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<SEC-DOCUMENT>0000930413-07-002997.txt : 20070329
<SEC-HEADER>0000930413-07-002997.hdr.sgml : 20070329
<ACCEPTANCE-DATETIME>20070329150820
ACCESSION NUMBER:		0000930413-07-002997
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070131
FILED AS OF DATE:		20070329
DATE AS OF CHANGE:		20070329
EFFECTIVENESS DATE:		20070329

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:		07727387

	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>c47547_nq.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>a47535.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 </FONT><BR>
<FONT face="serif">SECURITIES AND EXCHANGE COMMISSION </FONT><BR>
<FONT face="serif">Washington, D.C. 20549 </FONT><BR>
<BR>
<B><FONT size=4 face="serif">FORM N-Q </FONT></B><BR>
<BR>
<B><FONT face="serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED </FONT></B><BR>
<B><FONT face="serif">MANAGEMENT INVESTMENT COMPANY </FONT></B></P>
<p><FONT face="serif">Investment Company Act file number: </FONT><U><FONT face="serif">&nbsp;&nbsp;811-10337&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT face="serif"> </FONT><BR>
</P>
<table width="100%"  border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td align="center" style="border-bottom:1px solid #000000;">
<font face="serif">BlackRock New York Municipal Income Trust</font></td>
  </tr>
  <tr>
    <td><center>
      <font face="serif">(Exact name of registrant as specified in charter) </font>
    </center></td>
  </tr>
</table>
<br>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=left width=54% style="border-bottom:1px solid #000000;"><center>
   <FONT face="serif">100 Bellevue Parkway, Wilmington, DE</FONT>&nbsp;
  </center></TD>
  <TD width=32%><div style="border-bottom:1px solid #000000">&nbsp;</div>
  </TD>
  <TD align=left width=13% style="border-bottom:1px solid #000000;"><center>
   <FONT face="serif">19809</FONT>&nbsp;
  </center></TD>
</TR>
<TR valign="bottom">
  <TD align=left width=54%>
    <center>
      <FONT face="serif">(Address of principal executive offices)</FONT>&nbsp;
    </center></TD>
  <TD width=32%>&nbsp;
  </TD>
  <TD align=left width=13%>
    <center>
      <FONT face="serif">(Zip code)</FONT>&nbsp;
    </center></TD>
</TR>
</TABLE>
<BR>
<div style="border-bottom:1px solid #000000">
  <center>
      <font face="serif"> Robert S. Kapito,
      President </font><br>
    <font face="sans-serif"><b>BlackRock New York Municipal Income Trust</b></font><br>
    <font face="serif"> 40 East 52nd Street, New York, NY 10022 </font>
  </center>
</div>
<div align="center"><FONT face="serif">(Name
    and address of agent for service) </FONT></div>
<P>
  <FONT face="serif">Registrant's telephone number, including area code: </FONT><U><FONT face="serif">&nbsp;&nbsp;888-825-2257&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT face="serif"> </FONT><BR>
  <BR>
  <FONT face="serif">Date of fiscal year end: </FONT><U><FONT face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;October 31, 2007</FONT></U><FONT face="serif"> </FONT><BR>
  <FONT face="serif">Date of reporting period: </FONT><U><FONT face="serif">&nbsp;&nbsp;&nbsp;January 31, 2007</FONT></U></P>
<HR noshade width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<P align="left">
<B><FONT face="serif">Item 1. Schedule of Investments.</FONT></B><FONT face="serif"> </FONT></P>

<P align="left">
<FONT 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>
<BR><BR><BR>


<P align="left">
<B><FONT face="serif">PORTFOLIO OF INVESTMENTS (unaudited) </FONT></B><BR>
<B><FONT face="serif">JANUARY 31, 2007</FONT></B><BR>
<B><FONT face="serif">BlackRock New York Municipal Income Trust (BNY)</FONT></B><B><FONT face="serif"> </FONT></B><BR>
<B><FONT face="serif">(Percentage of Net Assets) </FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp; </TD>
    <TD width="2%">&nbsp;&nbsp;&nbsp; </TD>
    <TD align=center nowrap> <B><FONT size=2 face="serif">Principal</FONT></B> </TD>
    <TD>&nbsp;&nbsp;&nbsp; </TD>
    <TD align=left nowrap>&nbsp; </TD>
    <TD>&nbsp;&nbsp;&nbsp; </TD>
    <TD align=left nowrap>&nbsp; </TD>
    <TD width="2%">&nbsp;&nbsp;&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left nowrap>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width="2%">&nbsp; </TD>
    <TD align=center nowrap> <B><FONT size=2 face="serif">Amount</FONT></B> </TD>
    <TD>&nbsp; </TD>
    <TD align=left nowrap>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=center nowrap> <B><FONT size=2 face="serif">Option Call</FONT></B> </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=center style="border-bottom:1px solid #000000;"> <B><FONT size=2 face="serif">Rating</FONT></B><B><SUP><FONT size=2 face="serif">1</FONT></SUP></B> </TD>
    <TD width="2%" style="border-bottom:1px solid #000000;">&nbsp; </TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"> <B><FONT size=2 face="serif">(000)</FONT></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp; </TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"> <B><FONT size=2 face="serif">Description</FONT></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp; </TD>
    <TD align=center nowrap style="border-bottom:1px solid #000000;"> <B><FONT size=2 face="serif">Provisions</FONT></B><B><SUP><FONT size=2 face="serif">2</FONT></SUP></B> </TD>
    <TD style="border-bottom:1px solid #000000;">&nbsp; </TD>
    <TD align=center style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=center style="border-bottom:1px solid #000000;"> <B><FONT size=2 face="serif">Value</FONT></B> </TD>
  </TR>
<TR valign="bottom">
  <TD width="6%" align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<B><FONT size=2 face="serif">LONG-TERM INVESTMENTS&#151;153.6%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=left>&nbsp;</TD>
  <TD width="6%" align=left nowrap>&nbsp;

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<B><FONT size=2 face="serif">Multi-State&#151;10.9%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

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

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Charter Mac Equity Issuer Trust,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">A3</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">&#36; 6,000</FONT>
  </TD>
  <TD width="4%" nowrap><SUP><FONT size=2 face="serif">3</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. A-2, 6.30%, 6/30/49</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">06/09 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right><div align="left"><FONT size=2 face="serif">&#36;</FONT></div></TD>
  <TD align=right nowrap>
<FONT size=2 face="serif"> 6,227,700</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">Baa1</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">5,500</FONT>
  </TD>
  <TD width="4%" nowrap><SUP><FONT size=2 face="serif">3</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. B-1, 6.80%, 11/30/50</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">11/10 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,900,455</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">MuniMae TE Bond Subsidiary LLC,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">A3</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">6,000</FONT>
  </TD>
  <TD width="4%" nowrap><SUP><FONT size=2 face="serif">3</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. A-1, 6.30%, 6/30/49</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">06/09 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,234,180</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">Baa1</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">3,000</FONT>
  </TD>
  <TD width="4%" nowrap><SUP><FONT size=2 face="serif">3</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. B-1, 6.80%, 6/30/50</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">11/10 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">3,225,600</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">21,587,935</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<B><FONT size=2 face="serif">New York&#151;126.8%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

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

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Albany Indl. Dev. Agcy., Sch. Impvts. Lease Approp. RB, New Covenant Charter Sch. Proj.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">NR</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">910</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. A, 7.00%, 5/01/25</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">05/15 @ 102</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">906,151</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">NR</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">590</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. A, 7.00%, 5/01/35</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">05/15 @ 102</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">579,935</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">City of New York, Pub. Impvts. Ad Valorem Ppty. Tax GO,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">6,000</FONT>
  </TD>
  <TD width="4%" nowrap><SUP><FONT size=2 face="serif">4</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. C, 5.375%, 3/15/12</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,459,000</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">AA-</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">2,240</FONT>
  </TD>
  <TD width="4%" nowrap><SUP><FONT size=2 face="serif">4</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. D, 5.375%, 6/01/12</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,417,722</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">AA-</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">4,760</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. D, 5.375%, 6/01/32</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">06/12 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,031,463</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">BBB</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">6,700</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Cntys. Tobacco Trust III, Misc. Tobacco Settlement Funded RB, 6.00%, 6/01/43</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">06/13 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">7,225,481</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">8,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Convention Ctr. Operating Corp., Recreational Fac. Impvts. Hotel Occupancy Tax RB,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Hotel Unit Fee Secured Proj., 5.00%, 11/15/44, AMBAC</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">11/15 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">8,362,240</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Dorm. Auth.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">4,855</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Hlth., Hosp. &amp; Nursing Home Impvts. RB, Mental Hlth. Svcs. Facs. Proj., 5.00%,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

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

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">2/15/35, AMBAC</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">02/15 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,093,915</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">AA</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">2,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Hlth., Hosp. &amp; Nursing Home Impvts. RB, New York Hosp. Med. Ctr. Queens Proj.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

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

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">4.75%, 2/15/37</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">02/17 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,003,120</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">A-</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">2,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Hlth., Hosp. &amp; Nursing Home Impvts. RB, North Shore Long Island Jewish Grp. Proj.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

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

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">5.375%, 5/01/23</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">05/13 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,117,720</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">A-</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">2,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Hlth., Hosp. &amp; Nursing Home Impvts. RB, North Shore Long Island Jewish Grp. Proj.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

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

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">5.50%, 5/01/33</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">05/13 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,132,420</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">BBB</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">1,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Hlth., Hosp. &amp; Nursing Home RB, Mt. Sinai Hosp. Proj., 5.50%, 7/01/26</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">07/08 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,016,970</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">BBB</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">5,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Hlth., Hosp. &amp; Nursing Home RB, Mt. Sinai NYU Hlth. Proj., 5.50%, 7/01/26</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">07/08 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,084,850</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">9,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Univ. &amp; Coll. Impvts. RB, New Sch. Univ. Proj., 5.00%, 7/01/41, MBIA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">07/11 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">9,232,470</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">5,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Univ. &amp; Coll. Impvts. RB, New York Univ. Proj., Ser. 2, 5.00%, 7/01/41, AMBAC</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">07/11 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,129,150</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">750</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Univ. &amp; Coll. Impvts. RB, The New Sch. Proj., 5.00%, 7/01/46, MBIA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">07/16 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">787,013</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">Aa1</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">850</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Hsg. Fin. Agcy., St. Multi-Fam. Hsg. RB, Kensico Terrace Apts. Proj., Ser. B, 4.95%,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">2/15/38, AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">02/08 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">851,071</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">3,900</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Hudson Yards Infrastructure Corp., Trans. Impvts. Misc. RB, Ser. A, 4.50%, 2/15/47,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">MBIA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">02/17 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,845,751</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Liberty Dev. Corp.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">AA-</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">13,025</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Indl. Impvts. Misc. RB, Goldman Sachs Group, Inc. Proj., 5.25%, 10/01/35</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">No Opt. Call</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">14,910,759</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">B3</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">1,740</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Recreational Fac. Impvts. RB, Nat. Sports Museum Proj., Ser. A, 6.125%, 2/15/19</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">02/16 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,822,406</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">A-</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">5,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Long Island Pwr. Auth., Elec., Pwr. &amp; Lt. RB, Ser. B, 5.00%, 12/01/35</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">06/16 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">5,242,950</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">AA-</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">2,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Madison Cnty. Indl. Dev. Agcy., Univ. &amp; Coll. Impvts. RB, Colgate Univ. Proj., Ser. B,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">5.00%, 7/01/33</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">07/13 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,076,580</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Met. Transp. Auth.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">AA</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">12,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Trans. RB, Ser. A, 5.00%, 11/15/30</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">11/12 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">12,431,880</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">A</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">12,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Trans. RB, Ser. A, 5.125%, 11/15/31</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">11/12 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">12,558,120</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Mtg. Agcy., Local or Gtd. Hsg. RB,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">Aa1</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">5,950</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. 101, 5.40%, 4/01/32, AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">10/11 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">6,118,801</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">Aaa</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">15,500</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. A, 5.30%, 10/01/31, AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">04/11 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">15,830,770</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">New York City Indl. Dev. Agcy.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">A</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">750</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Cash Flow Mgmt. Lease RB, Marymount Sch. Proj., 5.125%, 9/01/21, ACA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">09/11 @ 102</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">775,560</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">A</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">2,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Cash Flow Mgmt. Lease RB, Marymount Sch. Proj., 5.25%, 9/01/31, ACA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">09/11 @ 102</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,116,280</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">BBB-</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">2,000</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Econ. Impvts. RB, IAC/Interactive Corp. Proj., 5.00%, 9/01/35</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">09/15 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">2,069,180</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">1,550</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Indl. Impvts. RB, Royal Charter Presbyterian Proj., 5.25%, 12/15/32, FSA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">12/11 @ 102</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">1,660,530</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">BBB-</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">14,850</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Port, Arpt. &amp; Marina Impvts. Lease RB, Airis JFK I LLC Proj., Ser. A, 5.50%, 7/01/28,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

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

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">07/11 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">15,361,285</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center nowrap>
<FONT size=2 face="serif">B</FONT>
  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=right nowrap>
<FONT size=2 face="serif">3,200</FONT>
  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Port, Arpt. &amp; Marina Impvts. RB, American Airlines, Inc./JFK Intl. Arpt. Proj., 7.625%,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

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

  </TD>
  <TD width="2%">&nbsp;
  </TD>
  <TD width="5%" align=left nowrap>&nbsp;

  </TD>
  <TD width="4%" nowrap>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">8/01/25, AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="6%" align=center nowrap>
<FONT size=2 face="serif">08/16 @ 101</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="1%" align=right>&nbsp;</TD>
  <TD align=right nowrap>
<FONT size=2 face="serif">3,904,960</FONT>
  </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">1 </FONT></P>

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



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

<P align="left">
<B><FONT face="serif">BlackRock New York Municipal Income Trust (BNY) (continued)</FONT></B><B><FONT face="serif"> </FONT></B><BR>
<B><FONT face="serif">(Percentage of Net Assets) </FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width="6%" align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;&nbsp;&nbsp;
  </TD>
  <TD width="4%" align=center nowrap>
<B><FONT size=2 face="serif">Principal</FONT></B>
  </TD>
  <TD width="4%">&nbsp;&nbsp;&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;&nbsp;&nbsp;
  </TD>
  <TD width="6%" align=left nowrap>&nbsp;

  </TD>
  <TD width="2%">&nbsp;&nbsp;&nbsp;
  </TD>
  <TD width="1%" align=left>&nbsp;</TD>
  <TD width="6%" align=left nowrap>&nbsp;

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

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=center nowrap>
<B><FONT size=2 face="serif">Amount</FONT></B>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<B><FONT size=2 face="serif">Option Call</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;

  </TD>
</TR>
<TR valign="bottom">
  <TD align=center style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Rating</FONT></B><B><SUP><FONT size=2 face="serif">1</FONT></SUP></B>
  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;
  </TD>
  <TD width="4%" align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">(000)</FONT></B>
  </TD>
  <TD width="4%" style="border-bottom:1px solid #000000;">&nbsp;
  </TD>
  <TD width="52%" align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Description</FONT></B>
  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;
  </TD>
  <TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Provisions</FONT></B><B><SUP><FONT size=2 face="serif">2</FONT></SUP></B>
  </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;
  </TD>
  <TD align=center style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=center style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">Value</FONT></B>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<B><FONT size=2 face="serif">New York&#151;(cont'd)</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<FONT size=2 face="serif">B</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>
<FONT size=2 face="serif">&#36; 4,000</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Port, Arpt. &amp; Marina Impvts. RB, American Airlines, Inc./JFK Intl. Arpt. Proj., 7.75%,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">8/01/31, AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">08/16 @ 101</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right><div align="left"><FONT size=2 face="serif">&#36;</FONT></div></TD>
  <TD align=right>
<FONT size=2 face="serif"> 4,905,920</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">2,750</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">New York City Mun. Fin. Auth., Wtr. Util. Impvts. Wtr. RB, Second Gen. Resolution Proj.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. A, 4.50%, 6/15/37, MBIA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">06/16 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">2,736,332</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">New York City Mun. Wtr. Fin. Auth.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">4,000</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Cash Flow Mgmt. Wtr. RB, Ser. A, 5.00%, 6/15/32, FGIC</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">06/11 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">4,119,960</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<FONT size=2 face="serif">AA+</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">6,500</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Wtr. RB, Ser. C, 5.00%, 6/15/32</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">06/11 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">6,705,400</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center>
<FONT size=2 face="serif">AA+</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">5,000</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Wtr. RB, Ser. D, 5.00%, 6/15/39</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">06/15 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">5,222,900</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<FONT size=2 face="serif">AA+</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">1,500</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Wtr. Util. Impvts. Wtr. RB, Ser. D, 5.00%, 6/15/38</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">06/16 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">1,574,310</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">2,520</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">New York City Transl. Fin. Auth., Pub. Impvts. Income Tax RB, 5.00%, 5/01/29</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">05/09 @ 101</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">2,585,092</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Port Auth. of New York &amp; New Jersey, Port, Arpt. &amp; Marina Impvts. RB,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center>
<FONT size=2 face="serif">Caa1</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">9,250</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Contl. Airlines Proj., 9.125%, 12/01/15, AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">03/07 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">9,633,875</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">13,000</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">JFK Intl. Air Terminal LLC Proj., 5.75%, 12/01/22, MBIA, AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">12/07 @ 102</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">13,443,040</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center>
<FONT size=2 face="serif">BBB</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">2,500</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Rensselaer Tobacco Sec. Corp., Misc. Tobacco Settlement Funded RB, Ser. A, 5.75%,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

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

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">6/01/43</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">06/12 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">2,630,800</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center>
<FONT size=2 face="serif">BBB</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">5,000</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Rockland Tobacco Asset Sec. Corp., Misc. Tobacco Settlement Funded RB, 5.75%, 8/15/43</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">08/12 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">5,270,750</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Suffolk Cnty. Indl. Dev. Agcy.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center>
<FONT size=2 face="serif">BBB-</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">1,175</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Hlth., Hosp. &amp; Nursing Home RB, Active Retirement Cmnty. Proj., 5.00%, 11/01/28</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">11/16 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">1,193,036</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<FONT size=2 face="serif">A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">7,000</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Indl. Impvts. RB, Keyspan-Port Jefferson Proj., 5.25%, 6/01/27, AMT</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">06/13 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">7,325,360</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">TSASC, Inc.,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">8,000</FONT>
  </TD>
  <TD width="4%"><SUP><FONT size=2 face="serif">4</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Cash Flow Mgmt. Tobacco Settlement Funded RB, Ser. 1, 6.375%, 7/15/09</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">8,567,920</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">5,000</FONT>
  </TD>
  <TD width="4%"><SUP><FONT size=2 face="serif">4</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Rec. Recovery Impvts. Tobacco Settlement Funded RB, Ser. 1, 5.75%, 7/15/12</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">5,486,300</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<FONT size=2 face="serif">AA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">2,500</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Westchester Cnty. Indl. Dev. Agcy., Private Primary Schs. RB, Winward Sch. Civic Fac.</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Proj., 5.25%, 10/01/31, RAA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">10/11 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">2,598,225</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<FONT size=2 face="serif">AAA</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">2,000</FONT>
  </TD>
  <TD width="4%"><SUP><FONT size=2 face="serif">4</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Westchester Tobacco Asset Sec., Cash Flow Mgmt. Tobacco Settlement Funded RB,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">6.75%, 7/15/10</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,208,260</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>&nbsp;

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

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">251,363,983</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<B><FONT size=2 face="serif">Puerto Rico&#151;15.9%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<FONT size=2 face="serif">BBB</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">4,060</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Children's Trust Fund, Tobacco Settlement Funded RB, 5.625%, 5/15/43</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">05/12 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">4,260,848</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Pub. Bldgs. Auth., Pub. Impvts. Lease RB,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<FONT size=2 face="serif">BBB</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">4,400</FONT>
  </TD>
  <TD width="4%"><SUP><FONT size=2 face="serif">4</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. D, 5.25%, 7/01/12</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">4,711,784</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center>
<FONT size=2 face="serif">BBB</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">1,600</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. D, 5.25%, 7/01/36</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">07/12 @ 100</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">1,673,488</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Pub. Fin. Corp., Cash Flow Mgmt. Misc. RB,</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center>
<FONT size=2 face="serif">Aaa</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">7,475</FONT>
  </TD>
  <TD width="4%"><SUP><FONT size=2 face="serif">4</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. E, 5.50%, 2/01/12</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">8,059,321</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=center>
<FONT size=2 face="serif">Aaa</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">7,000</FONT>
  </TD>
  <TD width="4%"><SUP><FONT size=2 face="serif">4</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. E, 5.70%, 2/01/10</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">7,381,850</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center>
<FONT size=2 face="serif">Aaa</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">5,500</FONT>
  </TD>
  <TD width="4%"><SUP><FONT size=2 face="serif">4</FONT></SUP>&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
 &nbsp; &nbsp;<FONT size=2 face="serif">Ser. E, 5.75%, 2/01/07</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">5,500,000</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>&nbsp;

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

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">31,587,291</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<B><FONT size=2 face="serif">Total Long-Term Investments (cost &#36;289,201,988)</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">304,539,209</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=center nowrap>
<B><FONT size=2 face="serif">Shares</FONT></B>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>&nbsp;

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

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

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

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="serif">(000)</FONT></B>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>&nbsp;

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

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

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

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<B><FONT size=2 face="serif">MONEY MARKET FUND&#151;1.2%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

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

  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=center>
<FONT size=2 face="serif">NR</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap><FONT size=2 face="serif">2,350</FONT>
  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">AIM Tax Free Cash Reserve Portfolio - Institutional Class (cost &#36; 2,350,000)</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=center nowrap>
<FONT size=2 face="serif">N/A</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">2,350,000</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<B><FONT size=2 face="serif">Total Investments &#151;154.8% (cost &#36;291,551,988</FONT></B><B><SUP><FONT size=2 face="serif">5</FONT></SUP></B><B><FONT size=2 face="serif">)</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right><div align="left"><FONT size=2 face="serif">&#36;</FONT></div></TD>
  <TD align=right>
<FONT size=2 face="serif"> 306,889,209</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Other assets in excess of liabilities &#151;0.6%</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>
<FONT size=2 face="serif">1,246,221</FONT>
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<FONT size=2 face="serif">Preferred shares at redemption value, including dividends payable &#151;(55.4)%</FONT>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=right style="border-bottom:1px solid #000000;">
<FONT size=2 face="serif">(109,799,456)</FONT>
  </TD>
</TR>
<TR valign="bottom" bgcolor="#C0C0C0">
  <TD align=left>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD width="4%" align=right nowrap>&nbsp;

  </TD>
  <TD width="4%">&nbsp;
  </TD>
  <TD width="52%" align=left nowrap>
<B><FONT size=2 face="serif">Net Assets Applicable to Common Shareholders&#151;100%</FONT></B>
  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=left nowrap>&nbsp;

  </TD>
  <TD>&nbsp;
  </TD>
  <TD align=right style="border-bottom:3px double #000000;"><div align="left"><FONT size=2 face="serif">&#36;</FONT></div></TD>
  <TD align=right style="border-bottom:3px double #000000;">
<FONT size=2 face="serif"> 198,335,974</FONT>
  </TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD nowrap valign=top>&nbsp;</TD>
  <TD><hr align="left" noshade width="100" size="1">    </TD>
</TR>
<TR>
  <TD nowrap valign=top>
<SUP><FONT size=2 face="serif">1</FONT></SUP>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=100%>
<P align="left"><FONT size=2 face="serif">Using the highest of Standard &amp; Poor's, Moody's Investors Service or Fitch's Ratings.</FONT></P>
  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<SUP><FONT size=2 face="serif">2</FONT></SUP>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=100%>
<P align="left"><FONT size=2 face="serif">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></P>
  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<SUP><FONT size=2 face="serif">3</FONT></SUP>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=100%>
<P 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 January 31,
2007, the Trust held 9.3% of its net assets, with a current market value of &#36;18,362,335, in securities restricted as to resale.</FONT></P>
  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<SUP><FONT size=2 face="serif">4</FONT></SUP>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=100%>
<P 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></P>
  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
  <TD nowrap valign=top>
<SUP><FONT size=2 face="serif">5</FONT></SUP>&nbsp; &nbsp; &nbsp;   </TD>
  <TD width=100%>
<P align="left"><FONT size=2 face="serif">Cost for federal income tax purposes is &#36;291,547,262. The net unrealized appreciation on a tax basis is &#36;15,341,947, consisting of &#36;15,620,740 gross unrealized appreciation and &#36;278,793 gross
unrealized depreciation.</FONT></P>
  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="center">
<FONT size=2 face="serif">2 </FONT></P>

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

<P align="left">
<B><FONT face="serif">BlackRock New York Municipal Income Trust (BNY) (continued)</FONT></B><B><FONT face="serif"> </FONT></B><BR>
<B><FONT face="serif">(Percentage of Net Assets) </FONT></B></P>
<CENTER><DIV STYLE="BORDER:1PX SOLID BLACK; width:70%; padding:1%">

  <table width="80%" border=0 align="center" cellpadding=0 cellspacing=0>
    <tr valign="bottom">
      <td colspan=5 align=center nowrap><b><font size=2 face="serif">KEY TO ABBREVIATIONS</font></b> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><font size=2 face="serif">ACA</font> </td>
      <td align=left nowrap><font size=2 face="serif">&#151; American Capital Access</font> </td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">GO</font> </td>
      <td align=left nowrap><font size=2 face="serif">&#151; General Obligation</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><font size=2 face="serif">AMBAC&nbsp;</font> </td>
      <td align=left nowrap><font size=2 face="serif">&#151; American Municipal Bond Assurance Corp.</font> </td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">MBIA</font> </td>
      <td align=left nowrap><font size=2 face="serif">&#151; Municipal Bond Insurance Assoc.</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><font size=2 face="serif">AMT</font> </td>
      <td align=left nowrap><font size=2 face="serif">&#151; Subject to Alternative Minimum Tax</font> </td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">RAA</font> </td>
      <td align=left nowrap><font size=2 face="serif">&#151; Radian Asset Assurance</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><font size=2 face="serif">FGIC</font> </td>
      <td align=left nowrap><font size=2 face="serif">&#151; Financial Guaranty Insurance Co.</font> </td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap><font size=2 face="serif">RB</font> </td>
      <td align=left nowrap><font size=2 face="serif">&#151; Revenue Bond</font> </td>
    </tr>
    <tr valign="bottom">
      <td align=left nowrap><font size=2 face="serif">FSA</font> </td>
      <td align=left nowrap><font size=2 face="serif">&#151; Financial Security Assurance</font> </td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
      <td align=left nowrap>&nbsp;</td>
    </tr>
  </table>
</div></CENTER>
<BR>
<P align="center">
<FONT size=2 face="serif">3 </FONT></P>

<HR noshade width="100%" size=4>
<P align="left" style="page-break-before:always"></P><PAGE>
<P align="left">
<B><FONT face="serif">Item 2. Controls and Procedures.</FONT></B><FONT face="serif"> </FONT></P>
<P align="left">
<FONT 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 its principal executive and principal financial officers, as appropriate, to allow timely
decisions regarding required disclosure. </FONT></P>
<P align="left">
<FONT 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 align="left">
<B><FONT face="serif">Item 3. Exhibits.</FONT></B><FONT face="serif"> </FONT></P>
<P align="left">
<FONT 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>

<center>
  <FONT size=2 face="serif">4</FONT>
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<P align="left" style="page-break-before:always"></P><PAGE>
<P align="center">
<B><FONT face="serif">SIGNATURES</FONT></B><FONT face="serif"> </FONT></P>
<P align="left">
<FONT face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>
<table width="45%"  border="0" cellspacing="0" cellpadding="0">
  <tr align="left">
    <td width="23%" nowrap><font face="serif">(Registrant)</font></td>
    <td width="77%" nowrap style="border-bottom:1px solid #000000;"><font face="serif">BlackRock New York Municipal Income Trust</font></td>
  </tr>
</table>
<P align="left">  <FONT face="serif">By: <u>/s/ Donald C. Burke&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: Donald C. Burke </FONT><BR>
  <FONT face="serif">Title: Treasurer and Principal Financial Officer </FONT><BR>
  <FONT face="serif">Date: March 28, 2007 </FONT></P>
<P align="left">
<FONT face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 align="left">
<FONT 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;</u> </FONT><BR>
<FONT face="serif">Name: Robert S. Kapito </FONT><BR>
<FONT face="serif">Title: President and Principal Executive Officer </FONT><BR>
<FONT face="serif">Date: March 28, 2007 </FONT><BR>
<BR>
<FONT face="serif">By: <u>/s/ Donald C. Burke&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: Donald C. Burke </FONT><BR>
<FONT face="serif">Title: Treasurer and Principal Financial Officer </FONT><BR>
<FONT face="serif">Date: March 28, 2007 </FONT></P>

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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>c47547_ex99-cert.htm
<TEXT>

<HTML>
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   <TITLE>c47521_ex99-cert.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
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<BODY bgcolor="#ffffff">


<P align="right">
<B><FONT face="serif">EX-99.CERT </FONT></B></P>
<p align="center"><B><FONT face="serif">CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER </FONT></B><BR>
<BR>
<B><U><FONT face="serif">CERTIFICATIONS</FONT></U></B><B><FONT face="serif"> </FONT></B></P>
<P align="left">
<FONT face="serif">I, Robert S. Kapito, certify that: </FONT></P>
<P align="left">
<FONT face="serif">1. I have reviewed this report on Form N-Q of </FONT><FONT face="serif">BlackRock New York Municipal Income Trust; </FONT></P>
<P align="left">
<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 align="left">
<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 align="left">
<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 align="left">
<FONT face="serif">(a)</FONT><FONT size=2 face="sans-serif"> </FONT><FONT face="serif">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">
<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 align="left">
<FONT face="serif">(c)</FONT><FONT size=2 face="sans-serif"> </FONT><FONT face="serif">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 align="left">
<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>
<P align="left">
<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 align="left">
<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 align="left">
<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>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=left width=25%>
<FONT face="serif">Date: March 28, 2007</FONT>&nbsp;
  </TD>
  <TD width=26%>&nbsp;
  </TD>
  <TD align=left width=48% style="border-bottom:1px solid #000000;"><center>
    /s/ Robert S. Kapito

</center></TD>
</TR>
<TR valign="bottom">
  <TD align=left width=25%>&nbsp;

  </TD>
  <TD width=26%>&nbsp;
  </TD>
  <TD align=center width=48%>
<FONT face="serif">Robert S. Kapito</FONT>&nbsp;
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left width=25%>&nbsp;

  </TD>
  <TD width=26%>&nbsp;
  </TD>
  <TD align=center width=48%>
<FONT face="serif">President and Principal Executive Officer</FONT>&nbsp;
  </TD>
</TR>
</TABLE><BR>

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



<P align="left" style="page-break-before:always"></P><PAGE>
<P align="right">
<B><FONT face="serif">EX-99.CERT </FONT></B></p>
<p align="center"><B><FONT face="serif">CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER </FONT></B><BR>
<BR>
<B><U><FONT face="serif">CERTIFICATIONS</FONT></U></B><B><FONT face="serif"> </FONT></B></P>
<P align="left">
<FONT face="serif">I, Donald C. Burke, certify that: </FONT></P>
<P align="left">
<FONT face="serif">1. I have reviewed this report on Form N-Q of </FONT><FONT face="serif">BlackRock New York Municipal Income Trust; </FONT></P>
<P align="left">
<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 align="left">
<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 align="left">
<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 align="left">
<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 align="left">
<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 align="left">
<FONT face="serif">(c)</FONT><FONT size=2 face="sans-serif"> </FONT><FONT face="serif">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 align="left">
<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>
<P align="left">
<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 align="left">
<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 align="left">
<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>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=left width=6%>
<FONT face="serif">Date:</FONT>&nbsp;
  </TD>
  <TD width=2%>&nbsp;
  </TD>
  <TD align=left width=18%>
<FONT face="serif">March 28, 2007</FONT>&nbsp;
  </TD>
  <TD width=25%>&nbsp;
  </TD>
  <TD align=left width=47% style="border-bottom:1px solid #000000;"><center>
    /s/ Donald C. Burke

</center></TD>
</TR>
<TR valign="bottom">
  <TD align=left width=6%>&nbsp;

  </TD>
  <TD width=2%>&nbsp;
  </TD>
  <TD align=left width=18%>&nbsp;

  </TD>
  <TD width=25%>&nbsp;
  </TD>
  <TD align=center width=47%>
<FONT face="serif">Donald C. Burke</FONT>&nbsp;
  </TD>
</TR>
<TR valign="bottom">
  <TD align=left width=6%>&nbsp;

  </TD>
  <TD width=2%>&nbsp;
  </TD>
  <TD align=left width=18%>&nbsp;

  </TD>
  <TD width=25%>&nbsp;
  </TD>
  <TD align=center width=47%>
<FONT face="serif">Treasurer and Principal Financial Officer</FONT>&nbsp;
  </TD>
</TR>
</TABLE><BR>

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