-----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, Bv21i88qKyfIvF5xOWUPsUSyT0sWnMu6+z20IOiga1ROZxFYDruRTV5KqYJon4Wm iZ0Q5TQPn77OfGPYYNommA== 0001193805-06-002565.txt : 20061026 0001193805-06-002565.hdr.sgml : 20061026 20061026131805 ACCESSION NUMBER: 0001193805-06-002565 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060831 FILED AS OF DATE: 20061026 DATE AS OF CHANGE: 20061026 EFFECTIVENESS DATE: 20061026 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MUNIASSETS FUND INC CENTRAL INDEX KEY: 0000901243 IRS NUMBER: 223239638 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-07642 FILM NUMBER: 061165152 BUSINESS ADDRESS: STREET 1: 800 SCUDDERS MILL RD CITY: PLAINSBORO STATE: NJ ZIP: 08536 BUSINESS PHONE: 6092822800 FORMER COMPANY: FORMER CONFORMED NAME: MUNIINCOME FUND INC DATE OF NAME CHANGE: 19930517 N-Q 1 e601107_nq-muniassets.txt QUARTERLY REPORT 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 811-7642 Name of Fund: BlackRock MuniAssets 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 MuniAssets 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: 05/31/2007 Date of reporting period: 06/01/2006 - 08/31/2006 Item 1 - Schedule of Investments BlackRock MuniAssets Fund, Inc. Schedule of Investments as of August 31, 2006 (in Thousands)
Face State Amount Municipal Bonds Value - --------------------------------------------------------------------------------------------------------------------------------- Alabama - 1.5% $ 2,420 Brewton, Alabama, IDB, PCR, Refunding (Container Corporation of America-Jefferson Smurfit Corp. Project), 8% due 4/01/2009 $ 2,449 1,820 Tuscaloosa, Alabama, Special Care Facilities Financing Authority, Residential Care Facility Revenue Bonds (Capstone Village, Inc. Project), Series A, 5.875% due 8/01/2036 1,847 - --------------------------------------------------------------------------------------------------------------------------------- Alaska - 0.4% 1,125 Alaska Industrial Development and Export Authority Revenue Bonds (Williams Lynxs Alaska Cargoport), AMT, 7.80% due 5/01/2014 1,182 - --------------------------------------------------------------------------------------------------------------------------------- Arizona - 6.4% 3,000 Coconino County, Arizona, Pollution Control Corporation Revenue Refunding Bonds (Tucson Electric Power - Navajo), AMT, Series A, 7.125% due 10/01/2032 3,129 2,500 Coconino County, Arizona, Pollution Control Corporation Revenue Refunding Bonds (Tucson Electric Power - Navajo), Series B, 7% due 10/01/2032 2,605 1,325 Maricopa County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools Project 1), Series A, 6.625% due 7/01/2020 1,330 1,615 Maricopa County, Arizona, IDA, M/F Housing Revenue Bonds (Sun King Apartments Project), Series A, 6.75% due 5/01/2031 1,410 5,950 Phoenix, Arizona, IDA, Airport Facility, Revenue Refunding Bonds (America West Airlines Inc. Project), AMT, 6.30% due 4/01/2023 5,972 1,420 Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools Project), Series E, 7.25% due 7/01/2031 1,530 1,105 Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools Project II), Series A, 6.75% due 7/01/2031 1,155 1,200 Show Low, Arizona, Improvement District Number 5, Special Assessment Bonds, 6.375% due 1/01/2015 1,235 - --------------------------------------------------------------------------------------------------------------------------------- California - 1.7% 1,900 California State, Various Purpose, GO, 5.25% due 11/01/2025 2,034 1,300 California State, Various Purpose, GO, 5.50% due 11/01/2033 1,420 1,320 Fontana, California, Special Tax, Refunding (Community Facilities District Number 22 - Sierra), 6% due 9/01/2034 1,399 - --------------------------------------------------------------------------------------------------------------------------------- Colorado - 6.5% 2,000 Denver, Colorado, City and County Airport Revenue Bonds, AMT, Series D, 7.75% due 11/15/2013 (a) 2,283 2,155 Denver, Colorado, Urban Renewal Authority, Tax Increment Revenue Bonds (Pavilions), AMT, 7.75% due 9/01/2016 2,203 3,000 Denver, Colorado, Urban Renewal Authority, Tax Increment Revenue Bonds (Pavilions), AMT, 7.75% due 9/01/2017 3,066 - ---------------------------------------------------------------------------------------------------------------------------------
Portfolio Abbreviations To simplify the listings of BlackRock MuniAssets 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) EDA Economic Development Authority GO General Obligation Bonds IDA Industrial Development Authority IDB Industrial Development Board IDR Industrial Development Revenue Bonds M/F Multi-Family PCR Pollution Control Revenue Bonds VRDN Variable Rate Demand Notes BlackRock MuniAssets Fund, Inc. Schedule of Investments as of August 31, 2006 (in Thousands)
Face State Amount Municipal Bonds Value - --------------------------------------------------------------------------------------------------------------------------------- $ 1,580 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee), Series A, 7.10% due 9/01/2014 $ 1,698 2,095 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee), Series A, 7.30% due 9/01/2022 2,245 420 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee), Series B, 7% due 9/01/2031 434 1,760 North Range, Colorado, Metropolitan District Number 1, GO, 7.25% due 12/15/2031 1,893 2,850 Plaza Metropolitan District Number 1, Colorado, Tax Allocation Revenue Bonds (Public Improvement Fees), 8% due 12/01/2025 3,148 525 Plaza Metropolitan District Number 1, Colorado, Tax Allocation Revenue Bonds (Public Improvement Fees), 8.125% due 12/01/2025 528 1,170 Southlands, Colorado, Medical District, GO (Metropolitan District Number 1), 7.125% due 12/01/2034 1,291 - --------------------------------------------------------------------------------------------------------------------------------- Connecticut - 1.6% 680 Connecticut State Development Authority, Airport Facility Revenue Bonds (Learjet Inc. Project), AMT, 7.95% due 4/01/2026 811 3,490 Connecticut State Development Authority, IDR (AFCO Cargo BDL-LLC Project), AMT, 8% due 4/01/2030 3,776 - --------------------------------------------------------------------------------------------------------------------------------- Florida - 6.3% 675 Arbor Greene Community Development District, Florida, Special Assessment Revenue Bonds, 7.60% due 11/01/2006 (b) 686 1,130 Capital Projects Finance Authority, Florida, Continuing Care Retirement Revenue Bonds (Glenridge on Palmer Ranch), Series A, 8% due 6/01/2032 1,244 1,160 Halifax Hospital Medical Center, Florida, Hospital Revenue Refunding Bonds, Series A, 5% due 6/01/2038 1,175 490 Harbor Bay, Florida, Community Development District, Capital Improvement Special Assessment Revenue Bonds, Series A, 7% due 5/01/2033 529 1,195 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Adventist Health System), Series C, 5.25% due 11/15/2036 1,258 2,000 Hillsborough County, Florida, IDA, Exempt Facilities Revenue Bonds (National Gypsum Company), AMT, Series A, 7.125% due 4/01/2030 2,201 3,255 Midtown Miami, Florida, Community Development District, Special Assessment Revenue Bonds, Series A, 6.25% due 5/01/2037 3,546 1,180 Orlando, Florida, Greater Orlando Aviation Authority, Airport Facilities Revenue Bonds (JetBlue Airways Corp.), AMT, 6.375% due 11/15/2026 1,224 2,305 Orlando, Florida, Urban Community Development District, Capital Improvement Special Assessment Bonds, Series A, 6.95% due 5/01/2033 2,489 2,685 Santa Rosa Bay Bridge Authority, Florida, Revenue Bonds, 6.25% due 7/01/2028 2,724 905 Waterchase, Florida, Community Development District, Capital Improvement Revenue Bonds, Series A, 6.70% due 5/01/2032 966 - --------------------------------------------------------------------------------------------------------------------------------- Georgia - 3.4% 3,000 Atlanta, Georgia, Tax Allocation Bonds (Atlantic Station Project), 7.90% due 12/01/2024 3,334 590 Atlanta, Georgia, Tax Allocation Bonds (Eastside Project), Series B, 5.40% due 1/01/2020 605 740 Atlanta, Georgia, Tax Allocation Bonds (Princeton Lakes Project), 5.50% due 1/01/2031 750
BlackRock MuniAssets Fund, Inc. Schedule of Investments as of August 31, 2006 (in Thousands)
Face State Amount Municipal Bonds Value - --------------------------------------------------------------------------------------------------------------------------------- $ 1,165 Brunswick & Glynn County, Georgia, Development Authority, First Mortgage Revenue Bonds (Coastal Community Retirement Corporation Project), Series A, 7.125% due 1/01/2025 $ 1,146 1,690 Brunswick & Glynn County, Georgia, Development Authority, First Mortgage Revenue Bonds (Coastal Community Retirement Corporation Project), Series A, 7.25% due 1/01/2035 1,665 1,060 Fulton County, Georgia, Development Authority, PCR (General Motors Corporation), Refunding, VRDN, 8% due 4/01/2010 (d) 1,060 1,170 Savannah, Georgia, EDA, Revenue Bonds (Marshes of Skidaway), First Mortgage, Series A, 7.40% due 1/01/2034 1,230 - --------------------------------------------------------------------------------------------------------------------------------- Idaho - 0.4% 1,000 Idaho Health Facilities Authority, Revenue Refunding Bonds (Valley Vista Care Corporation), Series A, 7.75% due 11/15/2016 1,050 - --------------------------------------------------------------------------------------------------------------------------------- Illinois - 7.2% 2,630 Caseyville, Illinois, Senior Tax Increment Revenue Bonds (Forest Lakes Project), 7% due 12/30/2022 2,762 4,000 Chicago, Illinois, O'Hare International Airport, Special Facility Revenue Refunding Bonds (American Airlines Inc. Project), 8.20% due 12/01/2024 4,102 60 Illinois Development Finance Authority Revenue Bonds (Primary Health Care Centers Facilities Acquisition Program), 7.50% due 12/01/2006 (c) 61 290 Illinois Development Finance Authority Revenue Bonds (Primary Health Care Centers Facilities Acquisition Program), 7.50% due 12/01/2006 291 475 Illinois Development Finance Authority Revenue Bonds (Primary Health Care Centers Facilities Acquisition Program), 7.75% due 12/01/2006 (b) 489 2,720 Illinois Development Finance Authority Revenue Bonds (Primary Health Care Centers Facilities Acquisition Program), 7.75% due 12/01/2016 2,788 2,950 Illinois State Finance Authority Revenue Bonds (Clare At Water Tower Project), Series A, 6.125% due 5/15/2038 3,052 600 Illinois State Finance Authority Revenue Bonds (Landing At Plymouth Place Project), Series A, 6% due 5/15/2037 622 685 Illinois State Finance Authority Revenue Bonds (Primary Health Care Centers Program), 6.60% due 7/01/2024 709 1,070 Lincolnshire, Illinois, Special Service Area Number 1, Special Tax Bonds (Sedgebrook Project), 6.25% due 3/01/2034 1,135 2,600 Lombard, Illinois, Public Facilities Corporation, First Tier Revenue Bonds (Conference Center and Hotel), Series A-1, 7.125% due 1/01/2036 2,778 1,165 Naperville, Illinois, IDR (General Motors Corporation), Refunding, VRDN, 8% due 12/01/2012 (d) 1,165 825 Village of Wheeling, Illinois, Revenue Bonds (North Milwaukee/Lake-Cook Tax Increment Financing (TIF) Redevelopment Project), 6% due 1/01/2025 810 - --------------------------------------------------------------------------------------------------------------------------------- Indiana - 0.9% 1,160 Delaware County, Indiana, Hospital Authority, Hospital Revenue Bonds (Cardinal Health System Obligated Group), 5.25% due 8/01/2036 1,192 1,200 Vanderburgh County, Indiana, Redevelopment Commission, Redevelopment District Tax Allocation Bonds, 5.25% due 2/01/2031 1,252 - ---------------------------------------------------------------------------------------------------------------------------------
BlackRock MuniAssets Fund, Inc. Schedule of Investments as of August 31, 2006 (in Thousands)
Face State Amount Municipal Bonds Value - --------------------------------------------------------------------------------------------------------------------------------- Iowa - 1.0% $ 2,210 Iowa Finance Authority, Health Care Facilities, Revenue Refunding Bonds (Care Initiatives Project), 9.25% due 7/01/2011 (b) $ 2,753 - --------------------------------------------------------------------------------------------------------------------------------- Kansas - 0.6% 1,770 Wyandotte County, Kansas, Kansas City Unified Government Revenue Refunding Bonds (General Motors Corporation Project), 6% due 6/01/2025 1,774 - --------------------------------------------------------------------------------------------------------------------------------- Kentucky - 1.0% 2,850 Kenton County, Kentucky, Airport Board, Special Facilities Revenue Bonds (Mesaba Aviation Inc. Project), AMT, Series A, 6.70% due 7/01/2029 2,933 - --------------------------------------------------------------------------------------------------------------------------------- Louisiana - 0.7% 1,870 Louisiana Public Facilities Authority, Hospital Revenue Bonds (Franciscan Missionaries of Our Lady Health System, Inc.), Series A, 5.25% due 8/15/2036 1,956 - --------------------------------------------------------------------------------------------------------------------------------- Maine - 0.4% 1,160 Maine Finance Authority, Solid Waste Recycling Facilities Revenue Bonds (Great Northern Paper Project-Bowater), AMT, 7.75% due 10/01/2022 1,170 - --------------------------------------------------------------------------------------------------------------------------------- Maryland - 1.2% 1,910 Maryland State Economic Development Corporation Revenue Refunding Bonds (Baltimore Association for Retarded Citizens-Health and Mental Hygiene Program), Series A, 7.75% due 3/01/2025 2,045 1,500 Maryland State Energy Financing Administration, Limited Obligation Revenue Bonds (Cogeneration-AES Warrior Run), AMT, 7.40% due 9/01/2019 1,516 - --------------------------------------------------------------------------------------------------------------------------------- Massachusetts - 1.7% 1,680 Massachusetts State Development Finance Agency, Revenue Refunding Bonds (Eastern Nazarene College), 5.625% due 4/01/2029 1,708 1,150 Massachusetts State Health and Educational Facilities Authority Revenue Bonds (Jordan Hospital), Series E, 6.75% due 10/01/2033 1,261 1,945 Massachusetts State Health and Educational Facilities Authority, Revenue Refunding Bonds (Bay Cove Human Services Issue), Series A, 5.90% due 4/01/2028 1,968 - --------------------------------------------------------------------------------------------------------------------------------- Michigan - 1.2% 1,635 Macomb County, Michigan, Hospital Finance Authority, Hospital Revenue Bonds (Mount Clemens General Hospital), Series B, 5.875% due 11/15/2034 1,726 1,740 Monroe County, Michigan, Hospital Financing Authority, Hospital Revenue Refunding Bonds (Mercy Memorial Hospital Corporation), 5.50% due 6/01/2035 1,809 - --------------------------------------------------------------------------------------------------------------------------------- Minnesota - 0.8% 1,770 Saint Paul, Minnesota, Port Authority, Hotel Facility, Revenue Refunding Bonds (Radisson Kellogg Project), Series 2, 7.375% due 8/01/2008 (b) 1,940 440 Virginia, Minnesota, Housing and Redevelopment Authority, Health Care Facility Lease Revenue Bonds, 5.25% due 10/01/2025 456 - --------------------------------------------------------------------------------------------------------------------------------- Missouri - 0.7% 920 Fenton, Missouri, Tax Increment Revenue Refunding and Improvement Bonds (Gravois Bluffs), 7% due 10/01/2011 (b) 1,066 1,000 Kansas City, Missouri, IDA, First Mortgage Health Facilities Revenue Bonds (Bishop Spencer Place), Series A, 6.50% due 1/01/2035 1,054 - --------------------------------------------------------------------------------------------------------------------------------- Nevada - 0.2% 645 Clark County, Nevada, Improvement District Number 142, Special Assessment Bonds, 6.375% due 8/01/2023 669 - --------------------------------------------------------------------------------------------------------------------------------- New Hampshire - 0.4% 1,165 New Hampshire Health and Education Facilities Authority, Hospital Revenue Bonds (Catholic Medical Center), 5% due 7/01/2036 1,185 - --------------------------------------------------------------------------------------------------------------------------------- New Jersey - 15.9% 5,600 Camden County, New Jersey, Improvement Authority, Lease Revenue Bonds (Holt Hauling & Warehousing), AMT, Series A, 9.625% due 1/01/2011 (f)(g) 2,302 5,800 Camden County, New Jersey, Improvement Authority, Lease Revenue Bonds (Holt Hauling & Warehousing), AMT, Series A, 9.875% due 1/01/2021 (f)(g) 2,384
BlackRock MuniAssets Fund, Inc. Schedule of Investments as of August 31, 2006 (in Thousands)
Face State Amount Municipal Bonds Value - --------------------------------------------------------------------------------------------------------------------------------- $ 325 Camden County, New Jersey, Pollution Control Financing Authority, Solid Waste Resource Recovery, Revenue Bonds, Series D, 7.25% due 12/01/2010 $ 330 9,000 Camden County, New Jersey, Pollution Control Financing Authority, Solid Waste Resource Recovery, Revenue Refunding Bonds, AMT, Series A, 7.50% due 12/01/2010 9,137 765 Camden County, New Jersey, Pollution Control Financing Authority, Solid Waste Resource Recovery, Revenue Refunding Bonds, AMT, Series B, 7.50% due 12/01/2009 777 3,065 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2024 3,212 2,500 New Jersey EDA, IDR, Refunding (Newark Airport Marriott Hotel), 7% due 10/01/2014 2,590 1,665 New Jersey EDA, Retirement Community Revenue Bonds (Cedar Crest Village Inc. Facility), Series A, 7.25% due 11/15/2021 1,817 5,800 New Jersey EDA, Retirement Community Revenue Bonds (Seabrook Village Inc.), Series A, 8.125% due 11/15/2023 6,509 2,000 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project), AMT, 6.25% due 9/15/2019 2,035 4,650 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project), AMT, 6.25% due 9/15/2029 4,745 1,250 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project), AMT, 9% due 6/01/2033 1,484 2,000 New Jersey Health Care Facilities Financing Authority Revenue Bonds (Pascack Valley Hospital Association), 6.625% due 7/01/2036 2,065 1,500 New Jersey Health Care Facilities Financing Authority, Revenue Refunding Bonds (Trinitas Hospital Obligation Group), 7.40% due 7/01/2020 1,669 3,450 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue Bonds, Series C, 5.05% due 12/15/2035 (a)(h) 887 1,990 Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed Revenue Bonds, 5.75% due 6/01/2032 2,089 1,425 Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed Revenue Bonds, 7% due 6/01/2041 1,624 - --------------------------------------------------------------------------------------------------------------------------------- New Mexico - 0.9% 2,500 Farmington, New Mexico, PCR, Refunding (Tucson Electric Power Company - San Juan Project), Series A, 6.95% due 10/01/2020 2,600 - --------------------------------------------------------------------------------------------------------------------------------- New York - 6.5% 1,400 Dutchess County, New York, IDA, Civic Facility Revenue Refunding Bonds (Saint Francis Hospital), Series A, 7.50% due 3/01/2029 1,530 2,610 Erie County, New York, IDA, Revenue Bonds (Orchard Park CCRC, Inc. Project), Series A, 6% due 11/15/2036 2,750 510 New York City, New York, City IDA, Civic Facility Revenue Bonds, Series C, 6.80% due 6/01/2028 552 1,515 New York City, New York, City IDA, Civic Facility Revenue Bonds (Special Needs Facilities Pooled Program), Series C-1, 6.625% due 7/01/2029 1,550 2,400 New York City, New York, City IDA, Special Facility Revenue Bonds (British Airways Plc Project), AMT, 7.625% due 12/01/2032 2,693
BlackRock MuniAssets Fund, Inc. Schedule of Investments as of August 31, 2006 (in Thousands)
Face State Amount Municipal Bonds Value - --------------------------------------------------------------------------------------------------------------------------------- $ 870 New York Liberty Development Corporation Revenue Bonds (National Sports Museum Project), Series A, 6.125% due 2/15/2019 $ 897 2,920 New York State Dormitory Authority, Non-State Supported Debt, Revenue Bonds (Mount Sinai-NYU Medical Center Health System), 5.50% due 7/01/2026 2,962 2,635 New York State Dormitory Authority, Non-State Supported Debt, Revenue Refunding Bonds (Mount Sinai Hospital), Series C, 5.50% due 7/01/2026 2,673 1,475 Suffolk County, New York, IDA, Continuing Care and Retirement, Revenue Refunding Bonds (Jeffersons Ferry Project), 5% due 11/01/2028 1,510 1,575 Westchester County, New York, IDA, Continuing Care Retirement, Mortgage Revenue Bonds (Kendal on Hudson Project), Series A, 6.50% due 1/01/2034 1,681 - --------------------------------------------------------------------------------------------------------------------------------- North Carolina - 0.6% 1,500 North Carolina Medical Care Commission, Retirement Facilities, First Mortgage Revenue Bonds (Givens Estates Project), Series A, 6.50% due 7/01/2032 1,612 - --------------------------------------------------------------------------------------------------------------------------------- Oklahoma - 0.5% 1,295 Norman, Oklahoma, Regional Hospital Authority, Hospital Revenue Bonds, 5.375% due 9/01/2036 1,347 - --------------------------------------------------------------------------------------------------------------------------------- Oregon - 0.7% 1,440 Western Generation Agency, Oregon, Cogeneration Project Revenue Bonds (Wauna Cogeneration Project), AMT, Series B, 7.40% due 1/01/2016 1,445 700 Western Generation Agency, Oregon, Cogeneration Project Revenue Bonds (Wauna Cogeneration Project), Series A, 7.125% due 1/01/2021 702 - --------------------------------------------------------------------------------------------------------------------------------- Pennsylvania - 5.8% 200 Bucks County, Pennsylvania, IDA, Retirement Community Revenue Bonds (Ann's Choice Inc.), Series A, 6.125% due 1/01/2025 214 1,550 Bucks County, Pennsylvania, IDA, Retirement Community Revenue Bonds (Ann's Choice Inc.), Series A, 6.25% due 1/01/2035 1,649 2,330 Montgomery County, Pennsylvania, IDA, Revenue Bonds (Whitemarsh Continuing Care Project), 6.125% due 2/01/2028 2,477 3,250 Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds (National Gypsum Company), AMT, Series A, 6.25% due 11/01/2027 3,427 2,270 Philadelphia, Pennsylvania, Authority for IDR (Air Cargo), AMT, Series A, 7.50% due 1/01/2025 2,488 6,440 Philadelphia, Pennsylvania, Authority for IDR, Commercial Development, 7.75% due 12/01/2017 6,481 - --------------------------------------------------------------------------------------------------------------------------------- Rhode Island - 1.0% 2,495 Central Falls, Rhode Island, Detention Facility Corporation, Detention Facility, Revenue Refunding Bonds, 7.25% due 7/15/2035 2,761 - --------------------------------------------------------------------------------------------------------------------------------- South Carolina - 1.7% 1,485 Connector 2000 Association, Inc., South Carolina, Toll Road and Capital Appreciation Revenue Bonds, Senior-Series B, 7.969% due 1/01/2014 (h) 838 3,500 South Carolina Jobs, EDA, Economic Development Revenue Bonds (Westminster Presbyterian Center), 7.75% due 11/15/2010 (b) 4,108 - --------------------------------------------------------------------------------------------------------------------------------- Tennessee - 1.1% 355 Shelby County, Tennessee, Health, Educational and Housing Facilities Board Revenue Bonds (Germantown Village), 6.25% due 12/01/2034 359 2,500 Shelby County, Tennessee, Health, Educational and Housing Facilities Board Revenue Bonds (Germantown Village), Series A, 7.25% due 12/01/2034 2,660 - --------------------------------------------------------------------------------------------------------------------------------- Texas - 6.2% 1,000 Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises Inc.), First Tier, Series A, 6.70% due 1/01/2028 1,065
BlackRock MuniAssets Fund, Inc. Schedule of Investments as of August 31, 2006 (in Thousands)
Face State Amount Municipal Bonds Value - --------------------------------------------------------------------------------------------------------------------------------- $ 2,550 Brazos River Authority, Texas, PCR, Refunding (Texas Utility Company), AMT, Series A, 7.70% due 4/01/2033 $ 2,977 1,680 Brazos River Authority, Texas, Revenue Refunding Bonds (Reliant Energy Inc. Project), Series B, 7.75% due 12/01/2018 1,794 3,185 Dallas-Fort Worth, Texas, International Airport Facilities Improvement Corporation Revenue Bonds (American Airlines, Inc.), AMT, 7.25% due 11/01/2030 3,185 1,170 Grand Prairie, Texas, Housing Finance Corporation Revenue Bonds (Independent Senior Living Center), 7.75% due 1/01/2034 1,172 1,400 Houston, Texas, Health Facilities Development Corporation, Retirement Facility Revenue Bonds (Buckingham Senior Living Community), Series A, 7.125% due 2/15/2034 1,555 750 Kerrville, Texas, Health Facilities Development Corporation, Hospital Revenue Bonds (Sid Peterson Memorial Hospital Project), 5.375% due 8/15/2035 776 3,190 Matagorda County, Texas, Navigation District Number 1, Revenue Refunding Bonds (Reliant Energy Inc.), Series C, 8% due 5/01/2029 3,404 1,860 Port Corpus Christi, Texas, Individual Development Corporation, Environmental Facilities Revenue Bonds (Citgo Petroleum Corporation Project), AMT, 8.25% due 11/01/2031 1,932 - --------------------------------------------------------------------------------------------------------------------------------- Utah - 0.6% 1,660 Carbon County, Utah, Solid Waste Disposal, Revenue Refunding Bonds (Laidlaw Environmental), AMT, Series A, 7.45% due 7/01/2017 1,727 - --------------------------------------------------------------------------------------------------------------------------------- Virginia - 8.1% 1,475 Dulles Town Center, Virginia, Community Development Authority, Special Assessment Tax (Dulles Town Center Project), 6.25% due 3/01/2026 1,541 86,800 Pocahontas Parkway Association, Virginia, Toll Road Revenue Bonds, Capital Appreciation, Senior-Series B, 5.95% due 8/15/2008 (b)(h) 20,848 1,000 Suffolk, Virginia, IDA, Retirement Facilities, Revenue Refunding Bonds (Lake Prince Center), 5.30% due 9/01/2031 1,014 - --------------------------------------------------------------------------------------------------------------------------------- Wisconsin - 0.7% 1,855 Wisconsin State Health and Educational Facilities Authority Revenue Bonds (New Castle Place Project), Series A, 7% due 12/01/2031 1,924 - --------------------------------------------------------------------------------------------------------------------------------- Puerto Rico - 0.2% 500 Puerto Rico Commonwealth, Public Improvement, GO, Series A, 5.25% due 7/01/2030 530 - --------------------------------------------------------------------------------------------------------------------------------- U.S. Virgin 3,000 Virgin Islands Government Refinery Facilities, Revenue Refunding Bonds (Hovensa Islands - 1.2% Coker Project), AMT, 6.50% due 7/01/2021 3,376 - --------------------------------------------------------------------------------------------------------------------------------- Total Municipal Bonds (Cost - $268,742) - 97.9% 281,594 - --------------------------------------------------------------------------------------------------------------------------------- Shares Held Short-Term Securities - --------------------------------------------------------------------------------------------------------------------------------- 500 Merrill Lynch Institutional Tax-Exempt Fund, 3.33% (e)(i) 500 - --------------------------------------------------------------------------------------------------------------------------------- Total Short-Term Securities (Cost - $500) - 0.2% 500 - --------------------------------------------------------------------------------------------------------------------------------- Total Investments (Cost - $269,242*) - 98.1% 282,094 Other Assets Less Liabilities - 1.9% 5,322 ------------ Net Assets - 100.0% $ 287,416 ============
BlackRock MuniAssets Fund, Inc. Schedule of Investments as of August 31, 2006 (in Thousands) * The cost and unrealized appreciation (depreciation) of investments as of August 31, 2006, as computed for federal income tax purposes, were as follows: Aggregate cost $ 269,212 ========= Gross unrealized appreciation $ 20,052 Gross unrealized depreciation (7,170) --------- Net unrealized appreciation $ 12,882 ========= (a) AMBAC Insured. (b) Prerefunded. (c) Escrowed to maturity. (d) Security may have a maturity of more than one year at time of issuance, but has variable rate and demand features that qualify it as a short-term security. The rate disclosed is that currently in effect. This rate changes periodically based upon prevailing market rates. (e) 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 -------------------------------------------------------------------------- Merrill Lynch Institutional Tax-Exempt Fund (2,806) $17 -------------------------------------------------------------------------- (f) Non-income producing security; issuer filed for bankruptcy or is in default of interest payments. (g) Restricted securities as to resale, representing approximately 1.6% of net assets, were as follows:
-------------------------------------------------------------------------------------------------------------------------- Acquisition Issue Date(s) Cost Value -------------------------------------------------------------------------------------------------------------------------- Camden County, New Jersey, Improvement Authority, Lease Revenue Bonds (Holt Hauling & Warehousing), AMT, Series A, 9.625% due 1/01/2011 1/29/1997 $ 5,925 $ 2,302 Camden County, New Jersey, Improvement Authority, Lease Revenue Bonds 2/06/1996- (Holt Hauling & Warehousing), AMT, Series A, 9.875% due 1/01/2021 1/29/1997 5,944 2,384 -------------------------------------------------------------------------------------------------------------------------- Total $11,869 $ 4,686 =========================
(h) Represents a zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase. (i) Represents the current yield as of August 31, 2006. 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) - There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the last fiscal quarter of the period covered by this report that has materially affected, or is 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 MuniAssets Fund, Inc. By: /s/ Robert C. Doll, Jr. ------------------------------ Robert C. Doll, Jr. Chief Executive Officer BlackRock MuniAssets Fund, Inc. Date: October 19, 2006 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ Robert C. Doll, Jr. ------------------------------ Robert C. Doll, Jr. Chief Executive Officer BlackRock MuniAssets Fund, Inc. Date: October 19, 2006 By: /s/ Donald C. Burke ------------------------------ Donald C. Burke Chief Financial Officer BlackRock MuniAssets Fund, Inc. Date: October 19, 2006 EX-99.CERT 2 e601107_ex99-cert.txt CERTIFICATION PURSUANT TO 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 MuniAssets Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock MuniAssets 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: October 19, 2006 /s/ Robert C. Doll, Jr. ------------------------------- Robert C. Doll, Jr. Chief Executive Officer BlackRock MuniAssets 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 MuniAssets Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of BlackRock MuniAssets 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: October 19, 2006 /s/ Donald C. Burke ------------------------------- Donald C. Burke Chief Financial Officer BlackRock MuniAssets Fund, Inc. -----END PRIVACY-ENHANCED MESSAGE-----