Regulatory Filings • Jun 28, 2010
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-10331
Name of Fund: BlackRock California Municipal Income Trust (BFZ)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock California Municipal Income Trust, 55 East 52 nd Street, New York, NY 10055.
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 07/31/2010
Date of reporting period: 04/30/2010
Item 1 Schedule of Investments
insert
| Schedule of Investments April 30, 2010 (Unaudited) |
|---|
| (Percentages shown are based on Net Assets) |
| Municipal Bonds | Par (000) | Value |
|---|---|---|
| California 111.0% | ||
| Corporate 1.0% | ||
| California Pollution Control Financing Authority, RB, Waste Management Inc. Project, Series C, AMT, 6.75%, 12/01/27 | $ 3,700 | $ 3,791,057 |
| City of Chula Vista California, Refunding RB, San Diego Gas & Electric, Series A, 5.88%, 2/15/34 | 680 | 749,605 |
| 4,540,662 | ||
| County/City/Special District/School District 38.0% | ||
| Benicia Unified School District, GO, CAB, Series B (NPFGC), 5.54%, 8/01/23 (a) | 6,500 | 3,038,100 |
| Butte-Glenn Community College District, GO, Election of 2002, Series C, 5.50%, 8/01/30 | 7,925 | 8,625,174 |
| California State Department of Water Resources, Refunding RB, Water System, Series AF, 5.00%, 12/01/29 | 2,500 | 2,687,600 |
| California State Public Works Board, RB, Various Capital Projects, Sub-Series I-1, 6.63%, 11/01/34 | 1,650 | 1,801,272 |
| Central Unified School District, GO, Election of 2008, Series A (AGC), 5.63%, 8/01/33 | 400 | 428,712 |
| Cerritos Community College District, GO, Election of 2004, Series C, 5.25%, 8/01/31 | 3,000 | 3,138,480 |
| Chabot-Las Positas Community College District California, GO, Election of 2004, Series B (AMBAC), 5.00%, 8/01/31 | 2,500 | 2,549,550 |
| City & County of San Francisco California, COP, Multiple Capital Improvement Projects, Series A, 5.00%, 4/01/29 | 3,035 | 3,060,949 |
| Corona-Norca Unified School District California, Special Tax Bonds, Community Facilities District No. 98- 1 (AMBAC), 5.10%, 9/01/32 | 6,000 | 5,797,800 |
| County of Kern California, COP, Capital Improvements Projects, Series A (AGC), 6.00%, 8/01/35 | 1,500 | 1,663,470 |
| Elk Grove Unified School District California, Special Tax Bonds, CAB, Community Facilities No. 1 (AMBAC) (a): | ||
| 5.60%, 12/01/29 | 7,485 | 2,183,524 |
| Municipal
Bonds | Par (000) | Value |
| --- | --- | --- |
| California (continued) | | |
| County/City/Special District/School District (continued) | | |
| Elk Grove Unified School District California, Special Tax Bonds, CAB, Community Facilities No. 1 (AMBAC) (a) (concluded): | | |
| 5.60%, 12/01/30 | $ 7,485 | $ 2,025,965 |
| 5.60%, 12/01/31 | 7,485 | 1,889,513 |
| Evergreen Elementary School District, GO, Election of 2006, Series B (AGC), 5.13%, 8/01/33 | 2,500 | 2,586,400 |
| Glendale Community College District California, GO, Election of 2002, Series D (NPFGC), 5.00%, 11/01/31 | 2,500 | 2,551,425 |
| Long Beach Unified School District California, GO, Refunding, Election of 2008, Series A, 5.75%, 8/01/33 | 4,135 | 4,528,900 |
| Los Alamitos Unified School District California, GO, School Facilities Improvement District No. 1, 5.50%, 8/01/33 | 5,125 | 5,480,573 |
| Los Angeles Municipal Improvement Corp., Refunding RB, Real Property, Series B (AGC), 5.50%, 4/01/30 | 2,580 | 2,754,047 |
| Modesto Irrigation District, COP Capital Improvements, Series A: | | |
| 5.75%, 10/01/29 | 3,000 | 3,256,830 |
| 5.75%, 10/01/34 | 100 | 106,823 |
| Series B, 5.50%, 7/01/35 | 5,700 | 6,017,889 |
| Murrieta Valley Unified School District Public Financing Authority, Special Tax Bonds, Refunding, Series A (AGC), 5.13%, 9/01/26 | 1,000 | 1,052,070 |
| Oak Grove School District California, GO, Election of 2008, Series A, 5.50%, 8/01/33 | 6,000 | 6,412,080 |
| Orange County Water District, COP, Refunding, 5.25%, 8/15/34 | 2,000 | 2,124,040 |
| Peralta Community College District California, GO, Election of 2006, Series C, 5.00%, 8/01/39 | 7,500 | 7,627,275 |
| Pittsburg Redevelopment Agency, Tax Allocation Bonds, Refunding, Subordinate, Los Medanos Community Project, Series A, 6.50%, 9/01/28 | 5,500 | 6,076,070 |
Portfolio Abbreviations
To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:
| AGC | Assured Guaranty Corp. |
|---|---|
| AGM | Assured Guaranty Municipal |
| Corp. | |
| AMBAC | American Municipal Bond |
| Assurance Corp. | |
| AMT | Alternative Minimum Tax |
| (subject to) | |
| CAB | Capital Appreciation Bonds |
| COP | Certificates of |
| Participation | |
| GO | General Obligation Bonds |
| LRB | Lease Revenue Bonds |
| M/F | Multi-Family |
| NPFGC | National Public Finance |
| Guarantee Corp. | |
| RB | Revenue Bonds |
BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST APRIL 30, 2010 1
| Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
| Municipal Bonds | Par (000) | Value |
|---|---|---|
| California | ||
| (continued) | ||
| County/City/Special District/School District | ||
| (concluded) | ||
| Pittsburg Unified School District, GO, Election of 2006, Series B (AGM), 5.50%, 8/01/34 | $ 2,000 | $ 2,116,660 |
| Port of Oakland, Refunding RB, Series M, AMT (NPFGC), 5.38%, 11/01/27 | 3,300 | 3,232,251 |
| San Bernardino Community College District California, GO, Election of 2002, Series C (AGM), 5.00%, 8/01/31 | 2,000 | 2,047,260 |
| San Diego Community College District California, GO: | ||
| 5.25%, 8/01/33 | 1,000 | 1,050,000 |
| Election of 2002 (AGM), 5.00%, 5/01/25 | 10,615 | 11,225,150 |
| San Diego Regional Building Authority California, RB, County Operations Center & Annex, Series A, 5.38%, 2/01/36 | 6,500 | 6,868,745 |
| San Jose Financing Authority, Refunding RB, Civic Center Project, Series B (AMBAC), 5.00%, 6/01/37 | 6,000 | 6,017,400 |
| San Jose Unified School District Santa Clara County California, GO, Election of 2002, Series D, 5.00%, 8/01/32 | 5,625 | 5,762,138 |
| San Leandro Unified School District California, GO, Election of 2006, Series B (AGM), 6.25%, 8/01/29 | 1,125 | 1,284,356 |
| Santa Ana Unified School District, GO, Election of 2008, Series A: | ||
| 5.50%, 8/01/30 | 6,050 | 6,467,087 |
| 5.13%, 8/01/33 | 10,000 | 10,335,600 |
| Santa Cruz County Redevelopment Agency California, Tax Allocation Bonds, Live Oak/Soquel Community Improvement, Series A: | ||
| 6.63%, 9/01/29 | 1,000 | 1,085,760 |
| 7.00%, 9/01/36 | 1,700 | 1,885,402 |
| Snowline Joint Unified School District, COP, Refunding, Refining Project (AGC), 5.75%, 9/01/38 | 2,000 | 2,211,220 |
| Torrance Unified School District California, GO, Election of 2008, Measure Z, 6.00%, 8/01/33 | 4,000 | 4,433,720 |
| Val Verde Unified School District California, GO, Election of 2008, Series A, 5.50%, 8/01/33 | 6,615 | 6,982,331 |
| Westminster Redevelopment Agency California, Tax Allocation Bonds, Subordinate, Commercial Redevelopment Project No. 1 (AGC), 6.25%, 11/01/39 | 7,750 | 8,832,442 |
| 171,302,053 |
| Municipal
Bonds | Par (000) | Value |
| --- | --- | --- |
| California (continued) | | |
| Education 6.0% | | |
| California Educational Facilities Authority, RB: | | |
| 5.25%, 12/01/32 | $ 3,000 | $ 3,110,400 |
| Scripps College (NPFGC), 5.00%, 8/01/31 | 2,385 | 2,388,268 |
| University of San Diego, Series A, 5.25%, 10/01/30 | 2,250 | 2,268,698 |
| California Educational Facilities Authority, Refunding RB, Loyola Marymount University, Series A, 5.13%, 10/01/40 | 1,605 | 1,615,063 |
| Mount San Antonio Community College District California, GO, Election of 2001, Series D, 5.00%, 6/01/33 | 2,995 | 3,048,700 |
| Peralta Community College District California, GO, Election of 2006, Series C, 5.50%, 8/01/29 | 2,890 | 3,102,010 |
| University of California, RB, Limited Project, Series D: | | |
| (AGM), 5.00%, 5/15/41 | 2,600 | 2,633,800 |
| (NPFGC), 5.00%, 5/15/32 | 2,600 | 2,661,906 |
| (NPFGC), 5.00%, 5/15/37 | 1,385 | 1,401,357 |
| University of California, Refunding RB: | | |
| General, Series A (AMBAC), 5.00%, 5/15/33 | 2,185 | 2,228,132 |
| Series S, 5.00%, 5/15/40 | 2,500 | 2,578,850 |
| | | 27,037,184 |
| Health 15.4% | | |
| ABAG Finance Authority for Nonprofit Corps, Refunding RB, Sharp Healthcare: | | |
| 6.38%, 8/01/34 | 3,000 | 3,160,680 |
| 6.25%, 8/01/39 | 3,000 | 3,272,490 |
| California Health Facilities Financing Authority, RB: | | |
| Adventist Health System-West, Series A, 5.75%, 9/01/39 | 6,000 | 6,232,140 |
| Catholic Healthcare West, Series J, 5.63%, 7/01/32 | 1,475 | 1,512,376 |
| California Health Facilities Financing Authority, Refunding RB: | | |
| Catholic Healthcare West, Series A, 6.00%, 7/01/34 | 4,400 | 4,733,520 |
| Catholic Healthcare West, Series A, 6.00%, 7/01/39 | 500 | 535,995 |
| Catholic Healthcare West, Series E, 5.63%, 7/01/25 | 3,000 | 3,199,980 |
| Providence Health & Services, Series C, 6.50%, 10/01/38 | 1,165 | 1,316,287 |
| Scripps Health, Series A, 5.00%, 11/15/36 | 5,290 | 5,243,818 |
| California Infrastructure & Economic Development Bank, RB, Kaiser Hospital Assistance I-LLC, Series A, 5.55%, 8/01/31 | 15,260 | 15,411,990 |
2 BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST APRIL 30, 2010
| Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
| Municipal Bonds | Par (000) | Value |
|---|---|---|
| California | ||
| (continued) | ||
| Health (concluded) | ||
| California Statewide Communities Development Authority, RB: | ||
| Health Facility, Memorial Health Services, Series A, 5.50%, 10/01/33 | $ 7,000 | $ 7,105,070 |
| Kaiser Permanente, Series A, 5.50%, 11/01/32 | 10,000 | 10,125,600 |
| California Statewide Communities Development Authority, Refunding RB, Catholic Healthcare West: | ||
| Series B, 5.50%, 7/01/30 | 3,000 | 3,098,340 |
| Series E, 5.50%, 7/01/31 | 4,500 | 4,622,940 |
| 69,571,226 | ||
| State 10.0% | ||
| California State Public Works Board, RB: | ||
| Department of Education, Riverside Campus Project, Series B, 6.50%, 4/01/34 | 9,000 | 9,693,000 |
| Various Capital Projects, Sub-Series I-1, 6.38%, 11/01/34 | 2,475 | 2,651,591 |
| State of California, GO, Various Purpose: | ||
| 6.00%, 3/01/33 | 5,000 | 5,503,550 |
| 6.50%, 4/01/33 | 23,825 | 27,012,071 |
| 44,860,212 | ||
| Transportation 9.5% | ||
| County of Orange California, RB, Series B, 5.75%, 7/01/34 | 8,000 | 8,690,640 |
| County of Sacramento California, RB, Senior Series B, 5.75%, 7/01/39 | 1,850 | 1,989,471 |
| Foothill Eastern Transportation Corridor Agency California, RB, CAB, Senior Lien, Series A, 5.79%, 1/01/26 (a)(b) | 10,000 | 5,181,800 |
| Foothill Eastern Transportation Corridor Agency California, Refunding RB, CAB, 5.88%, 7/15/26 | 5,000 | 4,973,650 |
| Los Angeles Department of Airports, Refunding RB, Senior, Los Angeles International Airport, Series A, 5.00%, 5/15/40 | 4,880 | 4,972,525 |
| Port of Oakland, RB, Series K, AMT (NPFGC), 5.75%, 11/01/29 | 4,650 | 4,649,721 |
| San Francisco City & County Airports Commission, RB, Series E, 6.00%, 5/01/39 | 6,750 | 7,403,670 |
| San Joaquin Hills Transportation Corridor Agency California, Refunding RB, CAB, Series A (NPFGC) (a): | ||
| 5.50%, 1/15/31 | 10,000 | 1,931,500 |
| 5.51%, 1/15/34 | 20,000 | 3,044,200 |
| 42,837,177 |
| Municipal
Bonds | Par (000) | Value |
| --- | --- | --- |
| California (continued) | | |
| Utilities 31.1% | | |
| California Infrastructure & Economic Development Bank, RB, California Independent System Operator, Series A, 6.25%, 2/01/39 | $ 5,500 | $ 5,813,280 |
| Calleguas-Las Virgines Public Financing Authority California, RB, Calleguas Municipal Water District Project, Series A (NPFGC), 5.13%, 7/01/32 | 5,475 | 5,645,327 |
| City of Chula Vista California, Refunding RB, San Diego Gas & Electric: | | |
| Series D, 5.88%, 1/01/34 | 1,000 | 1,102,360 |
| Series E, 5.88%, 1/01/34 | 4,375 | 4,822,825 |
| City of Los Angeles California, Refunding RB (NPFGC): | | |
| Series A, 5.00%, 6/01/32 | 4,000 | 4,043,200 |
| Sub-Series A, 5.00%, 6/01/27 | 5,000 | 5,198,550 |
| City of Napa California, RB (AMBAC), 5.00%, 5/01/35 | 3,000 | 3,069,330 |
| East Bay Municipal Utility District, RB (NPFGC): | | |
| Series A, 5.00%, 6/01/37 | 4,000 | 4,174,280 |
| Sub-Series A, 5.00%, 6/01/35 | 3,000 | 3,103,230 |
| El Dorado Irrigation District & El Dorado Water Agency California, COP, Refunding, Series A, 5.75%, 3/01/24 | 5,000 | 5,577,400 |
| Los Angeles Department of Water & Power, RB: | | |
| Power System, Sub-Series A-1, 5.25%, 7/01/38 | 3,500 | 3,749,200 |
| Power System, Sub-Series A-1, (AMBAC), 5.00%, 7/01/37 | 16,000 | 16,435,200 |
| Series A, 5.38%, 7/01/34 | 3,000 | 3,240,180 |
| System, Sub-Series A-2 (AGM), 5.00%, 7/01/35 | 2,000 | 2,052,140 |
| Metropolitan Water District of Southern California, RB: | | |
| Series A, 5.00%, 7/01/37 | 11,180 | 11,678,852 |
| Series B-2 (NPFGC), 5.00%, 10/01/27 | 1,750 | 1,876,770 |
| Metropolitan Water District of Southern California, Refunding RB: | | |
| Series B, 5.00%, 7/01/28 | 1,000 | 1,084,870 |
| Series C, 5.00%, 7/01/29 | 4,235 | 4,557,199 |
| Series C, 5.00%, 7/01/35 | 3,500 | 3,697,435 |
| Orange County Sanitation District, COP, Series B (AGM), 5.00%, 2/01/37, | 14,700 | 15,270,360 |
| 5.00%, 5/01/33 | 10,040 | 10,353,850 |
| San Diego Public Facilities Financing Authority, Refunding RB: | | |
| Senior Series A, 5.25%, 5/15/34 | 9,500 | 10,067,720 |
| Senior Series A, 5.25%, 5/15/39 | 4,750 | 5,001,322 |
| Series A, 5.25%, 8/01/38 | 2,565 | 2,683,606 |
BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST APRIL 30, 2010 3
| Schedule of Investments (continued) |
|---|
| (Percentages shown are based on Net Assets) |
| Municipal Bonds | Par (000) | Value |
|---|---|---|
| California (concluded) | ||
| Utilities (concluded) | ||
| San Francisco City & County Public Utilities Commission, Refunding RB, Series A, 5.00%, 11/01/35 | $ 5,625 | $ 5,814,112 |
| 140,112,598 | ||
| Total Municipal Bonds in California | 500,261,112 | |
| Multi-State 5.5% | ||
| Diversified Financial Services 0.6% | ||
| MuniMae TE Bond Subsidiary LLC, 6.80%, 6/30/50 (c)(d) | 3,000 | 2,460,030 |
| Housing 4.9% | ||
| Centerline Equity Issuer Trust (c)(d): | ||
| 5.75%, 5/15/15 | 500 | 521,570 |
| 6.00%, 5/15/15 | 1,500 | 1,559,250 |
| 6.00%, 5/15/19 | 1,000 | 1,044,000 |
| 6.30%, 5/15/19 | 1,000 | 1,048,500 |
| 6.80%, 11/30/50 | 4,000 | 4,077,560 |
| 7.20%, 11/15/52 | 3,500 | 3,829,980 |
| M/F Housing Pass-Through Certificates, RB, AMT: | ||
| Series 3, Westgate Courtyards Apartments, 5.80%, 11/01/34 | 2,220 | 2,162,724 |
| Series 5, 5.95%, 11/01/34 | 2,075 | 2,056,512 |
| MuniMae TE Bond Subsidiary LLC, 6.30%, 6/30/49 (c)(d) | 6,269 | 5,814,145 |
| 22,114,241 | ||
| Total Municipal Bonds in Multi-State | 24,574,271 | |
| Puerto Rico 1.7% | ||
| County/City/Special District/School District 0.7% | ||
| Puerto Rico Sales Tax Financing Corp., RB, First Sub-Series A, 6.50%, 8/01/44 | 3,000 | 3,389,130 |
| State 1.0% | ||
| Commonwealth of Puerto Rico, GO, Refunding, Public improvement, Series B, 6.50%, 7/01/37 | 4,000 | 4,405,720 |
| Total Municipal Bonds in Puerto Rico | 7,794,850 | |
| Total Municipal Bonds 118.2% | 532,630,233 |
| Municipal Bonds Transferred to
Tender Option Bond Trusts (e) | | |
| --- | --- | --- |
| California 36.1% | | |
| County/City/Special District/School District 19.8% | | |
| Los Angeles Community College District California, GO, Series A: | | |
| Election of 2001 (AGM), 5.00%, 8/01/32 | 8,000 | 8,189,920 |
| Election of 2008, 6.00%, 8/01/33 | 20,131 | 22,573,244 |
| Municipal Bonds Transferred to
Tender Option Bond Trusts (Concluded) | Par (000) | Value |
| --- | --- | --- |
| California (concluded) | | |
| County/City/Special District/School District (concluded) | | |
| Los Angeles Unified School District California, GO, Series I, 5.00%, 1/01/34 | $ 5,000 | $ 5,088,000 |
| Mount San Antonio Community College District California, GO, Election of 2001, Series C (AGM), 5.00%, 9/01/31 | 10,770 | 11,027,618 |
| San Diego Community College District California, GO: | | |
| Election of 2002, 5.25%, 8/01/33 | 10,484 | 11,009,847 |
| Election of 2006 (AGM), 5.00%, 8/01/32 | 9,000 | 9,258,390 |
| Santa Clara County Financing Authority, Refunding LRB, Series L, 5.25%, 5/15/36 | 21,004 | 21,970,824 |
| | | 89,117,843 |
| Education 8.4% | | |
| California Educational Facilities Authority, RB: | | |
| Stanford University, Series Q, 5.25%, 12/01/32 | 10,000 | 10,368,182 |
| University of Southern California, Series A, 5.25%, 10/01/18 | 10,395 | 11,146,766 |
| California State University, RB, Systemwide, Series A (AGM), 5.00%, 11/01/39 | 2,400 | 2,426,808 |
| University of California, RB, Series O, 5.75%, 5/15/34 | 12,300 | 13,810,317 |
| | | 37,752,073 |
| Utilities 7.9% | | |
| California State Department of Water Resources, Refunding RB, Central Valley Project, Series AE, 5.00%, 12/01/29 | 7,000 | 7,499,310 |
| Eastern Municipal Water District, COP, Series H, 5.00%, 7/01/33 | 18,002 | 18,511,669 |
| San Diego County Water Authority, COP, Refunding: | | |
| Series 2008-A (AGM), 5.00%, 5/01/33 | 4,250 | 4,382,855 |
| Series A (NPFGC), 5.00%, 5/01/32 | 5,292 | 5,360,936 |
| | | 35,754,770 |
| Total Municipal Bonds in California | | 162,624,686 |
| Total
Municipal Bonds Transferred to Tender Option Bond Trusts 36.1% | | 162,624,686 |
| Total
Long-Term Investments (Cost $673,748,488) 154.3% | | 695,254,919 |
4 BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST APRIL 30, 2010
| Schedule of Investments (concluded) |
|---|
| (Percentages shown are based on Net Assets) |
| Short-Term Securities — CMA California Municipal Money Fund, 0.04% (f)(g) | Value — $ 7,851,040 | |
|---|---|---|
| Total | ||
| Short-Term Securities (Cost $7,851,040) 1.7% | 7,851,040 | |
| Total | ||
| Investments (Cost $681,599,528*) 156.0% | 703,105,959 | |
| Other | ||
| Assets Less Liabilities 2.2% | 9,862,746 | |
| Liability | ||
| for Trust Certificates, Including Interest Expense and Fees Payable (20.2)% | (91,046,786 | ) |
| Preferred | ||
| Shares, at Redemption Value (38.0)% | (171,341,592 | ) |
| Net Assets | ||
| Applicable to Common Shares 100.0% | $ 450,580,327 |
| Aggregate
cost | $ | |
| --- | --- | --- |
| Gross
unrealized appreciation | $ 28,222,384 | |
| Gross
unrealized depreciation | (6,146,498 | ) |
| Net
unrealized appreciation | $ 22,075,886 | |
| (a) | Represents a zero-coupon
bond. Rate shown reflects the current yield as of report date. |
| --- | --- |
| (b) | Security is collateralized
by Municipal or US Treasury obligations. |
| (c) | 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. |
| (d) | 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. |
| (e) | Securities represent bonds
transferred to a tender option bond trust in exchange for which the Trust acquired
residual interest certificates. These securities serve as collateral in a
financing transaction. |
| (f) | Investment in Companies considered to be an
affiliate of the Trust during the period, for purposes of Section 2(a)(3) of
the Investment Company Act of 1940 were as follows: |
| Affiliate — CMA California Municipal Money Fund | 3,630,796 | 4,220,244 | 7,851,040 | Income — $ 1,782 |
|---|---|---|---|---|
(g) Represents the current yield as of report date.
| | |
|---|---|
| | Level 1 price quotations |
| in active markets/exchanges for identical assets and liabilities | |
| | 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) | |
| | Level 3 unobservable |
| inputs based on the best information available in the circumstances, to the | |
| extent observable inputs are not available (including the Trusts own | |
| assumptions used in determining the fair value of investments) | |
| The inputs or methodologies | |
| used for valuing securities are not necessarily an indication of the risk | |
| associated with investing in those securities. For information about the | |
| Trusts policy regarding valuation of investments and other significant | |
| accounting policies, please refer to the Trusts most recent financial | |
| statements as contained in its annual report. | |
| The following table | |
| summarizes the inputs used as of April 30, 2010 in determining the fair | |
| valuation of the Trusts investments: |
| Investments
in Securities — Valuation Inputs | Level 1 | Level 2 | Level 3 | Total |
| --- | --- | --- | --- | --- |
| Assets: | | | | |
| Long-Term Investments 1 | | $ 695,254,919 | | $ 695,254,919 |
| Short-Term Securities | $ 7,851,040 | | | 7,851,040 |
| Total | $ 7,851,040 | $ 695,254,919 | | $ 703,105,959 |
1 See above Schedule of Investments for values in each sector.
BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST APRIL 30, 2010 5
end
| Item 2 | Controls and Procedures | |
|---|---|---|
| 2(a) | The registrant's principal executive and principal financial officers or persons performing similar functions have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the 1940 Act)) 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. | |
| 2(b) | There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. | |
| Item 3 | Exhibits | |
| Certifications Attached hereto | ||
| 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. | ||
| BlackRock California Municipal Income Trust | ||
| By: | /s/ Anne F. Ackerley | |
| Anne F. Ackerley | ||
| Chief Executive Officer of | ||
| BlackRock California Municipal Income Trust | ||
| Date: June 28, 2010 | ||
| 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. | ||
| By: | /s/ Anne F. Ackerley | |
| Anne F. Ackerley | ||
| Chief Executive Officer (principal executive officer) of | ||
| BlackRock California Municipal Income Trust | ||
| Date: June 28, 2010 | ||
| By: | /s/ Neal J. Andrews | |
| Neal J. Andrews | ||
| Chief Financial Officer (principal financial officer) of | ||
| BlackRock California Municipal Income Trust | ||
| Date: June 28, 2010 |
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