Item 1. Schedule of Investments | ||||||||
Item 2. Controls and Procedures | ||||||||
Signatures | ||||||||
EX-99.CERT Section 302 Certifications |
Eaton Vance Pennsylvania Municipal Income Trust | as of February 28, 2009 |
Principal |
||||||||
Amount |
||||||||
(000s omitted) | Security | Value | ||||||
Bond Bank 3.3%
|
||||||||
$ | 1,000 |
Delaware Valley Regional Finance Authority, 5.75%, 7/1/32
|
$ | 1,055,640 | ||||
$ | 1,055,640 | |||||||
Cogeneration 5.0%
|
||||||||
$ | 315 |
Carbon County Industrial Development Authority, (Panther Creek
Partners), (AMT), 6.65%, 5/1/10
|
$ | 319,835 | ||||
500 |
Pennsylvania Economic Development Financing Authority,
(Northampton Generating), (AMT), 6.50%, 1/1/13
|
399,130 | ||||||
500 |
Pennsylvania Economic Development Financing Authority,
(Northampton Generating), (AMT), 6.60%, 1/1/19
|
370,675 | ||||||
625 |
Pennsylvania Economic Development Financing Authority, (Resource
Recovery-Colver), (AMT), 5.125%, 12/1/15
|
496,756 | ||||||
$ | 1,586,396 | |||||||
Electric Utilities 3.2%
|
||||||||
$ | 600 |
Pennsylvania Economic Development Financing Authority, (Reliant
Energy, Inc.), (AMT), 6.75%, 12/1/36
|
$ | 479,406 | ||||
600 |
York County Industrial Development Authority, (Public Service
Enterprise Group, Inc.), 5.50%, 9/1/20
|
529,008 | ||||||
$ | 1,008,414 | |||||||
Escrowed/Prerefunded 4.3%
|
||||||||
$ | 600 |
Allegheny County Industrial Development Authority, (Residential
Resources, Inc.), Prerefunded to 9/1/11, 6.50%, 9/1/21
|
$ | 674,532 | ||||
600 |
Bucks County Industrial Development Authority, (Pennswood),
Prerefunded to 10/1/12, 6.00%, 10/1/27
|
693,060 | ||||||
$ | 1,367,592 | |||||||
General Obligations 8.0%
|
||||||||
$ | 500 |
Chester County, 5.00%,
7/15/27(1)
|
$ | 523,915 | ||||
1,000 |
Daniel Boone Area School District, 5.00%, 8/15/32
|
982,360 | ||||||
1,000 |
Philadelphia School District, 6.00%, 9/1/38
|
1,047,200 | ||||||
$ | 2,553,475 | |||||||
Health Care-Miscellaneous 0.2%
|
||||||||
$ | 100 |
Puerto Rico Infrastructure Financing Authority, (Mepsi Campus
Project), 6.50%, 10/1/37
|
$ | 72,690 | ||||
$ | 72,690 | |||||||
Hospital 14.3%
|
||||||||
$ | 1,250 |
Lehigh County General Purpose Authority, (Lehigh Valley Health
Network), 5.25%, 7/1/32
|
$ | 1,054,925 | ||||
1,500 |
Monroe County Hospital Authority, (Pocono Medical Center),
5.25%, 1/1/43
|
1,082,175 | ||||||
1,000 |
Pennsylvania Higher Educational Facilities Authority,
(University of Pennsylvania Health System), 6.00%,
8/15/26(2)
|
1,052,720 | ||||||
850 |
Pennsylvania Higher Educational Facilities Authority, (UPMC
Health System), 6.00%, 1/15/31
|
859,435 | ||||||
500 |
Washington County Hospital Authority, (Monongahela Hospital),
5.50%, 6/1/17
|
507,815 | ||||||
$ | 4,557,070 | |||||||
Housing 16.2%
|
||||||||
$ | 515 |
Allegheny County Residential Finance Authority, (Single Family
Mortgages), (AMT), 4.95%, 11/1/37
|
$ | 432,275 | ||||
1,170 |
Allegheny County Residential Finance Authority, (Single Family
Mortgages), (AMT), 5.00%, 5/1/35
|
1,060,687 | ||||||
990 |
Pennsylvania Housing Finance Agency, (AMT), 4.70%, 10/1/37
|
811,533 | ||||||
1,200 |
Pennsylvania Housing Finance Agency, (AMT), 4.875%, 4/1/26
|
1,102,536 | ||||||
1,000 |
Pennsylvania Housing Finance Agency, (AMT), 4.90%, 10/1/37
|
863,830 | ||||||
1,000 |
Pennsylvania Housing Finance Agency, (AMT), 5.15%, 10/1/37
|
885,640 | ||||||
$ | 5,156,501 | |||||||
Principal |
||||||||
Amount |
||||||||
(000s omitted) | Security | Value | ||||||
Industrial Development Revenue 7.9%
|
||||||||
$ | 500 |
New Morgan Industrial Development Authority, (Browning-Ferris
Industries, Inc.), (AMT), 6.50%, 4/1/19
|
$ | 465,830 | ||||
1,000 |
Pennsylvania Economic Development Financing Authority,
(Procter & Gamble Paper Products Co.), (AMT), 5.375%,
3/1/31
|
964,380 | ||||||
500 |
Pennsylvania Economic Development Financing Authority, Solid
Waste Disposal, (Waste Management, Inc.), (AMT), 5.10%, 10/1/27
|
398,705 | ||||||
1,550 |
Puerto Rico Port Authority, (American Airlines), (AMT), 6.25%,
6/1/26
|
691,238 | ||||||
$ | 2,520,153 | |||||||
Insured-Education 26.6%
|
||||||||
$ | 500 |
Lycoming County Authority, (Pennsylvania College of Technology),
(AGC), 5.50%, 10/1/37
|
$ | 502,815 | ||||
1,900 |
Lycoming County Authority, (Pennsylvania College of Technology),
(AMBAC), 5.25%, 5/1/32
|
1,675,173 | ||||||
1,115 |
Pennsylvania Higher Educational Facilities Authority, (Drexel
University), (MBIA), 5.00%, 5/1/37
|
1,066,252 | ||||||
2,000 |
Pennsylvania Higher Educational Facilities Authority, (State
System Higher Education), (FSA), 5.00%, 6/15/24
|
2,001,320 | ||||||
1,000 |
Pennsylvania Higher Educational Facilities Authority, (Temple
University), (MBIA), 5.00%, 4/1/33
|
958,080 | ||||||
500 |
Pennsylvania Higher Educational Facilities Authority,
(University of the Sciences in Philadelphia), (AGC), 5.00%,
11/1/37
|
490,995 | ||||||
500 |
State Public School Building Authority, (Delaware County
Community College), (FSA), 5.00%, 10/1/27
|
509,120 | ||||||
375 |
State Public School Building Authority, (Delaware County
Community College), (FSA), 5.00%, 10/1/29
|
378,255 | ||||||
875 |
State Public School Building Authority, (Delaware County
Community College), (FSA), 5.00%, 10/1/32
|
872,559 | ||||||
$ | 8,454,569 | |||||||
Insured-Electric Utilities 1.7%
|
||||||||
$ | 630 |
Lehigh County Industrial Development Authority, (PPL Electric
Utilities Corp.), (FGIC), (MBIA), 4.75%, 2/15/27
|
$ | 533,049 | ||||
$ | 533,049 | |||||||
Insured-Escrowed/Prerefunded 19.9%
|
||||||||
$ | 650 |
Berks County Municipal Authority, (Reading Hospital and Medical
Center), (FSA), Prerefunded to 11/1/09, 6.00%, 11/1/29
|
$ | 684,730 | ||||
1,600 |
Pennsylvania Turnpike Commission, Oil Franchise Tax, (AMBAC),
Escrowed to Maturity, 4.75%, 12/1/27
|
1,600,304 | ||||||
2,500 |
Puerto Rico Electric Power Authority, (FSA), Prerefunded to
7/1/10, 5.25%,
7/1/29(2)
|
2,672,645 | ||||||
2,000 |
Westmoreland Municipal Authority, (FGIC), Escrowed to Maturity,
0.00%, 8/15/19
|
1,351,760 | ||||||
$ | 6,309,439 | |||||||
Insured-General Obligations 2.6%
|
||||||||
$ | 500 |
Beaver County, (FSA), 5.55%, 11/15/31
|
$ | 515,630 | ||||
300 |
West Mifflin Area School District, (FSA), 5.125%, 4/1/31
|
300,549 | ||||||
$ | 816,179 | |||||||
Insured-Hospital 14.2%
|
||||||||
$ | 500 |
Delaware County General Authority, (Catholic Health East),
(AMBAC), 4.875%, 11/15/26
|
$ | 414,280 | ||||
1,440 |
Lehigh County General Purpose Authority, (Lehigh Valley Health
Network), (FSA), 5.00%,
7/1/35(2) |
1,225,246 | ||||||
1,500 |
Lehigh County General Purpose Authority, (Lehigh Valley Health
Network), (MBIA), 5.25%, 7/1/29
|
1,247,100 | ||||||
2,000 |
Montgomery County Higher Education and Health Authority,
(Abington Memorial Hospital), (AMBAC), 5.00%, 6/1/28
|
1,633,060 | ||||||
$ | 4,519,686 | |||||||
Insured-Lease Revenue/Certificates of
Participation 6.3%
|
||||||||
$ | 1,195 |
Philadelphia Authority for Industrial Development, (One Benjamin
Franklin), (FSA), 4.75%, 2/15/27
|
$ | 1,175,127 | ||||
750 |
Puerto Rico Public Finance Corp., (AMBAC), Escrowed to Maturity,
5.50%, 8/1/27
|
819,022 | ||||||
$ | 1,994,149 | |||||||
Principal |
||||||||
Amount |
||||||||
(000s omitted) | Security | Value | ||||||
Insured-Special Tax Revenue 6.2%
|
||||||||
$ | 1,000 |
Pittsburgh and Allegheny County Public Auditorium Authority,
(AMBAC), 5.00%, 2/1/24
|
$ | 967,280 | ||||
9,870 |
Puerto Rico Sales Tax Financing, (AMBAC), 0.00%, 8/1/54
|
391,839 | ||||||
1,690 |
Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/44
|
152,134 | ||||||
3,350 |
Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/45
|
280,663 | ||||||
2,100 |
Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/46
|
163,170 | ||||||
$ | 1,955,086 | |||||||
Insured-Transportation 13.0%
|
||||||||
$ | 1,000 |
Pennsylvania Turnpike Commission, (AGC), 5.00%, 6/1/38
|
$ | 1,000,660 | ||||
500 |
Philadelphia Airport Commission, (FSA), (AMT), 5.00%, 6/15/27
|
451,040 | ||||||
1,005 |
Philadelphia Parking Authority, (AMBAC), 5.25%, 2/15/29
|
949,182 | ||||||
1,800 |
Puerto Rico Highway and Transportation Authority, (AGC), (CIFG),
5.25%,
7/1/41(2)
|
1,742,787 | ||||||
$ | 4,143,669 | |||||||
Insured-Water and Sewer 7.1%
|
||||||||
$ | 275 |
Allegheny County Sanitation Authority, (BHAC), (MBIA), 5.00%,
12/1/22
|
$ | 288,541 | ||||
585 |
Chester County Industrial Development Authority, (Aqua
Pennsylvania, Inc.), (FGIC), (MBIA), (AMT), 5.00%, 2/1/40
|
455,809 | ||||||
875 |
Delaware County Industrial Development Authority, (Aqua
Pennsylvania, Inc.), (FGIC), (MBIA), (AMT), 5.00%, 11/1/36
|
690,559 | ||||||
500 |
Delaware County Industrial Development Authority, (Water
Facilities), (FGIC), (AMT), 6.00%, 6/1/29
|
475,780 | ||||||
360 |
Philadelphia Water and Wastewater Revenue, (FGIC), 5.00%, 11/1/31
|
331,556 | ||||||
$ | 2,242,245 | |||||||
Senior Living/Life Care 5.7%
|
||||||||
$ | 1,000 |
Cliff House Trust, (AMT), 6.625%,
6/1/27(3)
|
$ | 623,110 | ||||
500 |
Crawford County Hospital Authority, (Wesbury United Methodist
Community), 6.25%, 8/15/29
|
363,120 | ||||||
500 |
Lancaster County Hospital Authority, (Willow Valley Retirement
Communities), 5.875%, 6/1/31
|
448,065 | ||||||
200 |
Montgomery County Industrial Development Authority, (Foulkeways
at Gwynedd), 5.00%, 12/1/24
|
162,732 | ||||||
300 |
Montgomery County Industrial Development Authority, (Foulkeways
at Gwynedd), 5.00%, 12/1/30
|
227,832 | ||||||
$ | 1,824,859 | |||||||
Transportation 4.6%
|
||||||||
$ | 40 |
Erie Municipal Airport Authority, (AMT), 5.50%, 7/1/09
|
$ | 39,915 | ||||
485 |
Erie Municipal Airport Authority, (AMT), 5.875%, 7/1/16
|
429,633 | ||||||
270 |
Pennsylvania Economic Development Financing Authority, (Amtrak),
(AMT), 6.25%, 11/1/31
|
201,871 | ||||||
750 |
Pennsylvania Turnpike Commission, 5.625%, 6/1/29
|
778,710 | ||||||
$ | 1,450,129 | |||||||
Water and Sewer 4.3%
|
||||||||
$ | 750 |
Harrisburg Water Authority, 5.25%, 7/15/31
|
$ | 751,605 | ||||
750 |
Montgomery County Industrial Development Authority, (Aqua
Pennsylvania, Inc.), (AMT), 5.25%, 7/1/42
|
599,910 | ||||||
$ | 1,351,515 | |||||||
Total Tax-Exempt Investments 174.6%
(identified cost $60,618,837) |
$ | 55,472,505 | ||||||
Principal |
||||||||
Amount |
||||||||
(000s omitted) | Security | Value | ||||||
$ | 500 |
Harrisburg Authority, School Revenue, (AMBAC), (SPA: WestLB AG),
Variable Rate, 10.50%,
12/1/27(4)
|
$ | 500,000 | ||||
Total Short-Term Investments 1.6%
(identified cost $500,000) |
$ | 500,000 | ||||||
Total Investments 176.2%
(identified cost $61,118,837) |
$ | 55,972,505 | ||||||
Auction Preferred Shares Plus Cumulative Unpaid
Dividends (66.7)%
|
$ | (21,177,785 | ) | |||||
Other Assets, Less Liabilities (9.5)%
|
$ | (3,024,592 | ) | |||||
Net Assets Applicable to Common Shares 100.0%
|
$ | 31,770,128 | ||||||
AGC
|
- | Assured Guaranty Corp. | ||||
AMBAC
|
- | AMBAC Financial Group, Inc. | ||||
AMT
|
- | Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax. | ||||
BHAC
|
- | Berkshire Hathaway Assurance Corp. | ||||
CIFG
|
- | CIFG Assurance North America, Inc. | ||||
FGIC
|
- | Financial Guaranty Insurance Company | ||||
FSA
|
- | Financial Security Assurance, Inc. | ||||
MBIA
|
- | MBIA Insurance Corp. of Illinois | ||||
SPA
|
- | Standby Bond Purchase Agreement | ||||
The Trust invests primarily in debt securities issued by Pennsylvania municipalities. In addition, 12.5% of the Trusts total investments at February 28, 2009 were invested in municipal obligations issued by Puerto Rico. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at February 28, 2009, 56.2% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 0.5% to 19.3% of total investments. | ||||||
(1)
|
Security (or a portion thereof) has been segregated to cover margin requirements on open financial futures contracts. | |||||
(2)
|
Security represents the underlying municipal bond of a tender option bond trust. | |||||
(3)
|
Security is in default with respect to scheduled principal payments. | |||||
(4)
|
Variable rate demand obligation. The stated interest rate represents the rate in effect at February 28, 2009. |
Expiration |
Aggregate |
Net Unrealized |
||||||||||||||
Date | Contracts | Position | Cost | Value | Appreciation | |||||||||||
6/09
|
95 U.S. Treasury Bond | Short | $ | (12,032,011 | ) | $ | (11,717,656 | ) | $ | 314,355 |
Annual |
Floating |
Effective Date/ |
||||||||||||||
Notional |
Fixed Rate |
Rate |
Termination |
Net Unrealized |
||||||||||||
Counterparty | Amount | Paid By Trust | Paid To Trust | Date | Depreciation | |||||||||||
JPMorgan Chase Co.
|
$ | 912,500 | 4.743 | % |
3-month USD- LIBOR-BBA |
September 14, 2009/ September 14, 2039 |
$ | (202,521 | ) |
Aggregate cost
|
$ | 57,094,048 | ||
Gross unrealized appreciation
|
$ | 733,118 | ||
Gross unrealized depreciation
|
(5,889,661 | ) | ||
Net unrealized depreciation
|
$ | (5,156,543 | ) | |
| Level 1 quoted prices in active markets for identical investments | |
| Level 2 other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) | |
| Level 3 significant unobservable inputs (including a funds own assumptions in determining the fair value of investments) |
Investments in |
Other Financial |
|||||||||
Valuation Inputs | Securities | Instruments* | ||||||||
Level 1
|
Quoted Prices | $ | | $ | 314,355 | |||||
Level 2
|
Other Significant Observable Inputs | 55,972,505 | (202,521 | ) | ||||||
Level 3
|
Significant Unobservable Inputs | | | |||||||
Total
|
$ | 55,972,505 | $ | 111,834 | ||||||
* | Other financial instruments are futures and swap contracts not reflected in the Portfolio of Investments, which are valued at the unrealized appreciation (depreciation) on the instrument. |
By:
|
/s/ Cynthia J. Clemson | |||
Cynthia J. Clemson | ||||
President | ||||
Date:
|
April 16, 2009 |
By:
|
/s/ Cynthia J. Clemson | |||
Cynthia J. Clemson | ||||
President | ||||
Date:
|
April 16, 2009 |
By:
|
/s/ Barbara E. Campbell | |||
Barbara E. Campbell | ||||
Treasurer | ||||
Date:
|
April 16, 2009 |