Eaton Vance Municipal Income Trust

Regulatory Filings • Oct 29, 2009

N-Q 1 b77767a1nvq.htm EATON VANCE MUNI INCOME TRUST Eaton Vance Muni Income Trust PAGEBREAK

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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 COMPANIES

811-09141

Investment Company Act File Number

Eaton Vance Municipal Income Trust

(Exact Name of Registrant as Specified in Charter)

Two International Place, Boston, Massachusetts 02110

(Address of Principal Executive Offices)

Maureen A. Gemma

Two International Place, Boston, Massachusetts 02110

(Name and Address of Agent for Services)

(617) 482-8260

(Registrant’s Telephone Number, Including Area Code)

November 30

Date of Fiscal Year End

August 31, 2009

Date of Reporting Period

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Item 2. Controls and Procedures
Signatures
EX-99.CERT Section 302 Certification

/TOC

Table of Contents

link2 "Item 1. Schedule of Investments"

Item 1. Schedule of Investments

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Eaton Vance Municipal Income Trust as of August 31, 2009

PORTFOLIO OF INVESTMENTS (Unaudited)

Tax-Exempt Investments — 185.7%

Principal
Amount
(000’s omitted)	Security	Value
Cogeneration — 1.9%
$ 2,950	Maryland Energy Cogeneration, (AES Warrior Run), (AMT),
7.40%, 9/1/19	$ 2,949,971
2,000	Pennsylvania Economic Development Financing Authority,
(Northampton Generating), (AMT), 6.50%, 1/1/13	1,381,880
		$ 4,331,851
Education — 12.1%
$ 9,000	California Educational Facilities Authority, (Stanford
University),
5.25%, 12/1/32 (1)	$ 9,262,440
2,010	Massachusetts Development Finance Agency, (Boston University),
5.45%, 5/15/59	2,014,703
1,000	Massachusetts Development Finance Agency, (Boston University),
6.00%, 5/15/59	1,076,650
500	Massachusetts Development Finance Agency, (New England
Conservatory of Music), 5.25%, 7/1/38	428,205
2,490	Massachusetts Health and Educational Facilities Authority,
(Harvard University),
5.00%, 10/1/38 (1)	2,597,510
10,500	New York Dormitory Authority, (Cornell University),
5.00%, 7/1/39 (1)	10,946,775
1,000	Rhode Island Health and Educational Building Corp., (University
of Rhode Island), 6.25%, 9/15/34	1,046,310
		$ 27,372,593
Electric Utilities — 3.5%
$ 1,300	Brazos River Authority, TX, Pollution Control Revenue, (Texas
Energy Co.), (AMT), 5.40%, 5/1/29	$ 550,901
4,865	Brazos River Authority, TX, Pollution Control Revenue, (Texas
Energy Co.), (AMT), 8.25%, 5/1/33	2,547,022
2,310	Hawaii Department of Budget and Finance, (Hawaiian Electric
Company), 6.50%, 7/1/39	2,422,589
2,935	Massachusetts Development Finance Agency, (Dominion Energy
Brayton Point), (AMT), 5.00%, 2/1/36	2,496,805
		$ 8,017,317
General Obligations — 4.1%
$ 1,000	Bryan, TX, Independent School District, 4.50%, 2/15/31	$ 1,003,380
500	Burleson, TX, Independent School District, 5.00%, 8/1/38	513,740
1,525	California, (AMT), 5.05%, 12/1/36	1,309,807
4,000	Michigan Municipal Bond Authority, 9.50%, 8/20/10	4,001,920
2,340	Port Authority of Houston, TX, (Harris County), (AMT),
5.625%, 10/1/38 (1)	2,347,313
		$ 9,176,160
Health Care-Miscellaneous — 1.7%
$ 1,865	New Jersey Health Care Facilities Financing Authority,
(Community Hospital Group, Inc.), 5.75%, 10/1/31	$ 1,971,603
117	Osceola County, FL, Industrial Development Authority, Community
Provider Pooled Loan, 7.75%, 7/1/17	113,112
200	Puerto Rico Infrastructure Financing Authority, (Mepsi Campus
Project), 6.50%, 10/1/37	166,722
333	Tax Revenue Exempt Securities Trust, Community Health Provider,
(Pooled Loan Program Various States Trust Certificates),
6.00%, 12/1/36 (2)	340,082
879	Tax Revenue Exempt Securities Trust, Community Health Provider,
(Pooled Loan Program Various States Trust Certificates),
6.25%, 12/1/36 (2)	900,565
333	Tax Revenue Exempt Securities Trust, Community Health Provider,
(Pooled Loan Program Various States Trust Certificates),
7.75%, 12/1/36 (2)	341,598
		$ 3,833,682
Hospital — 22.4%
$ 10,000	California Health Facilities Financing Authority, (Providence
Health System),
5.50%, 10/1/39 (1)	$ 9,990,000
7,500	California Statewide Communities Development Authority, (John
Muir Health), 5.00%, 8/15/34	6,561,900
3,000	California Statewide Communities Development Authority, (John
Muir Health), 5.00%, 8/15/36	2,605,110
430	Camden County, NJ, Improvement Authority, (Cooper Health
System), 5.00%, 2/15/25	347,281

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Principal
Amount
(000’s omitted)	Security	Value
$ 1,610	Camden County, NJ, Improvement Authority, (Cooper Health
System), 5.00%, 2/15/35	$ 1,154,934
1,200	Camden County, NJ, Improvement Authority, (Cooper Health
System), 5.25%, 2/15/27	973,092
740	Chautauqua County, NY, Industrial Development Agency,
(Women’s Christian Association), 6.35%, 11/15/17	672,867
975	Chautauqua County, NY, Industrial Development Agency,
(Women’s Christian Association), 6.40%, 11/15/29	754,767
3,280	Illinois Finance Authority, (Provena Healthcare),
7.75%, 8/15/34	3,397,063
2,575	Louisiana Public Facilities Authority, (Tuoro Infirmary),
5.625%, 8/15/29	1,824,542
2,000	Martin County, MN, (Fairmont Community Hospital Association),
6.625%, 9/1/22	1,909,620
2,500	Mecosta County, MI, (Michigan General Hospital),
6.00%, 5/15/18	2,232,900
3,000	Monroe County, PA, Hospital Authority, (Pocono Medical Center),
5.25%, 1/1/43	2,649,690
2,500	New York Dormitory Authority, (Memorial Sloan-Kettering Cancer
Center), 5.00%, 7/1/36 (1)	2,519,375
1,465	New York Dormitory Authority, (Orange Regional Medical Center),
6.125%, 12/1/29	1,228,051
2,930	New York Dormitory Authority, (Orange Regional Medical Center),
6.25%, 12/1/37	2,378,076
5,000	North Central, TX, Health Facility Development Corp., (Baylor
Healthcare System),
5.125%, 5/15/29 (3)	5,010,500
1,500	St. Paul, MN, Housing and Redevelopment Authority,
(HealthPartners, Inc.), 5.25%, 5/15/36	1,288,950
1,390	Sullivan County, TN, Health, Educational and Facilities Board,
(Wellmont Health System), 5.44% to 9/15/09 (Put Date), 9/1/32	928,075
1,000	Virginia Small Business Financing Authority, (Wellmont Health),
5.25%, 9/1/37	694,060
1,400	West Orange, FL, Health Care District, 5.80%, 2/1/31	1,296,582
500	Wisconsin Health and Educational Facilities Authority, (Wheaton
Franciscan Healthcare), 5.125%, 8/15/30	406,675
		$ 50,824,110
Housing — 14.8%
$ 1,630	California Housing Finance Agency, (AMT), 4.75%, 8/1/42	$ 1,196,241
2,050	California Housing Finance Agency, (AMT), 5.60%, 8/1/38	1,805,845
4,855	California Rural Home Mortgage Finance Authority, (AMT),
5.50%, 8/1/47	2,911,641
4,000	Charter Mac Equity Trust, TN,
6.00%, 4/30/19 (2)	4,116,920
2,070	Colorado Housing and Finance Authority, (Birchwood Manor
Project), (GNMA), (AMT), 5.50%, 9/20/36	2,087,429
1,425	Fairfax County, VA, Redevelopment and Housing Authority, (Cedar
Ridge), (AMT), 4.85%, 10/1/48	1,268,222
1,595	Lake Creek, CO, Affordable Housing Corp., MFMR,
7.00%, 12/1/23	1,472,616
4,000	Muni Mae Tax-Exempt Bond, LLC,
7.50%, 6/30/49 (2)	3,480,000
2,485	North Little Rock, AR, Residential Housing Facilities,
(Parkstone Place), 6.50%, 8/1/21	2,250,416
2,805	Ohio Housing Finance Agency, (Residential Mortgage Backed
Securities), (FNMA), (GNMA), (AMT), 4.75%, 3/1/37	2,490,391
3,265	Oregon Health Authority, (Trillium Affordable Housing), (AMT),
6.75%, 2/15/29	2,720,267
4,395	Pennsylvania Housing Finance Agency, (AMT), 4.70%, 10/1/37	3,848,877
3,300	Texas Student Housing Corp., (University of Northern Texas),
6.75%, 7/1/16	2,905,815
1,000	Virginia Housing Development Authority, (AMT),
5.875%, 7/1/35	1,031,220
		$ 33,585,900
Industrial Development Revenue — 27.8%
$ 1,680	ABIA Development Corp., TX, (Austin CargoPort Development),
(AMT), 6.50%, 10/1/24	$ 1,305,797
3,085	Alabama Industrial Development Authority, Solid Waste Disposal,
(Pine City Fiber Co.), (AMT), 6.45%, 12/1/23	1,662,846
4,600	Brazos River, TX, Harbor Navigation District, (Dow Chemical
Co.), (AMT), 5.95%, 5/15/33	4,027,714
1,945	Broward County, FL, (Lynxs CargoPort), (AMT), 6.75%, 6/1/19	1,661,127
1,000	Butler County, AL, Industrial Development Authority,
(International Paper Co.), (AMT), 7.00%, 9/1/32	1,005,430
3,000	California Pollution Control Financing Authority,
(Browning-Ferris Industries, Inc.), (AMT), 6.875%, 11/1/27	3,001,410
1,300	California Pollution Control Financing Authority, (Waste
Management, Inc.), (AMT), 5.40%, 4/1/25	1,224,808
1,060	Capital Trust Agency, FL, (Fort Lauderdale Project),
(AMT), 5.75%, 1/1/32	734,877
12,000	Cartersville, GA, Development Authority Sewer and Solid Waste
Disposal Facility, (Anheuser-Busch Cos., Inc.), (AMT),
5.50%, 3/1/44	10,400,880

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Principal
Amount
(000’s omitted)	Security	Value
$ 2,830	Denver, CO, City and County Special Facilities, (United
Airlines), (AMT), 5.25%, 10/1/32	$ 1,642,362
3,305	Denver, CO, City and County Special Facilities, (United
Airlines), (AMT), 5.75%, 10/1/32	2,055,875
1,000	Gulf Coast, TX, Waste Disposal Authority, (Valero Energy Corp.),
5.60%, 4/1/32	844,710
2,500	Gulf Coast, TX, Waste Disposal Authority, (Valero Energy Corp.),
(AMT), 5.70%, 4/1/32	2,178,275
1,000	Houston, TX, Airport System, (Continental Airlines), (AMT),
6.75%, 7/1/29	855,050
1,000	Indiana Financing Authority, (Duke Energy Indiana, Inc.),
6.00%, 8/1/39	1,029,300
2,615	Liberty Development Corp., NY, (Goldman Sachs Group, Inc.),
5.25%, 10/1/35	2,560,320
1,350	Liberty Development Corp., NY, (Goldman Sachs Group, Inc.),
5.25%, 10/1/35 (1)	1,321,807
5,000	New Jersey Economic Development Authority, (Continental
Airlines), (AMT), 6.25%, 9/15/29	4,029,600
8,140	New York, NY, Industrial Development Agency, (American Airlines,
Inc. - JFK International Airport), (AMT), 7.75%, 8/1/31	6,964,014
3,500	New York, NY, Industrial Development Agency, (American Airlines,
Inc. - JFK International Airport), (AMT), 8.50%, 8/1/28	3,250,940
4,630	Phoenix, AZ, Industrial Development Authority, (America West
Airlines, Inc.), (AMT), 6.25%, 6/1/19	3,048,623
650	Puerto Rico Port Authority, (American Airlines, Inc.), (AMT),
6.30%, 6/1/23	284,934
2,110	Savannah, GA, Economic Development Authority,
(Intercat-Savannah), (AMT), 7.00%, 1/1/38	1,579,863
6,980	St. John Baptist Parish, LA, (Marathon Oil Corp.),
5.125%, 6/1/37	6,382,512
		$ 63,053,074
Insured-Electric Utilities — 2.2%
$ 1,600	Burke County, GA, Development Authority, (Georgia Power Co.),
(NPFG), (AMT), 5.45%, 5/1/34	$ 1,504,336
3,820	California Pollution Control Financing Authority, (Pacific Gas
and Electric Co.), (FGIC), (AMT), 4.75%, 12/1/23	3,420,619
		$ 4,924,955
Insured-Hospital — 14.7%
$ 2,500	Illinois Finance Authority, (Rush University Medical Center),
(NPFG), 5.25%, 11/1/35	$ 2,293,850
3,250	Indiana Health and Educational Facility Finance Authority,
(Sisters of St. Francis Health Services), (FSA),
5.25%, 5/15/41 (1)	3,190,622
2,625	Iowa Finance Authority, (Iowa Health System), (AGC),
5.625%, 8/15/37	2,661,881
16,820	Kentucky Economic Development Authority, (Norton Healthcare,
Inc.), (NPFG), 0.00%, 10/1/25	4,848,870
19,165	Kentucky Economic Development Authority, (Norton Healthcare,
Inc.), (NPFG), 0.00%, 10/1/26	5,096,932
8,590	Kentucky Economic Development Authority, (Norton Healthcare,
Inc.), (NPFG), 0.00%, 10/1/27	2,106,783
2,500	Maryland Health and Higher Educational Facilities Authority,
(Lifebridge Health), (AGC),
4.75%, 7/1/47 (1)	2,327,038
10,000	New Jersey Health Care Facilities Financing Authority, (Meridian
Health Center), Series I, (AGC),
5.00%, 7/1/38 (1)	10,156,400
750	New Jersey Health Care Facilities Financing Authority, (Meridian
Health Center), Series V, (AGC),
5.00%, 7/1/38 (1)	761,730
		$ 33,444,106
Insured-Housing — 0.5%
$ 1,100	Broward County, FL, Housing Finance Authority, MFMR, (Venice
Homes Apartments), (FSA), (AMT), 5.70%, 1/1/32	$ 1,101,034
		$ 1,101,034
Insured-Lease Revenue/Certificates of
Participation — 2.3%
$ 2,665	Hudson Yards, NY, Infrastructure Corp., (NPFG),
4.50%, 2/15/47	$ 2,270,234
3,000	San Diego County, CA, Water Authority, (FSA),
5.00%, 5/1/38 (1)	3,024,990
		$ 5,295,224
Insured-Other Revenue — 3.5%
$ 4,210	Harris County-Houston, TX, Sports Authority, (NPFG),
0.00%, 11/15/34	$ 667,790
10,325	New York, NY, Industrial Development Agency, (Yankee Stadium),
(AGC), 0.00%, 3/1/36	2,133,248
8,600	New York, NY, Industrial Development Agency, (Yankee Stadium),
(AGC), 0.00%, 3/1/37	1,665,304
3,100	New York, NY, Industrial Development Agency, (Yankee Stadium),
(AGC), 7.00%, 3/1/49	3,562,055
		$ 8,028,397
Insured-Special Tax Revenue — 10.8%
$ 50,000	Metropolitan Pier and Exposition Authority, IL, (FSA), (NPFG),
0.00%, 12/15/38	$ 8,952,500
34,950	Miami-Dade County, FL, Professional Sports Franchise Facilities,
(AGC), 0.00%, 10/1/37	5,596,893

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Principal
Amount
(000’s omitted)	Security	Value
$ 3,040	Miami-Dade County, FL, Special Obligation, (NPFG),
0.00%, 10/1/35	$ 535,405
5,000	Miami-Dade County, FL, Special Obligation, (NPFG),
0.00%, 10/1/38	668,450
5,610	Miami-Dade County, FL, Special Obligation, (NPFG),
0.00%, 10/1/40	641,784
3,775	New York Convention Center Development Corp., Hotel Occupancy
Tax, (AMBAC), 4.75%, 11/15/45	3,296,028
14,850	Puerto Rico Sales Tax Financing Corp., (AMBAC),
0.00%, 8/1/54	816,304
8,695	Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/44	990,882
17,245	Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45	1,840,904
10,850	Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/46	1,081,311
		$ 24,420,461
Insured-Student Loan — 6.5%
$ 4,090	Maine Educational Authority, (AGC), 5.625%, 12/1/27	$ 4,171,105
1,000	Massachusetts Educational Financing Authority, (AGC), (AMT),
6.35%, 1/1/30	1,024,560
7,940	Massachusetts Educational Financing Authority, (AMBAC), (AMT),
4.70%, 1/1/33	6,458,713
3,000	New Jersey Higher Education Assistance Authority, (AGC),
6.125%, 6/1/30	3,115,860
		$ 14,770,238
Insured-Transportation — 15.2%
$ 12,425	Alameda, CA, Corridor Transportation Authority, (NPFG),
0.00%, 10/1/33	$ 2,645,034
3,500	Chicago, IL, (O’Hare International Airport), (AMBAC),
(AMT), 5.375%, 1/1/32	3,273,235
470	Chicago, IL, (O’Hare International Airport), (FSA),
4.50%, 1/1/38	421,346
5,500	Director of the State of Nevada Department of Business and
Industry, (Las Vegas Monorail), (AMBAC), 5.375%, 1/1/40	1,103,190
1,000	Director of the State of Nevada Department of Business and
Industry, (Las Vegas Monorail), (AMBAC), 5.625%, 1/1/32	200,590
2,100	Maryland Transportation Authority, (FSA),
5.00%, 7/1/41 (1)	2,175,715
2,665	Massachusetts Turnpike Authority, Metropolitan Highway System,
(NPFG), 5.00%, 1/1/37	2,509,790
3,770	Miami-Dade County, FL, Aviation Revenue, (Miami International
Airport), (AGC), (CIFG), (AMT), 5.00%, 10/1/38	3,441,897
3,140	Miami-Dade County, FL, Aviation Revenue, (Miami International
Airport), (FSA), (AMT), 5.25%, 10/1/41	2,955,180
15,000	North Carolina Turnpike Authority, (AGC), 0.00%, 1/1/34	3,089,400
9,820	Puerto Rico Highway and Transportation Authority, (AGC), (CIFG),
5.25%, 7/1/41 (1)	10,208,528
2,500	San Jose, CA, Airport Revenue, (AMBAC), (BHAC), (FSA), (AMT),
5.00%, 3/1/37	2,361,000
		$ 34,384,905
Insured-Water and Sewer — 3.4%
$ 3,750	Austin, TX, Water and Wastewater, (BHAC), (FSA),
5.00%, 11/15/33 (1)	$ 3,854,737
875	Emerald Coast, FL, Utility Authority Revenue, (FGIC), (NPFG),
4.75%, 1/1/31	834,304
3,250	Fernley, NV, Water and Sewer, (AGC),
5.00%, 2/1/38 (1)	3,080,123
		$ 7,769,164
Lease Revenue/Certificates of
Participation — 2.2%
$ 4,400	Mohave County, AZ, Industrial Development Authority, (Mohave
Prison LLC), 8.00%, 5/1/25	$ 4,956,908
		$ 4,956,908
Nursing Home — 1.1%
$ 265	Orange County, FL, Health Facilities Authority, (Westminster
Community Care), 6.60%, 4/1/24	$ 234,599
2,735	Orange County, FL, Health Facilities Authority, (Westminster
Community Care), 6.75%, 4/1/34	2,260,067
		$ 2,494,666
Other Revenue — 14.0%
$ 58,690	Buckeye Tobacco Settlement Financing Authority, OH,
0.00%, 6/1/47	$ 1,697,315
1,955	Central Falls, RI, Detention Facility Revenue,
7.25%, 7/15/35	1,380,132
1,535	Main Street National Gas, Inc., GA, Gas Project Revenue,
5.50%, 9/15/27	1,441,426
7,600	Michigan Tobacco Settlement Finance Authority, 6.00%, 6/1/48	5,854,584
2,350	Michigan Tobacco Settlement Finance Authority,
6.875%, 6/1/42	2,066,355
1,500	Mohegan Tribe Indians Gaming Authority, CT, (Public
Improvements),
6.25%, 1/1/21 (2)	1,198,170
2,300	Northern Tobacco Securitization Corp., AK, 0.00%, 6/1/46	79,764
160	Otero County, NM, Jail Project Revenue, 5.50%, 4/1/13	155,712
360	Otero County, NM, Jail Project Revenue, 5.75%, 4/1/18	310,666

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Principal
Amount
(000’s omitted)	Security	Value
$ 100	Otero County, NM, Jail Project Revenue, 6.00%, 4/1/23	$ 80,177
110	Otero County, NM, Jail Project Revenue, 6.00%, 4/1/28	83,400
9,000	Salt Verde, AZ, Financial Corp., Senior Gas Revenue,
5.00%, 12/1/37	7,546,680
4,000	Seminole Tribe, FL, Special Obligation Revenue,
5.25%, 10/1/27 (2)	3,457,560
1,365	Seminole Tribe, FL, Special Obligation Revenue,
5.50%, 10/1/24 (2)	1,233,605
1,000	Tennessee Energy Acquisition Corp., Gas Revenue,
5.00%, 2/1/22	949,350
6,905	Tobacco Settlement Financing Corp., VA, 0.00%, 6/1/47	252,447
4,180	Tobacco Settlement Financing Corp., VA, 5.00%, 6/1/47	2,926,752
1,415	White Earth Band of Chippewa Indians, MN,
6.375%, 12/1/26 (2)	911,614
175	Willacy County, TX, Local Government Corp., 6.00%, 9/1/10	173,348
		$ 31,799,057
Senior Living/Life Care — 2.6%
$ 3,210	Cliff House Trust, PA, (AMT),
6.625%, 6/1/27 (4)	$ 1,741,489
3,240	Logan County, CO, Industrial Development, (TLC Care Choices,
Inc.),
6.875%, 12/1/23 (4)	2,267,870
2,990	Massachusetts Development Finance Agency, (Linden Ponds, Inc.),
5.75%, 11/15/42	1,858,435
		$ 5,867,794
Special Tax Revenue — 5.2%
$ 3,280	Bell Mountain Ranch, CO, Metropolitan District,
6.625%, 11/15/25	$ 3,102,322
80	Covington Park, FL, Community Development District, (Capital
Improvements), 5.00%, 5/1/21	78,198
500	Covington Park, FL, Community Development District, (Capital
Improvements), 5.00%, 5/1/31	426,840
720	Denver, CO, Urban Renewal Authority, 8.00%, 12/1/24	414,900
215	Dupree Lakes, FL, Community Development District,
5.00%, 11/1/10	163,772
205	Dupree Lakes, FL, Community Development District,
5.00%, 5/1/12	137,502
350	Dupree Lakes, FL, Community Development District,
5.375%, 5/1/37	220,955
305	Heritage Harbor South, FL, Community Development District,
(Capital Improvements), 6.20%, 5/1/35	277,245
220	Heritage Springs, FL, Community Development District,
5.25%, 5/1/26	181,790
190	Longleaf, FL, Community Development District,
6.20%, 5/1/09 (5)	94,886
340	New River, FL, Community Development District, (Capital
Improvements), 5.00%, 5/1/13	149,365
140	New River, FL, Community Development District, (Capital
Improvements), 5.35%, 5/1/38	60,437
330	North Springs, FL, Improvement District, (Heron Bay),
5.20%, 5/1/27	201,993
560	North Springs, FL, Improvement District, (Heron Bay),
7.00%, 5/1/19	560,011
970	River Hall, FL, Community Development District, (Capital
Improvements), 5.45%, 5/1/36	534,043
470	Southern Hills, FL, Plantation I Community Development District,
5.80%, 5/1/35	270,419
600	Sterling Hill, FL, Community Development District,
6.20%, 5/1/35	526,686
700	University Square, FL, Community Development District,
6.75%, 5/1/20	693,896
1,780	Virgin Islands Public Finance Authority, 6.75%, 10/1/37	1,817,149
670	Waterlefe, FL, Community Development District, 6.95%, 5/1/31	649,887
175	West Palm Beach, FL, Community Redevelopment Agency, (Northwood
Pleasant Community), 5.00%, 3/1/29	164,414
1,270	West Palm Beach, FL, Community Redevelopment Agency, (Northwood
Pleasant Community), 5.00%, 3/1/35	1,132,802
		$ 11,859,512
Transportation — 12.0%
$ 1,500	Augusta, GA, (AMT), 5.35%, 1/1/28	$ 1,137,960
915	Branson, MO, Regional Airport Transportation Development
District, (Branson Airport LLC), (AMT), 6.00%, 7/1/25	653,896
2,670	Branson, MO, Regional Airport Transportation Development
District, (Branson Airport LLC), (AMT), 6.00%, 7/1/37	1,746,127
1,000	Los Angeles Department of Airports, CA, (Los Angeles
International Airport), (AMT), 5.375%, 5/15/33	992,630
4,000	Miami-Dade County, FL, Aviation Revenue, 5.50%, 10/1/36	4,086,760
1,515	North Texas Tollway Authority Revenue, 5.75%, 1/1/38	1,496,077
7,290	Port Authority of New York and New Jersey, (AMT),
5.75%, 3/15/35 (1)	7,681,619
9,300	Triborough Bridge & Tunnel Authority, NY,
5.00%, 11/15/37 (1)	9,470,236
		$ 27,265,305

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Principal
Amount
(000’s omitted)	Security	Value
Water and Sewer — 1.2%
$ 3,405	Massachusetts Water Resources Authority,
4.00%, 8/1/46 (3)	$ 2,790,704
		$ 2,790,704
Total Tax-Exempt Investments — 185.7% (identified cost $459,652,999)		$ 421,367,117
Auction Preferred Shares Plus Cumulative Unpaid
Dividends — (53.0)%		$ (120,158,258	)
Other Assets, Less Liabilities — (32.7)%		$ (74,291,979	)
Net Assets Applicable to Common Shares — 100.0%		$ 226,916,880

| The percentage shown for each investment category in the
Portfolio of Investments is based on net assets applicable to
common shares. — 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 | |
| FNMA | - | Federal National Mortgage Association | |
| FSA | - | Financial Security Assurance, Inc. | |
| GNMA | - | Government National Mortgage Association | |
| MFMR | - | Multi-Family Mortgage Revenue | |
| NPFG | - | National Public Finance Guaranty Corp. | |
| At August 31, 2009, the concentration of the Trust’s
investments in the various states, determined as a percentage of
total investments, is as follows: | | | |
| | | New York | 12.6% |
| | | California | 12.4% |
| | | Others, representing less than 10% individually | 75.0% |
| The Trust invests primarily in debt securities issued by
municipalities. 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
August 31, 2009, 31.8% 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 1.0% to 13.5% of
total investments. | | | |
| (1) | | Security represents the underlying municipal bond of an inverse
floater. | |
| (2) | | Security exempt from registration under Rule 144A of the
Securities Act of 1933. These securities may be sold in
transactions exempt from registration, normally to qualified
institutional buyers. At August 31, 2009, the aggregate
value of these securities is $15,980,114 or 7.0% of the
Trust’s net assets applicable to common shares. | |
| (3) | | Security (or a portion thereof) has been pledged as collateral
for open swap contracts or inverse floating-rate security
transactions. | |
| (4) | | Security is in default and is making only partial interest
payments. | |
| (5) | | Defaulted matured bond. | |

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A summary of financial instruments outstanding at August 31, 2009 is as follows:

Interest Rate Swaps

	Notional	Annual — Fixed Rate	Floating — Rate	Effective Date/	Net Unrealized
Counterparty	Amount	Paid By Fund	Paid To Fund	Termination Date	Depreciation
JPMorgan Chase Co.	$ 6,712,500	4.743%	3-month USD- LIBOR-BBA	September 14, 2009/ September 14, 2039	$ (759,671	)
					$ (759,671	)

The effective date represents the date on which the Trust and the counterparty to the interest rate swap contract begin interest payment accruals.

At August 31, 2009, the Trust had sufficient cash and/or securities to cover commitments under these contracts.

The Trust is subject to interest rate risk in the normal course of pursuing its investment objectives. Because the Trust holds fixed rate bonds, the value of these bonds may decrease if interest rates rise. To hedge against this risk, the Trust may enter into interest rate swap contracts.

At August 31, 2009, the aggregate fair value of derivative instruments (not accounted for as hedging instruments under Financial Accounting Standards Board (FASB) Statement of Financial Accounting Standards No. 133) in a liability position and whose primary underlying risk exposure is interest rate risk was $759,671.

The cost and unrealized appreciation (depreciation) of investments of the Trust at August 31, 2009, as determined on a federal income tax basis, were as follows:

Aggregate cost	$
Gross unrealized appreciation	$ 13,712,152
Gross unrealized depreciation	(52,846,186	)
Net unrealized depreciation	$ (39,134,034	)

FASB Statement of Financial Accounting Standards No. 157, “Fair Value Measurements”, established a three-tier hierarchy to prioritize the assumptions, referred to as inputs, used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

| • | 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 fund’s own assumptions in determining the fair
value of investments) |

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

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At August 31, 2009, the inputs used in valuing the Trust’s investments, which are carried at value, were as follows:

	Quoted Prices in — Active Markets for	Significant Other		Significant
	Identical Assets	Observable Inputs		Unobservable Inputs
Asset Description	(Level 1)	(Level 2)		(Level 3)	Total
Tax-Exempt Investments	$ —	$ 421,367,117		$ —	$ 421,367,117
Total Investments	$ —	$ 421,367,117		$ —	$ 421,367,117
Liability Description
Interest Rate Swaps	$ —	$ (759,671	)	$ —	$ (759,671	)
Total	$ —	$ (759,671	)	$ —	$ (759,671	)

The Trust held no investments or other financial instruments as of November 30, 2008 whose fair value was determined using Level 3 inputs.

For information on the Trust’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Trust’s most recent financial statements included in its semiannual or annual report to shareholders.

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Item 2. Controls and Procedures

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant on this form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant on this form N-Q has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.

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Signatures

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.

Eaton Vance Municipal Income Trust

By:	/s/ Robert B. MacIntosh
	Robert B. MacIntosh
	President
Date:	October 15, 2009

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/ Robert B. MacIntosh
	Robert B. MacIntosh
	President
Date:	October 15, 2009
By:	/s/ Barbara E. Campbell
	Barbara E. Campbell
	Treasurer
Date:	October 15, 2009

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