-----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, TerwktER0SoY8h8zoR8zi7BT8FrT2BfUxLWibANTc8crN2bf1essK2S+LAP0a3c9 JUx8jhMle++KzzPAoi+tWw== 0000900092-08-000097.txt : 20080331 0000900092-08-000097.hdr.sgml : 20080331 20080328175301 ACCESSION NUMBER: 0000900092-08-000097 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080131 FILED AS OF DATE: 20080331 DATE AS OF CHANGE: 20080328 EFFECTIVENESS DATE: 20080331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK 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: 08720925 BUSINESS ADDRESS: STREET 1: P O BOX 9066 CITY: PRINCETON STATE: NJ ZIP: 08543-9011 BUSINESS PHONE: 6092822800 MAIL ADDRESS: STREET 1: P O BOX 9066 CITY: PRINCETON STATE: NJ ZIP: 08543-9011 FORMER COMPANY: FORMER CONFORMED NAME: MUNIYIELD CALIFORNIA FUND INC DATE OF NAME CHANGE: 19920717 FORMER COMPANY: FORMER CONFORMED NAME: CALIFORNIA MUNIYIELD FUND INC DATE OF NAME CHANGE: 19600201 N-Q 1 final.htm MUNIYIELD CALIFORNIA california -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

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 811-06499

Name of Fund: BlackRock MuniYield California Fund, Inc. (MYC)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, 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: (800) 882-0052, Option 4

Date of fiscal year end: 10/31/2008

Date of reporting period: 11/01/2007 – 01/31/2008

Item 1 – Schedule of Investments


BlackRock MuniYield California Fund, Inc.     
Schedule of Investments as of January 31, 2008 (Unaudited)    (in Thousands) 

 
    Face         
    Amount    Municipal Bonds    Value 

 
 
 
 California - 134.1%    $ 1,730    ABAG Finance Authority for Nonprofit Corporations, California, Revenue Refunding Bonds (Redwood Senior Homes     
        Services), 6% due 11/15/2022    $ 1,824 
   
 
 
    2,725    Arcata, California, Joint Powers Financing Authority, Tax Allocation Revenue Refunding Bonds (Community     
        Development Project Loan), Series A, 6% due 8/01/2023 (a)    2,731 
   
 
 
    10,000    California Health Facilities Financing Authority Revenue Bonds (Kaiser Permanente), Series A, 5.50%     
        due 6/01/2022 (d)(g)    10,275 
   
 
 
    4,990    California Infrastructure and Economic Development Bank Revenue Bonds (J. David Gladstone Institute Project),     
        5.50% due 10/01/2022    5,239 
   
 
 
    2,700    California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds (Republic Services Inc.     
        Project), AMT, Series B, 5.25% due 6/01/2023    2,807 
   
 
 
    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    2,973 
   
 
 
    2,000    California Pollution Control Financing Authority, Solid Waste Disposal Revenue Refunding Bonds (Republic     
        Services Inc. Project), AMT, Series C, 5.25% due 6/01/2023    2,079 
   
 
 
    4,500    California Pollution Control Financing Authority, Solid Waste Disposal Revenue Refunding Bonds (Waste     
        Management Inc. Project), AMT, Series B, 5% due 7/01/2027    4,165 
   
 
 
    1,980    California Rural Home Mortgage Finance Authority, S/F Mortgage Revenue Bonds (Mortgage-Backed Securities     
        Program), AMT, Series A, 5.40% due 12/01/2036 (c)(i)    2,105 
   
 
 
    35    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)    36 
   
 
 
    420    California Rural Home Mortgage Finance Authority, S/F Mortgage Revenue Bonds (Mortgage-Backed Securities     
        Program), AMT, Sub-Series FH-1, 5.50% due 8/01/2047    435 
   
 
 
    2,500    California State Enterprise Authority, Sewer Facility Revenue Bonds (Anheuser-Busch Project), AMT,     
        5.30% due 9/01/2047    2,438 
   
 
 
    5,000    California State, GO, 5.125% due 4/01/2025    5,128 
   
 
 
    5    California State, GO, 5.50% due 4/01/2030    5 
   
 
 
    170    California State, GO, Refunding, 5.75% due 5/01/2010 (f)    185 
   
 
 
    2,475    California State, GO, Refunding, 5% due 9/01/2029    2,499 
   
 
 
    450    California State, GO, Refunding, 5.75% due 5/01/2030    473 
   
 
 
    3,000    California State, GO, Refunding, 5% due 6/01/2037    3,004 
   
 
 
    2,785    California State, GO, Refunding (Veterans), AMT, Series BJ, 5.70% due 12/01/2032    2,803 

 
 
 

1

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)    M/F    Multi-Family 
COP    Certificates of Participation    ROCS    Reset Option Certificates 
GO    General Obligation Bonds    S/F    Single-Family 
HFA    Housing Finance Agency    VRDN    Variable Rate Demand Notes 


BlackRock MuniYield California Fund, Inc.     
Schedule of Investments as of January 31, 2008 (Unaudited)    (in Thousands) 

 
Face         
Amount    Municipal Bonds    Value 

 
 
$ 2,000    California State Public Works Board, Lease Revenue Bonds (California State University), Series C, 5.40%     
    due 10/01/2022 (b)    $ 2,043 

 
 
5,000    California State Public Works Board, Lease Revenue Bonds (Department of Corrections), Series C, 5.50%     
    due 6/01/2023    5,346 

 
 
4,000    California State Public Works Board, Lease Revenue Bonds (Department of Health Services), Series A, 5.75%     
    due 11/01/2009 (b)(f)    4,276 

 
 
6,850    California State, Various Purpose, GO, 5.50% due 11/01/2033    7,230 

 
 
5,250    California Statewide Communities Development Authority, COP (John Muir/Mount Diablo Health System),     
    5.125% due 8/15/2022 (b)    5,361 

 
 
3,270    California Statewide Communities Development Authority, Health Facility Revenue Bonds (Memorial Health     
    Services), Series A, 6% due 10/01/2023    3,498 

 
 
3,000    California Statewide Communities Development Authority, Health Facility Revenue Bonds (Memorial Health     
    Services), Series A, 5.50% due 10/01/2033    3,063 

 
 
3,665    California Statewide Communities Development Authority Revenue Bonds (Daughters of Charity National Health     
    System), Series A, 5.25% due 7/01/2030    3,557 

 
 
10,000    California Statewide Communities Development Authority Revenue Bonds (Kaiser Permanente), Series B, 5.25%     
    due 3/01/2045    10,039 

 
 
6,975    California Statewide Communities Development Authority, Revenue Refunding Bonds (Kaiser Hospital Asset     
    Management, Inc.), Series C, 5.25% due 8/01/2031    7,090 

 
 
3,500    California Statewide Communities Development Authority, Revenue Refunding Bonds (Kaiser Permanente),     
    Series A, 5% due 4/01/2031    3,495 

 
 
5,000    California Statewide Communities Development Authority, Revenue Refunding Bonds (Kaiser Permanente), Series A,     
    4.75% due 4/01/2033    4,746 

 
 
2,380    California Statewide Communities Development Authority, Water Revenue Bonds (Pooled Financing Program),     
    Series C, 5.25% due 10/01/2028 (d)    2,489 

 
 
2,015    Chino Basin, California, Regional Financing Authority, Revenue Refunding Bonds (Inland Empire Utility Agency),     
    Series A, 5% due 11/01/2033 (a)    2,051 

 
 
1,660    Chino Basin, California, Regional Financing Authority, Revenue Refunding Bonds (Inland Empire Utility Agency),     
    Series A, 5% due 11/01/2038 (a)    1,685 

 
 
2,705    Contra Costa County, California, Public Financing Authority, Lease Revenue Refunding Bonds (Various Capital     
    Series A, 5.30% due 8/01/2020 (b)    2,759 

 
 
3,750    Cucamonga, California, County Water District, COP, 5.125% due 9/01/2035 (e)    3,823 

 
 
2,200    Etiwanda School District, California, Public Financing Authority, Local Agency Revenue Refunding Bonds,     
    5% due 9/15/2032 (m)    2,266 

 
 
7,000    Fontana Unified School District, California, GO, Series A, 5.25% due 8/01/2028 (d)    7,386 

 
 
4,000    Fremont, California, Unified School District, Alameda County, GO (Election of 2002), Series B, 5% due 8/01/2030 (d)    4,165 

 
 
5,500    Golden State Tobacco Securitization Corporation of California, Tobacco Settlement Revenue Refunding Bonds, Senior     
    Series A-1, 5.125% due 6/01/2047    4,754 

 
 
9,390    Grant Joint Union High School District, California, GO (Election of 2006), 5% due 8/01/2029 (d)    9,743 

 
 

2


BlackRock MuniYield California Fund, Inc.     
Schedule of Investments as of January 31, 2008 (Unaudited)    (in Thousands) 

 
Face         
Amount    Municipal Bonds    Value 

 
 
$ 5,195    Long Beach, California, Harbor Revenue Bonds, AMT, Series A, 5.25% due 5/15/2023 (e)    $ 5,315 

 
 
2,000    Los Angeles, California, COP (Sonnenblick Del Rio West Los Angeles), 6.20% due 11/01/2031 (a)    2,145 

 
 
10,000    Los Angeles, California, Community College District, GO (Election of 2003), Series E, 5% due 8/01/2031 (d)    10,458 

 
 
7,000    Los Angeles, California, Wastewater System Revenue Bonds, Series A, 5% due 6/01/2008 (e)(f)    7,138 

 
 
4,500    Los Angeles, California, Wastewater System Revenue Refunding Bonds, Sub-Series A, 5% due 6/01/2027 (b)    4,610 

 
 
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)    3,920 

 
 
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)    5,366 

 
 
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)    2,585 

 
 
5,885    Marin, California, Community College District, GO (Election of 2004), Series A, 5% due 8/01/2028 (b)    6,116 

 
 
1,000    Metropolitan Water District of Southern California, Waterworks Revenue Bonds, Series A, 5% due 7/01/2030 (d)    1,042 

 
 
1,240    Metropolitan Water District of Southern California, Waterworks Revenue Bonds, Series A, 5% due 7/01/2032    1,301 

 
 
7,570    Morgan Hill, California, Unified School District, GO, 5% due 8/01/2026 (e)(g)(k)    3,194 

 
 
2,000    Mount Diablo, California, Unified School District, GO (Election of 2002), 5% due 6/01/2028 (b)    2,077 

 
 
6,675    Murrieta Valley, California, Unified School District, Public Financing Authority, Special Tax Revenue Bonds,     
    Series A, 5.125% due 9/01/2026 (m)    7,013 

 
 
6,240    Oakland, California, Alameda County Unified School District, GO (Election of 2000), 5% due 8/01/2027 (b)    6,331 

 
 
3,290    Oakland, California, Alameda County Unified School District, GO, Series F, 5.50% due 8/01/2010 (b)(f)    3,546 

 
 
3,770    Oakland, California, Alameda County Unified School District, GO, Series F, 5.50% due 8/01/2010 (b)(f)    4,064 

 
 
5,250    Orange County, California, Sanitation District, COP, 5% due 2/01/2033 (e)    5,295 

 
 
3,000    Oxnard, California, Financing Authority, Wastewater Revenue Bonds (Redwood Trunk Sewer and     
    Headworks Projects), Series A, 5.25% due 6/01/2034 (e)    3,140 

 
 
5,230    Palm Desert, California, Financing Authority, Tax Allocation Revenue Refunding Bonds, ROCS, VRDN,     
    Series II-R-590X, 3.84% due 8/01/2036 (a)(n)    5,230 

 
 
1,000    Palm Springs, California, Financing Authority, Lease Revenue Refunding Bonds (Convention Center Project),     
    Series A, 5.50% due 11/01/2035 (b)    1,077 

 
 
18,500    Palomar Pomerado Health Care District, California, GO (Election of 2004), Series A, 5.125% due 8/01/2037 (b)    19,226 

 
 
2,000    Peralta, California, Community College District, GO (Election of 2000), Series D, 5% due 8/01/2030 (d)    2,082 

 
 
1,750    Pleasant Valley, California, School District, Ventura County, GO, Series C, 5.75% due 8/01/2025 (b)(g)    1,807 

 
 
4,315    Rancho Cucamonga, California, Redevelopment Agency, Tax Allocation Refunding Bonds (Rancho Redevelopment     
    Project), 5.25% due 9/01/2020 (d)    4,492 

 
 
2,345    Richmond, California, Redevelopment Agency, Tax Allocation Refunding Bonds (Harbour Redevelopment Project),     
    Series A, 5.50% due 7/01/2018 (b)    2,414 

 
 
5,000    Sacramento, California, Municipal Utility District, Electric Revenue Refunding Bonds, Series L, 5.125%     
    due 7/01/2022 (b)    5,104 

 
 
2,500    Sacramento, California, Municipal Utility District Financing Authority Revenue Bonds (Consumers Project),     
    5.125% due 7/01/2029 (b)    2,469 

 
 

3


BlackRock MuniYield California Fund, Inc.     
Schedule of Investments as of January 31, 2008 (Unaudited)    (in Thousands) 

 
Face         
Amount    Municipal Bonds    Value 

 
 
$ 5,375    Sacramento County, California, Sanitation District Financing Authority, Revenue Refunding Bonds (County     
    Sanitation District Number 1), 5% due 8/01/2035 (b)    $ 5,541 

 
 
3,455    Sacramento County, California, Sanitation District Financing Authority, Revenue Refunding Bonds, Series A,     
    5.60% due 12/01/2017    3,464 

 
 
2,110    Salinas Valley, California, Solid Waste Authority, Revenue Refunding Bonds, AMT, 5.125% due 8/01/2022 (a)    2,164 

 
 
8,000    San Bernardino, California, City Unified School District, GO, Refunding, Series A, 5.875% due 8/01/2009 (e)(f)    8,524 

 
 
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)    3,006 

 
 
20,710    San Diego, California, Certificates of Undivided Interest, Water Utility Fund, Net System Revenue Bonds,     
    5.20% due 8/01/2024 (e)    21,089 

 
 
10,000    San Diego, California, Unified School District, GO (Election of 1998), Refunding, Series F-1, 4.50% due 7/01/2029 (d)    9,864 

 
 
5,010    San Diego County, California, Water Authority, Water Revenue Bonds, COP, Series A, 5% due 5/01/2031 (d)    5,132 

 
 
6,000    San Francisco, California, Bay Area Rapid Transit District, Sales Tax Revenue Refunding Bonds, Series A, 5%     
    due 7/01/2030 (b)    6,206 

 
 
1,720    San Francisco, California, City and County Educational Facilities, GO (Community College), Series A,     
    5.75% due 6/15/2008 (f)    1,777 

 
 
1,310    San Francisco, California, City and County Zoo Facilities, GO, Series B, 5.75% due 6/15/2008 (f)    1,354 

 
 
4,615    San Jose, California, Airport Revenue Bonds, Series D, 5% due 3/01/2028 (b)    4,661 

 
 
1,855    San Jose, California, Unified School District, Santa Clara County, GO (Election of 2002), Series B, 5% due 8/01/2029    1,923 

 
 
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)    4,612 

 
 
5,000    San Juan, California, Unified School District, GO (Election of 2002), 5% due 8/01/2028 (b)    5,126 

 
 
2,020    Santa Clara, California, Unified School District, GO, 5.50% due 7/01/2021 (e)    2,152 

 
 
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    3,617 

 
 
2,170    Santa Clarita, California, Community College District, GO (Election 2001), 5% due 8/01/2028 (d)    2,264 

 
 
4,000    Santa Monica, California, Redevelopment Agency, Tax Allocation Bonds (Earthquake Recovery Redevelopment     
    Project), 6% due 7/01/2009 (a)(f)    4,257 

 
 
2,500    Sequoia, California, Unified High School District, GO, Refunding, 5% due 7/01/2028 (d)    2,619 

 
 
1,675    Shasta-Tehama-Trinity Joint Community College District, California, GO (Election of 2002), Series B,     
    5.25% due 8/01/2024 (d)    1,825 

 
 
6,875    Sonoma County, California, Junior College District, GO (Election 2002), Refunding, Series B, 5% due 8/01/2028 (d)    7,176 

 
 
2,265    South Bayside, California, Waste Management Authority, Waste System Revenue Bonds, 5.75% due 3/01/2020 (a)    2,372 

 
 
3,000    Southern California HFA, S/F Mortgage Revenue Bonds, AMT, Series A, 5.80% due 12/01/2049 (c)(i)    3,258 

 
 
6,750    Southern California Public Power Authority, Natural Gas Project Number 1, Revenue Bonds, Series A, 5%     
    due 11/01/2033    6,503 

 
 
1,600    Stockton, California, Public Financing Authority, Water Revenue Bonds (Water System Capital Improvement     
    Projects), Series A, 5% due 10/01/2031 (b)    1,655 

 
 
3,235    Taft, California, Public Financing Authority, Lease Revenue Bonds (Community Correctional Facility),     
    Series A, 6.05% due 1/01/2017 (b)    3,489 

 
 

4


BlackRock MuniYield California Fund, Inc.         
Schedule of Investments as of January 31, 2008 (Unaudited)    (in Thousands) 

 
    Face             
    Amount    Municipal Bonds        Value 

 
 
 
 
$ 1,310    Torrance, California, Hospital Revenue Refunding Bonds (Torrance Memorial Medical Center),         
        Series A, 6% due 6/01/2022    $ 1,396 

 
 
 
    4,745    Vacaville, California, Unified School District, GO (Election of 2001), 5% due 8/01/2030 (b)        4,928 

 
 
 
 
    1,000    Ventura, California, Unified School District, GO (Election of 1997), Series H, 5.125% due 8/01/2034 (d)        1,053 

 
 
 
 
 Puerto Rico - 0.3%    875    Puerto Rico Commonwealth, Public Improvement, GO, Series A, 5.25% due 7/01/2030        874 

 
 
 
 
 U.S. Virgin Islands -    3,000    Virgin Islands Government Refinery Facilities, Revenue Refunding Bonds (Hovensa Coker Project),         
 1.0%        AMT, 6.50% due 7/01/2021        3,133 

 
 
 
 
        Total Municipal Bonds (Cost - $410,442) - 135.4%        417,640 

 
 
 
 
        Municipal Bonds Transferred to Tender Option Bond Trusts (h)         

 
 
 
 
 California - 25.5%    9,000    Anaheim, California, Public Financing Authority, Electric System District Facilities Revenue Bonds, Series A, 5% due     
        10/01/2031 (d)        9,356 

 
 
 
 
    10,210    Contra Costa County, California, Community College District, GO (Election of 2002), 5% due 8/01/2030 (d)        10,582 

 
 
 
 
    6,020    La Quinta, California, Financing Authority, Local Agency Revenue Bonds, Series A, 5.125% due 9/01/2034 (a)        6,057 

 
 
 
 
    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)        10,528 

 
 
 
 
    11,615    Port of Oakland, California, Revenue Refunding Bonds, AMT, Series L, 5.375% due 11/01/2027 (e)        11,899 

 
 
 
 
    16,000    Sacramento, California, Municipal Utility District Financing Authority, Revenue Bonds (Consumers Project), 5.125%     
        due 7/01/2029 (b)        15,805 

 
 
 
 
    5,430    San Francisco, California, Bay Area Rapid Transit District, Sales Tax Revenue Refunding Bonds, Series A, 5%         
        due 7/01/2034 (b)        5,600 

 
 
 
 
    8,490    University of California, Limited Project Revenue Bonds, Series B, 5% due 5/15/2033 (d)        8,771 

 
 
 
 
        Total Municipal Bonds Transferred to Tender Option Bond Trusts (Cost - $79,819) - 25.5%        78,598 

 
 
 
 
    Shares             
    Held    Short-Term Securities         

 
 
 
 
    14,510    CMA California Municipal Money Fund, 2.12% (j)(l)        14,510 

 
 
 
 
        Total Short-Term Securities (Cost - $14,510) - 4.7%        14,510 

 
 
 
 
        Total Investments (Cost - $504,771*) - 165.6%        510,748 
        Other Assets Less Liabilities - 3.8%        11,718 
        Liability for Trust Certificates, Including Interest Expense Payable - (12.6%)        (38,991) 
        Preferred Stock, at Redemption Value - (56.8%)        (175,115) 
           
 
        Net Assets Applicable to Common Stock - 100.0%    $ 308,360 
           

  * The cost and unrealized appreciation (depreciation) of investments as of January 31, 2008, as computed for federal
income tax purposes, were as follows:

Aggregate cost    $ 467,179 
   
Gross unrealized appreciation    $ 9,149 
Gross unrealized depreciation    (4,192) 
Net unrealized appreciation    $ 4,957 
   

5


BlackRock MuniYield California Fund, Inc.
Schedule of Investments as of January 31, 2008 (Unaudited) (in Thousands)

(a)      AMBAC Insured.
 
(b)      MBIA Insured.
 
(c)      FNMA/GNMA Collateralized.
 
(d)      FSA Insured.
 
(e)      FGIC Insured.
 
(f)      Prerefunded.
 
(g)      Escrowed to maturity.
 
(h)      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.
 
(i)      FHLMC Collateralized.
 
(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    10,517    $101 

 
 

(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, 2008.
 
(m)      Assured Guaranty Insured.
 
(n)      Variable rate security. Rate shown is interest rate as of the report date.
 

6


Item 2 – Controls and Procedures

2(a) – The registrant’s principal executive and principal financial officers or persons performing
similar functions have concluded that the registrant’s disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the
“1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the
evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act
and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

2(b) – There were no changes in the registrant’s internal control over financial reporting (as
defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal
quarter that have materially affected, or are reasonably likely to materially 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/ Donald C. Burke

  Donald C. Burke
Chief Executive Officer of
BlackRock MuniYield California Fund, Inc.

  Date: March 24, 2008

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/ Donald C. Burke
Donald C. Burke
Chief Executive Officer (principal executive officer) of
BlackRock MuniYield California Fund, Inc.

  Date: March 24, 2008

  By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock MuniYield California Fund, Inc.

Date: March 24, 2008


EX-99.CERT 2 certs.htm CERTIFICATIONS certs.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EX-99. CERT
CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF
THE SARBANES-OXLEY ACT OF 2002

I, Donald C. Burke, Chief Executive Officer (principal 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 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(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 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(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 24, 2008

/s/ Donald C. Burke
Donald C. Burke
Chief Executive Officer (principal executive officer) of
BlackRock MuniYield California Fund, Inc.


EX-99. CERT
CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF
THE SARBANES-OXLEY ACT OF 2002

I, Neal J. Andrews, Chief Financial Officer (principal 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 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(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 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(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 24, 2008

/s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock MuniYield California Fund, Inc.


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