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<SEC-DOCUMENT>0000930413-07-007633.txt : 20070924
<SEC-HEADER>0000930413-07-007633.hdr.sgml : 20070924
<ACCEPTANCE-DATETIME>20070924123433
ACCESSION NUMBER:		0000930413-07-007633
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070731
FILED AS OF DATE:		20070924
DATE AS OF CHANGE:		20070924
EFFECTIVENESS DATE:		20070924

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0001137391
		IRS NUMBER:				510409109
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-10331
		FILM NUMBER:		071130985

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		888-825-2257

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>c50331_nq.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>bfz.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">


<P align="center">
<FONT face="serif">UNITED STATES <br>
SECURITIES AND EXCHANGE COMMISSION<br>
</FONT><FONT face="serif">Washington, D.C. 20549 </FONT></P>
<P align="center">
<B><FONT face="serif">FORM N-Q</FONT></B></P>
<P align="center">
<B><FONT face="serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED <br>
MANAGEMENT INVESTMENT COMPANY </FONT></B></P>
<P align="left">
<FONT size=2 face="serif">Investment Company Act file number 811-10331 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Name of Fund: BlackRock California Municipal Income Trust </FONT></P>
<P align="left">
<FONT size=2 face="serif">Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 </FONT></P>

<P align="left" style="margin-left:20px;text-indent:-20px"><FONT size=2 face="serif">Name
    and address of agent for service: Robert S. Kapito, President, BlackRock
    California Municipal Income <br>
  Trust, 40 East 52</FONT><SUP><FONT size=2 face="serif">nd</FONT></SUP><FONT size=2 face="serif"> Street, New York, NY
  10022. </FONT></P>
<P align="left">
<FONT size=2 face="serif">Registrant&#146;s telephone number, including area code: (888) 825-2257 </FONT></P>
<P align="left"><FONT size=2 face="serif">Date of fiscal year end: 10/31/2007
    </FONT></P>
<P align="left"><FONT size=2 face="serif">Date of reporting period: 05/01/2007 &#150; 07/31/2007 </FONT></P>
<P align="left">&nbsp;</P>
<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>

<P align="left"><font size=2 face="serif">Item 1 &#150; Schedule of Investments<br>
</font></P>
<P align="left"><B><FONT face="serif">PORTFOLIO OF INVESTMENTS (unaudited) <br>
  JULY 31, 2007</FONT></B> <br>
  <B><FONT face="serif">BlackRock California Municipal Income Trust (BFZ)</FONT></B><B><FONT color="#ff0000" face="serif"> </FONT></B><br>

  <B><FONT size=2 face="serif">(Percentages shown are based on Net Assets) </FONT></B></P>
<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=right colspan=2>
      <div align="center"><B><FONT size=2 face="serif">Principal</FONT></B>&nbsp;
    </div></TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD width=80% align=left>&nbsp;

	</TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=2>
<B><FONT size=2 face="serif">Amount</FONT></B>&nbsp;
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD colspan="2" align=right style="border-bottom:1px solid #000000;">
      <div align="center"><B><FONT size=2 face="serif">(000)</FONT></B>
        <B><FONT size=2 face="serif"></FONT></B>&nbsp;
	  </div></TD>
	<TD width=3% style="border-bottom:1px solid #000000;">&nbsp;
	</TD>
	<TD align=center style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Description</FONT></B>&nbsp;
	</TD>
	<TD align=right style="border-bottom:1px solid #000000;">&nbsp;
      <div align="center"><B></B>
    </div></TD>
    <TD align=right style="border-bottom:1px solid #000000;"><div align="center"><b><font size=2 face="serif">Value</font></b></div></TD>
    <TD align=right style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD width=2% align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<B><FONT size=2 face="serif">LONG-TERM INVESTMENTS&#151;156.4%</FONT></B>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<B><FONT size=2 face="serif">California&#151;137.5%</FONT></B>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Anaheim Pub. Fing. Auth., Recreational Fac. Impvts. Lease Abatement RB, Pub. Impvt. Proj.,</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>
      <div align="left"><FONT size=2 face="serif">&#36;</FONT>
      </div></TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">24,500</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Ser. C, Zero Coupon, 9/01/31, FSA</FONT>&nbsp;
	</TD>
	<TD><FONT size=2 face="serif">&#36;</FONT>
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">7,546,245</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">6,070</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Ser. C, Zero Coupon, 9/01/32, FSA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">1,776,082</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left><FONT size=2 face="serif">California GO,</FONT>&nbsp; </TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">5,500</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Ser. BZ, 5.35%, 12/01/21, MBIA, AMT</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">5,506,710</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">5,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Ser. BZ, 5.375%, 12/01/24, MBIA, AMT</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">5,006,200</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right valign="top">
<FONT size=2 face="serif">7,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">California Statewide Cmntys. Dev Auth., Hlth., Hosp. &amp; Nursing Home RB, Kaiser Permanente Proj., Ser. B,<br>
&nbsp;&nbsp;&nbsp;5.25%, 3/01/45</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left><div align="right"><FONT size=2 face="serif">7,101,080</FONT>

	</div></TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">California,</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">10,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Cash Flow Mgmt. Ad Valorem Ppty. Tax GO, 5.50%, 11/01/33</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">10,690,400</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">6,390</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Misc. Tax GO, 5.00%, 6/01/37</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">6,559,399</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=right>
      <div align="left"><FONT size=2 face="serif">City of Chula Vista,</FONT>&nbsp;
    </div></TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">4,395</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Natural Gas Util. Impvts. Natural Gas RB, 5.00%, 12/01/27, AMT</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">4,483,603</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">5,065</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;RB, San Diego Gas &amp; Elec. Proj., 5.00%, 12/01/27, AMT</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">5,154,701</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">1,905</FONT>
	</TD>
	<TD width=3%><SUP><FONT size=2 face="serif">1</FONT></SUP>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">City of Richmond, Swr. Impvts. RB, Zero Coupon, 8/01/31, FGIC</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">604,533</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">City of San Jose, Local Multi-Fam. Hsg. RB,</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">2,880</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Lenzen Hsg. Proj., Ser. B, 5.45%, 2/20/43, AMT</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">2,935,901</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">3,595</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Vlgs. Pkwy. Sr. Apts. Proj., Ser. D, 5.50%, 4/01/34, AMT</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">3,656,690</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">2,000</FONT>
	</TD>
	<TD width=3%><SUP><FONT size=2 face="serif">2</FONT></SUP>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">City of Vernon, Elec., Pwr. &amp; Lt. Impvts. RB, Malburg Generating Station Proj., 5.50%, 4/01/08</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">2,025,240</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right valign="top">
<FONT size=2 face="serif">5,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Cnty. Tobacco Sec. Agcy., Misc. Purp. Tobacco Settlement Funded RB, Stanislaus Fdg. Proj., Ser. A, 5.875%, 6/01/43</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left><div align="right"><FONT size=2 face="serif">5,141,750</FONT>

	</div></TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Dept. of Wtr. Recs.,</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">6,000</FONT>
	</TD>
	<TD width=3%><SUP><FONT size=2 face="serif">2</FONT></SUP>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Cash Flow Mgmt., Elec., Pwr. &amp; Lt. RB, Ser. A, 5.375%, 5/01/12</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">6,476,820</FONT></TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">4,000</FONT>
	</TD>
	<TD width=3%><SUP><FONT size=2 face="serif">2</FONT></SUP>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Elec., Pwr. &amp; Lt. RB, Ser. A, 5.375%, 5/01/12</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">4,317,880</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right valign="top">
<FONT size=2 face="serif">10,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Edl. Facs. Auth., Univ. &amp; Coll. Impvts. RB, Stanford Univ. Proj., Ser. Q, 5.25%, 12/01/32</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">10,410,500</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right valign="top">
<FONT size=2 face="serif">6,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">El Monte, Pkg. Fac. Impvts. Lease Abatement COP, Dept. of Pub. Svcs. Facs. Phase II Proj., 5.25%, 1/01/34, AMBAC</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left><div align="right"><FONT size=2 face="serif">6,150,360</FONT>

	</div></TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Elk Grove Unified Sch. Dist., Sch. Impvts. ST, Cmnty. Facs. Dist. 1 Proj.,</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">7,485</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 12/01/29, AMBAC</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">2,262,192</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">7,485</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 12/01/30, AMBAC</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">2,140,560</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">7,485</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 12/01/31, AMBAC</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">2,024,468</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Foothill Eastn. Transp. Corridor Agcy., Hwy. Tolls RB,</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">5,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 1/15/26</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">4,682,150</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">5,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 1/15/33</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">1,129,650</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">5,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 1/15/34</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">1,061,800</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">13,445</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 1/15/35</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">2,688,059</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">1,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 1/15/38</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">166,270</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">10,030</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;5.75%, 1/15/40</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">10,400,508</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Golden St. Tobacco Sec. Corp., Misc. Purps. Tobacco Settlement Funded RB,</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">2,000</FONT>
	</TD>
	<TD width=3%><SUP><FONT size=2 face="serif">2</FONT></SUP>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Ser. A-1, 6.625%, 6/01/13</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">2,279,760</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">8,500</FONT>
	</TD>
	<TD width=3%><SUP><FONT size=2 face="serif">2</FONT></SUP>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Ser. B, 5.50%, 6/01/13</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">9,194,705</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">5,800</FONT>
	</TD>
	<TD width=3%><SUP><FONT size=2 face="serif">2</FONT></SUP>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Ser. B, 5.625%, 6/01/13</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">6,311,502</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Hlth. Facs. Fin. Auth., Hlth., Hosp. &amp; Nursing Home Impvts. RB,</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>
<FONT size=2 face="serif">&nbsp;</FONT>
	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">4,890</FONT>
	</TD>
	<TD width=3%><SUP><FONT size=2 face="serif">1</FONT></SUP>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Kaiser Proj., Ser. A, 5.40%, 5/01/28</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">4,969,022</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">3,000</FONT>
	</TD>
	<TD width=3%><SUP><FONT size=2 face="serif">2</FONT></SUP>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Valleycare Med. Ctr. Proj., Ser. A, 5.375%, 5/01/12</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">3,203,790</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right valign="top">
<FONT size=2 face="serif">5,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Huntington Beach Union High Sch. Dist., Sch. Impvts. Ad Valorem Ppty. Tax GO, Zero Coupon,
8/01/33, FGIC</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left><div align="right"><FONT size=2 face="serif">1,427,400</FONT></div></TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Infrastructure &amp; Econ. Dev. Bank,</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">13,500</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Hlth., Hosp. &amp; Nursing Home Impvts. RB, Kaiser Asst. Corp. Proj.,
Ser. A, 5.55%, 8/01/31</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">13,972,635</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">15,250</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Hlth., Hosp. &amp; Nursing Home Impvts. RB, The J. David Gladstone Proj.,
5.25%, 10/01/34</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">15,629,725</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">10,000</FONT>
	</TD>
	<TD width=3%><SUP><FONT size=2 face="serif">2</FONT></SUP>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Hwy. Impvts. Tolls RB, Bay Area Toll Brdgs. Proj., Ser. A, 5.00%,
1/01/28, AMBAC</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">10,887,400</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">4,965</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Irvine, Local Sngl. Fam. Hsg. RB, Meadows Mobile Home Pk. Proj., Ser. A, 5.70%, 3/01/28</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">5,091,806</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">7,700</FONT>
	</TD>
	<TD width=3%><SUP><FONT size=2 face="serif">2</FONT></SUP>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Kaweah Delta Hlth. Care Dist., Hlth., Hosp. &amp; Nursing Home RB, 6.00%, 8/01/12</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">8,592,430</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Lathrop Fing. Auth., Wtr. Util. Impvts. Wtr. RB,</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">2,855</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;5.90%, 6/01/27</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">2,958,579</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">5,140</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;6.00%, 6/01/35</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">5,365,183</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Live Oak Unified Sch. Dist., Sch. Impvts. Ad Valorem Ppty. Tax GO, Cap. Apprec. Election 2004,</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">985</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 8/01/35, XLCA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">231,800</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">1,030</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 8/01/36, XLCA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">228,742</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">1,080</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 8/01/37, XLCA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">226,541</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">1,125</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 8/01/38, XLCA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">222,840</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">1,175</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 8/01/39, XLCA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">219,279</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">1,230</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 8/01/40, XLCA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">216,677</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>

<TR valign="bottom">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">1,285</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 8/01/41, XLCA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">213,644</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">1,340</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 8/01/42, XLCA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">210,219</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">1,400</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 8/01/43, XLCA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">206,990</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">1,465</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Zero Coupon, 8/01/44, XLCA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">204,294</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right valign="top">
<FONT size=2 face="serif">4,110</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Los Angeles Regl. Arpts. Impvt. Corp., Port, Arpt. &amp; Marina Impvts. RB, American Airlines, Inc. Proj.,<br>&nbsp;&nbsp;&nbsp; Ser. C, 7.50%, 12/01/24, AMT</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left><div align="right"><FONT size=2 face="serif">4,540,975</FONT></div></TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right valign="top">
<FONT size=2 face="serif">5,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Los Angeles Unified Sch. Dist., Ad Valorem Ppty. Tax GO, Ser. A-1, 4.50%, 1/01/28, MBIA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">4,927,550</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">8,900</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Met. Wtr. Dist. of Southern California, Wtr. Utils. Impvts. RB, Ser A, 5.00%, 7/01/37</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">9,281,454</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">1,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Palm Springs, Hsg. RB, Sahara Mobile Home Pk. Proj., 5.625%, 5/15/26</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">1,044,590</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
	<TD width=5% align=left>&nbsp;

	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Poll. Ctrl. Fing. Auth., Rec. Recovery Impvts. RB,</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
    <TD width=1% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">2,290</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Central Valley Wst. Svc. Proj., Ser. A-2, 5.40%, 4/01/25, AMT</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">2,315,076</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">6,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Chemical Wst. Mgmt., Inc. Proj., Ser. C, 5.125%, 11/01/23, AMT</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">5,950,560</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right>
<FONT size=2 face="serif">4,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Rancho Cucamonga Cmnty. Facs. Dist., Pub. Impvts. ST, Ser. A, 6.50%, 9/01/33</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">4,278,760</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right valign="top">
<FONT size=2 face="serif">15,500</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Rancho Cucamonga Redev. Agcy., Econ. Impvts. TA, Rancho Redev. Proj., 5.125%, 9/01/30, MBIA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">15,880,370</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
  <TD align=right>&nbsp;</TD>
	<TD width=5% align=right valign="top">
<FONT size=2 face="serif">9,000</FONT>
	</TD>
	<TD width=3%>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">San Diego Cmnty. Coll. Dist., Univ. &amp; Coll. Impvts. Ad Valorem Ppty. Tax GO, 5.00%, 8/01/32, FSA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="serif">9,413,820</FONT>
	</TD>
    <TD width=1% align=right>&nbsp;</TD>
</TR>
</TABLE>

<BR>
<P align="center">
<FONT size=2 face="serif">1</FONT>



</P>
<HR noshade align="center" width="100%" size=4>

<P STYLE="page-break-before:always"></P><PAGE>




<P align="left">
<B><FONT face="serif">BlackRock California Municipal Income Trust (BFZ) (continued)</FONT></B><B><FONT color="#ff0000" face="serif"> </FONT></B><br>

<B><FONT size=2 face="sans-serif">(</FONT></B><B><FONT size=2 face="serif">Percentages shown are based on Net Assets)</FONT></B><B><FONT size=2 face="sans-serif"> </FONT></B></P>




<br>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD height="20" colspan="2" align=right>
      <div align="center"></div>      <div align="center"><b><font size=2 face="serif">Principal</font></b> </div></TD>
	<TD width="4%" align=right>&nbsp;</TD>
	<TD width="78%" align=right>&nbsp;

	</TD>
	<TD width="2%">
	  <div align="left"></div></TD>
	<TD width="8%" align=left>

	  <div align="right"></div></TD>
    <TD width="1%" align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD colspan="2" align=center>      <div align="center"><b><font size=2 face="serif">Amount</font></b></div></TD>
	<TD align=center>&nbsp;</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD colspan="2" align=right style="border-bottom:1px solid #000000;">
      <div align="center"><B><FONT size=2 face="serif">(000)</FONT></B>&nbsp;    </div></TD>
	<TD align=left style="border-bottom:1px solid #000000;">&nbsp;
	</TD>
	<TD align=right style="border-bottom:1px solid #000000;">
      <div align="center"><B><FONT size=2 face="serif">Description</FONT></B>&nbsp;
      </div></TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;
	  <div align="left"></div></TD>
	<TD align=right style="border-bottom:1px solid #000000;">
      <div align="center"><B><FONT size=2 face="serif">Value</FONT></B>&nbsp;
    </div></TD>
    <TD align=right style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD width="2%" align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<B><FONT size=2 face="serif">California&#151; (cont'd)</FONT></B>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>
      <div align="left"><FONT size=2 face="serif">&#36;</FONT>
      </div></TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">6,500</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">San Francisco City &amp; Cnty. Arpts. Comm., Port, Arpt. &amp; Marina RB, Ser. 27-A, 5.25%, 5/01/31,</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;MBIA, AMT</FONT>&nbsp;
	</TD>
	<TD align=right><div align="left"><font size=2 face="serif">&#36;</font></div></TD>
    <TD align=right><div align="right"><font size=2 face="serif">6,648,005</font></div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">San Francisco City &amp; Cnty. Redev. Agcy., Cmnty. Facs. Dist. No. 6 Pub. Impvts. ST, Mission Bay</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;South Proj.,</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">1,775</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
      <div align="left"><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;6.125%, 8/01/31</FONT>&nbsp;
      </div></TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=right>
      <div align="right"><FONT size=2 face="serif">1,852,852</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">7,500</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
      <div align="left"><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;6.25%, 8/01/33</FONT>&nbsp;
      </div></TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=right>
      <div align="right"><FONT size=2 face="serif">7,850,475</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">Santa Clara Cnty. Hsg. Auth., Local Multi-Fam. Hsg. RB,</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">1,715</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;John Burns Gardens Apts. Proj., Ser. A, 5.85%, 8/01/31, AMT</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=right>
      <div align="right"><FONT size=2 face="serif">1,781,851</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">1,235</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;River Town Apts. Proj., Ser. A, 6.00%, 8/01/41, AMT</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=right>
      <div align="right"><FONT size=2 face="serif">1,288,327</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">3,075</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">Santa Clarita Cmnty. Facs. Dist., ST, Valencia Town Ctr. Proj., 5.85%, 11/15/32</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=right>
      <div align="right"><FONT size=2 face="serif">3,196,339</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">Statewide Cmnty. Dev. Auth., Hlth., Hosp. &amp; Nursing Home Impvts. RB,</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">4,000</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Daughters of Charity Proj., Ser. A, 5.25%, 7/01/30</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=right>
      <div align="right"><FONT size=2 face="serif">4,048,880</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">10,000</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Sutter Hlth. Oblig. Grp. Proj., Ser. B, 5.625%, 8/15/42</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=right>
      <div align="right"><FONT size=2 face="serif">10,548,000</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">2,000</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">Upland Unified Sch. Dist., Sch. Impvts. Ad Valorem
Ppty. Tax GO, Ser. B, 5.125%, 8/01/25, FSA</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=right>
      <div align="right"><FONT size=2 face="serif">2,092,900</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">2,245</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">Val Verde Unified Sch. Dist., ST, 6.25%, 10/01/28</FONT>&nbsp;
	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;
	  <div align="left"></div></TD>
	<TD align=right style="border-bottom:1px solid #000000;">
      <div align="right"><FONT size=2 face="serif">2,405,450</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;
	  <div align="left"></div></TD>
	<TD align=left style="border-bottom:1px solid #000000;"><div align="right"><font size=2 face="serif">313,510,948</font>

	</div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
      <div align="left"><B><FONT size=2 face="serif">Multi</FONT></B><B><FONT size=2 face="serif">-State&#151;9.6%</FONT></B>&nbsp;
	  </div></TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">Charter Mac Equity Issuer Trust,</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">7,000</FONT><SUP></SUP>
	</TD>
	<TD align=left><sup><font size=2 face="serif">3</font></sup>

	</TD>
	<TD align=right>
      <div align="left"><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Ser. A</FONT>
        <FONT size=2 face="serif">-2, 6.30%, 6/30/49</FONT>&nbsp;
	  </div></TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=right>
      <div align="right"><FONT size=2 face="serif">7,215,670</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">4,000</FONT><SUP></SUP>
	</TD>
	<TD align=left><sup><font size=2 face="serif">3</font></sup>

	</TD>
	<TD align=right>
      <div align="left"><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Ser. B</FONT>
        <FONT size=2 face="serif">-1, 6.80%, 11/30/50</FONT>&nbsp;
	  </div></TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=right>
      <div align="right"><FONT size=2 face="serif">4,229,040</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="serif">MuniMae TE Bond Subsidiary LLC,</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">7,000</FONT></TD>
	<TD align=left><sup><font size=2 face="serif">3</font></sup>

	</TD>
	<TD align=right>
      <div align="left"><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Ser. A</FONT>
        <FONT size=2 face="serif">-1, 6.30%, 6/30/49</FONT>&nbsp;
	  </div></TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=right>
      <div align="right"><FONT size=2 face="serif">7,207,060</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">3,000</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
      <div align="left"><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;Ser. B</FONT>
        <FONT size=2 face="serif">-1, 6.80%, 6/30/49</FONT>&nbsp;
	  </div></TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;
	  <div align="left"></div></TD>
	<TD align=right style="border-bottom:1px solid #000000;">
      <div align="right"><FONT size=2 face="serif">3,168,270</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;
	  <div align="left"></div></TD>
	<TD align=left style="border-bottom:1px solid #000000;"><div align="right"><font size=2 face="serif">21,820,040</font>

	</div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<B><FONT size=2 face="serif">Puerto Rico&#151;9.3%</FONT></B>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">10,000</FONT><SUP></SUP>
	</TD>
	<TD align=left><sup><font size=2 face="serif">2</font></sup>

	</TD>
	<TD align=left>
<FONT size=2 face="serif">Elec. Pwr. Auth., Elec., Pwr. &amp; Lt. Impvts. RB, Ser. 2, 5.25%, 7/01/12</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=right>
      <div align="right"><FONT size=2 face="serif">10,750,800</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">10,000</FONT><SUP></SUP>
	</TD>
	<TD align=left><sup><font size=2 face="serif">2</font></sup>

	</TD>
	<TD align=left>
<FONT size=2 face="serif">Pub. Fin. Corp., Cash Flow Mgmt. Misc. RB, Ser. E, 5.70%, 2/01/10</FONT>&nbsp;
	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;
	  <div align="left"></div></TD>
	<TD align=right style="border-bottom:1px solid #000000;">
      <div align="right"><FONT size=2 face="serif">10,450,800</FONT>
      </div></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;
	  <div align="left"></div></TD>
	<TD align=left style="border-bottom:1px solid #000000;"><div align="right"><font size=2 face="serif">21,201,600</font>

	</div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right style="border-bottom:1px solid #000000;">&nbsp;

	</TD>
	<TD width="5%" align=left style="border-bottom:1px solid #000000;">&nbsp;

	</TD>
	<TD align=left style="border-bottom:1px solid #000000;">&nbsp;

	</TD>
	<TD align=left>
<B><FONT size=2 face="serif">Total Long-Term Investments </FONT></B><FONT size=2 face="serif">(cost &#36;339,511,297)</FONT>&nbsp;
	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;
	  <div align="left"></div></TD>
	<TD align=left style="border-bottom:1px solid #000000;"><div align="right"><font size=2 face="serif">356,532,588</font>	</div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD colspan="3" align=center>
<B><FONT size=2 face="serif">Shares</FONT></B>&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD colspan="3" align=right style="border-bottom:1px solid #000000;"><div align="center"><b><font size=2 face="serif">(</font></b><b><font size=2 face="serif">000)</font></b>&nbsp;	</div>
      <div align="center"></div></TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<B><FONT size=2 face="serif">MONEY MARKET FUND&#151;0.2%</FONT></B>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left>

	  <div align="right"></div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right>&nbsp;

	</TD>
	<TD width="5%" align=right>
<FONT size=2 face="serif">437</FONT><SUP></SUP>
	</TD>
	<TD align=left><sup><font size=2 face="serif">4,5</font></sup>

	</TD>
	<TD align=left>
<FONT size=2 face="serif">CMA California Mun. Money Fund, 3.07% (cost &#36;436,969)</FONT>&nbsp;
	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;
	  <div align="left"></div></TD>
	<TD align=left style="border-bottom:1px solid #000000;"><div align="right"><font size=2 face="serif">436,969</font>

	</div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=left colspan=4>
<B><FONT size=2 face="serif">Total Investments &#151;156.6% </FONT></B><FONT size=2 face="serif">(cost &#36;339,948,266</FONT><SUP><FONT size=2 face="serif">6</FONT></SUP><FONT size=2 face="serif">)</FONT>&nbsp;
	</TD>
	<TD><div align="left"><font size=2 face="serif">&#36;</font>
    </div></TD>
	<TD align=left><div align="right"><font size=2 face="serif">356,969,557</font>

	</div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=4>
<FONT size=2 face="serif">Other assets in excess of liabilities &#151;1.3%</FONT>&nbsp;
	</TD>
	<TD>
	  <div align="left"></div></TD>
	<TD align=left><div align="right"><font size=2 face="serif">2,990,510</font>

	</div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#E6E6E6">
	<TD align=left colspan=4>
<FONT size=2 face="serif">Preferred shares at redemption value, including dividends payable &#151;(57.9)%</FONT>&nbsp;
	</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;
	  <div align="left"></div></TD>
	<TD align=left style="border-bottom:1px solid #000000;"><div align="right"><font size=2 face="serif">(132,019,398</font>

	</div></TD>
    <TD align=left><font size=2 face="serif">)</font>&nbsp; </TD>
</TR>
<TR valign="bottom">
	<TD align=left colspan=4>
<B><FONT size=2 face="serif">Net Assets Applicable to Common Shareholders &#151;100%</FONT></B>&nbsp;
	</TD>
	<TD style="border-bottom:3px double #000000"><div align="left"><font size=2 face="serif">&#36;</font>
    </div></TD>
	<TD align=left style="border-bottom:3px double #000000"><div align="right"><font size=2 face="serif">227,940,669</font>

	</div></TD>
    <TD align=left>&nbsp;</TD>
</TR>
</TABLE>




<div style="border-bottom:1px solid #000000; width:100px">&nbsp;</div>
<BR>

<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD width=2% align=left valign="top"><font size=1 face="serif">1 </font></TD>
	<TD align=left width=98%>
<FONT size=2 face="serif">Security is collateralized by Municipal or U.S. Treasury
obligations.</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top">&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=2% align=left valign="top"><font size=1 face="serif">2 </font></TD>
	<TD width=98% align=left>
<FONT size=2 face="serif">This bond is prerefunded. U.S. government securities,
held in escrow, are used to pay interest on this security, as well as retire
the bond in full at the date indicated, typically at a premium to par.</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top">&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=2% align=left valign="top"><font size=1 face="serif">3 </font></TD>
	<TD width=98% align=left>
<FONT size=2 face="serif">Security is not registered under the Securities Act
of 1933. These securities may be resold in transactions in accordance with Rule
144A under that Act, to qualified institutional buyers. As of July 31, 2007, the Trust held 8.2% of its net assets, with a current market value of</FONT>&nbsp;
<FONT size=2 face="serif">&#36;18,651,770, in securities restricted as to resale.</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top">&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=2% align=left valign="top"><font size=1 face="serif">4</font></TD>
	<TD align=left width=98%>
<FONT size=2 face="serif"> Represents an investment in an affiliate.</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top">&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=2% align=left valign="top"><font size=1 face="serif">5 </font></TD>
	<TD align=left width=98%>
<FONT size=2 face="serif">Represents current yield as of July 31, 2007.</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top">&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=2% align=left valign="top"><font size=1 face="serif">6 </font></TD>
	<TD width=98% align=left>
<FONT size=2 face="serif">Cost for federal income tax purposes is &#36;339,978,549. The net unrealized appreciation on a tax basis is &#36;16,991,008, consisting of &#36;17,641,091 gross unrealized appreciation and &#36;650,083 gross unrealized depreciation.</FONT>&nbsp;
	</TD>
</TR>
</TABLE>
<BR>
<TABLE width=50% border=0 align="center" cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD colspan="5" align=right style="border-bottom:1px solid #000000">&nbsp;</TD>
  </TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
      <div align="center"><B><FONT size=2 face="serif">KEY TO ABBREVIATIONS</FONT></B>&nbsp;
      </div></TD>
</TR>
<TR valign="bottom">
	<TD align=right>
<FONT size=2 face="serif">AMBAC</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&#151;</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">American Municipal Bond Assurance Corp.</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD align=right>
<FONT size=2 face="serif">AMT</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&#151;</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Subject to Alternative Minimum Tax</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD align=right>
<FONT size=2 face="serif">COP</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&#151;</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Certificate of Participation</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD align=right>
<FONT size=2 face="serif">FGIC</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&#151;</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Financial Guaranty Insurance Co.</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD align=right>
<FONT size=2 face="serif">FSA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&#151;</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Financial Security Assurance</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD align=right>
<FONT size=2 face="serif">GO</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&#151;</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">General Obligation</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD align=right>
<FONT size=2 face="serif">MBIA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&#151;</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Municipal Bond Insurance Assoc.</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD align=right>
<FONT size=2 face="serif">RB</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&#151;</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Revenue Bond</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD align=right>
<FONT size=2 face="serif">ST</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&#151;</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Special Tax</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD align=right>
<FONT size=2 face="serif">TA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&#151;</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">Tax Allocation</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD align=right>
<FONT size=2 face="serif">XLCA</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">&#151;</FONT>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="serif">XL Capital Assurance</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
  <TD colspan="5" align=right style="border-bottom:1px solid #000000">&nbsp;</TD>
  </TR>
</TABLE>

<P align="center">
<FONT size=2 face="serif">2</FONT></P>
</b>

<HR noshade align="center" width="100%" size=4>

<P align="left" style="page-break-before:always"></P><PAGE>



<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=9% align=left valign="top" nowrap><font size=2 face="serif">Item 2 &#150;</font></TD>
  <TD colspan="2" align=left valign="top"><font size=2 face="serif">Controls and Procedures</font></TD>
  <TD width=50% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top">&nbsp;</TD>
  <TD colspan="2" align=left valign="top">&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top"><font size=2 face="serif">2(a) &#150;</font></TD>
  <TD colspan="3" align=left valign="top"><font size=2 face="serif">The registrant&#146;s
      principal executive and principal financial officers or persons performing
      similar functions have concluded that the registrant&#146;s disclosure
      controls and procedures (as defined in Rule 30a-3(c) under the Investment
      Company Act of 1940, as amended (the &#147;1940 Act&#148;)) 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 and Exchange Act of 1934, as
    amended. </font></TD>
  </TR>
<TR valign="bottom">
  <TD align=left valign="top">&nbsp;</TD>
  <TD colspan="3" align=left valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top"><font size=2 face="serif">2(b) &#150;</font></TD>
  <TD colspan="3" align=left valign="top"><font size=2 face="serif">There were
      no changes in the registrant&#146;s internal control over financial reporting
      (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a -3(d))
      that occurred during the registrant&#146;s last fiscal quarter that have
      materially affected, or are reasonably likely to materially affect, the
    registrant&#146;s internal control over financial reporting. </font></TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top">&nbsp;</TD>
  <TD colspan="3" align=left valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top"><font size=2 face="serif">Item 3 &#150;</font></TD>
  <TD colspan="3" align=left valign="top"><font size=2 face="serif">Exhibits</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left><font size=2 face="serif">Certifications &#150; Attached
    hereto</font></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="3" align=left valign="top"><font size=2 face="serif">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. </font></TD>
  </TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="3" align=left valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="3" align=left valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left>
    <FONT size=2 face="serif">BlackRock California Municipal Income Trust</FONT>	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR>
  <TD>&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
	<TD width="36%">&nbsp;

	</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left><font size=2 face="serif">By:</font></TD>
	<TD align=left style="border-bottom:1px solid #000000"><FONT size=2 face="serif">/s/
	    Donald C. Burke</FONT>
</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
	<TD align=left> <FONT size=2 face="serif">Donald C. Burke,</FONT>
	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
	<TD align=left> <FONT size=2 face="serif">Treasurer of</FONT>
	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
	<TD align=left> <FONT size=2 face="serif">BlackRock California Municipal Income Trust</FONT>
	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left><font size=2 face="serif">Date: September 20, 2007</font></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="3" align=left><font size=2 face="serif">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.</font></TD>
  </TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left><font size=2 face="serif">By:</font></TD>
  <TD align=left style="border-bottom:1px solid #000000"><font size=2 face="serif">/s/
      Robert S. Kapito</font></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left><font size=2 face="serif">Robert S. Kapito,</font></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left><font size=2 face="serif">President (principal executive officer)
    of</font> </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left><font size=2 face="serif">BlackRock California Municipal Income
    Trust</font></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left><font size=2 face="serif">Date: September 20, 2007&nbsp;</font></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left><font size=2 face="serif">By:</font></TD>
  <TD align=left style="border-bottom:1px solid #000000"><FONT size=2 face="serif">/s/
      Donald C. Burke</FONT></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left><FONT size=2 face="serif">Donald C. Burke,</FONT> </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left><font size=2 face="serif">Treasurer (principal financial officer)
    of</font> </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left><font size=2 face="serif">BlackRock California Municipal Income
    Trust</font> </TD>
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</TR>
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  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
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  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left><font size=2 face="serif">Date: September 20, 2007</font></TD>
  <TD align=left>&nbsp;</TD>
</TR>
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  <TD align=left>&nbsp;</TD>
  <TD colspan="2" align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>c50331_ex99cert.htm
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   <TITLE>c50331_ex99cert.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
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<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="serif">EX-99. CERT</FONT></B>
	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF</FONT></B>
	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="serif">THE SARBANES-OXLEY ACT OF 2002</FONT></B>
	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap style="border-bottom:1px solid #000000">&nbsp;</TD>
</TR>
</TABLE>
<br>
<BR>
<P align="left">
<FONT size=2 face="serif">I, Robert S. Kapito, President (principal executive officer) of BlackRock California Municipal Income Trust, certify that: </FONT></P>
<P align="left">
<FONT size=2 face="serif">1.</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this report on Form N-Q of BlackRock California Municipal Income Trust; </FONT></P>
<P align="left">
<FONT size=2 face="serif">2.</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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;</FONT></P>
<P align="left">
<FONT size=2 face="serif">3.</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; </FONT></P>
<P align="left">
<FONT size=2 face="serif">4.</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;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: </FONT></P>


<P align="left" style="margin-left:25px"><FONT size=2 face="serif">a)</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; </FONT></P>
<P align="left" style="margin-left:25px"><FONT size=2 face="serif">b)</FONT> <FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; </FONT></P>
<P align="left" style="margin-left:25px"><FONT size=2 face="serif">c)</FONT> <FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;evaluated the effectiveness of the registrant&#146;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 </FONT></P>
<P align="left" style="margin-left:25px"><FONT size=2 face="serif">d)</FONT> <FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s
  most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s
  internal control over financial reporting; and </FONT></P>
<P align="left">
<FONT size=2 face="serif">5.</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and the audit committee of the
registrant&#146;s board of directors (or persons performing the equivalent functions): </FONT></P>
<P align="left" style="margin-left:25px">
<FONT size=2 face="serif">a)</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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&#146;s ability to record, process, summarize, and report financial information; and </FONT></P>
<P align="left" style="margin-left:25px"><FONT size=2 face="serif">b)</FONT> <FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s
  internal control over financial reporting. </FONT></P>
<P align="left">&nbsp;</P>
<TABLE width="30%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left nowrap><font size=2 face="serif">Date: September 20, 2007</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">/s/
        Robert S. Kapito</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Robert S. Kapito,</FONT> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><font size=2 face="serif">President (principal
    executive officer) of</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><font size=2 face="serif">BlackRock California
    Municipal Income Trust</font> </TD>
  </TR>
</TABLE>
<BR>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE><br>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><B><FONT size=2 face="serif">EX-99. CERT</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><B><FONT size=2 face="serif">CERTIFICATION PURSUANT TO RULE
          30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><B><FONT size=2 face="serif">THE SARBANES-OXLEY ACT OF 2002</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap style="border-bottom:1px solid #000000">&nbsp;</TD>
  </TR>
</TABLE>
<BR>
<P align="left">
<FONT size=2 face="serif">I, Donald C. Burke, Treasurer (principal financial officer) of BlackRock California Municipal Income Trust, certify that: </FONT></P>
<P align="left">
<FONT size=2 face="serif">1.</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this report on Form N-Q of BlackRock California Municipal Income Trust; </FONT></P>
<P align="left">
<FONT size=2 face="serif">2.</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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;</FONT></P>
<P align="left">
<FONT size=2 face="serif">3.</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; </FONT></P>
<P align="left">
<FONT size=2 face="serif">4.</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;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: </FONT></P>
<P align="left" style="margin-left:25px">
<FONT size=2 face="serif">a)</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; </FONT></P>
<P align="left" style="margin-left:25px"><FONT size=2 face="serif">b)</FONT> <FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; </FONT></P>
<P align="left" style="margin-left:25px"><FONT size=2 face="serif">c)</FONT> <FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;evaluated
    the effectiveness of the registrant&#146;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 </FONT></P>
<P align="left" style="margin-left:25px"><FONT size=2 face="serif">d)</FONT> <FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;disclosed
      in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s
  most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s
  internal control over financial reporting; and </FONT></P>
<P align="left">
<FONT size=2 face="serif">5.</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and the audit committee of the
registrant&#146;s board of directors (or persons performing the equivalent functions): </FONT></P>
<P align="left" style="margin-left:25px">
<FONT size=2 face="serif">a)</FONT><FONT size=2 face="sans-serif"> </FONT><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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&#146;s ability to record, process, summarize, and report financial information; and </FONT></P>
<P align="left" style="margin-left:25px"><FONT size=2 face="serif">b)</FONT> <FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
  fraud, whether or not material, that involves management or other employees who
  have a significant role in the registrant&#146;s internal control
  over financial reporting. </FONT></P>
<P align="left">&nbsp;</P>
<TABLE width="30%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left nowrap><font size=2 face="serif">Date: September 20, 2007</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">/s/
        Donald C. Burke</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Donald C. Burke,</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><font size=2 face="serif">Treasurer (principal financial
    officer) of</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">BlackRock California Municipal
    Income Trust</FONT> </TD>
  </TR>
</TABLE>
<BR>

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