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<SEC-DOCUMENT>0000930413-05-006881.txt : 20050929
<SEC-HEADER>0000930413-05-006881.hdr.sgml : 20050929
<ACCEPTANCE-DATETIME>20050929105527
ACCESSION NUMBER:		0000930413-05-006881
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050731
FILED AS OF DATE:		20050929
DATE AS OF CHANGE:		20050929
EFFECTIVENESS DATE:		20050929

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK NEW YORK MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0001137390
		IRS NUMBER:				510409117
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-10337
		FILM NUMBER:		051110047

	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>c39095_nq.htm
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>
<center>
  <FONT face="serif">UNITED STATES </FONT><BR>
  <FONT face="serif">SECURITIES AND EXCHANGE COMMISSION </FONT><BR>
  <FONT face="serif">Washington, D.C. 20549 </FONT><BR>
</center>
<P align="center">
<B><FONT size=4 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>
<FONT face="serif">Investment Company Act file number: </FONT><U><FONT face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811-10337&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT face="serif"> </FONT></P>
<P align="center">
<FONT face="serif"></FONT><U><FONT face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock New York Municipal Income Trust&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT face="serif"><BR> (Exact name of registrant as specified in charter) </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
        <TD width=75%>
<FONT face="serif">100 Bellevue Parkway, Wilmington, DE</FONT>&nbsp;
        </TD>
        <TD width=25%>
<FONT face="serif">19809</FONT>&nbsp;
        </TD>
</TR>
<TR align="center">
        <TD colspan=2>
<HR noshade size=1>
        </TD>
</TR>
<TR align="center" valign="bottom">
        <TD>
<FONT face="serif">(Address of principal executive offices)</FONT>&nbsp;
        </TD>
        <TD width=25%>
<FONT face="serif">(Zip code)</FONT>&nbsp;
        </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT face="serif"> Robert S. Kapito, President   </FONT></P>
<P align="center"><FONT face="sans-serif"><b>BlackRock New York Municipal Income Trust </b></FONT>  </P>
<P align="center">
<FONT face="serif"> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 East 52nd Street, New York, NY 10022&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT>
<br>
<FONT face="serif">(Name and address of agent for service) </FONT>
</P>
<P>
<FONT face="serif">Registrant's telephone number, including area code: </FONT><U><FONT face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888-825-2257&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT face="serif"> </FONT></P>
<P>
<FONT face="serif">Date of fiscal year end: </FONT><U><FONT face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;October 31, 2005&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT face="serif"> </FONT></P>
<P>
<FONT face="serif">Date of reporting period: </FONT><U><FONT face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July 31, 2005&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT face="serif"></FONT></P>

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

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


<P>
<B><FONT size="2" face="serif">Item 1. Schedule of Investments.</FONT></B><FONT face="serif"> </FONT></P>
<P>
<FONT size="2" face="serif">The Registrant&#146;s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows: </FONT></P>
<P>&nbsp;</P>
<P>

<p><font size="3"><b>PORTFOLIO OF INVESTMENTS (</b><b>unaudited)</b><b><br>JULY
31, 2005</b></font>
<p><font size="3"><b> BlackRock New York Municipal Income Trust (BNY)</b></font>
<p><p><table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr valign=top><td width="10%" align=center></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=center><font size="2"><b>Principal</b></font></td>
<td width="4%">&nbsp;</td>
<td align=center><font size="2"><b>&nbsp;</b></font></td>
<td width="10%">&nbsp;</td>
<td width="3%" align=center><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=center></td>

</tr>
<tr valign=top>
  <td width="10%" align=center><font size="2"><b>&nbsp;</b></font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=center><font size="2"><b>Amount</b></font></td>
<td width="4%">&nbsp;</td>
<td align=center><font size="2"><b>&nbsp;</b></font></td>
<td width="10%" align=center><font size="2"><b>Option Call</b></font></td>
<td width="3%" align=center>&nbsp;</td>
<td width="10%" align=center></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2"><b>Rating</b><sup><b>1</b></sup></font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=center><font size="2"><b>(000)</b></font></td>
<td width="4%">&nbsp;</td>
<td align=center><font size="2"><b>Description</b></font></td>
<td width="10%" align=center><font size="2"><b>Provisions</b><sup><b>2</b></sup></font></td>
<td width="3%" align=center>&nbsp;</td>
<td width="10%" align=center><font size="2"><b>Value</b></font></td>
</tr>
<tr valign=top><td COLSPAN='8' ><HR noshade size=1></td></tr>
<tr valign=top><td width="10%" align=center></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2"><b>&nbsp;</b></font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2"><b>LONG-TERM INVESTMENTS&#151;153.4%</b></font></td>
<td width="10%" align=right><center>
  <font size="2"><b>&nbsp;</b></font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right></td>

</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2"><b>&nbsp;</b></font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2"><b>&nbsp;</b></font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2"><b>Multi-State&#151;11.1%</b></font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2"><b>&nbsp;</b></font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">Charter Mac Equity Issuer Trust,</font></td>
<td width="10%" align=right><center>
  <font size="2"></font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">A3</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">$6,000</font></td>
<td width="4%" bgcolor="#DDDDDD"><font size="2"><sup>3</sup></font></td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. A-2, 6.30%, 6/30/49</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">06/09 @ 100</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">$&nbsp;&nbsp;&nbsp;&nbsp; 6,365,160</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">Baa1</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">5,500</font></td>
<td width="4%"><font size="2"><sup>3</sup></font></td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. B-1, 6.80%, 11/30/50</font></td>
<td width="10%" align=right><center>
  <font size="2">11/10 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">5,960,020</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">&nbsp;</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">&nbsp;</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">MuniMae TE Bond Subsidiary, LLC,</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2"></font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">A3</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">6,000</font></td>
<td width="4%"><font size="2"><sup>3</sup></font></td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. A-1, 6.30%, 6/30/49</font></td>
<td width="10%" align=right><center>
  <font size="2">06/09 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">6,299,520</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">Baa1</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">3,000</font></td>
<td width="4%" bgcolor="#DDDDDD"><font size="2"><sup>3</sup></font></td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. B-1, 6.80%, 6/30/50</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">11/10 @ 100</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">3,247,560</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td COLSPAN='8' bgcolor="#DDDDDD" ><HR noshade size=1></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;</font></td>
<td width="10%" align=right><center>
  <font size="2"></font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">21,872,260</font></td>
</tr>
<tr valign=top><td COLSPAN='8' ><HR noshade size=1></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2"><b>&nbsp;</b></font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2"><b>New York&#151;124.2%</b></font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2"><b>&nbsp;</b></font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">Albany Indl. Dev. Agcy., New Covenant
Charter Sch. Proj., Ser. A,</font></td>
<td width="10%" align=right><center>
  <font size="2"></font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">NR</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">910</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 5/01/25</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">05/15 @ 102</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">898,480</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">NR</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">590</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 5/01/35</font></td>
<td width="10%" align=right><center>
  <font size="2">05/15 @ 102</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">573,338</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">&nbsp;</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">&nbsp;</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">Dorm. Auth.,</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2"></font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">AA-</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">1,765</font></td>
<td width="4%"><font size="2"><sup>4</sup></font></td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;City Univ. Proj., Ser. A, 5.25%,
7/01/11</font></td>
<td width="10%" align=center><center>
  <font size="2">N/A</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">1,940,459</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">AA</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">2,540</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Insured Rochester Gen. Hosp.
Proj., 5.00%, 12/01/25, RAA</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">12/15 @ 100</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">2,669,565</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">AA</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">2,000</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Insured Rochester Gen. Hosp.
Proj., 5.00%, 12/01/35, RAA</font></td>
<td width="10%" align=right><center>
  <font size="2">12/15 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">2,081,760</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">Baa2</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">10,780</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Lenox Hill Hosp. Oblig. Grp.
Proj., 5.50%, 7/01/30</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">07/11 @ 101</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">11,193,197</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">Ba1</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">6,000</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Mount Sinai NYU Health Proj.,
5.50%, 7/01/26</font></td>
<td width="10%" align=right><center>
  <font size="2">07/08 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">6,085,820</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">AAA</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">9,000</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;New Sch. Univ. Proj., 5.00%,
7/01/41, MBIA</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">07/11 @ 100</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">9,273,330</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">AAA</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">5,000</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;New York Univ. Proj., Ser.
2, 5.00%, 7/01/41, AMBAC</font></td>
<td width="10%" align=right><center>
  <font size="2">07/11 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">5,165,000</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">A3</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">2,000</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;No. Shore Long Island Jewish
Grp. Proj., 5.375%, 5/01/23</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">05/13 @ 100</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">2,125,320</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">A3</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">2,000</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;No. Shore Long Island Jewish
Grp. Proj., 5.50%, 5/01/33</font></td>
<td width="10%" align=right><center>
  <font size="2">05/13 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">2,132,100</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">AA-</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">2,000</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">Madison Cnty. Indl. Dev. Agcy. Civic
Fac. Rev., Colgate Univ. Proj.,</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2"></font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. B, 5.00%, 7/01/33</font></td>
<td width="10%" align=right><center>
  <font size="2">07/13 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">2,091,600</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">&nbsp;</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">&nbsp;</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">Met. Transp. Auth., Ded. Tax Fund,
Ser. A,</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2"></font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">AA-</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">12,000</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/15/30</font></td>
<td width="10%" align=right><center>
  <font size="2">11/12 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">12,489,240</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">A</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">12,000</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 11/15/31</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">11/12 @ 100</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">12,643,320</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">Mtg. Agcy.,</font></td>
<td width="10%" align=right><center>
  <font size="2"></font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">Aa1</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">5,950</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. 101, 5.40%, 4/01/32</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">10/11 @ 100</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">6,058,647</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">Aaa</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">15,500</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. A, 5.30%, 10/01/31</font></td>
<td width="10%" align=right><center>
  <font size="2">04/11 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">15,741,025</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">A+</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">5,000</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">New York, Ser. O, 5.00%, 6/01/30</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">06/15 @ 100</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">5,220,750</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">New York City, GO,</font></td>
<td width="10%" align=right><center>
  <font size="2"></font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">AAA</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">3,290</font></td>
<td width="4%" bgcolor="#DDDDDD"><font size="2"><sup>4</sup></font></td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. C, 5.375%, 3/15/12</font></td>
<td width="10%" align=center bgcolor="#DDDDDD"><center>
  <font size="2">N/A</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">3,676,114</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">A+</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">2,710</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. C, 5.375%, 3/15/28</font></td>
<td width="10%" align=right><center>
  <font size="2">03/12 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">2,911,597</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">A+</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">7,000</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. D, 5.375%, 6/01/32</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">06/12 @ 100</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">7,513,520</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">New York City Ind. Dev. Agcy.,</font></td>
<td width="10%" align=right><center>
  <font size="2"></font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">A</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">750</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Marymount Sch. Proj., 5.125%,
9/01/21, ACA</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">09/11 @ 102</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">774,248</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">A</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">2,000</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Marymount Sch. Proj., 5.25%,
9/01/31, ACA</font></td>
<td width="10%" align=right><center>
  <font size="2">09/11 @ 102</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">2,071,780</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">AAA</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">1,550</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Royal Charter Presbyterian
Proj., 5.25%, 12/15/32, FSA</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">12/11 @ 102</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">1,656,966</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">BBB-</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">14,850</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Spec. Arpt. Airis JFK I LLC
Proj., Ser. A, 5.50%, 7/01/28</font></td>
<td width="10%" align=right><center>
  <font size="2">07/11 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">14,871,532</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">A3</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">6,000</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Term. One Grp. Assoc. Proj.,
6.00%, 1/01/19</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">05/05 @ 101</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">6,078,660</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">New York City Mun. Wtr. Fin. Auth.,</font></td>
<td width="10%" align=right><center>
  <font size="2"></font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">AAA</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">4,000</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. A, 5.00%, 6/15/32, FGIC</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">06/11 @ 100</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">4,156,240</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">AAA</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">10,675</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. A, 5.00%, 6/15/35, AMBAC</font></td>
<td width="10%" align=right><center>
  <font size="2">06/13 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">11,168,719</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">AA+</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">6,500</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. C, 5.00%, 6/15/32</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">06/11 @ 100</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">6,733,415</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">AA+</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">5,000</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. D, 5.00%, 6/15/39</font></td>
<td width="10%" align=right><center>
  <font size="2">06/15 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">5,270,550</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">AAA</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">3,660</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;New York City Transl. Fin.
Auth., Ser. C, 5.00%, 5/01/29</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">05/09 @ 101</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">3,792,858</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">BBB</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">6,700</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">New York Cntys. Tobacco Trust III,
6.00%, 6/01/43</font></td>
<td width="10%" align=right><center>
  <font size="2">06/13 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">7,197,006</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">&nbsp;</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">&nbsp;</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">Port Auth. of NY &amp; NJ,</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2"></font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">AA-</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">5,000</font></td>
<td width="4%"><font size="2"><sup>5</sup></font></td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Consolidated 132nd Ser., 5.00%,
9/01/38</font></td>
<td width="10%" align=right><center>
  <font size="2">09/13 @101</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">5,265,000</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">Caa2</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">9,250</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Contl./Eastn. LaGuardia Proj.,
9.125%, 12/01/15</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2">07/05 @ 100</font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right><font size="2">9,274,698</font></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">AAA</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">13,000</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Spec. Oblig., JFK Intl. Air
Term. 6 Proj., 5.75%, 12/01/22, MBIA</font></td>
<td width="10%" align=right><center>
  <font size="2">12/07 @ 102</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">13,908,700</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td width="10%" align=center bgcolor="#DDDDDD"><font size="2">BBB</font></td>
<td width="1%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right bgcolor="#DDDDDD"><font size="2">2,500</font></td>
<td width="4%" bgcolor="#DDDDDD">&nbsp;</td>
<td align=left bgcolor="#DDDDDD"><font size="2">Rensselaer Tobacco Asset Sec. Corp.,
Tobacco Settlement Rev.,</font></td>
<td width="10%" align=right bgcolor="#DDDDDD"><center>
  <font size="2"></font>
</center></td>
<td width="3%" bgcolor="#DDDDDD">&nbsp;</td>
<td width="10%" align=right></td>
</tr>
<tr valign=top><td width="10%" align=center><font size="2">&nbsp;</font></td>
<td width="1%">&nbsp;</td>
<td width="10%" align=right><font size="2">&nbsp;</font></td>
<td width="4%">&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;Ser. A, 5.75%, 6/01/43</font></td>
<td width="10%" align=right><center>
  <font size="2">06/12 @ 100</font>
</center></td>
<td width="3%">&nbsp;</td>
<td width="10%" align=right><font size="2">2,644,000</font></td>
</tr>
</table>
<p><p>
<font size="2"></font><p><p align='center'>1<HR noshade size=4><PAGE><p>
<p><font size="3"><b> BlackRock New York Municipal Income Trust (BNY) (continued)</b></font>
<p><p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign=top>
    <td width="10%" align=center></td>
    <td width="1%">&nbsp;</td>
    <td width="10%" align=center><font size="2"><b>Principal</b></font></td>
    <td width="4%">&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td width="10%" nowrap>&nbsp;</td>
    <td width="3%" align=center><font size="2"><b>&nbsp;</b></font></td>
    <td width="10%" align=center></td>
  </tr>
  <tr valign=top>
    <td width="10%" align=center><font size="2"><b>&nbsp;</b></font></td>
    <td width="1%">&nbsp;</td>
    <td width="10%" align=center><font size="2"><b>Amount</b></font></td>
    <td width="4%">&nbsp;</td>
    <td align=center><font size="2"><b>&nbsp;</b></font></td>
    <td width="10%" align=center nowrap><font size="2"><b>Option Call</b></font></td>
    <td width="3%" align=center>&nbsp;</td>
    <td width="10%" align=center></td>
  </tr>
  <tr valign=top>
    <td width="10%" align=center><font size="2"><b>Rating</b><sup><b>1</b></sup></font></td>
    <td width="1%">&nbsp;</td>
    <td width="10%" align=center><font size="2"><b>(000)</b></font></td>
    <td width="4%">&nbsp;</td>
    <td align=center><font size="2"><b>Description</b></font></td>
    <td width="10%" align=center nowrap><font size="2"><b>Provisions</b><sup><b>2</b></sup></font></td>
    <td width="3%" align=center>&nbsp;</td>
    <td width="10%" align=center><font size="2"><b>Value</b></font></td>
  </tr>
  <tr valign=top>
    <td COLSPAN='8' ><HR noshade size=1></td>
  </tr>
<tr valign=top><td align=center><font size="2"><font size="2"></font></font></td>
<td>&nbsp;</td>
<td align=right><font size="2"><b>&nbsp;</b></font></td>
<td>&nbsp;</td>
<td align=left><font size="2"><b>New York&#151;(continued)</b></font></td>
<td align=right nowrap><center>
  <font size="2"><b>&nbsp;</b></font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2"><b>&nbsp;</b></font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2"><font size="2">BBB</font></font></td>
<td>&nbsp;</td>
<td align=right><font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;5,000</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Rockland Tobacco Asset Sec. Corp.,
Tobacco Settlement Rev., 5.75%, 8/15/43</font></td>
<td align=right nowrap><center>
  <font size="2">08/12 @ 100</font>
</center></td>
<td>&nbsp;</td>
<td align=right nowrap><font size="2">$&nbsp;&nbsp;&nbsp;&nbsp; 5,265,200</font></td>
</tr>
<tr valign=top><td align=center><font size="2">A</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">7,000</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Suffolk Cnty. Indl. Dev. Agcy., Keyspan
Port Jefferson Proj., 5.25%, 6/01/27</font></td>
<td align=right nowrap><center>
  <font size="2">06/13 @ 100</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">7,300,440</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2">BBB</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">8,000</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">TSASC, Inc. Tobacco Settlement Rev.,
Ser. 1, 6.375%, 7/15/39</font></td>
<td align=right nowrap><center>
  <font size="2">07/09 @ 101</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">8,499,760</font></td>
</tr>
<tr valign=top><td align=center><font size="2">BBB</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">5,000</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">TSASC, Inc. Tobacco Settlement Rev.,
Ser. 1, 5.75%, 7/15/32</font></td>
<td align=right nowrap><center>
  <font size="2">07/12 @ 100</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">5,283,600</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2">AA-</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">5,290</font></td>
<td><font size="2"><sup>4</sup></font></td>
<td align=left><font size="2">Urban Dev. Corp., Correctional Facs.,
Ser. 6, 5.375%, 1/01/06</font></td>
<td align=center nowrap><center>
  <font size="2">N/A</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">5,453,884</font></td>
</tr>
<tr valign=top><td align=center><font size="2">AA</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">2,500</font></td>
<td>&nbsp;</td>
<td align=left nowrap><font size="2">Westchester Cnty. Ind. Dev. Agcy.,
Winward Sch. Civic Fac., 5.25%, 10/01/31, RAA&nbsp;&nbsp;</font></td>
<td align=right nowrap><center>
  <font size="2">10/11 @ 100</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">2,606,575</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2">BBB</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">2,000</font></td>
<td><font size="2"><sup>4</sup></font></td>
<td align=left><font size="2">Westchester Tobacco Asset Sec. Corp.,
Tobacco Settlement Rev., 6.75%, 7/15/10</font></td>
<td align=center nowrap><center>
  <font size="2">N/A</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">2,317,780</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td COLSPAN='8' ><HR noshade size=1></td>
</tr>
<tr valign=top><td align=center><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">&nbsp;</font></td>
<td align=right nowrap><center>
  <font size="2"></font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">244,075,793</font></td>
</tr>
<tr valign=top><td COLSPAN='8' ><HR noshade size=1></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td>&nbsp;</td>
<td align=right><font size="2"><b>&nbsp;</b></font></td>
<td>&nbsp;</td>
<td align=left><font size="2"><b>Puerto Rico&#151;18.1%</b></font></td>
<td align=right nowrap><center>
  <font size="2"><b>&nbsp;</b></font>
</center></td>
<td>&nbsp;</td>
<td align=right></td>
</tr>
<tr valign=top><td align=center><font size="2"><font size="2">BBB</font></font></td>
<td>&nbsp;</td>
<td align=right><font size="2">4,060</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Children&#146;s Trust Fund Tobacco
Settlement Rev., 5.625%, 5/15/43</font></td>
<td align=right nowrap><center>
  <font size="2">05/12 @ 100</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">4,234,620</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Pub. Bldgs. Auth., Gov&#146;t Facs.,
Ser. D,</font></td>
<td align=right nowrap><center>
  <font size="2"></font>
</center></td>
<td>&nbsp;</td>
<td align=right></td>
</tr>
<tr valign=top><td align=center><font size="2">BBB</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">4,400</font></td>
<td><font size="2"> <sup>4</sup></font></td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 7/01/12</font></td>
<td align=center nowrap><center>
  <font size="2">N/A</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">4,846,204</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2">BBB</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">1,600</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 7/01/36</font></td>
<td align=right nowrap><center>
  <font size="2">07/12 @ 100</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">1,681,200</font></td>
</tr>
<tr valign=top><td align=center><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Pub. Fin. Corp., Ser. E,</font></td>
<td align=right nowrap><center>
  <font size="2"></font>
</center></td>
<td>&nbsp;</td>
<td align=right></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2">Aaa</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">7,475</font></td>
<td><font size="2"> <sup>4</sup></font></td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 2/01/12</font></td>
<td align=center nowrap><center>
  <font size="2">N/A</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">8,322,964</font></td>
</tr>
<tr valign=top><td align=center><font size="2">BBB-</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">2,525</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 8/01/29</font></td>
<td align=right nowrap><center>
  <font size="2">02/12 @ 100</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">2,739,751</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2">Aaa</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">7,000</font></td>
<td><font size="2"> <sup>4</sup></font></td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 2/01/10</font></td>
<td align=center nowrap><center>
  <font size="2">N/A</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">7,702,520</font></td>
</tr>
<tr valign=top><td align=center><font size="2">Aaa</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">5,750</font></td>
<td><font size="2"> <sup>4</sup></font></td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 2/01/07</font></td>
<td align=center nowrap><center>
  <font size="2">N/A</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">5,987,993</font></td>
</tr>
<tr valign=top><td COLSPAN='8' ><HR noshade size=1></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">&nbsp;</font></td>
<td align=right nowrap><center>
  <font size="2"></font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">35,515,252</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td COLSPAN='8' ><HR noshade size=1></td>
</tr>
<tr valign=top><td align=center><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2"><b>Total Long-Term Investments</b>
(cost $286,931,245)</font></td>
<td align=right nowrap><center>
  <font size="2"></font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">301,463,305</font></td>
</tr>
<tr valign=top><td COLSPAN='8' ><HR noshade size=1></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2"><b><font size="2">&nbsp;</font></b></font></td>
<td>&nbsp;</td>
<td align=right><font size="2"><b>&nbsp;</b></font></td>
<td>&nbsp;</td>
<td align=left><font size="2"><b>SHORT-TERM INVESTMENTS&#151;1.4%</b></font></td>
<td align=right nowrap><center>
  <font size="2"><b>&nbsp;</b></font>
</center></td>
<td>&nbsp;</td>
<td align=right></td>
</tr>
<tr valign=top><td align=center><font size="2"><b>&nbsp;</b></font></td>
<td>&nbsp;</td>
<td align=right><font size="2"><b>&nbsp;</b></font></td>
<td>&nbsp;</td>
<td align=left><font size="2"><b>New York&#151;0.3%</b></font></td>
<td align=right nowrap><center>
  <font size="2"><b>&nbsp;</b></font>
</center></td>
<td>&nbsp;</td>
<td align=right></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2"><font size="2">A1+</font></font></td>
<td>&nbsp;</td>
<td align=right><font size="2">600</font></td>
<td><font size="2"> <sup>6</sup></font></td>
<td align=left nowrap><font size="2">New York City Mun. Wtr. Fin. Auth.,
Wtr. &amp; Swr. Sys. Rev., Ser. G, 2.16%, 8/01/05,</font></td>
<td align=center nowrap><center>
  <font size="2"></font>
</center></td>
<td>&nbsp;</td>
<td align=right></td>
</tr>
<tr valign=top><td align=center><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;FGIC, FRDD</font></td>
<td align=center nowrap><center>
  <font size="2">N/A</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">600,000</font></td>
</tr>
<tr valign=top><td COLSPAN='8' ><HR noshade size=1></td>
</tr>
<tr valign=top>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td nowrap >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
</tr>
<tr valign=top><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><hr noshade size=1></td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td nowrap >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
</tr>
<tr valign=top><td align=center><font size="2"><font size="2"><b>&nbsp;</b></font></font></td>
<td>&nbsp;</td>
<td align=center><font size="2"><b>Shares</b></font></td>
<td>&nbsp;</td>
<td align=center><font size="2"><b>&nbsp;</b></font></td>
<td align=center nowrap><center>
</center></td>

<td>&nbsp;</td><td>&nbsp;</td></tr>
<tr valign=top><td align=center><font size="2"><b>&nbsp;</b></font></td>
<td>&nbsp;</td>
<td align=center><font size="2"><b>(000)</b></font></td>
<td>&nbsp;</td>
<td align=center><font size="2"><b>&nbsp;</b></font></td>
<td align=center nowrap><center>
</center></td>

<td>&nbsp;</td><td>&nbsp;</td></tr>
<tr valign=top><td >&nbsp;</td>
  <td >&nbsp;</td>
  <td ><hr noshade size=1></td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
  <td nowrap >&nbsp;</td>
  <td >&nbsp;</td>
  <td >&nbsp;</td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2"><font size="2"><b>&nbsp;</b></font></font></td>
<td>&nbsp;</td>
<td align=right><font size="2"><b>&nbsp;</b></font></td>
<td>&nbsp;</td>
<td align=left><font size="2"><b>Money Market Funds&#151;1.1%</b></font></td>
<td align=right nowrap><center>
  <font size="2"><b>&nbsp;</b></font>
</center></td>
<td>&nbsp;</td>
<td align=right></td>
</tr>
<tr valign=top><td align=center><font size="2"><font size="2">&nbsp;</font></font></td>
<td>&nbsp;</td>
<td align=right><font size="2">2,150</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">AIM Tax Free Investment Co. Cash
Reserve Portfolio</font></td>
<td align=center nowrap><center>
  <font size="2">N/A</font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">2,150,000</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2"><b>Total Short-Term Investments</b>
(cost $2,750,000)</font></td>
<td align=right nowrap><center>
  <font size="2"></font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">2,750,000</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td COLSPAN='8' ><HR noshade size=1></td>
</tr>
<tr valign=top><td align=center><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2"><b>Total Investments&#151;154.8%</b>
(cost $289,681,245<sup>7</sup>)</font></td>
<td align=right nowrap><center>
  <font size="2"></font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">304,213,305</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Other assets in excess of liabilities&#151;1.1%</font></td>
<td align=right nowrap><center>
  <font size="2"></font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">2,155,950</font></td>
</tr>
<tr valign=top><td align=center><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Preferred stock at redemption value,
including dividends payable&#151;55.8%</font></td>
<td align=right nowrap><center>
  <font size="2"></font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">(109,786,163)</font></td>
</tr>
<tr valign=top><td COLSPAN='8' ><HR noshade size=1></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td align=center><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=right><font size="2">&nbsp;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2"><b>Net Assets Applicable to Common
Shareholders&#151;100%</b></font></td>
<td align=right nowrap><center>
  <font size="2"></font>
</center></td>
<td>&nbsp;</td>
<td align=right><font size="2">$ 196,583,092</font></td>
</tr>
<tr valign=top bgcolor='#DDDDDD'><td COLSPAN='8' ><HR noshade size=3></td>
</tr>
</table>

<p>
<p><p>
<hr align="left" noshade width="140" size="1">

<table border="0" cellspacing="0" cellpadding="0"><tr valign=top>
  <td align=left><font size="2"><font size="2"><sup>1</sup></font></font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Using the higher of Standard &amp;
Poor&#146;s, Moody&#146;s Investor Service or Fitch Ratings.</font></td>

<td>&nbsp;</td></tr>
<tr valign=top><td align=left><font size="2"><sup>2</sup></font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Date (month/year) and price of the
earliest optional call or redemption. There may be other call provisions at varying
prices at later dates.</font></td>

<td>&nbsp;</td></tr>
<tr valign=top><td align=left><font size="2"><sup>3</sup></font></td>
<td>&nbsp;</td>
<td align=left><font size="2">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,
2005, the Trust held 11.1% of it nets assets, with a current market value of $21,872,260,
in securities restricted as to resale.</font></td>

<td>&nbsp;</td></tr>
<tr valign=top><td align=left><font size="2"><sup>4</sup></font></td>
<td>&nbsp;</td>
<td align=left><font size="2">This bond is prefunded. 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></td>

<td>&nbsp;</td></tr>
<tr valign=top><td align=left><font size="2"><sup>5</sup></font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Security, or a portion thereof, pledged
as collateral with a value of $1,187,080 on 600 short U.S. Treasury Note futures
contracts expiring September 2005. The value of such contracts on July 31, 2005
was $66,590,625, with an unrealized gain of $790,444.</font></td>

<td>&nbsp;</td></tr>
<tr valign=top><td align=left><font size="2"><sup>6</sup></font></td>
<td>&nbsp;</td>
<td align=left><font size="2">For purposes of amortized cost valuation,
the maturity date of this instrument is considered to be the earlier of the next
date on which the security can be redeemed at par, or the next date on which the
rate of interest is adjusted.</font></td>

<td>&nbsp;</td></tr>
<tr valign=top><td align=left><font size="2"><sup>7</sup></font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Cost for Federal income tax purposes
is $289,678,731. The net unrealized appreciation on a tax basis is $14,534,574,
consisting of $14,569,659 gross unrealized appreciation and $35,085 gross unrealized
depreciation.</font></td><td>&nbsp;</td></tr></table>
<p><p><p><p align="center">
<hr size="1" noshade>

<p align="center"><font size="2"><b>KEY TO ABBREVIATIONS</b></font>
<p><table width="100%" border="0" cellspacing="0" cellpadding="0"><tr valign=top><td align=left><font size="2"><font size="2">ACA</font></font></td>
<td align=left><font size="2">&#151;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">American Capital Access</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">FSA</font></td>
<td align=left><font size="2">&#151;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Financial Security Assurance</font></td>

<td>&nbsp;</td></tr>
<tr valign=top><td align=left><font size="2">AMBAC</font></td>
<td align=left><font size="2">&#151;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">American Municipal Bond Assurance
Corp.</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">GO</font></td>
<td align=left><font size="2">&#151;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">General Obligation</font></td>

<td>&nbsp;</td></tr>
<tr valign=top><td align=left><font size="2">FGIC</font></td>
<td align=left><font size="2">&#151;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Financial Guaranty Insurance Co.</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">MBIA</font></td>
<td align=left><font size="2">&#151;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Municipal Bond Insurance Assoc.</font></td>

<td>&nbsp;</td></tr>
<tr valign=top><td align=left><font size="2">FRDD</font></td>
<td align=left><font size="2">&#151;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Floating Rate Daily Demand</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">RAA</font></td>
<td align=left><font size="2">&#151;</font></td>
<td>&nbsp;</td>
<td align=left><font size="2">Radian Asset Assurance</font></td>

<td>&nbsp;</td></tr>
</table>
<br>
<br>
<hr size="1" noshade>
<p><p align='center'>2
<HR noshade size=4>
<P align="left" style="page-break-before:always"></P><PAGE>


<B><FONT size="2" face="serif">Item 2. Controls and Procedures.</FONT></B><FONT face="serif"> </FONT>
<P>
<FONT size="2" face="serif">(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the
Registrant&#146;s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods
and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant&#146;s management , including it principle executive and principle financial officers, as appropriate to allow timely
decisions regarding required disclosure. </FONT></P>
<P>
  <FONT size="2" face="serif">(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a -3(d)) that occurred during the registrant's last fiscal quarter that have
materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting. </FONT></P>
<P>
  <font size="2"><B><FONT face="serif">Item 3. Exhibits.</FONT></B> </font></P>
<P>
  <FONT size="2" face="serif">Separate certifications of the registrant&#146;s principal executive and financial officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT. </FONT></P>

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

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<P align="center">
<font size="2"><B><FONT face="serif">SIGNATURES</FONT></B> </font></P>
<P>
  <FONT size="2" face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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></P>
<P>
  <FONT size="2" face="serif">(Registrant)</FONT><font size="2"><U><FONT face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock New York Municipal Income Trust&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U> </font></P>
<P>
  <FONT size="2" face="serif">By: <u>/s/ Henry Gabbay&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><BR>
  Name: Henry Gabbay <br>
  Title: Treasurer <br>
Date: September 28, 2005 </FONT></P>
<P>
  <FONT size="2" face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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></P>
<P>
  <FONT size="2" face="serif">By: <u>/s/ Robert S. Kapito&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><BR>
  Name: Robert S. Kapito <br>
  Title: Principal Executive Officer <br>
  Date: September 28, 2005 <BR>
  </FONT></P>
<P><FONT size="2" face="serif">By: <u>/s/ Henry Gabbay&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><BR>
  Name: Henry Gabbay <br>
  Title: Principal Financial Officer <br>
  Date: September 28, 2005<BR>
  </FONT><FONT size="2" face="serif"><BR>
  <BR>
  </FONT></P>
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<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>c39095_ex99-cert.htm
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<P align="right">
<B><FONT face="serif">EX-99.CERT </FONT></B></P>

<center>
  <B><FONT face="serif">CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER </FONT></B>
  <p></P>
</center>
<P align="center">
<B><U><FONT face="serif">CERTIFICATIONS</FONT></U></B><B><FONT face="serif"> </FONT></B></P>
<P align="right">
<P>
<FONT face="serif">I, Robert S. Kapito, certify that: </FONT></P>
<P>
<FONT face="serif">1. I have reviewed this report on Form N-Q of BlackRock New York Municipal Income Trust; </FONT></P>
<P>
<FONT face="serif">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; </FONT></P>
<P>
<FONT face="serif">3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; </FONT></P>
<P>
<FONT face="serif">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: </FONT></P>
<P>
<FONT face="serif">(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; </FONT></P>
<P>
<FONT face="serif">(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; </FONT></P>
<P>
<FONT face="serif">(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</FONT><FONT size=2 face="sans-serif"> </FONT></P>
<P>
<FONT face="serif">(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the Registrant's internal control over financial reporting; and </FONT></P>

<FONT face="serif">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): </FONT><p></P>
<P>
<FONT face="serif">(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 </FONT></P>
<P>
<FONT face="serif">(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. </FONT></P>
<P>&nbsp;</P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td colspan="2"><FONT face="serif">Date: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;September 28, 2005&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="4%"><FONT face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <BR>
    </FONT></td>
    <td width="46%"><hr align="left" width="200" size="1" noshade></td>
    <td width="50%" align="center"><font face="serif">/s/ Robert S. Kapito &nbsp;&nbsp;&nbsp;</font></td>
  </tr>
  <tr>
    <td colspan="2">&nbsp;</td>
    <td align="center"><hr width="200" size="1" noshade>    </td>
  </tr>
  <tr>
    <td colspan="2">&nbsp;</td>
    <td align="center"><font face="serif">Robert S. Kapito </font></td>
  </tr>
  <tr>
    <td colspan="2">&nbsp;</td>
    <td align="center"><center><FONT face="serif">  Principal Executive Officer </FONT>
    </center></td>
  </tr>
</table>
<P><FONT face="serif"><BR>
</FONT></P>
<P align="center">
<FONT face="serif"> <BR>
</FONT></P>

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


<P align="right">
<B><FONT face="serif">EX-99.CERT </FONT></B></P>

<center>
  <B><FONT face="serif">CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER </FONT></B>
  <p></P>
</center>
<P align="center">
<B><U><FONT face="serif">CERTIFICATIONS</FONT></U></B><B><FONT face="serif"> </FONT></B></P>
<P align="right">
<P>
<FONT face="serif">I, Henry Gabbay, certify that: </FONT></P>
<P>
<FONT face="serif">1. I have reviewed this report on Form N-Q of BlackRock New York Municipal Income Trust; </FONT></P>
<P>
<FONT face="serif">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; </FONT></P>
<P>
<FONT face="serif">3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; </FONT></P>
<P>
<FONT face="serif">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: </FONT></P>
<P>
<FONT face="serif">(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; </FONT></P>
<P>
<FONT face="serif">(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; </FONT></P>
<P>
<FONT face="serif">(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</FONT><FONT size=2 face="sans-serif"> </FONT></P>
<P>
<FONT face="serif">(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the Registrant's internal control over financial reporting; and </FONT></P>

<FONT face="serif">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): </FONT><p></P>
<P>
<FONT face="serif">(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 </FONT></P>
<P>
<FONT face="serif">(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. </FONT></P>
<P>&nbsp;</P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td colspan="2"><FONT face="serif">Date: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;September 28, 2005&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="4%"><FONT face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <BR>
    </FONT></td>
    <td width="46%"><hr align="left" width="200" size="1" noshade></td>
    <td width="50%" align="center"><font face="serif">/s/ Henry Gabbay &nbsp;&nbsp;&nbsp;</font></td>
  </tr>
  <tr>
    <td colspan="2">&nbsp;</td>
    <td align="center"><hr width="200" size="1" noshade>
    </td>
  </tr>
  <tr>
    <td colspan="2">&nbsp;</td>
    <td align="center"><FONT face="serif">Henry Gabbay </FONT></td>
  </tr>
  <tr>
    <td colspan="2">&nbsp;</td>
    <td align="center"><center>
        <FONT face="serif"> Principal Financial Officer </FONT>
    </center></td>
  </tr>
</table>
<P>&nbsp;</P>
<P><FONT face="serif"><BR><BR>
</FONT></P>
<P align="center">
<FONT face="serif"> <BR><BR>
</FONT></P>

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