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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001171200-09-001064.txt : 20091223
<SEC-HEADER>0001171200-09-001064.hdr.sgml : 20091223
<ACCEPTANCE-DATETIME>20091223132653
ACCESSION NUMBER:		0001171200-09-001064
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20091031
FILED AS OF DATE:		20091223
DATE AS OF CHANGE:		20091223
EFFECTIVENESS DATE:		20091223

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:		091257465

	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>i00494_bny-nq.htm
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body>
        <hr style="MARGIN-TOP: -5px" size="4" width="100%" noshade>
        <hr style="MARGIN-TOP: -10px" size="1" width="100%" noshade>

        <p align="center"><font size="4">UNITED STATES<br>
        SECURITIES AND EXCHANGE COMMISSION<br>
        </font><font size="3">Washington, D.C. 20549 </font></p>

        <p align="center"><font size="5"><b>FORM N-Q</b> </font></p>

        <p align="center"><font size="3"><b>QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY</b></font></p>

        <p><font size="2">Investment Company Act file number 811-10337</font></p>

        <p><font size="2">Name of Fund: BlackRock New York Municipal Income Trust (BNY)</font></p>

        <p><font size="2">Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809</font></p>

        <p style="TEXT-INDENT: -25.9pt; MARGIN-LEFT: 25.9pt"><font size="2">Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock New York Municipal Income Trust, 55 East 52<sup>nd</sup> Street, New York, NY 10055.</font></p>

        <p><font size="2">Registrant&rsquo;s telephone number, including area code: (800) 882-0052, Option 4</font></p>

        <p><font size="2">Date of fiscal year end: 07/31/2010</font></p>

        <p><font size="2">Date of reporting period: 10/31/2009</font></p>

        <p><font size="2">Item 1 &ndash; Schedule of Investments</font></p>
        <hr style="MARGIN-TOP: -2px" size="1" width="100%" noshade>
        <hr style="MARGIN-TOP: -10px" size="4" width="100%" noshade>

        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE><!-- insert -->

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="54%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" colspan="2">
                    <p><font size="3"><b>BlackRock New York Municipal Income Trust (BNY)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Schedule of Investments October 31, 2009 (Unaudited)</b></font></p>
                </td>

                <td valign="top">
                    <p align="right"><font size="2"><b>(Percentages shown are based on Net Assets)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="26%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="1"><b>Municipal Bonds</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Par<br>
                    (000)</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Value</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>New York - 122.5%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Corporate - 17.8%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Essex County Industrial Development Agency, New<br>
                    York, RB, International Paper Co. Project,<br>
                    Series A, AMT, 6.63%, 9/01/32</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">550</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">558,563</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York City Industrial Development Agency, RB,<br>
                    American Airlines, JFK International Airport, AMT,<br>
                    7.63%, 8/01/25</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">3,200</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">3,076,448</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York City Industrial Development Agency, RB,<br>
                    American Airlines, JFK International Airport, AMT,<br>
                    7.75%, 8/01/31</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">4,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">3,861,080</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York City Industrial Development Agency, RB,<br>
                    Liberty Interactive Corp., 5.00%, 9/01/35</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,363,820</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York Liberty Development Corp., RB, Goldman<br>
                    Sachs Headquarters, 5.25%, 10/01/35</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">7,850</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">7,679,969</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Port Authority of New York &amp; New Jersey, RB,<br>
                    Continental, Eastern Project, LaGuardia, AMT,<br>
                    9.13%, 12/01/15</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">7,820</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">7,827,976</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Suffolk County Industrial Development Agency, New<br>
                    York, RB, Keyspan, Port Jefferson, AMT, 5.25%,<br>
                    6/01/27</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">7,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">6,735,330</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">31,103,186</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>County/City/Special District/School District - 22.4%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">City of New York New York, GO, Series A-1, 4.75%,<br>
                    8/15/25</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">750</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">771,127</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">City of New York New York, GO, Series C, 5.38%,<br>
                    3/15/12 (a)</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">6,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">6,621,360</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">City of New York New York, GO, Series D, 5.38%,<br>
                    6/01/12 (a)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,200</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,447,082</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">City of New York New York, GO, Series D, 5.38%,<br>
                    6/01/32</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">4,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">4,085,360</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">City of New York New York, GO, Sub-Series G-1,<br>
                    6.25%, 12/15/31</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">500</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">573,735</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">City of New York New York, GO, Sub-Series I-1,<br>
                    5.38%, 4/01/36</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,750</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,873,375</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="100%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p style="MARGIN-LEFT: 2%"><font size="2"><b>Portfolio Abbreviations</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>
        </table>

        <p style="MARGIN-LEFT: 2%"><font size="2">To simplify the listings of the portfolio holdings in the Schedule of Investments, we have abbreviated the names of many of the securities according to the following list.</font></p>

        <table style="MARGIN-LEFT: 2%" border="0" cellspacing="0" cellpadding="0" width="98%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="12%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="88%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>ACA</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">American Capital Access Corp.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>AGC</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">Assured Guaranty Corp.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>AMBAC</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">American Municipal Bond Assurance Corp.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>AMT</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">Alternative Minimum Tax (subject to)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>CAB</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">Capital Appreciation Bonds</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>CIFG</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">CDC IXIS Financial Guaranty</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>FHA</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">Federal Housing Administration</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>FSA</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">Financial Security Assurance Inc.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>GO</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">General Obligation Bonds</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>HFA</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">Housing Finance Agency</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>MBIA</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">Municipal Bond Investors Assurance (National Public Finance Guaranty Corp.)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>PILOT</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">Payment in Lieu of Taxes</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>RB</b></font></p>
                </td>

                <td valign="top">
                    <p><font size="2">Revenue Bonds</font></p>
                </td>
            </tr>
        </table>

        <p align="center"><font size="2">1</font></p>
        <hr align="center" size="4" width="100%" noshade>

        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE><br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="54%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" colspan="2">
                    <p><font size="3"><b>BlackRock New York Municipal Income Trust (BNY)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Schedule of Investments October 31, 2009 (Unaudited)</b></font></p>
                </td>

                <td valign="top">
                    <p align="right"><font size="2"><b>(Percentages shown are based on Net Assets)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="26%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="1"><b>Municipal Bonds</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Par<br>
                    (000)</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Value</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Hudson Yards Infrastructure Corp., RB, Series A, 5.00%,<br>
                    2/15/47</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,500</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,272,575</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Hudson Yards Infrastructure Corp., RB, Series A<br>
                    (MBIA), 4.50%, 2/15/47</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,750</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,466,062</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York City Industrial Development Agency, RB,<br>
                    Marymount School of NY Project (ACA), 5.13%,<br>
                    9/01/21</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">750</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">757,350</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York City Industrial Development Agency, RB,<br>
                    Marymount School of NY Project (ACA), 5.25%,<br>
                    9/01/31</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,500</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,439,670</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York City Industrial Development Agency, RB,<br>
                    Queens Baseball Stadium, PILOT (AGC), 6.38%,<br>
                    1/01/39</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">150</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">170,808</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York City Industrial Development Agency, RB,<br>
                    Queens Baseball Stadium, PILOT (AMBAC), 5.00%,<br>
                    1/01/36</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">4,900</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">4,454,639</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York City Industrial Development Agency, RB,<br>
                    Queens Baseball Stadium, PILOT (AMBAC), 5.00%,<br>
                    1/01/46</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">250</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">224,350</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York City Industrial Development Agency, RB,<br>
                    Royal Charter, NY Presbyterian (FSA), 5.25%,<br>
                    12/15/32</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,550</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,572,661</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York City Industrial Development Agency, RB,<br>
                    Yankee Stadium, PILOT (MBIA), 5.00%, 3/01/36</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">250</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">230,418</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York City Transitional Finance Authority, RB,<br>
                    Fiscal 2009, Series S-3, 5.25%, 1/15/39</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">650</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">674,947</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York City Transitional Finance Authority, RB,<br>
                    Series S-2 (MBIA), 4.25%, 1/15/34</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,700</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,535,304</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York Convention Center Operating Corp., RB,<br>
                    Hotel Unit Fee Secured (AMBAC), 5.00%, 11/15/44</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">8,410</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">7,845,689</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">39,016,512</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Education - 23.2%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Albany Industrial Development Agency, RB, New<br>
                    Covenant Charter School Project, Series A, 7.00%,<br>
                    5/01/25</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">910</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">620,256</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Albany Industrial Development Agency, RB, New<br>
                    Covenant Charter School Project, Series A, 7.00%,<br>
                    5/01/35</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">590</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">373,836</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Dutchess County Industrial Development Agency, New<br>
                    York, RB, Bard College Civic Facility,<br>
                    Series A-2, 4.50%, 8/01/36</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">7,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">5,845,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Madison County Industrial Development Agency, New<br>
                    York, RB, Colgate University Project, Series B,<br>
                    5.00%, 7/01/33</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,024,580</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>
        </table>

        <p align="center"><font size="2">2</font></p>
        <hr align="center" size="4" width="100%" noshade>

        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE><br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="54%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" colspan="2">
                    <p><font size="3"><b>BlackRock New York Municipal Income Trust (BNY)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Schedule of Investments October 31, 2009 (Unaudited)</b></font></p>
                </td>

                <td valign="top">
                    <p align="right"><font size="2"><b>(Percentages shown are based on Net Assets)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="26%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="1"><b>Municipal Bonds</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Par<br>
                    (000)</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Value</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Madison County Industrial Development Agency, New<br>
                    York, RB, Commons II LLC, Student Housing,<br>
                    Series A (CIFG), 5.00%, 6/01/33</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">275</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">253,869</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York City Industrial Development Agency, RB,<br>
                    Polytechnic University Project (ACA), 5.25%,<br>
                    11/01/37</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,400</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,059,224</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York City Trust for Cultural Resources, RB,<br>
                    Juilliard School, Series A, 5.00%, 1/01/39</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,100</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,190,888</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York Liberty Development Corp., RB, National<br>
                    Sports Museum Project, Series A, 6.13%,<br>
                    2/15/19 (b)(c)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,740</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">174</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, 5.83%,<br>
                    7/01/39 (d)</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">750</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">595,245</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, Mount<br>
                    Sinai School of Medicine, 5.13%, 7/01/39 (e)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">4,250</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">4,102,143</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, Mount<br>
                    Sinai School of Medicine New York University (MBIA),<br>
                    5.00%, 7/01/35</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">950,040</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, New School<br>
                    University (MBIA), 5.00%, 7/01/41</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">9,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">8,932,860</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, New York<br>
                    University, Series 2 (AMBAC), 5.00%, 7/01/41</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">5,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">5,024,300</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, Rochester<br>
                    Institute Technology, Series A, 6.00%, 7/01/33</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,092,360</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, Teachers<br>
                    College, 5.50%, 3/01/39</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">450</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">470,966</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, University<br>
                    of Rochester, Series A, 5.13%, 7/01/39</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">850</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">871,777</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, Yeshiva<br>
                    University, 5.00%, 9/01/34</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">275</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">279,903</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, Yeshiva<br>
                    University, 5.00%, 9/01/38</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,027,800</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, Refunding RB,<br>
                    Brooklyn Law School, 5.75%, 7/01/33</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">475</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">486,638</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Westchester County Industrial Development Agency,<br>
                    New York, RB, Windward School Civic Facilities<br>
                    (Radian), 5.25%, 10/01/31</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,500</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,369,050</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">40,570,909</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Health - 7.2%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Genesee County Industrial Development Agency,<br>
                    New York, RB, United Memorial Medical Center<br>
                    Project, 5.00%, 12/01/27</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">500</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">392,245</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, FHA, NY &amp;<br>
                    Presbyterian Hospital (FSA), 5.25%, 2/15/31</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">800</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">822,768</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, Hudson<br>
                    Valley Hospital (FSA), 5.00%, 8/15/36</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">750</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">777,863</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>
        </table>

        <p align="center"><font size="2">3</font></p>
        <hr align="center" size="4" width="100%" noshade>

        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE><br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="54%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" colspan="2">
                    <p><font size="3"><b>BlackRock New York Municipal Income Trust (BNY)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Schedule of Investments October 31, 2009 (Unaudited)</b></font></p>
                </td>

                <td valign="top">
                    <p align="right"><font size="2"><b>(Percentages shown are based on Net Assets)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="26%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="1"><b>Municipal Bonds</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Par<br>
                    (000)</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Value</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, Mount<br>
                    Sinai NYU Health, Series C, 5.50%, 7/01/26</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">3,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">3,001,380</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, NYS<br>
                    Association for Retarded Children, Inc., Series B<br>
                    (AMBAC), 6.00%, 7/01/32</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">200</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">210,778</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, NYS<br>
                    Association for Retarded Children, Inc., Series A, 6.00%, 7/01/32</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">575</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">597,598</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, NYU<br>
                    Hospital Center, Series B, 5.63%, 7/01/37</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">530</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">514,407</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, North Shore<br>
                    Long Island Jewish Group, 5.50%, 5/01/13 (a)</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,284,060</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, North<br>
                    Shore Long Island Jewish Group, Series A, 5.50%,<br>
                    5/01/37</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,775</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,793,318</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, North<br>
                    Shore Long Island Jewish Group, Series E, 5.50%,<br>
                    5/01/33</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,100</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,114,619</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Suffolk County Industrial Development Agency, New<br>
                    York, Refunding RB, Jeffersons Ferry Project, 5.00%,<br>
                    11/01/28</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,175</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,037,983</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">12,547,019</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Housing - 2.1%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York Mortgage Agency, New York, RB, Homeowner<br>
                    Mortgage, Series 97, AMT, 5.50%,<br>
                    4/01/31</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,305</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,312,353</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State HFA, RB, Highland Ave Senior<br>
                    Apartments, Series A, AMT, 5.00%, 2/15/39</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,500</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,349,205</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">3,661,558</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>State - 5.2%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, Education,<br>
                    Series B, 5.75%, 3/15/36</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">600</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">662,616</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, Mental<br>
                    Health Services Facilities Improvement, Series B<br>
                    (AMBAC), 5.00%, 2/15/35</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">4,855</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">4,917,678</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, Municipal<br>
                    Health Facilities, Lease, Sub-Series 2-4, 4.75%,<br>
                    1/15/30</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,100</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,119,761</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York State Dormitory Authority, RB, School<br>
                    District Financing Program, Series A (FSA), 5.00%,<br>
                    10/01/35</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">395</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">400,949</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">State of New York, GO, Series A, 5.00%, 2/15/39</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">975</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,012,372</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">9,113,376</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>Tobacco - 10.3%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York Counties Tobacco Trust III, RB, Tobacco<br>
                    Settlement Pass Thru, Turbo, 6.00%, 6/01/43</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">6,700</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">5,982,631</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Rensselaer Tobacco Asset Securitization Corp., RB,<br>
                    Asset Backed, Series A, 5.75%, 6/01/43</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,500</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,150,300</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Rockland Tobacco Asset Securitization Corp., RB,<br>
                    Asset Backed Bonds, 5.75%, 8/15/43</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">5,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">4,299,200</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">TSASC Inc., New York, RB, Tobacco Settlement<br>
                    Asset-Backed, Series 1, 5.75%, 7/15/12 (a)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">3,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">3,377,370</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>
        </table>

        <p align="center"><font size="2">4</font></p>
        <hr align="center" size="4" width="100%" noshade>

        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE><br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="54%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" colspan="2">
                    <p><font size="3"><b>BlackRock New York Municipal Income Trust (BNY)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Schedule of Investments October 31, 2009 (Unaudited)</b></font></p>
                </td>

                <td valign="top">
                    <p align="right"><font size="2"><b>(Percentages shown are based on Net Assets)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="26%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="1"><b>Municipal Bonds</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Par<br>
                    (000)</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Value</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Westchester Tobacco Asset Securitization, New York,<br>
                    RB, CAB, Plan Principal 2021, 6.75%, 7/15/10 (a)</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,110,420</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">17,919,921</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>Transportation - 20.7%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Metropolitan Transportation Authority, RB,<br>
                    Series 2008C, 6.50%, 11/15/28</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">750</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">850,267</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Metropolitan Transportation Authority, RB,<br>
                    Series A, 5.00%, 11/15/30</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">12,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">12,080,400</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Metropolitan Transportation Authority, Refunding<br>
                    RB, Series A, 5.13%, 11/15/31</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">8,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">8,065,840</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York City Industrial Development Agency, RB, Airis<br>
                    JFK I LLC Project, Series A, AMT, 5.50%,<br>
                    7/01/28</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">10,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">7,149,700</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Port Authority of New York &amp; New Jersey, RB,<br>
                    Consolidated, 161st Series, 4.50%, 10/15/37 (e)</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">945,250</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Port Authority of New York &amp; New Jersey, RB, Special<br>
                    Project, JFK International Air Terminal,<br>
                    Series 6, AMT (MBIA), 5.75%, 12/01/22</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">7,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">7,113,890</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">36,205,347</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Utilities - 13.6%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Long Island Power Authority, RB, General, Series C<br>
                    (CIFG), 5.25%, 9/01/29</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,162,380</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Long Island Power Authority, RB, Series A, 6.25%,<br>
                    4/01/33</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">150</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">171,453</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Long Island Power Authority, RB, Series A, 5.75%,<br>
                    4/01/39</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">4,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">4,287,560</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York City Municipal Water Finance Authority, RB,<br>
                    2nd General Resolution (MBIA), 4.50%, 6/15/37</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,520</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,432,813</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York City Municipal Water Finance Authority,<br>
                    RB, Series A (MBIA), 5.00%, 6/15/32</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">4,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">4,028,920</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York City Municipal Water Finance Authority,<br>
                    RB, Series D, 5.00%, 6/15/39</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">5,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">5,085,500</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York City Municipal Water Finance Authority,<br>
                    Refunding RB, Crossover, Series C, 5.00%, 6/15/32</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">6,500</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">6,553,105</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">23,721,731</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2"><b>Total Municipal Bonds in New York</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">213,859,559</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>Guam - 1.6%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>County/City/Special District/School District - 0.7%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Territory of Guam, RB, Section 30, Series A, 5.75%,<br>
                    12/01/34</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,140</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,160,896</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>State - 0.6%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Territory of Guam, GO, Series A, 7.00%, 11/15/39</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">970</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,048,415</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Utilities - 0.3%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Guam Government Waterworks Authority, RB,<br>
                    Water, 5.88%, 7/01/35</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">600</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">570,624</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>Total Municipal Bonds in Guam</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,779,935</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Multi-State - 7.6%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>Housing - 7.6%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Charter Mac Equity Issuer Trust, 6.80%,<br>
                    11/30/50 (f)(g)</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">5,500</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">5,670,665</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>
        </table>

        <p align="center"><font size="2">5</font></p>
        <hr align="center" size="4" width="100%" noshade>

        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE><br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="54%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" colspan="2">
                    <p><font size="3"><b>BlackRock New York Municipal Income Trust (BNY)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Schedule of Investments October 31, 2009 (Unaudited)</b></font></p>
                </td>

                <td valign="top">
                    <p align="right"><font size="2"><b>(Percentages shown are based on Net Assets)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="26%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="1"><b>Municipal Bonds</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Par<br>
                    (000)</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Value</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">MuniMae TE Bond Subsidiary LLC, 6.30%,<br>
                    6/30/49 (f)(g)</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">6,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">5,564,880</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">MuniMae TE Bond Subsidiary LLC, 6.80%,<br>
                    6/30/50 (f)(g)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">3,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,099,940</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>Total Municipal Bonds in Multi-State</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">13,335,485</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Puerto Rico - 14.4%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>County/City/Special District/School District - 0.3%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Puerto Rico Sales Tax Financing Corporation, RB,<br>
                    CAB, Series A (MBIA), 5.80%, 8/01/41 (h)</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">3,500</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">536,235</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Housing - 1.7%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Puerto Rico HFA, RB, Subordinate, Capital Fund<br>
                    Modernization, 5.13%, 12/01/27</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">3,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">2,994,600</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>State - 11.4%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Puerto Rico Public Buildings Authority, RB, Government<br>
                    Facilities, Series D, 5.25%, 7/01/12 (a)</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">4,400</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">4,842,244</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Puerto Rico Public Buildings Authority, RB,<br>
                    Government Facilities, Series D, 5.25%, 7/01/36</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,600</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,481,168</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Puerto Rico Public Finance Corp., RB, Commonwealth<br>
                    Appropriation, Series E, 5.70%, 2/01/10 (a)</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">6,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">6,080,340</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Puerto Rico Public Finance Corp., RB, Commonwealth<br>
                    Appropriation, Series E, 5.50%, 2/01/12 (a)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">5,000</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">5,477,500</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Puerto Rico Sales Tax Financing Corp., RB, First<br>
                    Sub-Series A, 5.75%, 8/01/37</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,000</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">2,069,200</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">19,950,452</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>Utilities - 1.0%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">Puerto Rico Aqueduct &amp; Sewer Authority, RB, Senior<br>
                    Lien, Series A, 6.00%, 7/01/38</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,100</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,129,788</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Puerto Rico Electric Power Authority, Refunding RB,<br>
                    Series VV (MBIA), 5.25%, 7/01/29</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">500</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">512,340</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">1,642,128</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2"><b>Total Municipal Bonds in Puerto Rico</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">25,123,415</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>Total Municipal Bonds - 146.1%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">255,098,394</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="1"><b>Municipal Bonds Transferred to<br>
                    Tender Option Bond Trusts (i)</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>New York - 13.0%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Housing - 13.0%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York City Municipal Water Finance Authority, RB,<br>
                    Fiscal 2009, Series A, 5.75%, 6/15/40</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,200</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">1,323,106</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York City Municipal Water Finance Authority,<br>
                    RB, Series FF-2, 5.50%, 6/15/40</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">810</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">877,774</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">New York Mortgage Agency, New York, RB, 31st<br>
                    Street, Series A, AMT, 5.30%, 10/01/31</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">15,500</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">15,528,675</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">New York Mortgage Agency, New York, Refunding<br>
                    RB, Series 101, AMT, 5.40%, 4/01/32</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">4,918</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">4,927,877</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2"><b>Total Municipal Bonds Transferred to<br>
                    Tender Option Bond Trusts - 13.0%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">22,657,432</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>Total Long-Term Investments<br>
                    (Cost - $283,616,821) - 159.1%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">277,755,826</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>
        </table>

        <p align="center"><font size="2">6</font></p>
        <hr align="center" size="4" width="100%" noshade>

        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE><br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="54%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" colspan="2">
                    <p><font size="3"><b>BlackRock New York Municipal Income Trust (BNY)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Schedule of Investments October 31, 2009 (Unaudited)</b></font></p>
                </td>

                <td valign="top">
                    <p align="right"><font size="2"><b>(Percentages shown are based on Net Assets)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="26%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="45%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="2%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="1%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="top">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="1"><b>Short-Term Securities</b></font></p>
                </td>

                <td valign="top">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <p align="center"><font size="1"><b>Shares</b></font></p>
                </td>

                <td valign="top">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <p align="center"><font size="1"><b>Value</b></font></p>
                </td>

                <td valign="top">
                    <p align="center">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2">CMA New York Municipal Money<br>
                    Fund, 0.04% (j)(k)</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">3,735,772</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">3,735,772</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2"><b>Total Short-Term Securities<br>
                    (Cost - $3,735,772) - 2.1%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">3,735,772</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>Total Investments (Cost - $287,352,593*) - 161.2%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">281,491,598</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2"><b>Liabilities in Excess of Other Assets - (0.5)%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">(850,906</font></p>
                </td>

                <td valign="bottom">
                    <p><font size="2">)</font></p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>Liability for Trust Certificates, Including Interest Expense<br>
                    and Fees Payable - (6.6)%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">(11,553,418</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2"><b>Preferred Shares, at Redemption Value - (54.1)%</b></font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">(94,506,066</font></p>
                </td>

                <td valign="bottom">
                    <p><font size="2">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p><font size="2"><b>Net Assets Applicable to Common Shares - 100.0%</b></font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="top">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">174,581,208</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="7%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="3%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="90%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right"><font size="2">*</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">The cost and unrealized appreciation (depreciation) of investments as of October 31, 2009, as computed for federal income tax purposes, were as follows:</font></p>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="70%">
            <tr style="FONT-SIZE: 1px">
                <td valign="bottom" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="43%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="3%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="12%">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">Aggregate cost</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">274,392,731</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">Gross unrealized appreciation</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">9,095,562</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">Gross unrealized depreciation</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">(13,546,508</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">Net unrealized depreciation</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">(4,450,946</font></p>
                </td>

                <td valign="bottom">
                    <p><font size="2">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="7%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="3%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="90%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right"><font size="2">(a)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right"><font size="2">(b)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Non-income producing security.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right"><font size="2">(c)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Issuer filed for bankruptcy and/or is in default of interest payments.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right"><font size="2">(d)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Represents a step-up bond. Rate shown reflects the effective yield at the time of purchase. </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right"><font size="2">(e)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">When-issued security.</font></p>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="75%">
            <tr style="FONT-SIZE: 1px">
                <td valign="bottom" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="30%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="5%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="10%">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="12%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="10%">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="1"><b>Counterparty</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Market Value</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Unrealized<br>
                    Appreciation<br>
                    (Depreciation)</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr bgcolor="#e6e6e6">
                <td bgcolor="white" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">JPMorgan Chase</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">4,102,143</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">6,078</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">Merrill Lynch &amp; Co.</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">945,250</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">(13,777</font></p>
                </td>

                <td valign="bottom">
                    <p><font size="2">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr bgcolor="#e6e6e6">
                <td bgcolor="white" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2"><b>Total</b> </font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">(7,699</font></p>
                </td>

                <td valign="bottom">
                    <p><font size="2">)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="7%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="3%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="90%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right"><font size="2">(f)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right"><font size="2">(g)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Security represents a beneficial interest in a trust. The collateral deposited into the trust is federally tax-exempt revenue bonds issued by various state or local governments, or their respective agencies or authorities. The security is subject to remarketing prior to its stated maturity, and is subject to mandatory redemption at maturity.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right"><font size="2">(h)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Represents a zero-coupon bond. Rate shown is as of report date.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right"><font size="2">(i)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired the residual interest certificates. These securities serve as collateral in a financing transaction.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right"><font size="2">(j)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:</font></p>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="75%">
            <tr style="FONT-SIZE: 1px">
                <td valign="bottom" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="34%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="3%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="10%">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="5%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="10%">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="1"><b>Affiliate</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Net Activity</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Income</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">CMA New York Municipal Money Fund</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">500,249</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">280</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="7%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="3%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="90%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="right"><font size="2">(k)</font></p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Represents the current yield as of report date.</font></p>
                </td>
            </tr>
        </table>

        <p align="center"><font size="2">7</font></p>
        <hr align="center" size="4" width="100%" noshade>

        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE><br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="100%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="3"><b>BlackRock New York Municipal Income Trust (BNY)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2"><b>Schedule of Investments October 31, 2009 (Unaudited)</b></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>
        </table>
        <br>

        <table style="MARGIN-LEFT: 5%" border="0" cellspacing="0" cellpadding="0" width="95%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="5%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="10%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="80%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2">&bull;</font></p>
                </td>

                <td valign="top" colspan="2">
                    <p><font size="2">Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as follows:</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p align="center"><font size="2">&bull;</font></p>
                </td>

                <td valign="top">
                    <p><font size="2">Level 1 - price quotations in active markets/exchanges for identical assets and liabilities</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p align="center"><font size="2">&bull;</font></p>
                </td>

                <td valign="top">
                    <p><font size="2">Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other
                    market-corroborated inputs)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p align="center"><font size="2">&bull;</font></p>
                </td>

                <td valign="top">
                    <p><font size="2">Level 3 - unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust&rsquo;s own assumptions used in determining the fair value of investments)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <p><font size="2">The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust&rsquo;s policy regarding valuation of investments and other significant accounting policies, please refer to Trust&rsquo;s most recent financial statements as contained in its annual report.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <p><font size="2">The following table summarizes the inputs used as of October 31, 2009 in determining the fair valuation of the Trust&rsquo;s investments:</font></p>
                </td>
            </tr>
        </table>
        <br>

        <table style="MARGIN-LEFT: 10%" border="0" cellspacing="0" cellpadding="0" width="70%">
            <tr style="FONT-SIZE: 1px">
                <td valign="bottom" width="53%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="3%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom" width="12%">
                    <p align="right">&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p><font size="1"><b>Valuation Inputs</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Investments in<br>
                    Securities</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom" colspan="2">
                    <p align="center"><font size="1"><b>Assets</b></font></p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="center">&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="black" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">Level 1 - Short-Term Investments</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">3,735,772</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p><font size="2">Level 2 - Long-Term Investments<sup>1</sup></font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">277,755,826</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td bgcolor="#e6e6e6" valign="bottom">
                    <p><font size="2">Level 3</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p align="right"><font size="2">&mdash;</font></p>
                </td>

                <td bgcolor="#e6e6e6" valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="1" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p><font size="2"><b>Total</b></font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p><font size="2">$</font></p>
                </td>

                <td valign="bottom">
                    <p align="right"><font size="2">281,491,598</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>

                <td valign="top">
                    <hr align="center" color="gray" size="3" width="100%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">
                    <p><font size="2"><sup>1</sup> See above Schedule of Investments for values in each sector.</font></p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>
        </table>

        <p align="center"><font size="2">8</font></p>
        <!-- end -->
        <hr style="MARGIN-TOP: -10px" size="4" width="100%" noshade>

        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="7%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="93%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" colspan="2">
                    <p><font size="2">Item 2 &ndash; Controls and Procedures</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2">2(a) &ndash;</font></p>
                </td>

                <td valign="top">
                    <p><font size="2">The registrant&rsquo;s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant&rsquo;s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the &ldquo;1940 Act&rdquo;)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b)
                    under the 1940 Act and Rule 13(a)-15(b) under the Securities Exchange Act of 1934, as amended.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font size="2">2(b) &ndash;</font></p>
                </td>

                <td valign="top">
                    <p><font size="2">There were no changes in the registrant&rsquo;s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant&rsquo;s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting.</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" colspan="2">
                    <p><font size="2">Item 3 &ndash; Exhibits</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Certifications &ndash; Attached hereto</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">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>
                </td>
            </tr>
        </table>
        <br>

        <table border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr style="FONT-SIZE: 1px">
                <td valign="top" width="9%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="7%">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" width="85%">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <p><font size="2">BlackRock New York Municipal Income Trust</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">By:</font></p>
                </td>

                <td valign="top">
                    <p><font size="2">/s/ Anne F. Ackerley</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="left" color="gray" size="1" width="40%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Anne F. Ackerley</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Chief Executive Officer of</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">BlackRock New York Municipal Income Trust</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <p><font size="2">Date: December 18, 2009</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <p><font size="2">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>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">By:</font></p>
                </td>

                <td valign="top">
                    <p><font size="2">/s/ Anne F. Ackerley</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="left" color="gray" size="1" width="40%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Anne F. Ackerley</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Chief Executive Officer (principal executive officer) of</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">BlackRock New York Municipal Income Trust</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <p><font size="2">Date: December 18, 2009</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">By:</font></p>
                </td>

                <td valign="top">
                    <p><font size="2">/s/ Neal J. Andrews</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <hr align="left" color="gray" size="1" width="40%" noshade>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Neal J. Andrews</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">Chief Financial Officer (principal financial officer) of</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p><font size="2">BlackRock New York Municipal Income Trust</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>&nbsp;</p>
                </td>

                <td valign="top" colspan="2">
                    <p><font size="2">Date: December 18, 2009</font></p>
                </td>
            </tr>
        </table>
        <br>
        <hr align="center" size="4" width="100%" noshade>
    </body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>i00494_ex99-cert.htm
<TEXT>
<HTML>
<HEAD><TITLE></TITLE></HEAD>
<BODY>


<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="100%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2><B>EX-99. CERT</B></FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2><B>CERTIFICATION
 PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE
 SARBANES-OXLEY ACT OF 2002</B></FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>

 <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=gray ALIGN=CENTER>

 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="6%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="94%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>I, Anne F. Ackerley, Chief Executive Officer
 (principal executive officer) of BlackRock New York Municipal Income Trust, certify
 that:</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this report on Form N-Q of BlackRock New York Municipal Income Trust;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, this report does not
 contain any untrue statement of a material fact or omit to state a material
 fact necessary to make the statements made, in light of the circumstances
 under which such statements were made, not misleading with respect to the
 period covered by this report; </FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, the schedules of
 investments included in this report fairly present in all material respects
 the investments of the registrant as of the end of the fiscal quarter for
 which the report is filed;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;s other certifying officer(s) and
 I are responsible for establishing and maintaining disclosure controls and
 procedures (as defined in Rule 30a-3(c) under the Investment Company Act of
 1940) and internal control over financial reporting (as defined in Rule
 30a-3(d) under the Investment Company Act of 1940) for the registrant and
 have:</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;designed such disclosure controls and procedures,
 or caused such disclosure controls and procedures to be designed under our
 supervision, to ensure that material information relating to the registrant,
 including its consolidated subsidiaries, is made known to us by others within
 those entities, particularly during the period in which this report is being
 prepared;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;designed such internal control over financial
 reporting, or caused such internal control over financial reporting to be
 designed under our supervision, to provide reasonable assurance regarding the
 reliability of financial reporting and the preparation of financial
 statements for external purposes in accordance with generally accepted
 accounting principles;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;evaluated the effectiveness of the registrant&#146;s
 disclosure controls and procedures and presented in this report our
 conclusions about the effectiveness of the disclosure controls and
 procedures, as of a date within 90 days prior to the filing date of this
 report, based on such evaluation; and</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;disclosed in this report any change in the registrant&#146;s
 internal control over financial reporting that occurred during the registrant&#146;s
 most recent fiscal quarter that has materially affected, or is reasonably
 likely to materially affect, the registrant&#146;s internal control over financial
 reporting; and</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;s other certifying officer(s) and
 I have disclosed to the registrant&#146;s auditors and the audit committee of the registrant&#146;s
 board of directors (or persons performing the equivalent functions):</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all significant deficiencies and material
 weaknesses in the design or operation of internal control over financial
 reporting which are reasonably likely to adversely affect the registrant&#146;s
 ability to record, process, summarize, and report financial information; and</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any fraud, whether or not material, that involves
 management or other employees who have a significant role in the registrant&#146;s
 internal control over financial reporting.</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="40%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="60%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Date: December 18, 2009</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
<TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>/s/ Anne F. Ackerley</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>

 <HR SIZE="1" WIDTH="50%" NOSHADE COLOR="gray" ALIGN="LEFT">

 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Anne F. Ackerley</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR >
 <TD VALIGN=TOP colspan=2>
 <P><FONT SIZE=2>Chief Executive Officer (principal executive
 officer) of<BR>BlackRock New York Municipal Income Trust</FONT></P>
 </TD>

 </TR>
</TABLE>

<BR>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4><P ALIGN=LEFT STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>


<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="100%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2><B>EX-99. CERT</B></FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2><B>CERTIFICATION
 PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE
 SARBANES-OXLEY ACT OF 2002</B></FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>

 <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="6%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="94%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>I, Neal J. Andrews, Chief Financial Officer
 (principal financial officer) of BlackRock New York Municipal Income Trust, certify
 that:</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this report on Form N-Q of BlackRock New York Municipal Income Trust;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, this report does not
 contain any untrue statement of a material fact or omit to state a material
 fact necessary to make the statements made, in light of the circumstances
 under which such statements were made, not misleading with respect to the
 period covered by this report; </FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, the schedules of
 investments included in this report fairly present in all material respects
 the investments of the registrant as of the end of the fiscal quarter for
 which the report is filed;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;s other certifying officer(s) and
 I are responsible for establishing and maintaining disclosure controls and
 procedures (as defined in Rule 30a-3(c) under the Investment Company Act of
 1940) and internal control over financial reporting (as defined in Rule
 30a-3(d) under the Investment Company Act of 1940) for the registrant and
 have:</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;designed such disclosure controls and procedures,
 or caused such disclosure controls and procedures to be designed under our
 supervision, to ensure that material information relating to the registrant,
 including its consolidated subsidiaries, is made known to us by others within
 those entities, particularly during the period in which this report is being
 prepared;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;designed such internal control over financial
 reporting, or caused such internal control over financial reporting to be
 designed under our supervision, to provide reasonable assurance regarding the
 reliability of financial reporting and the preparation of financial
 statements for external purposes in accordance with generally accepted
 accounting principles;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;evaluated the effectiveness of the registrant&#146;s
 disclosure controls and procedures and presented in this report our
 conclusions about the effectiveness of the disclosure controls and
 procedures, as of a date within 90 days prior to the filing date of this
 report, based on such evaluation; and</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;disclosed in this report any change in the registrant&#146;s
 internal control over financial reporting that occurred during the registrant&#146;s
 most recent fiscal quarter that has materially affected, or is reasonably
 likely to materially affect, the registrant&#146;s internal control over financial
 reporting; and</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#146;s other certifying officer(s) and
 I have disclosed to the registrant&#146;s auditors and the audit committee of the registrant&#146;s
 board of directors (or persons performing the equivalent functions):</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all significant deficiencies and material
 weaknesses in the design or operation of internal control over financial
 reporting which are reasonably likely to adversely affect the registrant&#146;s
 ability to record, process, summarize, and report financial information; and</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any fraud, whether or not material, that involves
 management or other employees who have a significant role in the registrant&#146;s
 internal control over financial reporting.</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="40%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="60%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Date: December 18, 2009 </FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
<TR>
 <TD VALIGN=TOP>
<P><FONT SIZE=2>/s/ Neal J. Andrews</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>

 <HR SIZE="1" WIDTH="50%" NOSHADE COLOR="gray" ALIGN="LEFT">

 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Neal J. Andrews</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP COLSPAN=2>
 <P><FONT SIZE=2>Chief Financial Officer (principal financial
 officer) of<BR>BlackRock New York Municipal Income Trust</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4>



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