bonds (Sr. Lien       
Wtr.), MBIA, 5s, 7/1/23  Aaa  1,195,000  1,228,926 
Phoenix & Pima Cnty., Indl. Dev. Auth. Rev. Bonds       
(Single Fam.), Ser. 4, GNMA Coll., FNMA Coll., FHLMC       
Coll., 5.8s, 12/1/39  Aaa  1,000,000  1,041,650 
Phoenix, G.O. Bonds, Ser. B, 5s, 7/1/27  AAA  1,500,000  1,569,135 


 
Phoenix, Civic Impt. Corp. Arpt. Rev. Bonds       
(Sr. Lien), Ser. B, FGIC, 5 3/4s, 7/1/19  Aaa  1,000,000  1,059,800 
Ser. A, FSA, 5 1/4s, 7/1/14  Aaa  1,970,000  2,009,971 
Ser. A, FSA, 5 1/4s, 7/1/13  Aaa  1,620,000  1,653,923 
Ser. A, FSA, 5 1/4s, 7/1/11  Aaa  2,010,000  2,053,898 
Phoenix, Civic Impt. Corp. Dist. Rev. Bonds (Civic       
Plaza), Ser. B, FGIC       
zero %, 7/1/43  Aaa  1,000,000  801,370 
zero %, 7/1/32  Aaa  1,000,000  802,820 
Phoenix, Civic Impt. Corp. Excise Tax Rev. Bonds       
(Civic Plaza Expansion), Ser. A, FGIC, 5s, 7/1/22  Aaa  1,000,000  1,040,630 
Ser. A, MBIA, 4 3/4s, 7/1/26  Aaa  1,415,000  1,416,005 
Phoenix, Civic Impt. Corp. Waste Wtr. Syst. Rev.       
Bonds, MBIA, 5s, 7/1/28  Aaa  1,000,000  1,021,960 
Phoenix, Hsg. Mtge. Fin. Corp. Rev. Bonds (Section 8       
Assistances), Ser. A, MBIA, FHA Insd., 6.9s, 1/1/23  Aaa  1,040,000  1,042,600 
Phoenix, Indl. Dev. Auth. Govt. Office Lease Rev.       
Bonds (Capitol Mall, LLC II), AMBAC, 5s, 9/15/28  Aaa  1,000,000  1,016,170 
Phoenix, Indl. Dev. Auth. VRDN (Valley of the Sun       
YMCA), 3.98s, 1/1/31  A-1+  1,519,000  1,519,000 
Pima Cnty., Indl. Dev. Auth. Rev. Bonds (Horizon       
Cmnty. Learning Ctr.), 5.05s, 6/1/25  BBB-  125,000  116,258 
Queen Creek, Special Assmt. Bonds (Dist. No. 001), 5s,       
1/1/26  Baa2  200,000  193,460 
Scottsdale, G.O. Bonds (Projects 1999 & 2000), 5s,       
7/1/24  Aaa  510,000  522,429 
Scottsdale, Indl. Dev. Auth. Hosp. Rev. Bonds       
(Scottsdale Memorial Hosp.), Ser. A, AMBAC, 6 1/8s,       
9/1/17  Aaa  1,000,000  1,020,000 
(Scottsdale Hlth. Care), 5.8s, 12/1/31 (Prerefunded)  A3  500,000  541,610 
(Scottsdale Hlth. Care), 5.7s, 12/1/21 (Prerefunded)  A3  1,000,000  1,079,350 
Snowflake, Excise Tax Rev. Bonds, 5s, 7/1/18  A  960,000  965,712 
South Campus Group, LLC Student Hsg. Rev. Bonds (AZ       
State U. South Campus), MBIA       
5 5/8s, 9/1/28  Aaa  1,250,000  1,354,450 
5 5/8s, 9/1/23  Aaa  640,000  692,774 
Tempe, Indl. Dev. Auth. Lease Rev. Bonds (ASU       
Foundation), AMBAC, 5s, 7/1/28  Aaa  2,215,000  2,259,654 
Tempe, Indl. Dev. Auth. Sr. Living Rev. Bonds       
(Friendship Village), Ser. A, 5 3/8s, 12/1/13  BB-/P  200,000  201,980 
Tucson & Pima Cnty., Indl. Dev. Auth. Rev. Bonds       
(Single Fam. Mtge.)       
Ser. 1A, GNMA Coll., 5 1/2s, 1/1/35  AAA  1,330,000  1,350,735 
Ser. B, GNMA Coll., FNMA Coll., FHLMC Coll., 5.35s,       
6/1/47  Aaa  1,000,000  1,006,170 
Tucson, Indl. Dev. Auth. Sr. Living Fac. Rev. Bonds       
(Christian Care), Ser. A, 6s, 7/1/30 (Prerefunded)  AA  1,000,000  1,068,390 
U. of AZ, COP (U. of AZ Parking & Student Hsg.),       
AMBAC, 5 3/4s, 6/1/24 (Prerefunded)  Aaa  2,000,000  2,070,360 
Vistancia, Cmnty. Fac. Dist. G.O. Bonds, 4.4s, 7/15/21  Baa1  1,100,000  1,025,486 
Yavapai Cnty., Indl. Dev. Auth. Rev. Bonds (Yavapai       
Regl. Med. Ctr.), Ser. A, 6s, 8/1/33  Baa2  1,000,000  1,020,820 
Yavapai Cnty., Indl. Dev. Auth. Solid Waste Disp. Rev.       
Bonds (Waste Mgmt., Inc.), Ser. A-1, 4.9s, 3/1/28  BBB  500,000  447,890 
      77,536,356 

 
Puerto Rico (3.5%)       
Cmnwlth. of PR, Hwy. & Trans. Auth. Rev. Bonds, Ser.       
K, 5s, 7/1/17  BBB+  1,000,000  1,038,610 
Cmnwlth. of PR, Pub. Bldg. Auth. Rev. Bonds (Govt.       
Fac.), Ser. I, 5 1/4s, 7/1/29  Baa3  500,000  510,590 
PR Indl. Tourist Edl. Med. & Env. Control Fac. Rev.       
Bonds (Cogen. Fac.-AES), 6 5/8s, 6/1/26  Baa3  1,000,000  1,060,820 
PR Sales Tax Fin. Corp. Rev. Bonds, Ser. A, FGIC, zero       
%, 8/1/41  Aaa  1,500,000  264,885 
      2,874,905 

 
Virgin Islands (2.0%)       
VI Pub. Fin. Auth. Rev. Bonds       
FGIC, 5s, 10/1/24  Aaa  500,000  520,705 
(Hovensa Refinery Fac.), 4.7s, 7/1/22  BBB  400,000  365,924 
VI Tobacco Settlement Fin. Corp. Rev. Bonds, 5s,       
5/15/31  Baa3  845,000  794,680 
      1,681,309 
 
 
TOTAL INVESTMENTS       

Total investments (cost $80,068,965) (b)      $82,092,570 


INTEREST RATE SWAP CONTRACTS OUTSTANDING at 8/31/07 (Unaudited)     
    Payments  Payments   
Swap counterparty /  Termination  made by  received by  Unrealized 
Notional amount  date  fund per annum  fund per annum  depreciation 

Goldman Sachs International         
$850,000  (E) 2/28/18  3.846%  USD-SIFMA Municipal Swap   
      Index  $(3,027) 
 
 
(E) See Interest rate swap contracts note regarding extended effective dates.     


TOTAL RETURN SWAP CONTRACTS OUTSTANDING at 8/31/07 (Unaudited)     
    Fixed payments  Total return   
Swap counterparty /  Termination  received (paid) by  received by  Unrealized 
Notional amount  date  fund per annum  or paid by fund  appreciation 

Goldman Sachs International         
$500,000 (F)  2/28/08  --  Municipal Market  $94 
      Data AAA   
      municipal 10   
      Year rate   

 
Lehman Brothers Special Financing, Inc.         
500,000  2/29/08  --  4.27% minus  58 
      Lehman Brothers   
      Municipal Swap   
      Index   

 
Total        $152 
 
(F) Is valued at fair value following procedures approved by the Trustees.     


NOTES

(a) Percentages indicated are based on net assets of $82,709,328.

(RAT) The Moody's or Standard & Poor's ratings indicated are believed to be the most recent ratings available at August 31, 2007 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, 2007. Securities rated by Putnam are indicated by "/P." Securities rated by Fitch are indicated by "/F." Security ratings are defined in the Statement of Additional Information.

(b) The aggregate identified cost on a tax basis is $80,068,965, resulting in gross unrealized appreciation and depreciation of $2,742,285 and $718,680, respectively, or net unrealized appreciation of $2,023,605.

(STP) The interest rate and date shown parenthetically represent the new interest rate to be paid and the date the fund will begin accruing interest at this rate.

At August 31, 2007, liquid assets totaling $123 have been designated as collateral for open swap contracts.

The rates shown on VRDN are the current interest rates at August 31, 2007.

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

The fund had the following sector concentrations greater than 10% at August 31, 2007 (as a percentage of net assets):

Health care  17.3% 
Local government  17.3 
Utilities and power  14.3 
Education  11.5 
 
 
The fund had the following insurance concentrations greater than 10% at August 31, 2007 (as a percentage of net assets):   
 
MBIA  23.8% 
AMBAC  16.1 
FGIC  14.8 

Security valuation Tax-exempt bonds and notes are generally valued 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. Certain investments and derivatives are also 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.

Total return swap contracts The fund may enter into total return swap contracts, which are arrangements to exchange a market-linked return for a periodic payment, both based on a notional principal amount. To the extent that the total return of the security or index underlying the transaction exceeds or falls short of the offsetting interest rate obligation, the fund will receive a payment from or make a payment to the counterparty. Total return swap contracts are marked-to-market daily based upon quotations from 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 total return 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 in the price of the underlying security or index, the possibility that there is no liquid market for these agreements or that the counterparty may default on its obligation to perform. Risk of loss may exceed amounts recognized on the statement of assets and liabilities. Total return swap 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:

During the period, Putnam Fiduciary Trust Company, the fund's transfer agent, began utilizing shareholder systems and systems support provided by DST Systems, Inc. and certain of its affiliates.

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/ Janet C. Smith
Janet C. Smith
Principal Accounting Officer
Date: October 30, 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 (Signature and Title):

/s/ Charles E. Porter
Charles E. Porter
Principal Executive Officer
Date: October 30, 2007

By (Signature and Title):

/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: October 30, 2007


EX-99.CERT 2 b_cert.htm EX-99.CERT b_855cert.htm

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 29, 2007
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 29, 2007
Steven D. Krichmar
Principal Financial Officer


Attachment A
NQ
Period (s) ended August 31, 2007

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 
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 
855  Putnam Arizona Tax Exempt Income Fund 


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