-----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, NyygyFxZp/98GXoKDHUMyXxnNIk0clEJ9cHiUvflRczwPXC7PtHFNiVQiIi/PQpo Ba93U1eJeJOHg/HSTlGvcQ== 0000900092-07-000094.txt : 20070402 0000900092-07-000094.hdr.sgml : 20070402 20070402151100 ACCESSION NUMBER: 0000900092-07-000094 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070131 FILED AS OF DATE: 20070402 DATE AS OF CHANGE: 20070402 EFFECTIVENESS DATE: 20070402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MUNIYIELD CALIFORNIA FUND INC CENTRAL INDEX KEY: 0000882152 IRS NUMBER: 223144221 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06499 FILM NUMBER: 07738224 BUSINESS ADDRESS: STREET 1: 800 SCUDDERS MILL RD CITY: PLAINSBORO STATE: NJ ZIP: 08543-9011 BUSINESS PHONE: 6092822800 MAIL ADDRESS: STREET 1: P O BOX 9066 STREET 2: C/O MERRILL LYNCH ASSET MANAGEMENT CITY: PRINCETON STATE: NJ ZIP: 08543-9011 FORMER COMPANY: FORMER CONFORMED NAME: CALIFORNIA MUNIYIELD FUND INC DATE OF NAME CHANGE: 19600201 N-Q 1 ca.txt BLACKROCK MUNIYIELD CALIFORNIA 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 811-6499 Name of Fund: BlackRock MuniYield California 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 MuniYield California 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: 10/31/2007 Date of reporting period: 11/01/06 - 01/31/07 Item 1 - Schedule of Investments BlackRock MuniYield California Fund, Inc. Schedule of Investments as of January 31, 2007 (in Thousands)
Face Amount Municipal Bonds Value California - 124.1% $ 1,730 ABAG Finance Authority for Nonprofit Corporations, California, Revenue Refunding Bonds (Redwood Senior Homes and Services), 6% due 11/15/2022 $ 1,874 2,075 Antioch Area Public Facilities Financing Agency, California, Special Tax (Community Facilities District Number 1989-1), 5.70% due 8/01/2009 (a)(f) 2,196 2,820 Arcata, California, Joint Powers Financing Authority, Tax Allocation Revenue Refunding Bonds (Community Development Project Loan), Series A, 6% due 8/01/2023 (a) 2,825 2,500 Bakersfield, California, COP, Refunding (Convention Center Expansion Project), 5.80% due 4/01/2007 (b)(f) 2,534 10,000 Bay Area Toll Authority, California, Toll Bridge Revenue Refunding Bonds (San Francisco Bay Area), Series F, 5% due 4/01/2031 10,587 1,375 California Health Facilities Financing Authority Revenue Bonds (Kaiser Permanente), RIB, Series 26, 7.10% due 6/01/2022 (d)(h) 1,490 1,490 California Health Facilities Financing Authority, Revenue Refunding Bonds (Pomona Valley Hospital Medical Center), Series A, 5.625% due 7/01/2019 (b) 1,530 4,990 California Infrastructure and Economic Development Bank Revenue Bonds (J. David Gladstone Institute Project), 5.50% due 10/01/2022 5,301 2,120 California Infrastructure and Economic Development Bank, Revenue Refunding Bonds (The Salvation Army - Western Territory), 5% due 9/01/2027 (a) 2,246 3,000 California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds (Waste Management Inc. Project), AMT, Series A-2, 5.40% due 4/01/2025 3,185 420 California Rural Home Mortgage Finance Authority, Homebuyers Fund S/F Mortgage Revenue Bonds, AMT, Sub-Series FH-1, 5.50% due 8/01/2047 432 2,000 California Rural Home Mortgage Finance Authority, Homebuyers Fund S/F Mortgage Revenue Bonds (Mortgage-Backed Security Program), AMT, Series A, 5.40% due 12/01/2036 (c)(n) 2,115 40 California Rural Home Mortgage Finance Authority, S/F Mortgage Revenue Bonds (Mortgage-Backed Securities Program), AMT, Series B, 6.15% due 6/01/2020 (c) 41 5,000 California State Department of Veteran Affairs, Home Purchase Revenue Bonds, Sub-Series A-3, 4.60% due 12/01/2028 4,971 5,000 California State, GO, 5.125% due 4/01/2025 5,286 205 California State, GO, 5.50% due 4/01/2030 223
Portfolio Abbreviations To simplify the listings of BlackRock MuniYield California 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 GO General Obligation Bonds IDR Industrial Development Revenue Bonds M/F Multi-Family RIB Residual Interest Bonds S/F Single-Family BlackRock MuniYield California Fund, Inc. Schedule of Investments as of January 31, 2007 (concluded) (in Thousands)
Face Amount Municipal Bonds Value California (concluded) $ 620 California State, GO, Refunding, 5.75% due 5/01/2030 $ 658 2,785 California State, GO, Refunding (Veterans), AMT, Series BJ, 5.70% due 12/01/2032 2,843 2,000 California State Public Works Board, Lease Revenue Bonds (California State University), Series C, 5.40% due 10/01/2022 (b) 2,058 5,000 California State Public Works Board, Lease Revenue Bonds (Department of Corrections), Series C, 5.50% due 6/01/2023 5,447 4,000 California State Public Works Board, Lease Revenue Bonds (Department of Health Services), Series A, 5.75% due 11/01/2009 (b)(f) 4,257 17,000 California State Public Works Board, Lease Revenue Bonds (Various Community College Projects), Series A, 5.625% due 3/01/2016 (a) 17,349 6,850 California State, Various Purpose, GO, 5.50% due 11/01/2033 7,439 5,250 California Statewide Communities Development Authority, COP (John Muir/Mount Diablo Health System), 5.125% due 8/15/2022 (b) 5,384 3,270 California Statewide Communities Development Authority, Health Facility Revenue Bonds (Memorial Health Services), Series A, 6% due 10/01/2023 3,607 3,000 California Statewide Communities Development Authority, Health Facility Revenue Bonds (Memorial Health Services), Series A, 5.50% due 10/01/2033 3,163 6,975 California Statewide Communities Development Authority, Revenue Refunding Bonds (Kaiser Hospital Asset Management, Inc.), Series C, 5.25% due 8/01/2031 7,381 7,000 California Statewide Communities Development Authority, Revenue Refunding Bonds (Kaiser Permanente), Series A, 5% due 4/01/2031 7,254 2,380 California Statewide Communities Development Authority, Water Revenue Bonds (Pooled Financing Program), Series C, 5.25% due 10/01/2028 (d) 2,531 2,000 Chino Basin, California, Regional Financing Authority Revenue Bonds (Inland Empire Utility Agency Sewer Project), 5.75% due 11/01/2009 (b)(f) 2,129 5,000 Chula Vista, California, IDR, Refunding (San Diego Gas & Electric Co.), AMT, Series C, 5.25% due 12/01/2027 5,334 2,705 Contra Costa County, California, Public Financing Lease Revenue Refunding Bonds (Various Capital Facilities), Series A, 5.30% due 8/01/2020 (b) 2,786 3,750 Cucamonga, California, County Water District, COP, 5.125% due 9/01/2035 (e) 3,932 2,500 Davis, California, Joint Unified School District, Community Facilities District, Special Tax Refunding Bonds, Number 1, 5.50% due 8/15/2021 (b) 2,523 7,000 Fontana Unified School District, California, GO, Series A, 5.25% due 8/01/2028 (d) 7,511 4,000 Fremont, California, Unified School District, Alameda County, GO (Election of 2002), Series B, 5% due 8/01/2030 (d) 4,224 3,650 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement Revenue Bonds, Series A-4, 7.80% due 6/01/2042 4,434 9,390 Grant Joint Union High School District, California, GO (Election of 2006), 5% due 8/01/2029 (d) 9,857 5,595 Grossmont-Cuyamaca Community College District, California, GO (Election of 2002), Series B, 5% due 8/01/2029 (e) 5,916 5,000 Industry, California, Urban Development Agency, Tax Allocation Refunding Bonds (Civic-Recreational- Industrial Redevelopment Project Number 1), 5.50% due 5/01/2020 (b) 5,101 14,915 Industry, California, Urban Development Agency, Tax Allocation Refunding Bonds (Civic-Recreational- Industrial Redevelopment Project Number 1), 5.50% due 5/01/2021 (b) 15,231 4,745 Las Virgenes, California, Unified School District, GO, Series A, 5% due 8/01/2028 (d) 5,040 2,000 Los Angeles, California, COP (Sonnenblick Del Rio West Los Angeles), 6.20% due 11/01/2031 (a) 2,172 7,000 Los Angeles, California, Wastewater System Revenue Bonds, Series A, 5% due 6/01/2008 (e)(f) 7,197 4,500 Los Angeles, California, Wastewater System, Revenue Refunding Bonds, Subordinate Series A, 5% due 6/01/2027 (b) 4,698 3,780 Los Angeles County, California, Metropolitan Transportation Authority, Sales Tax Revenue Refunding Bonds, Proposition A, First Tier Senior-Series A, 5% due 7/01/2027 (a) 3,992 5,000 Los Angeles County, California, Public Works Financing Authority, Lease Revenue Bonds (Multiple Capital Facilities Project VI), Series A, 5.625% due 5/01/2010 (a)(f) 5,307 2,550 Los Angeles County, California, Sanitation Districts Financing Authority, Revenue Refunding Bonds (Capital Projects - District Number 14), Sub-Series B, 5% due 10/01/2030 (e) 2,695 1,000 Metropolitan Water District of Southern California, Waterworks Revenue Bonds, Series A, 5% due 7/01/2030 (d) 1,055 8,705 Modesto, California, Wastewater Treatment Facilities Revenue Bonds, 5.625% due 11/01/2007 (b)(f) 8,923 7,570 Morgan Hill, California, Unified School District, GO, 5% due 8/01/2026 (e)(g)(k) 3,191 6,675 Murrieta Valley, California, Unified School District, Public Financing Authority, Special Tax Revenue Bonds, Series A, 5.125% due 9/01/2026 (m) 7,141 6,240 Oakland, California, Alameda County Unified School District, GO (Election of 2000), 5% due 8/01/2027 (b) 6,575 3,290 Oakland, California, Alameda County Unified School District, GO, Series F, 5.50% due 8/01/2017 (b) 3,476 3,770 Oakland, California, Alameda County Unified School District, GO, Series F, 5.50% due 8/01/2018 (b) 3,978 5,250 Orange County, California, Sanitation District, COP, 5% due 2/01/2033 (e) 5,466 3,000 Oxnard, California, Financing Authority, Wastewater Revenue Bonds (Redwood Trunk Sewer and Headworks Projects), Series A, 5.25% due 6/01/2034 (e) 3,213 1,000 Palm Springs, California, Financing Authority, Lease Revenue Refunding Bonds (Convention Center Project), Series A, 5.50% due 11/01/2035 (b) 1,105 2,000 Peralta, California, Community College District, GO (Election of 2000), Series D, 5% due 8/01/2030 (d) 2,109 1,750 Pleasant Valley, California, School District, Ventura County, GO, Series C, 5.75% due 8/01/2025 (b)(g) 1,836 10,600 Port of Oakland, California, Port Revenue Refunding Bonds, Series I, 5.40% due 11/01/2017 (b) 10,938 4,315 Rancho Cucamonga, California, Redevelopment Agency, Tax Allocation Refunding Bonds (Rancho Redevelopment Project), 5.25% due 9/01/2020 (d) 4,491 2,345 Richmond, California, Redevelopment Agency, Tax Allocation, Refunding Bonds (Harbour Redevelopment Project), Series A, 5.50% due 7/01/2018 (b) 2,445 5,000 Sacramento, California, Municipal Utility District, Electric Revenue Refunding Bonds, Series L, 5.125% due 7/01/2022 (b) 5,122 2,500 Sacramento, California, Municipal Utility District Financing Authority, Revenue Bonds (Consumers Project), 5.125% due 7/01/2029 (b) 2,688 6,775 Sacramento County, California, Sanitation District Financing Authority, Revenue Refunding Bonds (County Sanitation District Number 1), 5% due 8/01/2035 (b) 7,159 3,455 Sacramento County, California, Sanitation District Financing Authority, Revenue Refunding Bonds, Series A, 5.60% due 12/01/2017 3,460 2,110 Salinas Valley, California, Solid Waste Authority, Revenue Refunding Bonds, AMT, 5.125% due 8/01/2022 (a) 2,191 8,000 San Bernardino, California, City Unified School District, GO, Refunding, Series A, 5.875% due 8/01/2009 (e)(f) 8,501 3,000 San Bernardino, California, Joint Powers Financing Authority, Lease Revenue Bonds (Department of Transportation Lease), Series A, 5.50% due 12/01/2020 (b) 3,034 5,010 San Diego County, California, Water Authority, Water Revenue Bonds, COP, Series A, 5% due 5/01/2031 (d) 5,255 6,000 San Francisco, California, Bay Area Rapid Transit District, Sales Tax Revenue Refunding Bonds, Series A, 5% due 7/01/2030 (b) 6,342 1,720 San Francisco, California, City and County Educational Facilities, GO (Community College), Series A, 5.75% due 6/15/2008 (f) 1,802 1,310 San Francisco, California, City and County Zoo Facilities, GO, Series B, 5.75% due 6/15/2008 (f) 1,372 4,615 San Jose, California, Airport Revenue Bonds, Series D, 5% due 3/01/2028 (b) 4,813 1,855 San Jose, California, Unified School District, Santa Clara County, GO (Election of 2002), Series B, 5% due 8/01/2029 (e) 1,962 10,005 San Jose-Evergreen, California, Community College District, Capital Appreciation, GO (Election of 2004), Refunding, Series A, 5.12% due 9/01/2023 (b)(k) 4,557 5,000 San Juan, California, Unified School District, GO (Election of 2002), 5% due 8/01/2028 (b) 5,226 2,020 Santa Clara, California, Unified School District, GO, 5.50% due 7/01/2021 (e) 2,147 3,500 Santa Clara County, California, Housing Authority, M/F Housing Revenue Bonds (John Burns Gardens Apartments Project), AMT, Series A, 6% due 8/01/2041 3,711 2,170 Santa Clarita, California, Community College District, GO (Election 2001), 5% due 8/01/2028 (d) 2,293 4,000 Santa Monica, California, Community College District, GO (Election of 2004), Series A, 5% due 5/01/2015 (b)(f) 4,218 4,000 Santa Monica, California, Redevelopment Agency, Tax Allocation Bonds (Earthquake Recovery Redevelopment Project), 6% due 7/01/2009 (a)(f) 4,255 2,500 Sequoia, California, Unified High School District, GO, Refunding, 5% due 7/01/2028 (d) 2,654 1,675 Shasta-Tehama-Trinity Joint Community College District, California, GO (Election of 2002), Series B, 5.25% due 8/01/2024 (d) 1,828 6,875 Sonoma County, California, Junior College District, GO (Election 2002), Refunding, Series B, 5% due 8/01/2028 (d) 7,265 2,265 South Bayside, California, Waste Management Authority, Waste System Revenue Bonds, 5.75% due 3/01/2020 (a) 2,394 1,600 Stockton, California, Public Financing Authority, Water Revenue Bonds (Water System Capital Improvement Projects), Series A, 5% due 10/01/2031 (b) 1,690 2,930 Stockton, California, Public Financing Revenue Bonds (Redevelopment Projects), Series A, 5.25% due 9/01/2034 (i) 3,109 3,235 Taft, California, Public Financing Authority, Lease Revenue Bonds (Community Correctional Facility), Series A, 6.05% due 1/01/2017 (b) 3,425 1,310 Torrance, California, Hospital Revenue Refunding Bonds (Torrance Memorial Medical Center), Series A, 6% due 6/01/2022 1,415 1,000 Ventura, California, Unified School District, GO (Election of 1997), Series H, 5.125% due 8/01/2034 (d) 1,060 3,990 Vernon, California, Electric System Revenue Bonds (Malburg Generating Station Project), 5.50% due 4/01/2008 (f) 4,077 5,000 Vista, California, Joint Powers Financing Authority, Lease Revenue Refunding Bonds, 5.625% due 5/01/2016 (b) 5,123 Puerto Rico - 3.0% 2,500 Puerto Rico Commonwealth, Public Improvement, GO, Series A, 5.25% due 7/01/2030 2,680 6,500 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series NN, 5.125% due 7/01/2029 6,787 U.S. Virgin Islands - 1.1% 3,000 Virgin Islands Government Refinery Facilities, Revenue Refunding Bonds (Hovensa Coker Project), AMT, 6.50% due 7/01/2021 3,376 Total Municipal Bonds (Cost - $394,500) - 128.2% 409,219 Municipal Bonds Held in Trust (o) California - 39.2% 9,000 Anaheim, California, Public Financing Authority, Electric System District Facilities Revenue Bonds, Series A, 5% due 10/01/2031 (d) 9,382 7,250 California Health Facilities Financing Authority Revenue Bonds (Kaiser Permanente), Series A, 5.50% due 6/01/2022 (d)(g) 7,552 10,210 Contra Costa County, California, Community College District, GO (Election of 2002), 5% due 8/01/2030 (d) 10,724 6,020 La Quinta, California, Financing Authority, Local Agency Revenue Bonds, Series A, 5.125% due 9/01/2034 (a) 6,385 13,500 Los Angeles, California, Unified School District, GO, Series A, 5% due 1/01/2028 (a) 14,470 10,460 Palm Desert, California, Financing Authority, Tax Allocation Revenue Refunding Bonds (Project Area Number 2), Series A, 5.125% due 8/01/2036 (a) 11,186 11,615 Port of Oakland, California, Revenue Refunding Bonds, AMT, Series L, 5.375% due 11/01/2027 (e) 12,299 16,000 Sacramento, California, Municipal Utility District Financing Authority, Revenue Bonds (Consumers Project), 5.125% due 7/01/2029 (b) 17,205 20,710 San Diego, California, Certificates of Undivided Interest Revenue Bonds (Water Utility Fund), 5.20% due 8/01/2024 (e) 21,290 5,430 San Francisco, California, Bay Area Rapid Transit District, Sales Tax Revenue Refunding Bonds, Series A, 5% due 7/01/2034 (b) 5,735 8,490 University of California, Limited Project Revenue Bonds, Series B, 5% due 5/15/2033 (d) 8,913 Total Municipal Bonds Held in Trust (Cost - $123,154) - 39.2% 125,141 Shares Held Short-Term Securities 15,961 CMA California Municipal Money Fund, 2.99% (j)(l) 15,961 Total Short-Term Securities (Cost - $15,961) - 5.0% 15,961 Total Investments (Cost - $533,615*) - 172.4% 550,321 Other Assets Less Liabilities - 1.1% 3,693 Liability for Trust Certificates, Including Interest Expense Payable - (18.7%) (59,604) Preferred Stock, at Redemption Value - (54.8%) (175,109) ----------- Net Assets Applicable to Common Stock - 100.0% $ 319,301 =========== * The cost and unrealized appreciation (depreciation) of investments as of January 31, 2007, as computed for federal income tax purposes, were as follows: Aggregate cost $ 474,579 ================ Gross unrealized appreciation $ 16,713 Gross unrealized depreciation (314) ---------------- Net unrealized appreciation $ 16,399 ================ (a) AMBAC Insured. (b) MBIA Insured. (c) FNMA/GNMA Collateralized. (d) FSA Insured. (e) FGIC Insured. (f) Prerefunded. (g) Escrowed to maturity. (h) The rate disclosed is that currently in effect. This rate changes periodically and inversely based upon prevailing market rates. (i) Radian Insured. (j) 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 CMA California Municipal Money Fund 11,968 $106 (k) Represents a zero coupon bond; the interest rate shown is the effective yield at the time of purchase. (l) Represents the current yield as of January 31, 2007. (m) Assured Guaranty Insured. (n) FHLMC Collateralized. (o) 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.
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 registrants 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 half-year of the period covered by this report 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 MuniYield California Fund, Inc. By: /s/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr. Chief Executive Officer BlackRock MuniYield California Fund, Inc. Date: March 26, 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 MuniYield California Fund, Inc. Date: March 26, 2007 By: /s/ Donald C. Burke -------------------- Donald C. Burke Chief Financial Officer BlackRock MuniYield California Fund, Inc. Date: March 26, 2007 EX-99.CERT 2 section302.txt 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 MuniYield California Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock MuniYield California 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: March 26, 2007 /s/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr. Chief Executive Officer BlackRock MuniYield California 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 MuniYield California Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock MuniYield California 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: March 26, 2007 /s/ Donald C. Burke ------------------- Donald C. Burke Chief Financial Officer BlackRock MuniYield California Fund, Inc. -----END PRIVACY-ENHANCED MESSAGE-----