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BlackRock MuniYield Michigan Insured Fund, Inc.
Schedule of Investments as of January 31, 2008 (Unaudited)
(in Thousands)
Face
Amount Municipal Bonds
Value
Michigan - 142.4%
$ 3,600
Adrian, Michigan, City School District, GO, 5% due 5/01/2014 (d)(h)
$ 4,030
3,725
Bay City, Michigan, School District, School Building and Site, GO, 5% due 5/01/2031 (d)
3,883
3,875
Bendle, Michigan, Public School District, School Building and Site, GO, 5% due 5/01/2035 (c)
3,977
1,000
Birmingham, Michigan, City School District, School Building and Site, GO, 5% due 11/01/2033 (d)
1,034
1,000
Central Montcalm, Michigan, Public Schools, GO, 5.90% due 5/01/2009 (f)(h)
1,047
1,500
Delta County, Michigan, Economic Development Corporation, Environmental Improvement Revenue
Refunding Bonds (Mead Westvaco-Escanaba), AMT, Series B, 6.45% due 4/15/2012 (h)
1,695
3,000
Detroit, Michigan, City School District, GO (School Building and Site Improvement), Refunding,
Series A, 5% due 5/01/2021 (d)
3,210
2,300
Detroit, Michigan, City School District, GO (School Building and Site Improvement), Series A, 5.375%
due 5/01/2013 (c)(h)
2,596
3,100
Detroit, Michigan, City School District, GO (School Building and Site Improvement), Series B, 5%
due 5/01/2028 (c)
3,147
1,025
Detroit, Michigan, Water Supply System Revenue Bonds, DRIVERS, Series 200, 5.75%
due 7/01/2011 (c)(h)(l)
1,258
1,550
Detroit, Michigan, Water Supply System Revenue Bonds, Second Lien, Series B, 5%
due 7/01/2013 (f)(h)
1,725
2,420
Detroit, Michigan, Water Supply System Revenue Bonds, Second Lien, Series B, 5% due 7/01/2034 (f)
2,423
1,250
Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien, Series A, 5.875%
due 1/01/2010 (c)(h)
1,345
6,900
Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien, Series A, 5% due 7/01/2034 (f)
6,991
11,790
Detroit, Michigan, Water Supply System Revenue Bonds, Series B, 5.25% due 7/01/2013 (f)(h)
13,270
1,415
Detroit, Michigan, Water Supply System, Revenue Refunding Bonds, 6.25% due 7/01/2012 (c)(g)
1,519
3,900
Dickinson County, Michigan, Economic Development Corporation, Environmental Improvement
Revenue Refunding Bonds (International Paper Company Project), Series A, 5.75% due 6/01/2016
4,042
3,100
Dickinson County, Michigan, Healthcare System, Hospital Revenue Refunding Bonds, 5.80%
due 11/01/2024 (a)
3,139
1,610
East Grand Rapids, Michigan, Public School District, GO, 5.75% due 5/01/2009 (d)(h)
1,682
1,575
East Grand Rapids, Michigan, Public School District, GO, 5% due 5/01/2031 (d)
1,642
590
Eastern Michigan University, General Revenue Refunding Bonds, 6% due 6/01/2010 (b)(h)
644
435
Eastern Michigan University, General Revenue Refunding Bonds, 6% due 6/01/2020 (b)
466
Portfolio Abbreviations
To simplify the listings of BlackRock MuniYield Michigan Insured 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) | HDA | Housing Development Authority | |||
COP | Certificates of Participation | M/F | Multi-Family | |||
DRIVERS | Derivative Inverse Tax-Exempt Receipts | RIB | Residual Interest Bonds | |||
GO | General Obligation Bonds |
1
BlackRock MuniYield Michigan Insured Fund, Inc. | ||||
Schedule of Investments as of January 31, 2008 (Unaudited) | (in Thousands) | |||
|
|
|||
Face | ||||
Amount | Municipal Bonds | Value | ||
|
|
|
||
$ 1,500 | Eastern Michigan University Revenue Bonds, Series B, 5.60% due 6/01/2010 (c)(h) | $ 1,611 | ||
|
|
|
||
1,310 | Eastern Michigan University Revenue Bonds, Series B, 5.625% due 6/01/2010 (c)(h) | 1,407 | ||
|
|
|
||
2,425 | Eaton Rapids, Michigan, Public Schools, School Building and Site, GO, 5% due 5/01/2014 (d)(h) | 2,715 | ||
|
|
|
||
1,325 | Eaton Rapids, Michigan, Public Schools, School Building and Site, GO, 5.25% due 5/01/2020 (d) | 1,456 | ||
|
|
|
||
1,675 | Eaton Rapids, Michigan, Public Schools, School Building and Site, GO, 5.25% due 5/01/2021 (d) | 1,841 | ||
|
|
|
||
1,700 | Eaton Rapids, Michigan, Public Schools, School Building and Site, GO, 5% due 5/01/2026 (d) | 1,771 | ||
|
|
|
||
1,175 | Eaton Rapids, Michigan, Public Schools, School Building and Site, GO, 5% due 5/01/2029 (d) | 1,217 | ||
|
|
|
||
615 | Flint, Michigan, Hospital Building Authority, Revenue Refunding Bonds (Hurley Medical Center), | |||
Series A, 5.375% due 7/01/2020 (a) | 588 | |||
|
|
|
||
1,375 | Flint, Michigan, Hospital Building Authority, Revenue Refunding Bonds (Hurley Medical Center), | |||
Series A, 6% due 7/01/2020 (a) | 1,382 | |||
|
|
|
||
2,200 | Fowlerville, Michigan, Community Schools, School District, GO, 5% due 5/01/2030 (c) | 2,254 | ||
|
|
|
||
1,000 | Frankenmuth, Michigan, School District, GO, 5.75% due 5/01/2010 (c)(h) | 1,075 | ||
|
|
|
||
2,940 | Gibraltar, Michigan, School District, GO (School Building and Site), 5% due 5/01/2014 (c)(h) | 3,292 | ||
|
|
|
||
710 | Gibraltar, Michigan, School District, GO (School Building and Site), 5% due 5/01/2028 (c) | 729 | ||
|
|
|
||
1,100 | Grand Blanc, Michigan, Community Schools, GO, 5.625% due 5/01/2020 (c) | 1,195 | ||
|
|
|
||
1,035 | Grand Rapids, Michigan, Building Authority Revenue Bonds, Series A, 5.50% due 10/01/2012 (b)(h) | 1,163 | ||
|
|
|
||
665 | Grand Rapids, Michigan, Building Authority Revenue Bonds, Series A, 5.50% due 10/01/2019 (b) | 725 | ||
|
|
|
||
900 | Grand Rapids, Michigan, Building Authority Revenue Bonds, Series A, 5.50% due 10/01/2020 (b) | 981 | ||
|
|
|
||
2,070 | Grand Valley, Michigan, State University Revenue Bonds, 5.50% due 2/01/2018 (c) | 2,332 | ||
|
|
|
||
11,250 | Greater Detroit Resource Recovery Authority, Michigan, Revenue Refunding Bonds, Series A, 6.25% due | |||
12/13/2008 (b) | 11,641 | |||
|
|
|
||
5,625 | Gull Lake, Michigan, Community School District, School Building and Site, GO, 5% | |||
due 5/01/2014 (d)(h) | 6,298 | |||
|
|
|
||
4,345 | Harper Woods, Michigan, City School District, School Building and Site, GO, Refunding, 5% | |||
due 5/01/2014 (c)(h) | 4,865 | |||
|
|
|
||
430 | Harper Woods, Michigan, City School District, School Building and Site, GO, Refunding, 5% | |||
due 5/01/2034 (c) | 439 | |||
|
|
|
||
9,325 | Hartland, Michigan, Consolidated School District, GO, 6% due 5/01/2010 (c)(h) | 10,071 | ||
|
|
|
||
3,990 | Hudsonville, Michigan, Public Schools, School Building and Site, GO, 5% due 5/01/2029 (d) | 4,133 | ||
|
|
|
||
1,575 | Jenison, Michigan, Public Schools, School Building and Site, GO, 5.50% due 5/01/2019 (c) | 1,713 | ||
|
|
|
||
2,500 | Kent County, Michigan, Airport Revenue Bonds (Gerald R. Ford International Airport), 5% | |||
due 1/01/2037 | 2,580 | |||
|
|
|
||
3,365 | Kent, Michigan, Hospital Finance Authority, Hospital Revenue Refunding Bonds (Butterworth Hospital), | |||
Series A, 7.25% due 1/15/2013 (f) | 3,733 | |||
|
|
|
||
3,000 | Kent, Michigan, Hospital Finance Authority Revenue Bonds (Spectrum Health), Series A, 5.50% | |||
due 7/15/2011 (f)(h) | 3,309 | |||
|
|
|
2
BlackRock MuniYield Michigan Insured Fund, Inc. | ||||
Schedule of Investments as of January 31, 2008 (Unaudited) | (in Thousands) | |||
|
|
|||
Face | ||||
Amount | Municipal Bonds | Value | ||
|
|
|
||
$ 1,510 | Lansing, Michigan, Building Authority, GO, Series A, 5.375% due 6/01/2013 (f)(h) | $ 1,707 | ||
|
|
|
||
2,015 | Lapeer, Michigan, Community Schools, School Building and Site, GO, 5% due 5/01/2037 (d) | 2,097 | ||
|
|
|
||
1,875 | Michigan Higher Education Facilities Authority, Limited Obligation Revenue Bonds (Hillsdale College | |||
Project), 5% due 3/01/2035 | 1,881 | |||
|
|
|
||
2,250 | Michigan Higher Education Facilities Authority, Limited Obligation Revenue Refunding Bonds (Hope | |||
College), Series A, 5.90% due 4/01/2032 | 2,291 | |||
|
|
|
||
1,235 | Michigan Higher Education Facilities Authority, Revenue Refunding Bonds (College for Creative | |||
Studies), 5.85% due 12/01/2022 | 1,289 | |||
|
|
|
||
1,145 | Michigan Higher Education Facilities Authority, Revenue Refunding Bonds (College for Creative | |||
Studies), 5.90% due 12/01/2027 | 1,183 | |||
|
|
|
||
2,500 | Michigan Higher Education Student Loan Authority, Student Loan Revenue Bonds, AMT, Series XVII-B, | |||
5.40% due 6/01/2018 (b) | 2,529 | |||
|
|
|
||
3,000 | Michigan Higher Education Student Loan Authority, Student Loan Revenue Bonds, AMT, Series XVII-Q, | |||
5% due 3/01/2031 (b) | 2,988 | |||
|
|
|
||
1,065 | Michigan Municipal Bond Authority Revenue Bonds (Local Government Loan Program), Group A, | |||
5.50% due 11/01/2020 (b) | 1,127 | |||
|
|
|
||
2,500 | Michigan State Building Authority, Revenue Refunding Bonds (Facilities Program), Series I, 5.50% | |||
due 10/15/2018 (f) | 2,701 | |||
|
|
|
||
3,500 | Michigan State Building Authority, Revenue Refunding Bonds (Facilities Program), Series II, 5% | |||
due 10/15/2029 (f) | 3,576 | |||
|
|
|
||
1,250 | Michigan State Building Authority, Revenue Refunding Bonds, RIB, Series 517X, 8.57% | |||
due 10/15/2010 (d)(l) | 1,487 | |||
|
|
|
||
3,000 | Michigan State, COP, 5.50% due 6/01/2010 (b)(h) | 3,197 | ||
|
|
|
||
3,000 | Michigan State, COP, 5.40% due 6/01/2022 (b)(g)(j) | 1,614 | ||
|
|
|
||
3,740 | Michigan State, Comprehensive Transportation Revenue Refunding Bonds, 5% due 5/15/2026 (d) | 3,939 | ||
|
|
|
||
1,000 | Michigan State, HDA, Limited Obligation M/F Housing Revenue Bonds (Deaconess Towers | |||
Apartments), AMT, 5.25% due 2/20/2048 (e) | 979 | |||
|
|
|
||
4,050 | Michigan State, HDA, Limited Obligation M/F Housing Revenue Bonds (Williams Pavilion Apartments), | |||
AMT, 4.75% due 4/20/2037 (e) | 3,772 | |||
|
|
|
||
835 | Michigan State, HDA, Rental Housing Revenue Bonds, AMT, Series A, 5.30% due 10/01/2037 (f) | 831 | ||
|
|
|
||
3,310 | Michigan State, HDA, Rental Housing Revenue Bonds, AMT, Series D, 5% due 4/01/2026 (d) | 3,306 | ||
|
|
|
||
2,530 | Michigan State Hospital Finance Authority, Hospital Revenue Bonds (Mid-Michigan Obligation Group), | |||
Series A, 5.50% due 4/15/2018 (b) | 2,674 | |||
|
|
|
||
2,200 | Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds (Crittenton Hospital), | |||
Series A, 5.625% due 3/01/2027 | 2,271 | |||
|
|
|
||
4,375 | Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds (Oakwood Obligated | |||
Group), Series A, 5% due 7/15/2025 | 4,408 | |||
|
|
|
3
BlackRock MuniYield Michigan Insured Fund, Inc. | ||||
Schedule of Investments as of January 31, 2008 (Unaudited) | (in Thousands) | |||
|
|
|||
Face | ||||
Amount | Municipal Bonds | Value | ||
|
|
|
||
$ 2,130 | Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds (Oakwood Obligated | |||
Group), Series A, 5% due 7/15/2037 | $ 2,033 | |||
|
|
|
||
4,250 | Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds (Sparrow Obligated | |||
Group), 5% due 11/15/2031 | 4,226 | |||
|
|
|
||
1,000 | Michigan State Hospital Finance Authority Revenue Bonds (McLaren Health Care Corporation), | |||
Series C, 5% due 8/01/2035 | 986 | |||
|
|
|
||
9,180 | Michigan State Hospital Finance Authority Revenue Bonds (Mid-Michigan Obligor Group), Series A, 5% | |||
due 4/15/2036 | 9,056 | |||
|
|
|
||
1,500 | Michigan State Hospital Finance Authority Revenue Bonds (Trinity Health Credit Group), Series A, 5% | |||
due 12/01/2031 | 1,507 | |||
|
|
|
||
2,715 | Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Ascension Health Credit), | |||
Series A, 5.75% due 11/15/2009 (f)(h) | 2,908 | |||
|
|
|
||
12,000 | Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Ascension Health Credit), | |||
Series A, 6.125% due 11/15/2009 (f)(h) | 12,931 | |||
|
|
|
||
2,500 | Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Ascension Health Credit), | |||
Series A, 6.25% due 11/15/2009 (f)(h) | 2,699 | |||
|
|
|
||
6,700 | Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Henry Ford Health System), | |||
Series A, 5.25% due 11/15/2032 | 6,728 | |||
|
|
|
||
2,200 | Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Mercy Health Services), | |||
Series X, 5.75% due 8/15/2009 (f)(h) | 2,341 | |||
|
|
|
||
2,000 | Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Mercy Health Services), | |||
Series X, 6% due 8/15/2009 (f)(h) | 2,119 | |||
|
|
|
||
4,930 | Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Mercy-Mount Clemens), | |||
Series A, 6% due 5/15/2009 (f)(h) | 5,220 | |||
|
|
|
||
3,000 | Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Saint John Hospital), | |||
Series A, 6% due 5/15/2013 (b)(g) | 3,064 | |||
|
|
|
||
3,100 | Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Trinity Health Credit Group), | |||
Series D, 5% due 8/15/2034 | 3,105 | |||
|
|
|
||
1,000 | Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Trinity Health Credit), Series C, | |||
5.375% due 12/01/2023 | 1,043 | |||
|
|
|
||
5,255 | Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Trinity Health Credit), Series C, | |||
5.375% due 12/01/2030 | 5,388 | |||
|
|
|
||
6,400 | Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Trinity Health), Series A, 6% due | |||
12/01/2027 (b) | 6,839 | |||
|
|
|
||
10,250 | Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Detroit Edison Company | |||
Pollution Control Project), AMT, Series A, 5.55% due 9/01/2029 (f) | 10,474 | |||
|
|
|
||
6,000 | Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Detroit Edison Company | |||
Pollution Control Project), Series AA, 6.95% due 5/01/2011 (c) | 6,767 | |||
|
|
|
||
2,175 | Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Dow Chemical Company | |||
Project), AMT, 5.50% due 12/01/2028 | 2,208 | |||
|
|
|
4
BlackRock MuniYield Michigan Insured Fund, Inc. | ||||
Schedule of Investments as of January 31, 2008 (Unaudited) | (in Thousands) | |||
|
|
|||
Face | ||||
Amount | Municipal Bonds | Value | ||
|
|
|
||
$ 15,000 | Monroe County, Michigan, Economic Development Corporation, Limited Obligation Revenue Refunding | |||
Bonds (Detroit Edison Co. Project), Series AA, 6.95% due 9/01/2022 (c) | $ 19,530 | |||
|
|
|
||
1,000 | Montrose Township, Michigan, School District, GO, 6.20% due 5/01/2017 (f) | 1,209 | ||
|
|
|
||
1,830 | Muskegon Heights, Michigan, Water System Revenue Bonds, Series A, 5.625% due 11/01/2010 (f)(h) | 1,988 | ||
|
|
|
||
235 | Northview, Michigan, Public School District, GO, Refunding, 5.80% due 5/01/2021 (f) | 237 | ||
|
|
|
||
1,100 | Norway Vulcan, Michigan, Area Schools, GO, 5.90% due 5/01/2009 (c)(h) | 1,152 | ||
|
|
|
||
500 | Oak Park, Michigan, Street Improvement, GO, 5% due 5/01/2030 (f) | 519 | ||
|
|
|
||
5,320 | Orchard View, Michigan, Schools, School Building and Site, GO, 5% due 11/01/2013 (f)(h) | 5,953 | ||
|
|
|
||
1,370 | Pennfield, Michigan, School District, School Building and Site, GO, 5% due 5/01/2014 (c)(h) | 1,534 | ||
|
|
|
||
1,000 | Plainwell, Michigan, Community Schools, School District, School Building and Site, GO, 5.50% | |||
due 11/01/2012 (d)(h) | 1,127 | |||
|
|
|
||
3,905 | Plymouth-Canton, Michigan, Community School District, GO, 5% due 5/01/2029 (c) | 4,008 | ||
|
|
|
||
700 | Pontiac, Michigan, Tax Increment Finance Authority, Revenue Refunding Bonds (Development Area | |||
Number 2), 5.625% due 6/01/2022 (a) | 704 | |||
|
|
|
||
1,425 | Reed, Michigan, City Public Schools, School Building and Site, GO, 5% due 5/01/2014 (d)(h) | 1,595 | ||
|
|
|
||
1,500 | Roseville, Michigan, School District, School Building and Site, GO, Refunding, 5% due 5/01/2031 (d) | 1,564 | ||
|
|
|
||
2,500 | Saginaw, Michigan, Hospital Finance Authority, Revenue Refunding Bonds (Covenant Medical Center), | |||
Series E, 5.625% due 7/01/2013 (f) | 2,621 | |||
|
|
|
||
2,100 | Saginaw Valley State University, Michigan, General Revenue Refunding Bonds, 5% due 7/01/2024 (c) | 2,167 | ||
|
|
|
||
1,445 | Saginaw Valley State University, Michigan, General Revenue Refunding Bonds, 5% due 7/01/2034 (c) | 1,462 | ||
|
|
|
||
17,800 | Saint Clair County, Michigan, Economic Revenue Refunding Bonds (Detroit Edison Co. Project), | |||
Series AA, 6.40% due 8/01/2024 (b) | 18,405 | |||
|
|
|
||
1,300 | Southfield, Michigan, Library Building Authority, GO, 5.50% due 5/01/2010 (f)(h) | 1,390 | ||
|
|
|
||
3,500 | Southfield, Michigan, Public Schools, School Building and Site, GO, Series A, 5% | |||
due 5/01/2014 (d)(h) | 3,919 | |||
|
|
|
||
2,900 | Southfield, Michigan, Public Schools, School Building and Site, GO, Series A, 5.25% | |||
due 5/01/2014 (d)(h) | 3,288 | |||
|
|
|
||
1,325 | Sparta, Michigan, Area Schools, School Building and Site, GO, 5% due 5/01/2014 (c)(h) | 1,484 | ||
|
|
|
||
2,500 | Thornapple Kellogg School District, Michigan, GO, Refunding, 5% due 5/01/2032 (f) | 2,601 | ||
|
|
|
||
1,100 | Waverly, Michigan, Community School, GO, 5.50% due 5/01/2010 (c)(h) | 1,176 | ||
|
|
|
||
10,660 | Wayne Charter County, Michigan, Airport Revenue Bonds (Detroit Metropolitan Wayne County), AMT, | |||
Series A, 5.375% due 12/01/2015 (f) | 10,880 | |||
|
|
|
||
1,750 | Wayne Charter County, Michigan, Detroit Metropolitan Airport, GO, Airport Hotel, Series A, 5% | |||
due 12/01/2030 (f) | 1,784 | |||
|
|
|
||
9,160 | Wayne County, Michigan, Airport Authority Revenue Bonds (Detroit Metropolitan Wayne County | |||
Airport), AMT, 5% due 12/01/2034 (f) | 9,082 | |||
|
|
|
||
1,710 | West Bloomfield, Michigan, School District, GO, Refunding, 5.50% due 5/01/2017 (c) | 1,874 | ||
|
|
|
5
BlackRock MuniYield Michigan Insured Fund, Inc. | ||||||
Schedule of Investments as of January 31, 2008 (Unaudited) | (in Thousands) | |||||
|
|
|||||
Face | ||||||
Amount | Municipal Bonds | Value | ||||
|
|
|
|
|||
$ 1,225 | West Bloomfield, Michigan, School District, GO, Refunding, 5.50% due 5/01/2018 (c) | $ 1,333 | ||||
|
|
|
||||
2,405 | West Branch-Rose City, Michigan, Area School District, GO, 5.50% due 5/01/2009 (c)(h) | 2,506 | ||||
|
|
|
|
|||
1,600 | Zeeland, Michigan, Public Schools, School Building and Site, GO, 5% due 5/01/2029 (f) | 1,651 | ||||
|
|
|
|
|||
Puerto Rico - 5.7% | 8,300 | Puerto Rico Commonwealth Highway and Transportation Authority, Transportation Revenue Refunding | ||||
Bonds, Series N, 5.25% due 7/01/2039 (c) | 8,480 | |||||
|
|
|
|
|||
2 | Puerto Rico Electric Power Authority, Power Revenue Bonds, Trust Receipts, Class R, Series 16 HH, | |||||
8.363% due 7/01/2013 (d)(l) | 3 | |||||
|
|
|
|
|||
2,790 | Puerto Rico Municipal Finance Agency Revenue Bonds, Series A, 5% due 8/01/2027 (d) | 2,870 | ||||
|
|
|
|
|||
12,500 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Refunding Bonds, Series A, 5.20% | |||||
due 8/01/2043 (f)(j) | 1,880 | |||||
|
|
|
|
|||
20,000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Refunding Bonds, Series A, 4.99% due | |||||
8/01/2046 (f)(j) | 2,543 | |||||
|
|
|
|
|||
Total Municipal Bonds (Cost - $390,269) - 148.1% | 409,289 | |||||
|
|
|
|
|||
Municipal Bonds Transferred to Tender Option Bond Trusts (m) | ||||||
|
|
|
|
|||
Michigan - 15.6% | 6,700 | Detroit, Michigan, Water Supply System, Senior Lien Revenue Bonds, Series A, 5.75% | ||||
due 7/01/2011 (c)(h) | 7,461 | |||||
|
|
|
|
|||
4,750 | Michigan State Building Authority, Revenue Refunding Bonds (Facilities Program), Series I, 5.50% | |||||
due 10/15/2010 (d) | 5,202 | |||||
|
|
|
|
|||
15,030 | Michigan State Building Authority, Revenue Refunding Bonds (Facilities Program), Series I, 5.50% | |||||
due 10/15/2011 (d) | 16,459 | |||||
|
|
|
|
|||
7,525 | Wayne County, Michigan, Airport Authority Revenue Bonds (Detroit Metropolitan Wayne County | |||||
Airport), AMT, 5.25% due 12/01/2025 (f) | 7,624 | |||||
|
|
|
|
|||
6,295 | Wayne County, Michigan, Airport Authority Revenue Bonds (Detroit Metropolitan Wayne County | |||||
Airport), AMT, 5.25% due 12/01/2026 (f) | 6,378 | |||||
|
|
|
|
|||
Puerto Rico - 1.0% | 2,535 | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series HH, 5.75% | ||||
due 7/01/2010 (d) | 2,758 | |||||
|
|
|
|
|||
Total Municipal Bonds Transferred to Tender Option Bond Trusts (Cost - $46,048) - 16.6% | 45,882 | |||||
|
|
|
|
|||
Shares | ||||||
Held | Short-Term Securities | |||||
|
|
|
|
|||
3,239 | CMA Michigan Municipal Money Fund, 1.97% (i)(k) | 3,239 | ||||
|
|
|
|
|||
Total Short-Term Securities (Cost - $3,239) - 1.2% | 3,239 | |||||
|
|
|
|
|||
Total Investments (Cost - $439,556*) - 165.9% | 458,410 | |||||
Other Assets Less Liabilities - 1.6% | 4,482 | |||||
Liability for Trust Certificates, Including Interest Expense Payable - (7.8%) | (21,566) | |||||
Preferred Stock, at Redemption Value - (59.7%) | (165,064) | |||||
|
||||||
Net Assets Applicable to Common Stock - 100.0% | $ 276,262 | |||||
|
6
BlackRock MuniYield Michigan Insured Fund, Inc. | ||||||
Schedule of Investments as of January 31, 2008 (Unaudited) | (in Thousands) | |||||
|
|
|||||
* | 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 | $ 418,127 | |||||
|
||||||
Gross unrealized appreciation | $ 23,275 | |||||
Gross unrealized depreciation | (4,410) | |||||
Net unrealized appreciation | $ 18,865 | |||||
|
(a) | ACA Insured. |
(b) | AMBAC Insured. |
(c) | FGIC Insured. |
(d) | FSA Insured. |
(e) | GNMA Collateralized. |
(f) | MBIA Insured. |
(g) | Escrowed to maturity. |
(h) | Prerefunded. |
(i) | 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 Michigan Municipal | ||||
Money Fund | (683) | $28 | ||
|
|
|
(j) | Represents a zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase. |
(k) | Represents the current yield as of January 31, 2008. |
(l) | The rate disclosed is that currently in effect. This rate changes periodically and inversely based upon prevailing market rates. |
(m) | 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. |
7
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 Michigan Insured Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock MuniYield Michigan Insured 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 registrants 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 registrants 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 registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and 5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants 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 registrants 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 registrants 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 Michigan Insured 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 Michigan Insured Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock MuniYield Michigan Insured 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 registrants 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 registrants 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 registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and 5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants 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 registrants 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 registrants 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 Michigan Insured Fund, Inc. |